COVERSTORY. Sethi True Romance Rings, Pala International INTERNATIONAL JULY 2011

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1 COVERSTORY Sethi True Romance Rings, Pala International Exhibitors were pleased to welcome buyers returning to the show after a three-year hiatus. Business was back to normal just like old times, reports Deborah Yonick. 52 INTERNATIONAL JULY 2011

ABRV, Stuller new venue for the annual JCK Las Vegas Show at Mandalay Bay, after 20 years at the Sands Convention Center, marked a sea change in global jewellery market trends.

The mega trend in jewellery design: innovate!

from Hong Kong, India, Brazil, Mexico, Russia, Thailand, Australia, the United Kingdom, and Canada. The biggest criticism about the new JCK venue, next to signage issues, was its massive size.

But the colour-coding was not carried out in the halls. The premier spaces for groups like Plumb Club were well marked. And, we were happy AGTA s ballrooms were on a human scale and easy to navigate.

I came to the show with a question mark in my head and left with an exclamation point, touted Avi Raz of the Los Angelesbased A&Z Pearls, who noted his strongest show in 20 years.

Regarding the Couture Show at the Wynn, exhibitor Jeff Feero, managing partner at Alex Sepkus described the atmosphere like 2006 all over again.

2 ABRV, Stuller new venue for the annual JCK Las Vegas Show at Mandalay Bay, after 20 years at the Sands Convention Center, marked a sea change in global jewellery market trends. The overall mood was upbeat, optimistic and serious, as buyers who knew what they wanted bought it when they found it. Fine and funky gems and jewels topped shopping lists. The mega trend in jewellery design: innovate! Preliminary numbers from JCK indicate a double-digit increase of 16% in attendance with over 20,000 buyers representing all retail and distribution channels, including an increase in foreign buyers from Hong Kong, India, Brazil, Mexico, Russia, Thailand, Australia, the United Kingdom, and Canada. The biggest criticism about the new JCK venue, next to signage issues, was its massive size. People had a difficult time negotiating the venue, said Jack Lynch, owner of Sea Hunt Pearls, San Francisco. On the maps, sections were colour coordinated. But the colour-coding was not carried out in the halls. The premier spaces for groups like Plumb Club were well marked. And, we were happy AGTA s ballrooms were on a human scale and easy to navigate. By and large, exhibitors gave a thumb s up to JCK Show promoters for a smooth transition. I came to the show with a question mark in my head and left with an exclamation point, touted Avi Raz of the Los Angelesbased A&Z Pearls, who noted his strongest show in 20 years. He commended promoters for effectively marketing the show to qualified buyers, citing a high percentage of legitimate jewellers on the show floor than other fairs draw. Regarding the Couture Show at the Wynn, exhibitor Jeff Feero, managing partner at Alex Sepkus described the atmosphere like 2006 all over again. There was a palpable energy in the room, and an attitude at the counter with clients chomping at the bit to get in. It was business like it used to be solid! Echoing the sentiment of many buyers at Couture, Susan Fotos of Higashi Pearls and Fine Jewelry in Lemoyne, Pennsylvania said: I come to this show because it s intimate, and it s about special designs that are both on trend and wearable, and that s what my customers want. At both JCK and Couture, exhibitors were pleased with sales, in some cases surpassing their historic highs, and were even happier with exposure to fresh customers. The best part of a great show for us was the new people we met, cheered Niveet Nagpal, vice president of the Los Angeles-based Omi Gems. Concurred Lynch: We picked up a lot of new customers, that s always a sign of a successful show! My retailers have a core group of people with an unlimited pocketbook. If they re mesmerised and delighted, they buy. Many jewellers, who took a year or two off from buying in Vegas during the recession, were back and ready to buy. Retailer Judith Sherry McNelis of McNelis & Sherry Fine Jewelers, Haddonfield, New Jersey, was happy to return after a three-year hiatus, ready to fill in basics and find new things to excite her customers, particularly in the $1,000 to $1,500 retail price range. We re easing up from some of the lower price points we had been carrying during the recession, she said. We re excited to find new designer lines at the show. Finer things Exhibitors selling fine gems and pearls say the high-end market is as solid as a rock. Designer Paula Crevoshay from Albuquerque, New Mexico described her 53

COVERSTORY Next to diamond, yellow sapphire is the most popular gem in the Indian culture because of its astrological significance as a stone for prosperity company s bottom line at Couture and in

My retailers have a core group of people with an unlimited pocketbook. If they re mesmerised and delighted, they buy.

the extra benefit of jewellery s portability. In the past three years the high-end market has stayed strong and grown, she said. America s wealthy is spending more than ever before.

