The Diamond Fanatic: March 2008

Monday, March 31, 2008

Botswana Takes Greater Control Of Local Diamond Industry

A new diamond-processing plant, jointly owned by the Botswana government and diamond giant De Beers, has opened in Botswana, marking a major shift in power within the local diamond industry.

Botswana is the world's largest producer of diamonds,and home to the world's richest diamond mine - the Jwaneng mine. Until now, diamonds from Botswana have been sent abroad to be polished, marketed and sold, preventing the local economy from benefiting from the development of secondary industries such as diamond polishing and cutting. The creation of this new $83 million processing plant will change this, creating 3,300 local jobs by the end of next year.

The Botswana government has long been keen to develop downstream industry from the mining of diamonds, so when the lease for the Jwaneng mine was due for renewal, it was a perfect opportunity to negotiate in favour of the local economy. De Beers were left with very few options other than to shift processing to Botswana in exchange for the lease renewal.

16 clients of De Beers, including diamond jewellery names such as Tiffany, have now set up operations within the country as a direct result of the new plant, and the government has ambitious plans to transform its capital, Gaborone, into a major global diamond centre.

Diamonds Are a Man's Best Friend?

Christies, the auction house, have reported strong sales growth last year with diamonds in particular helping to push sales to nearly 400 million dollars, an increase of 11% on 2006.

Strong Diamond Jewellery Sales Reported By Christies

2007 results are the highest ever reported by any auction house and confirm Christies as world leader for world diamond jewellery auctions. Francois Curiel, Christies chairmen of jewellery, said that new collectors from Russia, China and the Middle East, as well as people bidding over the internet, have helped drive the growth.

"Hong Kong has also established itself firmly alongside Geneva and New York as a key international sale centre for exceptional jewels", he added.

We believe that a main other un-reported reason to be that diamond prices have consistently risen in recent years and as such are seen to be a good long term investment out-performing the market.

What other investment can you publicly enjoy so much? So diamonds don't have to be only a girl's best friend!

Wednesday, March 26, 2008

The Chanel Diamond Forever Bag

If you're looking for the ultimate christmas gift for your loved one, then perhaps you should consider the forthcoming Chanel Diamond Forever bag.

The bag is based on the classic Chanel shoulder bag design, with the addition of some extravagant customisation. The traditional Chanel "Cs" are encrusted with 334 diamonds (3.56 carats), and set in 18-carat white gold. The bag itself is crafted in white alligator skin, with a matte finish.

The ultimate in luxury and exclusivity, Chanel will be producing only 13 examples of the bag, which will be available in December. However, with a staggering $261,000 price tag,you may need to take out a mortgage to buy one!

If you're looking for a special gift with a smaller price tag, you can find a range of beautiful diamond jewellery at The Diamond Store.

Tuesday, March 25, 2008

The Diamond Divas Exhibition

The Antwerp World Diamond Centre are hosting an exhibition of celebrities and their jewellery this month. The Diamond Divas include royals, members of high society and stars of stage and screen.

Each item of jewelry that will be shown at the Diamond Divas exhibition comes with its own legend, sometimes concerning its owner and on other occasions the event for which it was created,” the AWDC explained. "The women who distinguished themselves by their exquisite taste, strong faith and independent spirit."

Bracelets from the Art de Cartier collection owned by Gloria Swanson, a hollywood star from the silent movie era, well known for her extravagant lifestyle, will be on show.

The famous Moon of Baroda necklace with it's centrepiece of a 24.04ct canary yellow pear shaped diamond, worn by Marilyn Monroe at the film premiere of Gentlemen Prefer Blondes, will also be on display.

Sounds very interesting and glamorous with a chance to see some very famous jewels!

The Diamond Divas exhibition runs from April 11 to June 8 at the Diamond Museum in Antwerp.

Wednesday, March 19, 2008

Choosing An Anniversary Gift

For some, remembering an anniversary is a challenge, although I hear you learn not to forget it pretty fast! If you are a lady, do you remember your previous anniversary gifts well?

Ask about any piece of jewellery in a lady's jewellery box and chances are she can tell you a story about each and every one; where they were received, what she was wearing and most probably a smile will appear on her face as she recalls the magic of the moment.

Guys, let me you in to a little secret......"girls love diamonds!" So its not such a big secret you think, but I have been a jeweller many many years and I still get pleasantly surprised when I see the delight on a lady's face when she has been presented with diamond jewellery. Many times I've even seen joys of tears! Now I appreciate diamonds, but many ladies get so emotional!

It's almost too easy when choosing gifts for the ladies (in particular), buy diamonds!

Don't think "yes, but diamonds are expensive"....

They are not expensive, they are just valuable, and that's the reason for the ladies gratitude, it shows you care.

