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A plan for pulling in customers on Black Friday

(Nov 17 ‘14, National Jeweler)
Albany, N.Y.–With a little more than a week to go until Black Friday, Northeastern Fine Jewelry has a plan to compete with the big-box mania of the day, and it involves a camera and a television.

The retailer, which has two stores in New York state and one in Vermont, is marking Black Friday and Small Business Saturday by offering spend-and-receive deals on both days at all three of its stores. Small Business Saturday is a day designed during the holiday season to celebrate, and encourage consumers to shop at, small locally-owned businesses.

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Bonhams to Auction Collection of 16 Flawless Hearts and Arrows Diamonds

(Nov 17 ‘14, JCK Online)
Bonhams will auction a rare collection of 16 flawless hearts and arrows diamonds on Nov. 26 in Hong Kong.

The collection features 16 D-color, internally flawless brilliant-cut diamonds, which weigh a total of 39.98 cts. Each diamond ranges from 1.16 cts. to 4.49 cts. Hearts and arrows refers to the symmetrical light pattern produced from precision-cut round diamonds.

The collection, which will be sold complete, is estimated at $2.25 million-$2.5 million.

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Record sale lands famous ruby back in Graff hands

(Nov 14 ‘14, National Jeweler)
Geneva–Laurence Graff purchased the 8.62-carat “Graff ruby” for a second time at Sotheby’s Wednesday, paying $8.6 million and setting a new world auction record price for a ruby.

In addition, the sale also raised the price-per-carat record for a ruby to $997,727.

Sotheby’s Nov. 12 “Magnificent Jewels and Noble Jewels” sale brought together a group of exceptional jewels and gems from the collection of Greek financier and gem collector Dimitri Mavrommatis, as well as a number of pieces with a noble provenance. The ruby was one of the pieces that belonged to Mavrommatis, having bought it from Graff after it was purchased at auction eight years ago.

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Index tracking fancy color diamond prices launched

(Nov 13 ‘14, National Jeweler)
Tel Aviv–A new global organization launched Wednesday that will focus on tracking prices and supporting sales of fancy color diamonds, particularly yellow, pink and blue stones.

Initiated by third-generation diamantaire Eden Rachminov, managing owner of Rachminov Diamonds and author of The Fancy Color Diamond Book, the Fancy Color Research Foundation, or FCRF, is a nonprofit global membership organization. The focus of the organization is primarily the commercial side of colored diamonds, the pricing and selling, and not the gemology.

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‘Blue Belle’ rings in record sale for Christie’s

(Nov 13 ‘14, National Jeweler)
Geneva–Christie’s recent Magnificent Jewels sale set a new world record for a jewelry auction at $150.2 million, led by a 392.52-carat sapphire that was a record-setter itself.

Called the “Blue Belle of Asia” and set in a diamond necklace, the cushion-cut Ceylon sapphire realized $17.3 million, or $44,063 per carat. Its sale established a new world record price for a sapphire at auction.

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The best ways to handle online complaints

(Nov 13 ‘14, National Jeweler)
New York–Whether it’s about one’s business or private life, it is a universal truth that nobody likes receiving negative reviews.

Unfortunately they are out there, with the Internet providing a cloak of anonymity for “trolls”–people who post comments or reviews for the sole purpose of starting arguments, not because they actually have an opinion about the subject or service–and others who wish to post damaging statements under false pretenses.

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William Goldberg Loses Stolen-Diamond Case

(Nov 19 ‘14, JCK Online)
A New York federal court judge has ruled that a local couple can keep a 7.35 ct. pear-shape diamond, even though it was garnered illegally from William Goldberg Diamond Corp.

According to an opinion issued Nov. 17 by Judge Shira Scheindlin, the Goldberg company consigned the stone to celebrity stylist Derek Khan in Feb. 2003 for use in fashion shoots. The agreement said Khan was authorized to sell the diamond only if the owner approved the sale. When the diamond was not returned after the customary few days, Goldberg filed a police report and notified GIA, the opinion said. Khan later went to jail for pawning $1.5 million in jewelry he borrowed for shoots, according to The New York Times, which reports he has since mounted a comeback as a stylist in Dubai.

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Rocks On: Green garnets lead the way

(Nov 10 ‘14, National Jeweler)
New York–Though the traditional red shades of garnet, especially pyrope and almandite, are the most common and readily available, it’s the exceptional greens of tsavorite and demantoid as well as the orange of spessartite and the raspberry shades of rhodolite that really are catching the eyes of buyers today, both on a retail and consumer level.

There is a wide number of garnet species, and according to the Gemological Institute of America’s gem encyclopedia, no garnet is ever pure in nature, meaning that often the species mix to create varieties with a wider range of colors and characteristics.

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How to sell online, legally

(Nov 10 ‘14, National Jeweler)
New York–The Jewelers Vigilance Committee has released a legal compliance guide designed to help designers, jewelers and anyone else who engages in e-commerce at either the retail or wholesale level.

The “Guide to Selling Jewelry in the 21st Century: Legal Compliance for Designers, Independent Jewelers and Online Sellers” was sponsored by the Future of Design Jewelry Education Fund, created by Cindy Edelstein in The New York Community Trust.

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At Pandora, focus continues to shift inward

(Nov 12 ‘14, National Jeweler)
Copenhagen, Denmark–Pandora will open a greater number of concept stores than originally planned this year with a particular emphasis on company-owned and -operated stores, it said Tuesday when reporting third quarter results.

In August, Pandora announced that it was buying the 27 concept stores owned and operated by Hannoush Jewelers for $28 million. The company said it was “refreshing the network” in the Northeastern U.S. due to slumping sales.

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