In fact, her latest collection in colourful jade, Chinoise, is inspired by the centuries-old Chinoiseri style, but with a modern western twist.

3 COVERSTORY Next to diamond, yellow sapphire is the most popular gem in the Indian culture because of its astrological significance as a stone for prosperity company s bottom line at Couture and in general as soaring to a level she hasn t seen in the 30 years she has been in business. I can sell a $50,000 piece easier than one for $5,000, she explained. My retailers have a core group of people with an unlimited pocketbook. If they re mesmerised and delighted, they buy. Although the industry avoids terms like investment when selling jewellery, Crevoshay said her collectors view her wearable art in the same way they do real estate or fine paintings, but appreciate the extra benefit of jewellery s portability. In the past three years the high-end market has stayed strong and grown, she said. America s wealthy is spending more than ever before. She also sees rising demand from a global audience; more Asian and Middle Eastern clients are collecting her work now. In fact, her latest collection in colourful jade, Chinoise, is inspired by the centuries-old Chinoiseri style, but with a modern western twist. Emerging markets, particularly China, have demonstrated an insatiable appetite for fine gems and jewels. Many vendors of loose and finished gem-set jewellery identified some of their best customers from Mainland China, as well as Hong Kong, Thailand, and India. Dealers reported tourmaline as a favourite for Chinese buyers, who were scooping up all they could find, as the gem is highly prized in their culture for its use by the royal family during the Qing Dynasty. There is also a run on natural yellow sapphire fuelled by Indian buyers, according to Ron Rahmanan of Sara Gem Corp., New York City. Next to diamond, yellow sapphire is the most popular gem in the Indian culture because of its astrological significance as a stone for prosperity, he explained. Our stock is the lowest it s been in 25 years. In general, Rahmanan attributes the difficulty US dealers are experiencing to compete for goods on the global market to the combined buying power of markets like China and India. You show up at a mine source and buyers from China are already there with a suitcase full of money. Undisputed, top quality gems were selling without hesitation, including alexandrite, spinel and zircon. Important sales of large blue sapphire, padparadscha sapphire, and Paraiba tourmaline made the show successful for Ed Boehm, president of RareSource, based in Chattanooga, Tennessee. He noted, as other gem dealers did, that ruby sales are slow. Part of the reason, he attributed to the lead glass-filled ruby controversy and disclosure issues for significantly treated stones, some of which are not standing up like ruby to simple bench tasks. Moreover, Rahmanan noted that since the US embargo on Burmese gems, Sethi Channel Bands, Kaiser Gems, PaulaCrevoshay, Yael 54 INTERNATIONAL JULY 2011

Kaiser Gems, Sethi Channel Bands, BELLARRI Madam B Ring, Omi Spectrum including ruby, the market is slow to accepting another source.

The price and quality for stones up to 10 carats offer tremendous value. Cuts & colours Speciality cuts and unique gem material were also in demand in Vegas.

Known for its custom cutting, Kaiser Gems with offices in New York, Los Angeles, Hong Kong, Bangkok, and Brazil have been selling their speciality cuts like gangbusters.

combinations like rose de France amethyst over hematite, confetti rock crystal, and honeycomb-cut cabochon gems. She reported strong business, as companies were looking for signature items.

Honeycomb Cut, inspired by six-sided stained glass patterns, altering pentagonal facets with triangles; Extraterrestrial Step Cut that mixes modern concave cutting with an antique step; double

