The Gembank newsletter – February 2012
Welcome to the February issue of the Gem Bank Newsletter.
Kung Hei Fat Choi, welcome to the Chinese year of the Dragon! This is considered to be the luckiest year in the Chinese Zodiac, so it should be a good year for all us entrepreneurs and business owners!
In the last few days the gossip mill has been running rife over the failed sale of what was dubbed the world’s largest emerald. The 57,500 ct. emerald, which was described as the size of a watermelon failed to attract a single bidder a few days ago at the Western Star Auctions in Kelowna Canada. Reagan Reaney, the dealer who put the stone up for auction stated that it was worth at least $1.15 million. However within days of the huge emerald appearing to the public, the stone was shrouded with controversy. Firstly Mr Reaney was arrested on charges of fraud, although the charges are not related to the emerald. Secondly a gemmologist who appraised the stone questioned the emeralds authenticity. So far, Western Star Auctions are still declining to comment! For the full story http://www.thegembank.com/resources/industry-news#5306
Olympic fever has started to claim a grip on the nation. Jewellery designs are starting to take on a decidedly patriotic feel with coloured gems of red white and blue. The popularity of all things Nautical has continued to rise throughout January using stark coloured gems of blood red, navy blue and sea green which are being set against the increasingly popular yellow gold.
According to a survey done recently by LIM College and the National Retail Federation Student Association 68% of 18-25 year olds are showing a preference for shopping in store. It seems that the search for the goods may initially start on line, but the point of sale is conducted in store after the jewellery has been tried on. This shows the importance of continued presence on the high street as well as on line in order to catch as many buyers as possible! For further information on this survey click here http://www.thegembank.com/resources/industry-news#5313
Another positive story within industry news was the Chinese New Year Celebrations. Chinese consumers once again went against the grain of customer hold back on spend and celebrated the Year of the Dragon festival in style by driving up sales this year by 16.2%. Gold bars, gold ingots and other dragon-themed jewelry ranking among the favourite items bought. For the full story click here http://www.thegembank.com/resources/industry-news#5330
After 20 years of hard work, Scotland’s first commercial Gold mine finally won approval last October. It will be dug near the banks of Lock Lomond and Trossachs National Park. It has been given permission to operate for 10 years and is thought to very lucrative containing about £50 million of gold and silver, it should be fully operational by summer 2013. This could prove very positive, not just for the local community in creating jobs but for the U.K jewellery industry as a whole as “source” awareness is becoming more and more prevalent with jewellery buyers. In other manufacturing news the BJA have unveiled its new logo for 2012 in celebration of its 125th anniversary. The logo has been designed to encapsulate the British Jewellery Industry both old and new. To view the logo click here http://www.thegembank.com/resources/industry-news#5332
Our Creative Year Planner is starting to gain momentum, with lots of you already signed on. January was about having a vision for your business. This month is about achieving goals. If you haven’t already signed on I urge you to do so. It is absolutely free and the benefits are well worth any effort you may feel is required. Feed back is already very positive and I don’t want anybody to miss out, you can register at the following address www.thegembank.com/yearplanner
Finally, we have updated our featured stones on the site to include a couple of my favourites. I love the 9ct natural cushion sapphire and the 5ct radiant brown diamond. Take a look and feel inspired http://www.thegembank.com/our-stones
Good luck to you all this month