Argyle Pink Diamonds proudly announced the 2015 Hero Stones and they are stunning!
The 2015 Argyle Pink Diamond Tender will have viewings in Sydney, Hong Kong, New York and Perth. Bids close on October 21. The 2015 Tender, known as the “Connoisseur’s Collection”, comprises 65 diamonds weighing a total of 44.14 carats, including four Fancy Red diamonds, and is expected to attract global demand.
Below you will find a few excerpts from our panel seminar, the full video will be available in August via JCK.com
Rob Bates – As a retailer, How do you source them?
Sean Moore: As a retailer it is important to develop relationships with vendors who carry Natural Color Diamonds, some buyers don’t understand the importance in sourcing color. It took me about 5-6 years to learn who the players were, who owns what products and which of them were treating me fair.
Rob Bates – As a designer, what have you learn from the customers?
Pratima Sethi: What i find fascinating is the educational factor for consumers and how long it has taken them to understand color. 5-6 years ago customers were just intrigued and weren’t aware of the vast color shades available. Today consumers are becoming more sophisticated, it’s all about design and personalization when it comes to purchasing these diamonds.
Rob Bates – Are customers asking about certain colors?
Jordan Fine: There is a growing interest in natural color diamonds at the consumer level. For example it comes down to what is in the retail store, in the last 10 – 15 years consumers have seen yellow and browns at NCDIA’s retail stores. Consumers are on to color and retailers are starting to pick up on this by introducing new colors such as Pinks, Blues, Orange etc.
Rob Bates – Is there certain customers that look for color, who is buying them?
Pratima Sethi: It’s not necessarily a rich person, and that is what makes color diamonds great is that there is this range of price from affordable to valuable. And as a designer who works with Natural Color Diamonds, we need to break that notion that this product is not just for the wealthy but for everyone. They are beautiful, unique and obtainable to buy. You can attract a person early on with champagnes and build that business over time to go into yellow, pinks etc.
Sean Moore: The majority of the colors that we carry are brown, yellow and black, and customers who don’t want to spend the money on white diamonds can pick up a champagne diamond that can be more beautiful and affordable.
Rob Bates – How do you price the more rarer color diamonds?
Tom Gelb: There is no methodology to determine what color is, the grading system is quite complex. We can at least guide them to what direction.
Jordan Fine: Obviously for a color stone, i would pay more for a stone that is Vivid rather than a stone that is Fancy. Certain flavors have the WOW factor and it’s all about taste.
Pratima Sethi: There is ways of of taking advantage of the demand in color. Color diamonds are similar to art, with the large color palette.
Sean Moore: Some retailers look towards the auctions houses as a starting point for pricing and while that information is very valuable, i do encourage you to find the right vendors to work so you can find the best price. Your ability to get the goods is a big factor in pricing. There is an increased growth in interest from the consumer level . When customers hear a price of a blue, it’s very hard to market something that is not affordable to general public.
Rob Bates: Has the investment market in particular changed?
Jordan Fine: NCDIA does not endorsed investments as none of us can tell the price and future growth. However some stones have appreciated in value. In terms of investment, there is some issues to tackle.
Sean Moore: For us, investments are not for us.. We don’t endorse Natural Color Diamonds as an investment however we do show customers the growth when customers do ask us about this.
Rob Bates: There use to be a stigma against browns, do you still see this? And what about Yellow?
Jim Pounds: Fancy browns exudes warmth and they are very much in demand and yellows in there full range have developed to the retail level, they are just stunning. I don’t see any stigma against yellows.
Rob Bates: Lets talk about supply? Who will fill the gap with Pink once the supply of Argyle is complete.
Jim Pounds: From the Dominion Diamond Group, we don’t see any significant growth in production of Pink Diamonds, a few more yellows but it is a challenge to maintain supply. Argyle from what we know could extend to 2020 and beyond however with the economics it’s really the direction that Rio Tinto wants to take
Rob Bates: Lets talk about synthetics and new treatments.
Tom Gelb: The push from what i have seen has always been with white goods. With treatments it use to be people in their garages, however it’s a bit more complex now as “scientists” have been getting involved. But the ultimate goal for these guys are white goods.
AGS Conclave 2015 was another spectacular event filled with education and networking among a group of inspiring professionals in the world of jewelry.
NCDIA was invited back to educate it’s AGS membership colleagues in the world of Natural Color Diamonds. Our seminar topics this year were introducing retailers to an overview of Pink Diamonds and How To Sell Natural Color Diamonds. It appears that Natural Color Diamonds have created a strong interest in the last several years, with color being seen on the red carpet, advertisements and offered as an alternative to colorless diamonds. Retailers are more and more eager to learn sales tips that can help their businesses develop Natural Color Diamonds into their inventory and to grow potential sales.
In the first seminar Thomas Gelb, NCDIA Educational Director co-hosted a special overview on Pink Diamonds with Jordan Fine, NCDIA President:
Origin of Color
Type 1 vs Type 2 Pinks
Natural vs Treated, Synthetic and Gemstones
Natural Pink Diamonds are both affordable and valuable, it is important that we educate our sales teams to understand the differences in color ranges that Natural Color Diamonds come in.
What are some of the different price ranges that can be found in Pinks? In all Natural Color Diamonds, prices can vary, in the below chart you will find an example of pink diamond jewelry.
(Prices shown are an illustration of examples – Values subject to change)
Natural Color Diamonds have created a strong interest in the last several years, with color being seen on the red carpet, advertisements and offered as an alternative to colorless diamonds. NCDIA
Brownish Pinks… Light Brownish Pink, Intense Orangey Pink. Intense Pink Intense Purplish Pink…
On our second day, NCDIA offered AGS retailers an opportunity to learn directly from NCDIA/AGS Retail Members who have participated in In-Store Color Diamond Events, carry Natural Color Diamonds in-store and why including color can benefit there overall business.
John Carter – Jack Lewis Jewelers
I joined NCDIA as a recommendation from a friend/current NCDIA retail member, she advised that getting involved in color diamonds can offer a new exciting alternative to my product inventory. By becoming a member, Jack Lewis Jewelers we were quickly introduced to education, sourcing and new vendors. The impact has allowed me to host in-store events yearly, gain new product inventory and just train our staff with confidence in these beauties. You can offer a nice range of colors in your store from 5-50k.
Judd Rottenberg – Long Jewelers
We noticed with our sales staff when bringing in something exotic, they can be fearful if they are not familiar with the product. However it is very important to train and inspire your sales team, so they can understand what type of product is being brought in and have the right tools to work with them. With NCD’s we are starting out with browns and yellows and will slowly include them into our everyday inventory.