Gotta dissagree with you on this one my friend. Sale might have sucked for GIA certed stones, but that would only push people towards AGS and other certs. The ladies will have their diamonds, with or without GIA!Date: 12/20/2005 12:05:03 PM
Author: strmrdr
Wonder how much they paid to keep it quiet till now.
A month ago and sales woulda sucked for the holidays for a lot of stores.
The way it is most of them will be allready purchased.
Trading diamonds rather than paper.....a correct concept. This whole situation gives me one more reason why I will continue to evaluate and grade my client''s diamonds BEFORE looking at any lab report.Date: 12/20/2005 3:00:21 PM
Author: mepearl53
Of what I''ve read the problem was with 4 people out of 700 employees. I agree with David that larger stones you might want to have inspected again. Most qualified gemologists should be able to evaluate a diamond to see if the stone in question along with the certificate matches. I can''t speak for all jewelers but we always check out the diamond and certificate. If I disagree with the grading I ship it back. With drop shipped diamonds this might be a problem but a good appraiser should be of help. Just over two weeks ago we sent a diamond that was re cut back to GIA for a new certificate. The stone was a GIA VS2 before and SI1 after re cutting. Go figure!
There will be lawsuits and some fall out but the industry will be better for it and better policed. Hopefully we will go back to trading diamonds rather than paper![]()
Date: 12/20/2005 4:05:12 PM
Author: Wink
Date: 12/20/2005 12:05:03 PM
Author: strmrdr
Wonder how much they paid to keep it quiet till now.
A month ago and sales woulda sucked for the holidays for a lot of stores.
The way it is most of them will be allready purchased.
Gotta dissagree with you on this one my friend. Sale might have sucked for GIA certed stones, but that would only push people towards AGS and other certs. The ladies will have their diamonds, with or without GIA!
Wink
Are you in the trade?Date: 12/20/2005 6:55:22 PM
Author: dialover
but being in and around the diamond business for my entire life, it is greatly disturbing to hear about these issues when so much of the industry has become completely dependent on ''trading the paper'' and not trading the diamond.
No desire to rain on your parade, but no, that is not big. Not unless it is pinkDate: 12/20/2005 2:02:19 PM
Author: bbb
When you say large stones, how large are you talking? Is 3 carats considered large?
Date: 12/20/2005 11:45:49 AM
Author: StevL
diamond industry rocked by allegations of bribery''
That is the headline on the FRONT PAGE of today''s Wall
Street Journal, there is also an article in today''s NY
Times as stated above.
Date: 12/20/2005 4:05:12 PM
Author: Wink
Date: 12/20/2005 12:05:03 PM
Author: strmrdr
Wonder how much they paid to keep it quiet till now.
A month ago and sales woulda sucked for the holidays for a lot of stores.
The way it is most of them will be allready purchased.
Gotta dissagree with you on this one my friend. Sale might have sucked for GIA certed stones, but that would only push people towards AGS and other certs.
What with so many companies (eg. Tiffany and Walmart) moving their jewellery production to Indian factories, the cost of jewellery is falling.Date: 12/21/2005 12:12:19 AM
Author: AGBF
What interested me was that diamond sales have grown so much! The CNN Money piece said that, ''sales of diamonds have been growing at twice the rate of the rest of the jewelry business''. Why?
Deb