Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
What’ll make millennials ‘walk away’ from jewelry
At a session held Sunday at JA New York Summer, the DCA’s Terry Chandler discussed how selling over-graded diamonds could turn off an entire generation.
New York--Diamond grading reports and millennials are among the two most-talked-about topics among jewelers today.
On Sunday at JA New York Summer, the Diamond Council of America’s Terry Chandler told attendees how the two were related in a talk titled “Diamond Grading Reports: The Jeweler’s Ticking Time Bomb.”
Chandler started his afternoon session by recapping the events that unfolded in Nashville, Tenn. last year.
In May a local NBC affiliate, WSMV, began airing a series of reports about local retailer Genesis Diamonds selling EGL International-graded diamonds that were found to be over-graded for both color and clarity.
The reports, which eventually were picked up by media outlets across the country, were the impetus for a number of changes in the jewelry industry around an issue that has been simmering for years: over-graded diamonds.
Martin Rapaport removed diamonds graded by any EGL laboratory from RapNet, grading reports are no longer being issued under the EGL International brand, and a group of key industry organizations drafted a new policy specifically to address color over-grading.
While helpful, these actions certainly don’t mean that every over-graded diamond suddenly has disappeared from the market and, Chandler pointed out, it doesn’t mean there aren’t people still trying to commit fraud.
He said jewelers need to “go back to being professionals”--they need to have the ability to look at a diamond and determine if indeed the color grade listed on the diamond’s grading report does not match the stone, and then relay that to their customers.
Otherwise they are going to lose customers, particularly millennial customers who come into the store armed with a wealth of knowledge. They expect the retailers from whom they are buying to be able to answer all their questions, and they expect all that information to be accurate.
“You will not pass their test if they find out you’re lying to them,” Chandler said. They will leave the store without making a purchase and, what’s worse, tell all their friends and social media followers about their experience.
And, he adds, it won’t just be diamonds they abandon but jewelry as a whole.
“If we continue to allow this to go on … the millennials will walk away,” he said.
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.