So when weighing up what to buy and you are thinking about your budget, just think of all those brownie points you'll be earning, just how happy you will be making your lady :)

So when you want your other half to look like their face has been frozen into a happy smile, you'll know what to buy!

PS. Be careful when buying diamond rings as gifts if you are not already married, you might end up engaged :)

Tuesday, March 18, 2008

Zimbabwe Diamonds - Funding Terror?

Reports from Zimbabwe are suggesting that illegal mining operations are funding terror. This comes at a time when Zimbabwe is trying to crackdown on diamond smuggling. These illegally mined diamonds are being transported through Marange and used for funding terrorist groups.

According to The Herald, diamond leakages are still occurring on a large scale despite government stationed soldiers and police at diamond fields.

Blood diamonds/conflict diamonds, as they are colloquially known, are traded for weapons and used by terrorists in their murderous campaigns.

Please bear in mind when purchasing your diamond rings that The Diamond Store only uses conflict free diamonds that have gone through the Kimberley Process to ensure that they are sourced legitimately. This process involves checks at every stage of transaction, from mine to dealer, to prove the origins of the diamonds. Any supplier attempting to deal in diamonds where there is no proof or origin are dealt with severely. The system is working very well to combat the flow of funding to terrorist organisations.

The Diamond Store wholeheartedly supports the Kimberley Process.

Monday, March 17, 2008

Symbolise Your Love With A Trilogy Ring - The Perfect Wedding Anniversary Gift

Trilogy rings are perhaps one of the most meaningful gifts you can buy your loved one, symbolising your past, present and future together. A trilogy ring is therefore an ideal choice of wedding anniversary gift.

Trilogy rings are also known as three-stone rings and trinity rings. Popular at the turn of the century, trilogy rings are currently experiencing a renaissance, with contemporary diamond trilogy rings now a popular choice for wedding and anniversary rings.

The three stones of the ring traditionally represent the past, present and future of a relationship, and denote lasting commitment. Each stone is individual and complete, but closely related to the others, reflecting the special bond between you and your loved one. When you are giving a trilogy ring you are simply saying:

"You are my life - my past, present and future is here with you".

Christian couples sometimes attach a different meaning to the ring, with the two side stones representing the couple and the centre stone representing God, who is at the core of the relationship. When they are given during a very mature relationship, the three stones can also be used in such a way as to express commitment through the centre stone, whilst promising trust and respect through the diamonds on either side.

Diamond trilogy rings are also increasingly popular as engagement rings, because of their elegance and beauty and have become popular among some of the music world’s greatest pop divas: Madonna wears one with round diamonds totalling five carats, while Toni Braxton has an oval-shaped centre stone with heart-shaped side stones totalling 4.5 carats.

Often these rings are given to symbolise the number 3, so are an ideal way to celebrate the birth of a third child or wedding anniversary.

When choosing this amazing gift, it is worth considering the stones you are choosing. Diamonds are a popular choice, but trilogy rings can be made using any gemstone, or perhaps a mixture of both. Diamond-sapphire-diamond or diamond – ruby – diamond are both popular stone combinations.

Diamond trilogy rings traditionally use brilliant cut round diamonds or princess cut diamonds in a claw or rub over setting. However, you can design a ring using any cut diamonds, such as pear shaped or oval designs with round diamonds either side.

At The Diamond Store there are over 50 different three-stone diamond rings on offer, with prices ranging from as little as £250 all the way up to £2100. They also offer a wide range of diamond sizes and qualities, along with the settings of 9K and 8K white and yellow gold.

If you are looking for a timeless symbol of the endurance of your love for someone, then a trilogy ring is for you. So what are you waiting for?

Labels: Diamond Rings

Friday, March 14, 2008

Effects Of The Credit Crunch On Jewellery Sales

The media is awash with economic doom and gloom. The credit crunch that has affected most of the world in the last 3 months is threatening to have severe knock-on effects on many industries. But what will it mean to the diamond jewellery trade?

Although The Diamond Store is not best indicator of the world economy, with its amazing success in a very short time, they have definitely see a pattern emerging; people are opting for higher quality jewellery.

On the surface, people spending more money when credit is tighter doesn't seem to make sense but on further analysis, it can possibly be explained.

Retail Therapy - When people are unhappy, they search for a way to be happy. Going shopping is well known to uplift spirits. However, with tighter credit, these people want to make each item they buy, count more. So out goes impulsive purchases to be replaced with considered purchases. People will focus more on quality and the selling experience to gain the emotional uplift that results in their therapy!

This will explain why The Diamond Store has seen an astonishing 55% increase in the average order value in 2008 compared to 2007. The Diamond Store, with its emphasis on quality of product and customer service, is proving that their strategies are working well. Just read some of their customer's testimonials here.