4 Kaiser Gems, Sethi Channel Bands, BELLARRI Madam B Ring, Omi Spectrum including ruby, the market is slow to accepting another source. But he hailed production of ruby from Mozambique as a great substitute with material displaying clarity, although supply is limited. The price and quality for stones up to 10 carats offer tremendous value. Cuts & colours Speciality cuts and unique gem material were also in demand in Vegas. Jewellers looking to distinguish their offerings gravitated to merchandise with added value in different design approaches or with interesting background stories. Known for its custom cutting, Kaiser Gems with offices in New York, Los Angeles, Hong Kong, Bangkok, and Brazil have been selling their speciality cuts like gangbusters. Reporting its best show ever, Kaiser s Bella Campbell said all the company s designer cuts sold well, most notably its random-shaped flat table-cut in different quartz varieties, gem doublets in combinations like rose de France amethyst over hematite, confetti rock crystal, and honeycomb-cut cabochon gems. She reported strong business, as companies were looking for signature items. The gem-savvy jewellery brand, Le Vian of Great Neck, New York, also showcased custom cuts in its latest lines that not only pop colour, but also add texture with unique play of light: Parisian Honeycomb Cut, inspired by six-sided stained glass patterns, altering pentagonal facets with triangles; Extraterrestrial Step Cut that mixes modern concave cutting with an antique step; double scissor Star Cut, mixing diamond facets for the table and crown with elongated triangular facets for a starburst effect; and Roll Top French Cut, characterised by a square or rectangular table with dramatic dropping facets at the corners. Moreover, Swarovski, the Wattens, Austria-based stone brand, launched its new Contra Cut that casts a complex interplay of light; and Marcasite Rose Cut with a 24-facet crown. The concept of speciality cuts also translates in pearls, expressed by the San Francisco-based designer Chi Galatea Huynh, of Galatea: Jewelry by Artist in his latest Queen Beads Collection. Capitalising on America s obsession with interchangeable bead jewellery, the new line includes 39 dramatic hand-carved pearl bead designs in black South Sea, and white and peach Chinese freshwater cultured pearls, mm sizes, with silver cores. Suggested retail prices start at $112.5 for a South Sea Queen Bead and $45 for a freshwater. If it s not fine or super rare, the next criteria for a bestseller these days is that it s interesting, different or exotic, described Bill Heher, owner of Rare Earth Mining, who had his best show in 20 years selling drusy gems set in Brazilian wood or sterling silver designs. He also did well with meteorite for men s cufflinks and women s pendants and earrings; obsidian infused with bronze; and opal from new production in Arizona s Santa Rita Mountains, striped in shades of pink, grey, white, and blue with flashes of fire. He even sold out of 20-year-old stock he had of golden quartz from the original Sixteen to 55

COVERSTORY With young people in China having Western engagements, they ll start to consume tonnes of diamonds. India also has a rising middle class and a billion people One Mine in California.

5 COVERSTORY With young people in China having Western engagements, they ll start to consume tonnes of diamonds. India also has a rising middle class and a billion people One Mine in California. Heher said that unusual gems affordably priced between $65 and $200 wholesale gave jewellers something beautiful and different to sell for a healthy profit while maintaining attractive prices for value-seeking consumers. He cheered that awareness has risen for a greater variety of gems that were not well known just a decade or two ago, but thanks to the highly connected, 24/7 lifestyles, were now selling as much for their beauty as the stories behind them. This reality translated well for Columbia Gem House and its Gem America Collection. Demand took off for the line that features 19 natural, untreated stones, including a variety of agate, jasper and quartz, unusual gems like bertrandite (lavender to purple opalized fluorite from Utah), rhodonite (rose to red silicate from Colorado), and variscite (green to light blue phosphate mineral that resembles turquoise and is found in Utah). They also fit in with the Vancouver, Washington-based company s fair trade protocols in its gemstone supply chains. According to marketing director, Earl Allen, more jewellers and designers are seeking out its Fair Trade Gems. From Tiffany to QVC and others in between, Columbia Gem House is developing programmes unique to each outlet. Diamond scenario The shift among designers towards using silver and coloured gemstones in their jewellery is in large part to offset skyrocketing diamond, gold and platinum prices. In his annual state of the diamond industry speech at JCK, Martin Rapaport, chairman of the Rapaport Group, called the new normal no normal in a world where the United States is not top dog in the diamond and jewellery industry, as explosive growth in China and India drives up diamond demand and prices. This means diamond demand will grow in these rapidly developing nations at a faster rate than in America and it s possible we re going to see Chinese and Indian companies paying higher prices for diamonds than American companies can afford, Rapaport said. Currencies are also changing. The dollar s getting weaker, as foreign countries grow at a faster rate and export more diamonds and do more business. He advised US jewellers buy back diamonds from customers to access goods at better prices. US retailers are already starting to pay higher polished prices, as Far East competition for scarce goods heats up. Dealers at JCK reported that US buyers focused on 0.5-carat to 1.50-carat stones, while international buyers, particularly from China, bought a majority of large stones in 3- to 5-carat range. Demand is reportedly strong for SI clarity, and smaller mainstay Indian goods, with shortages in certified goods, and lower colours in 1-carat stones. It s getting very interesting these days as the US is slowly losing its status as the world s largest consumer of diamonds to China and India, jeweller Ron Samuelson, of Samuelson Diamonds, Baltimore, Maryland tweeted after the show. With young people in China having Western engagements, they ll start to consume tonnes of diamonds. India also has a rising middle class and a billion people. The Indian diamond dealers are paying big money for stones and buying up as much as they can, often for very high prices. Even melee prices are rising. We re getting paid well for it, and the big stones are moving for big premiums. A nod to the significance of India, largest diamond producer in the world and fastest growing consumer market for diamonds, Rapaport Diamond Report launched in Vegas its price list in rupees to serve Indian jewellers who trade in diamonds and want price information in their local currency. Rapaport, in his speech, advocated future success in business lies in supporting Willow Creek Jasper 58 INTERNATIONAL JULY 2011

