Diamonds & Engagement Rings News

Shares of online jewelry from Blue Nile Inc. fell Tuesday after a research analyst downgraded the stock to “sell,” saying the company’s very likely to be under pressure this year.

Mile shares declined $2.95, or 5.3 percent, to $53.16. In the past year has been trading between $36.66 and $106.16.

In a note to investors analyst Time Boyd changed his rating and lowered his target price for the stock to $40 which was once at $48.

“Our basic rationale is as follows: although men will almost certainly continue to purchase diamond engagement rings for their fiancees, they are on average likely to spend less than they might have a year or two ago,” he said.

Analyst attribute this to a lot of different factors, such as lack of job security and a decline in spending because of the slowing of the growth of the U.S economic statues. He has also noticed that high-end jewelry retailers such as Tiffany & Co., have been feeling lots of selling pressure since the most recent U.S recession in 2001.

Boyd had upgraded Nile’s stock to “Neutral” on January 16.

The analyst believe that a review of the 2008 estimate for the company are to high and said that increase in the share price since mid-January represent a good time to sell or make your shares smaller.

Since January 15, the stocks lowest close in 8 months, it has risen almost 9 percent.

With the Golden Globes running through press conferences this year and the Oscars broadcast still in question, Hollywood’s A-list overwhelmed the 14Th annual Screen Actors Guild Awards. Last night, dressed to impress in the most amazing diamond jewelry “power” earrings, bracelets and right hand rings.

Diamond power earrings, defined as very large diamond studs, diamond drops and diamond chandelier earring, were seen on numerous stars, including Kate Beckinsale, in diamond stud earrings, the Sopranos Edie Falco, in triple-drop diamond earring worth more than $250,000, and Desperate Housewives Teri Hatcher, in diamond flower pendant earrings.

Ugly Betty’s Ana Ortiz, was seen in diamond cluster earrings, a vintage diamond and platinum bracelet and a diamond and platinum flower brooch. Can you say “WOW.”

Valentine’s Day, The second most important day of the year for jewelry retailers, is approaching fast, and both men and women will be shopping around to buy gifts for their loved ones.

When asked “what is your idea of the perfect Valentine’s Day gift” the reply was diamond jewelry. However, even if they haven’t received it, almost 30 percent of women stated that in the past they have bought themselves jewelry gifts for Valentine’s Day.

Discover Card’s third annual Valentine’s Day shopping survey revealed that people planning to buy gifts this year will spend an average of $76.60 on gifts, with men spending almost double that.

In this survey, 34 percent said they plan to get their loved ones jewelry. While only 22 percent said they would like to receive jewelry. The most popular gift on the list was a very special dinner; 68 percent saying they they would buy dinner for their partner, and 57 percent saying they wanted to have dinner bought for them.

Men who are planning on purchasing a Valentine’s Day gift indicated that they would intend on spending an average of $92.80 down form last year, while women said they plan to spend on average 54.20 up from last.

Single people will on average spend more than a married couple; however every girl dreams of getting an engagement ring on Valentine’s Day. Eight-five percent said they would prefer to shop for a Valentine’s Day gift in the store, while only 22 percent said they would shop online.

According to the results if a national survey conducted online via Harris Interactive by Teleflora, the world’s #1 leading floral service offering the greatest choices in floral arrangements, men and women both agree about the best gift to be given on Valentine’s Day. 84 percent of women ages 18-34 chose diamond jewelry or roses as there number one best gift that comes to mind when thinking of this romantic holiday and surprisingly, 77 percent of men in the same age grope agreed. No matter what age the is, diamonds and roses never go out of style, being that 72 percent of men and 76 percent of women ages 45-54 selected diamond jewelry or roses as there number one gift that comes to mind when they think of Valentine’s Day.

So how do we decide what is the best way to show how we feel about that special someone in our life? The Teleflora survey found that:

• 46 percent of men consider roses as the best gift to give on Valentines Day.
• When given a list of the best Valentines Day gifts to receive, women selected roses as the best gift (32%); diamond jewelry as the second (29%); jewelry other than diamonds as there third chose (26%); and flowers other than roses as there fourth choice (24%).
• When men where given a list of what they would give there significant other on Valentine’s Day 53% choice roses, followed by flowers other than roses 39%; 34% of men said they would buy jewelry and 26% said they would give diamond jewelry to the ones they loved

The florist at Teleflora offer men what women want to make this year’s Valentine’s Day even more special than the past. Teleflora has be designing keepsake flower arrangements for the past 70 year, so they provide exactly what their customer’s desire. this year they are upping the stakes with an unexpected sweepstakes of Diamonds and Roses. The contest began on January 14 and will continue through February 29.