Entry level diamond jewellery such as low value diamond rings and gem-stone jewellery, have made way for more expensive diamond rings (especially full eternity rings), diamond bracelets, and diamond earrings.

Mary Portas, best known for her television series Mary Queen of Shops and her weekly mystery shopping reports for The Daily Telegraph, has been quoted to say that retailers need to know their customers. "In a saturated consumer society, the customer is asking "what makes me happy?" she said. "The future of retailing will be defined by those who know their customer's emotional needs. It is much less about what you sell and much more about how you sell it.

This is a core focus for The Diamond Store - you can gauge just how well they do this everytime their jewellery boxes are opened...

Thursday, March 13, 2008

Shopping For Diamond Rings

Hunting down a bargain on the net has become more of a hobby as more and more people shop online and diamond jewellery is no exception.

There is a large difference, however, between hunting for a homogenous product such as a branded electrical product for instance, and diamond jewellery. Buying jewellery is a far more emotive choice and inherently involves a lot of trust in the actual supplier of the quality of the product. A customer’s trust in his jeweller is a very important factor and in my view, highly justified.

This is especially true with high value purchases, say engagement rings, where the customer depends on the jeweller's advice to help him choose a diamond and a setting. It happens quite often that a consumer believes their own online research/self education can truly replace a jeweller’s advice. The fact is, you can’t replace years of knowledge and experience with 2-3 hours of self-education.

Describing a particular diamond's beauty by a technical description alone is very difficult, it is very likely that the jeweller can show you a diamond that is far more appealing and can often save you a substantial sum of money. Nothing compares to actually experiencing the different ways that the fire in diamonds flicker around the precious stone.

To give an example, a customer purchases an F colour, VVS2 quality 0.57ct diamond ring online, say for £1000. He receives the ring and thinks to himself, the diamond isn’t as big as I thought, but still is happy as he is none the wiser.

Now if that customer were to go to his trusted jeweller and be shown a larger diamond with slightly less technical qualities (but still indiscernible to the naked eye) for the same budget, he could be pleasantly surprised.

So the vast information online will only partially guide you to the perfect diamond for you, a jeweller’s helping hand will guide you the rest of the way. As only a true and trusted jeweller will help you understand the natural magical beauty of a diamond.

And that is why I work with The Diamond Store.

Labels: Diamond Rings

Friday, March 07, 2008

Photos On Diamonds

A Silicon Valley firm has developed nanotechnology to allow high resolution images to be incribed on the surface of diamonds and gemstones.

The PureDiamond process isn't visible to the naked eye, only with a portable viewing device, GemmaView.

Gemory is the company behind it and explains that the diamond is not harmed at all and this process can help security track, as a mark would be extremely difficult to replicate.

Imagine giving diamond rings with your own happy couple images on it!

Thursday, March 06, 2008

Coutts London Jewellery Week

Finally, the brilliance of British Jewellery is to have a showcase. Private bank Coutts & Co are coming together with Visit Britain and the jewellery industry to create Coutts London Jewellery Week. From 11 to 15 June 2008, jewellers spanning Hatton Garden, Knightsbridge, Bond Street and Green Street are expected to offer a variety of jewellery events including exhibitions, catwalk shows, seminars and open houses.

The reception will be hosted at Coutt's foyer atrium where up to 20 sponsors will have their jewels showcased - Boodles, Burlington Arcade, Stephen Webster, Shaun Leane and Swarovski are currently signed up - is expected to attract 400+ guests including press and Coutts high net worth clients.

Look out for big press spreads in Evening Standard's ES magazine (6th June), a 20 page supplement in Harpers Bazaar and a 12 page feature in Visit Britain magazine, So British. Coutts customers will also receive a glossy event guide.

Wednesday, March 05, 2008

Rising Gold Prices

Wow! The price of gold is continuing to break records with gold breaking through the $980 an ounce. Why? is it because of the demand for gold jewellery? Hardly, jewellery accounts for only a very small portion of gold demand. Gold is usually bought by investors looking for a safe haven for their money. With the financial markets going through some huge volatility in the last 3 years, banks, instituitions and funds have been buying gold to reduce their risks.

Just have a look at the chart below to see this visually:

So what does this mean to the average diamond fanatic? Well, for a start, most diamonds are set in Gold or Platinum (Platinum prices have gone crazy too) which means that the price for jewellery will be more expensive. However, the value in most diamond jewellery pieces, especially diamond rings, is mostly in the diamonds, so prices have not risen to put jewellery out of bounds.

What has happened is that people have been buying less plain gold jewellery and upgraded to diamond jewellery, so fewer number of pieces but of higher quality.

This is also a good time to go through your unworn jewellery and take them to a local jeweller to be scrapped! For instance, a 20 gram plain 9ct gold bracelet was worth £53 in 2003, is now worth around £120 in scrap terms!

The Diamond Fanatic