Last updateTue, 20 Mar 2018 10pm

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Uncertain future for global diamond trade as profits vanish

reutersmediaThe family businesses that make up the global diamond trade have seen their profits wiped out over the past five years, hit by shaky financing, increased costs and uncertain demand from customers who prefer hi-tech gadgets to bling.

Manufacturers who cut and polish diamonds have found themselves caught between giant mining companies charging high prices for rough stones, and big retail chains that demand gems at low margins to keep sales moving.

While the $80 billion overall spent on diamond jewelry last year was a record, the manufacturers are expected to share a profit of just $100 million in 2015. That is half last year's total and down from $900 million in 2010, according to Chaim Even-Zohar of Tacy Ltd and Pranay Narvekar of Pharos Beam in Mumbai, two of the industry's top consultants.

Jewelers Mutual’s new loss prevention video stresses the value of keeping a suspicious incident logbook

(NEENAH, Wis.) - Nearly all crimes against jewelry businesses include elements of casing as criminals prepare to attack. In some cases, criminals and their accomplices may be in your store many times, identifying weaknesses and looking for opportunities.

One of the easiest proactive and most cost-effective measures any jeweler can take is engaging your employees in identifying, documenting and referring to a suspicious incident logbook. With a new Secure Business Series video from Jewelers Mutual Insurance Company, jewelers can train their staff to connect the dots, identifying and documenting incidents of casing and suspicious individuals before a crime occurs.

Ancient trade route shows gold's enduring power

gold ireland standardResearchers at the University of Southampton have found a prehistoric gold trade route between Ireland and southwest England. The route gives a glimpse into how ancient cultures regarded gold.

A new study has shed more light on how the value of gold has endured – and changed – since ancient times.

Archeologists at the University of Southampton in the United Kingdom have discovered a prehistoric gold trade route between Ireland and southwest England that dates as far back as the Bronze Age, or about 2500 B.C. The route’s existence implies that gold workers in Ireland chose to import the metal from Cornwall despite likely knowing how to extract the material from local deposits – suggesting variations in how the two cultures regarded gold, according to Dr. Chris Standish, the study’s lead author.

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Colorado woman finds 8.52 carat diamond in Arkansas state park

arkansas diamondMURFREESBORO, Ark. – An 8.52 carat diamond has been found by a Colorado woman at Arkansas' Crater of Diamonds State Park at Murfreesboro.

Park officials said Friday that the gem found by Bobbie Oskarson of Longmont, Colorado, is the fifth largest diamond found since the park was established in 1972. The park does not provide an estimate of the diamond's potential value.

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Dramatic rise seen in smash and grab robberies

According to the Jewelers' Security Alliance (JSA) in 2014 smash and grab robberies rose by 77% over 2013. Watch this video of a smash and grab robbery from ABC News -http://abcnews.go.com/WNT/video/smash-grab-robberies-rise-us-31353073

On the JSA website, http://www.jewelerssecurityalliance.org, you can find crime prevention advice including these recommendation to help reduce the smash and grab epidemic:

Smash and grab robbery recommendations

In 2014 a total of 110 smash and grab robberies of jewelry stores in theU.S. were reported to JSA, compared to 62 in 2013, a 77% increase. Jewelerscan’t rely only on the great work by law enforcement to help with this crimeproblem. Below are some recommendations provided to jewelers by JSA to helpreduce the smash and grab epidemic.

Industry legend Herb Lewis dies at 100

LewisLong time industry veteran Herb Lewis turned 100-years-old just days before he passed away peacefully at his home in Los Angeles the evening of June 9th.

Herb, one of 7 children of Mark Lewis (a retail jeweler in Philadelphia), was born June 1, 1915. He was President of the Southern Jewelers Travelers Association, producers of the Atlanta Jewelry Show, and is a past president of the Jeweler’s 24 Karat Club of Southern California.

During his career, Herb worked for Bulova for over 34 years, retiring as a vice-president. In his retirement Herb continued working in the jewelry industry, first as director of marketing and national sales manager for Allison-Kaufman, where he helped the company set several sales records, and then, until age 93, as a sales representative for SA Kitsinian, traveling to major trade shows and visiting key accounts nationally.

Ostbye introduces retailer online catalog


Ostbye(MINNEAPOLIS, Minn.) - Ostbye is excited to announce the release of their new retailer online catalog, OnlineJewelBox.com. OnlineJewelBox.com is Ostbye.com with the retailers name on it. Retailers can upload their logo, set their price mark-up and create their own subdomain.

OnlineJewelBox.com gives retailers and their customer’s access to thousands of Ostbye styles. Retailers can link onlinejewelbox.com to their current website, use on tablets or iPads and e-mail to customers. In addition, retailers can share it on print ads, social media and other marketing efforts.