CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
IndependentsNov 25, 2013
Retailer Talk: Two tools that changed my year
Michigan retailer Randy Cole attended a trade show earlier this year where he found two products that, he says, changed his entire business model. One is a patented princess-cut diamond and the other is a machine that leaves its mark.
The FireMark is a patented princess-cut diamond created by New York-based diamond company Hasenfeld-Stein Inc.
Troy, Mich.--Michigan retailer Randy Cole attended a trade show earlier this year where he found two products that, he says, changed his entire business model.
One was the FireMark, the patented princess-cut diamond from New York-based diamond company Hasenfeld-Stein Inc.
The other was Gemprint, a service offered by the Gem Certification and Assurance Lab, or GCAL, the New York laboratory run by Don Palmieri.
In a recent interview with National Jeweler, Cole, CEO of the Diamond Vault of Troy, broke down why these two tools, which he discovered at the Centurion Jewelry Show held in Scottsdale, Ariz. in February, are working for him, a jeweler whose business is heavily reliant on bridal.
Retailer Talk is a new feature for National Jeweler that allows jewelers to share the practices that are working in their stores or vent about the ones that aren’t.
1. Sales on Fire. Cole, admittedly, has never been a fan of princess-cut stones, even though they are the second most popular shape for engagement rings, trailing only the traditional round.
Cut for weight, princesses are, generally speaking, too deep, have a wide-open table and a low crown, resulting in poor light return and no prismatic color.
But this is not the case with the FireMark, he says. The diamond has a 98 percent average light return, compared with 80 percent for traditional princess, thanks to its higher double crown, smaller table and shallower depth.
“For me, selling a FireMark is the easiest thing I’ve ever done,” said the retailer.
Cole said after Centurion, Hasenfeld-Stein sent him two stones on memo. He sold both the same day, “And we haven’t stopped since,” he says, noting that they’ll sell as many as three in a single day.
The way he sells the diamond is this: he keeps a normal 0.70-carat princess-cut diamond on hand and compares it with a 0.60-carat FireMark princess cut. The FireMark is more brilliant and actually looks bigger, he says, making for an easy sale.
Another feature he likes about the FireMark may sound counter-intuitive to many retailers: Hasenfeld-Stein doesn’t offer jewelers any co-op.
While co-op is nice, Cole says the advertising gets built into the price of the goods, resulting in a higher cost for him and, ultimately, his customers. He’d rather market the diamonds himself and be able to keep his prices down.
Cole adds that he is not necessarily
a big believer in any of the big diamond brands and the marketing messages behind them. The mystique around De Beers’ Forevermark, as one example, is the fact that De Beers says they can trace the stones from mine to market.
But Cole said using trusted sources is adequate reassurance for him. “We do the Kimberley Process. That’s enough,” he says.
2. Leaving fingerprints. Gemprint shoots a non-damaging laser into a diamond, which creates a constellation-type reflection that’s unique to that stone. The registration of this reflection pattern allows the diamond to be positively identified if it’s lost or stolen, the same way that people can be identified by their fingerprints.
Cole shelled out $14,000 for the Gemprint machine at Centurion but he said it has been worth it, for the exclusivity alone.
“I am the only one in Michigan who has a machine,” he said, noting that another retailer actually pays him to Gemprint his stones for him.
He said the machine sits out in the open where customers can see the scanning process while their online registration is created.
“A customer’s biggest fear is that their stone may be switched at some point. Gemprint allows a positive identification even if it does not have a grading report,” he says.
As an added selling point, Cole says more than 20 insurance companies offer discounts to consumers on their annual personal jewelry insurance premium if their stone is registered with Gemprint.
Want to share a practice or product that is, or isn’t, working for your store? Email Editor-in-Chief Michelle Graff at michelle.graff@emeraldexpo.com.
More on Independents
The Latest
ColumnistsSep 11, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
