jewellers – The Diamond Certification Laboratory of Australia (DCLA)

How accurate are jewellery valuations?

The accuracy of jewellery valuations can vary depending on several factors. Here are some key points to consider:

Appraiser’s expertise: The accuracy of a jewellery valuation depends on the competence and experience of the appraiser. A certified gemologist or a professional jewellery appraiser with relevant credentials is more likely to provide a precise and reliable valuation.
Purpose of the valuation: The purpose of the valuation matters. If the valuation is for insurance coverage, it may be higher to ensure full replacement in case of loss or theft. If it’s for resale, the value may be lower as it accounts for market conditions and potential profit margins for a buyer.
Quality of the jewellery: The quality of the jewellery, including the materials, gemstones, craftsmanship, and overall design, plays a significant role in its valuation. High-quality materials and precious gemstones will generally have higher values.
Market conditions: The fluctuating prices of precious metals and gemstones can impact the accuracy of a jewellery valuation. Market conditions change over time, so a valuation today might not hold the same value in the future.
Certification and documentation: Having proper documentation and certifications for gemstones and metals enhances the accuracy of the valuation. This information helps appraisers make more precise assessments.
Appraisal method: There are different methods for valuing jewellery, such as comparison with similar pieces, the cost to replace, or the intrinsic value of materials. Each method has its advantages and limitations.
Local market differences: Valuations can vary across different regions due to variations in consumer preferences and market demands.

It’s important to note that a jewellery appraisal is an expert’s opinion based on their evaluation of the item at a particular point in time. The value assigned to the jewellery may change over time due to various factors, including market fluctuations, changes in demand, or updates in gemstone grading techniques.

AcuVal Adds the consistency of repeatable outcome, this give you a credible and trusted valuation.

World Record Ring made of 50,907 Recycled Diamonds

Jewelers in India have shattered a world record with a ring made of 50,907 diamonds.

The Eutierria Ring has more than twice as many diamonds as the previous record holder, The Touch of Ami, with 24,679 diamonds. Both rings were made in India.

The new ring, created by H.K. Designs and Hari Krishna Exports, was certified last month by Guinness World Records as the ring with the most diamonds.

The ring took nine months to design and make, entirely of recycled materials – 460.55 grams of gold and 130.19 carats of diamonds all re-purposed from customer returns.

It is designed as a sunflower with four layers of petals, a shank, two diamond discs, and a butterfly.

It has been certified by IGI and has a retail value of $785,645, according to a press release issued jointly by both companies.

It takes its name, Eutierria, from a term describing a positive feeling of oneness with the earth.

Spurce: IDEX

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Jewelry Worth Millions Stolen from Brink’s Truck

US authorities are investigating a massive theft of jewelry from a Brink’s armored vehicle in California last week.

The truck was transporting goods to the International Gem & Jewelry Show in Pasadena, California, exhibition director Brandy Swanson told Rapaport News on Tuesday. The victims were 16 to 18 vendors. The contents included “high-end jewelry, watches and diamonds,” Swanson said.

The executive estimated the losses at $100 million to $150 million. Brink’s put the value at less than $10 million, according to media reports — a discrepancy explained by the practice of vendors underinsuring goods, Swanson noted.

“They all have invoices and paperwork to show the higher value,” Swanson said.

The theft occurred early on July 11, according to a spokesperson for the Federal Bureau of Investigation (FBI) in Los Angeles, which is investigating the case together with the Los Angeles County Sheriff’s Department.

On that day, deputies from the Sheriff’s Department station in Santa Clarita, California, were called to the “Flying J” rest stop and gas station in the mountain community of Lebec in response to the burglary of a cargo container.

They “learned that several pieces of jewelry and gemstones valued at several million dollars were stolen from a locked ‘Brink’s’ tractor trailer by unknown suspects,” the department said Monday in a report.

“According to the information the customers provided to us before they shipped their items, the total value of the missing items is less than $10 million,” Brink’s said in a statement quoted in the US media. “We are working with law enforcement, and we will fully reimburse our customers for the value of their assets that were stolen, in accordance with the terms of our contract.” The company did not respond to a request for comment from Rapaport News.

