EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
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
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
