If you lose jewelry at the beach this summer, chances are it will not stay buried in the sand. In contrast to years past, amateur “treasure hunters” will have a much easier time locating your lost gold necklace or ring. Technology advances, as well as falling prices from higher production numbers, mean the metal detector of 2008 does far more for much less. A “hobby” metal detector ten years ago could help you find tin cans. Today, for a similar price a detector can find small jewelry items, sometimes worth over $1000. Machines today can detect the difference between platinum and gold. Furthermore, the high price of gold and shaky economy makes hunting for gold objects particularly attractive this year.
If you are forgetful, and leave a ring or bracelet under a beach blanket, chances are you won’t find it the next day; regardless of whether it’s still there or a treasure hunter found it after the beach goers left for the day.
There are, however, plenty of stories of good Samaritan treasure hunters who find identifiable items they return to owners. Vietnam veterans have been reunited through finds of their class rings and dog tags.
Rosy Blue, an industry leader in the world diamond market, said that growth in sales to the Gulf Arab region increased by $120,000,000 last year. This is a 57% increase over 1996. For this year, the firm is looking grow $250 mm.
Most people know the (UAE) is a rising star economically, particularly Dubai city. In an age where China and India take the spotlight for the massive size of their growing economies, smaller countries and regions can get overlooked. The UAE economic story is remarkable from every angle. The Emirates’ luxury goods sector is expected to grow to $100 billion by 2010. It is the market for diamond jewelry that is clearly most responsible for the rising sector. “Diamond jewelry sets are particularly important to the region,” DTC Gulf Markets marketing director Jonathan Chippindale says. “In addition to being unique to the Arab world, sets represent a 55 percent value share of all diamond jewelry sales there and, at an average price of $6,000 per diamond jewelry set, they signify an important growth area for the Gulf market.”
Much of the increase in disposable income is due to the dizzying heights crude oil prices are maintaining. Diamonds have a premium over gold in the Dubai emirate state, as consumers believe they make better investments.
Do not give a “secondhand” engagement ring to someone! If it was a family heirloom that’s different of course. If you’ve given that heirloom to numerous wives from numerous prior marriages, and your soon to be fiancé will probably guess that, think twice. Engagement rings have far more meaning to most women than wedding rings. Remember that, as girls, diamond rings stand along-side princes in storybooks and represent all that is love.
No one wants to think about the history a ring had on the finger of a former fiancé or wife.
Educate yourself about ring styles and fashion on at least a simple level. “American consumers favor the largest rocks possible, as demonstrated by Hollywood starlets,” Ruth Donaldson, the UK manager of Platinum Guild International says. “British consumers are still living up to their more austere reputation. Ladies like a better class of diamond and lean towards the best metals being used to secure their jewels. It is strongly felt by brides that their fiancés are getting it wrong if they are just selecting the biggest rock.”
In just eight days, the largest diamond to be seen in any worldwide auction will be offered by Cristie’s “Jewels: The Hong Kong Sale“. It is expected to sell for over $6,000,000. It was cut from a 460 carat rough to create the 101.27 carat stone, was given an F color rating by GIA, and is internally flawless.
It is a telling sign that the gem is being sold in the region where economic growth is moving at a massive pace. “Only 3 colorless diamonds of over 100 carats have ever appeared at auction, all sold in Geneva.” says Francois Curiel, Christie’s Chairman of Jewelry. The May 28 auction will sell 345 lots and is expected to achieve in bring revenue of $56 million.
In 1993, a National Jeweler’s study discovered that over forty percent of consumers planned to buy a diamond that was at least one carat. A year later, a large study sponsored by Conde Naste showed the average cost of a wedding ring was $3,576, amounting to sixteen percent of what an average couple spent on their wedding. More recently, DeBeers’ found that four of five brides are given diamond engagement rings.
The diamond engagement ring finds its origins with the marriage of Maximilian I to Mary of Burgundy in 1477. In modern time, It was unusual to find diamond rings prior to 1870. From that point on, and initially because of large discoveries in South African mines, diamond jewels became increasingly popular until the Great Depression caused a huge drop in the numbers of marriages. DeBeers was the driving force in making diamonds hugely popular, and their success landed just after the end of World War II. Their moto, “A Diamond Is Forever” is still a mantra for why diamonds are such an important part of a marriage as we move beyond 2008.
The spring style magazines covering fashion talked a lot about necklaces, using words like “big, bold, bright, and daring” to highlight the most important trends. Necklaces are statement pieces this spring and going into the summer. There were bold necklaces shown in the Elle’s photo coverage of Fashion week. Vogue also pointed out that the cost of jewelry now looks very attractive compared to the “skyrocketing” prices of clothing. High end jewelry is selling at a brisk pace.
Mark Aldenderfer with the University of Arizona, Tucson made an astonishing discovery at an archaeological site in 2004. Just this month he went public with information about his find– the oldest gold artifact ever unearthed in the Americas. The necklace is about 4000 years old, and was found in Jiskairumoko, Peru, the site of ancient hunter/gatherer groups.
The find shows that jewelry was used to differentiate wealth and prestige prior to the development of complex societies in South America. It is commonly thought that only sedentary societies built up more material wealth than they can consume. The people living in this area were always passing through, not settling.
The gold cylinders on the necklace weigh 5.2 grams and measure from 0.4 to 1.1 inches. They are mixed with 11 turquoise colored beads. The piece was made by using gold nuggets pounded by mortar. Flattened sheets were rolled around a tube.