Diamonds

Ringing In The New Year In The NY Diamond District

First and foremost, all of us at Firenze Jewels would like to wish everyone a happy new year and we hope that you and your family had a warm and pleasant holiday season. We’ve been hard at work preparing to release many bold initiatives for 2009, one of which includes a total rehaul of our website both inside and out. The new site is set to launch within the next few weeks. Our goal for this project has been to provide you with a more intuitive shopping experience while aiming to set a new web standard for the mid to high end diamond jewelry market online.

Speaking of luxury purchases, most New Yorkers have probably heard by now about NY Governor David Patterson’s controversial tax hike proposal. Part of his plan calls for an additional 5 percent tax on jewelry priced over $20,000. A recent article in the New York Post mentioned that a woman named Lisa shopping in the NY Diamond District was admiring a $48,000 necklace at Firenze Jewels and was concerned about how the proposed tax increase would affect her purchase.

We’d like to take this opportunity to remind our fellow patrons that Firenze Jewels continues to be one of the top places to find the greatest deals on diamond jewelry in New York City and in the world. In fact, many people may not realize that nearly 70 percent of the pieces in our showroom are priced below $5,000 even if most retail elsewhere for double that amount. Please stay tuned for the many changes to come shortly and know that we always warmly welcome your feedback.

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Gemstones continue to show strength as investments

As investments in Real Estate and stocks continue on a downward spiral, many are realizing that a girl’s best friend may also be her best investment.  Very high quality diamonds and other gemstones have a lot of investment appeal if one takes into account global trends in the coming years.  The fact is that wealth is being distributed more widely in our global world, but at the same time mines are being depleted of fine quality stones.

Antoinette Matlins is the author of “Jewelry & Gems: The Buying Guide.”  She says “The cost of the finest emeralds has increased approximately 75% over the past 2 years, rubies about 70%, and sapphires over 60%.”  She notes that wealthy individuals in the Middle East and China are increasingly interested in purchasing top quality gemstones, and their habits go a long way in explaining why prices are moving up.

Investing in gemstones requires a tremendous amount of expertise.  Stories of tourists trying to buy gems from individuals near mines in places like the Golden Triangle in Thailand are infamous.  Scores of people have been swindled while outside their home countries because they think their hobby or amateur knowledge is good enough to identify quality when buying from individuals at seemingly immense discounts.

If you want advice on what gemstones are most likely to increase in value, ask one of the experts at Firenze.  Test our salespeople’s knowledge and you’ll see they are some of the most educated in New York when it comes to high-end gemstones.  Our reputation comes from our genuine commitment to each and every person that approaches us for advise.