Source: Diamonds.net

China’s largest jewellery retailer backs mined diamonds

The Natural Diamond Council (NDC), which groups the world’s seven leading diamond producers, has inked a deal with China’s top jewellery retailer Chow Tai Fook to boost demand for mined rocks in the Asian market.

The partnership, the trade organization’s first collaboration with a retailer, seeks to attract young Chinese customers to naturally produced diamonds.

It also comes as Chow Tai Fook, which has more than 4,500 stores in East Asia and the United States, plans to expand its global footprint.

“One of our key priorities this year is to work closely with natural diamond retailers to protect and convey the authentic and unique beauty of natural diamonds together,” David Kellie, CEO of the Natural Diamond Council, said in the statement.

“I am confident that this partnership will solidify the values of and forge consumers’ desire for natural diamonds,” Chan Sai-Cheong, managing director (Mainland China) of Chow Tai Fook Jewellery Group added.

Earlier this month, the world’s biggest jeweller Pandora dealt a blow to diamond miners by announcing it would no longer sell mined gems, but exclusively man-made ones.

Since 2011, when prices peaked thanks to China’s younger shoppers, diamonds have faltered. Lab-grown stones, initially priced confusingly close to the real thing, posed a challenge.

The NDC, until 2020 known as the Diamond Producers Association, focuses on marketing mined rocks and its funded by its members: ALROSA, De Beers, Dominion Diamonds, Lucara Diamond, Petra Diamonds, Rio Tinto and RZM Murowa.

Source: mining.com

Jewelry Sales Down 54 per cent in Hong Kong

Sales of jewelry and other luxury goods in Hong Kong fell by more than half in July, according to new figures.

It was the worst affected sector of all, with a year-on-year decline of 53.7 per cent to $328m.

Sales were hit by the ongoing coronavirus pandemic, a two-week quarantine requirement for tourists from mainland China, and continuing anti-government protests.

Figures for the first half of 2020 show revenue from revenue from jewelry, watches, clocks and other valuable gifts was down by 64 per cent to $2.14 bn.

Total retail sales for all sectors were down 23.1 per cent compared with July 2019, at about $3.41bn, according to data released yesterday by the Census and Statistics Department of the Hong Kong Special Administrative Region HKSAR government.

Source: IDEX

The De Beers Retail division removes diamond from the name

De Beers public brand identity, has been renamed ”De Beers Jewellers” to reflect the companys retail chain.

De Beers acquired fully the formerly known De Beers Diamond Jewellers in 2017. Which was a partnership with LVMH Moët Hennessy Louis Vuitton.

The London headquartered retailer announced Stephen Lussier, as De Beers executive vice president for marketing in charge of the operation.

Jewelry Buyers Still Desire In-Store Experience

Consumers still prefer speaking with jewelers before making a purchase, despite the recent rise in online purchases, a survey has found.

Some 64% of people who bought jewelry visited a store to consult with an expert while deciding what to buy, according to a study released last week by Jewelers of America (JA). That’s 26% more than for other luxury items, the trade body’s online survey of 2,019 consumers showed.

Consumers who talk to a jeweler during the research process are also more likely to buy from a local store rather than online, the organization added.

“For consumers, seeing is believing, and they still rely on the expertise and knowledge of their jeweler,” said David Bonaparte, CEO of JA. “The jewelry shopping experience is different from other luxury purchases, and even in the rise of e-commerce, customers increasingly prioritize the in-store shopping experience.”

Even so, the brick-and-mortar trade is fearful of the impact of online sellers. In a separate JA survey of 257 of its members, spanning retailers and suppliers, 39% of jewelry retailers considered e-commerce to be their biggest competition.

However, only 34% of retailers surveyed actually have an online sales platform. At the same time, jewelers are working on improving their in-store experience by ensuring they have well-trained sales staff and high-quality customer service, the trade association added.

Jewelry self-purchasing is more popular for precious-metal products, JA found, with 56% of consumers considering gold jewelry to be a good choice as something to buy for oneself. Some 40% put sterling-silver jewelry in this category, while pieces containing diamonds and gemstones were more likely to be a candidate for gifting. Overall, 50% of consumers thought fine jewelry had sentimental value and helped to mark special occasions, JA said.

Source: diamonds.net