Galatea.QB Queen Necklace and Faith Bangle, Pala International free, fair and transparent markets. The United States is becoming much more aware and sensitive to social issues.

Jewellers are expected to maintain high level of ethics when selling their products. They need to know exactly who their suppliers are and where the products are originating.

As the industry breaks from its nostalgic yearning, the new focus in jewellery will be on innovating creative approaches for the future.

As we move out of a period of consolidation and classicism, heightened awareness will motivate design to explode with innovation, characterised by technical and artistic wizardry, described Nancy

6 Galatea.QB Queen Necklace and Faith Bangle, Pala International free, fair and transparent markets. The United States is becoming much more aware and sensitive to social issues. The fundamental idea that you should be responsible for what you buy is as much an issue for consumers as it is for the diamond and jewellery trade. Jewellers are expected to maintain high level of ethics when selling their products. They need to know exactly who their suppliers are and where the products are originating. Design motifs In its annual trends report, Gem Visions, Swarovski shared its forecast during the JCK Show, calling for a watershed in the evolution of contemporary jewellery design for As the industry breaks from its nostalgic yearning, the new focus in jewellery will be on innovating creative approaches for the future. The main spirit that will drive design is described as neo-tradition, a radical integration of past, present and future that offers a new definition of heritage. As we move out of a period of consolidation and classicism, heightened awareness will motivate design to explode with innovation, characterised by technical and artistic wizardry, described Nancy Leach, public relations and senior consultant gem creative for Swarovski. This new design language embraces and integrates past traditions through ingenuity, innovation and breathtaking creativity, all underlined by profound emotional values. This direction is already in play among innovative jewellery makers, and will continue with gusto through the decade. George Sawyer, known for his artistry in the Japanese metal layering technique known as mokume gane, believes the recession has inspired more designers to seek alternative materials and high tech solutions to control costs and expand options, especially given high precious metal prices. He noted that different metal mixtures and colour coatings are catching on, especially among young designers with limited funds for materials. Sushil Golay, president of Liberty Gems in New York and of the Indian Diamond and Colored Stone Association, confirmed a shift in demand from gold to silver and now to a variety of alternative metals set with colour to fit certain retail price points, most notably the $149 to $199 range. Golay, who works with major retailers, said that colour stones afford a bold look for a big value. What s in Jewellery trends gleaned on the show floor include a greater use of colour stones in designer silver and bridal collections. Among the fashion colour combinations in for the coming season are blue and green and blue and purple, raspberry and chocolate, and orange, cinnamon, cognac and champagne. Texture is key in metal work (think hammered, etched, contrasting matte and polished finishes) and gem surface like drusy and rough crystal. Also more pervasive: gem slices, unusual shapes and colours in pearls, and rose gold in both fashion and bridal. In both these segments, colour diamonds rule, especially in brown shades and black and white combinations. White diamonds outside of bridal jewellery are secondary to colour, and are being used to accent large coloured gemstones. Because of the popularity of these diamond colours, gold colours, most notably rose and black rhodium, are important in fashion and bridal collections. Popular fashion jewellery styles in diamonds include long, layered diamond chains, stackable diamond bands and bangles, and diamond hoops. Barbara Heinrich, a designer from Pittsford, New York, encapsulated what women want in jewellery by describing what she strives for in her line: The mindset is to create jewellery that is wearable, casual luxe, subtle statement pieces that are not so formal but still very special. She cited her faceted pyrite bead necklaces that are great for layering. Because of continual rising gold prices, she said she redesigned her brand to create lighter, more graphic pieces at affordable prices that do not skimp on style bringing more collectors in the fold. 59

2017 Benefit Auction Illustrated Catalog

Version 3 2017 Benefit Auction Illustrated Catalog New York Mineralogical Club, Inc. Watson Hotel (formerly Holiday Inn) June 14, 2017 Lot Viewing: 5:00 pm 6:00 pm Auction: 6:15 pm 9:00 pm Lot #1 Malachite