Every time an order is placed with Teleflora florist for either the Diamonds, Rose Bouquet, or the Diamond cut Bouquet on Teleflora.com, a game piece with an entry code will be included. Customers will than be able to see if they have instantly won one of 1,000 diamond pendant necklaces, valued at $149 from Zales Jewelers. Once registered you are than automatically entered into the grand prize drawing for a gorges pair of white gold, round-cut diamond earrings, with a retail value of $50,000. The lucky winner will be contacted via phone on or around March 15. �

A federal bankruptcy judge on Friday approved the sale of Boston-based Alpha Omega Jewelers, according to local media reports.

The troubled luxury jewelry and watch retail chain was sold to a consortium comprising of Tiger Capital Group LLC of Boston, The Gordon Co. of Ft. Lauderdale, Fla., and SB Capital Group of Great Neck, New York, the Boston Business Journal reports. U.S. Bankruptcy Court Judge William C. Hillman approved the sale Friday morning.

Under the agreement, the consortium will operate Alpha Omega Jewelers through the liquidation sale, the publication reports. Following the sale, the Natick Collection and Prudential Center stores will be re-merchandised and will re-open as part of the Ross-Simons jewelry chain. All of Alpha Omega’s current employees will be offered an opportunity interview for positions within the Ross-Simons organization.

The consortium is reportedly working with potential retailers to assume the leases of The Burlington and Cambridge locations, the publication reports.

It was reported previously that the consortium agreed to purchase the chain’s assets for $18.7 million, just over 70 percent of its value, from the LaSalle Business Credit arm of Bank of America Corp., which seized possession of Alpha Omega’s inventory on Dec. 22, a few days after the owner Raman Handa and their two grown children who work for the family business left the country without notifying relatives or business associates.

Company assets will be liquidated following a review of inventory, the publication reports. Court-authorized price reductions will be effective immediately. Alpha Omega’s entire multi-million dollar inventory of diamonds, fine jewelry, and watches will be targeted for immediate sale at all Alpha Omega locations, which are in Cambridge, Boston, Burlington, and Natick.

Liquidation sales at the four Alpha Omega watch and loose diamonds, jewelry store locations could begin as early as this weekend if a U.S. Bankruptcy Court judge approves the winning bid for the Cambridge company’s assets at a hearing tomorrow.

A joint bid by Boston-based Tiger Capital Group, the Gordon Co. and SB Capital was the top offer for Alpha Omega’s assets during an auction that ended late Tuesday. Court approval would allow them to buy Alpha Omega’s $18 million in assets for 70.25 percent of their cost value, or $12.6 million.

In addition, the three companies have agreed to pay $125,000 for Alpha Omega’s leasehold rights and intellectual property, which includes the Alpha Omega name, according to Michael O’Hara, Alpha Omega’s outside chief restructuring officer.

O’Hara was appointed after Alpha Omega filed for Ch. 11 bankruptcy protection earlier this month with $31.6 million-plus in debt, following failed attempts to supplement luxury watch sales by branching into higher-margin fine jewelry.

“While we are disappointed at the price that we were able to sell the company for, under the circumstances, we were not surprised by the value we got,” O’Hara said.

O’Hara said a tough retail climate and widespread publicity about Alpha Omega owner Raman Handa’s decision to return to his native India prior to his company’s bankruptcy filing - without notice to his financial advisors - and a $6.3 million inventory discrepancy stifled interest in the company’s assets.

Cranston, R.I.-based jewelery chain Ross-Simons has agreed to take over the leases of at least two of Alpha Omega’s stores, which are located in Boston, Cambridge, Burlington and Natick. Ross-Simons will operate the stores under its own name once the liquidation sales end, which is expected to be in May. It also has pledged to interview Alpha Omega’s 100 employees for jobs at the two stores and its other existing stores or headquarters.

Luxury jeweler Kwiat Diamonds will co-host the My Dove “Expressions of Love” Contest with Mars Snackfood

Three New York-based jewelry firms, owed a total of $9.1 million from Friedman’s Inc. are attempting to force the jewelry retailer into Chapter 7 bankruptcy. The group includes the U.S. arm of Rosy Blue, Paul Winston-Eurostar and Jay Gems Inc, according to AP.  

 Friedman’s owes, according to court documents, $6.3 million to two Rosy Blue associates, $1.9 million to Paul Winston-Eurostar and approximately $950,000 to two affiliates of Jay Gems. The three jewelers filed an involuntary Chapter 7 petition against Friedman’s, its second bankruptcy saga in the last three years.  

Friedman’s has 20 days to respond to the Chapter 7 petition, which is different from Chapter 11 bankruptcy in which the company reorganizes under the bankruptcy court’s supervision. In Chapter 7, a trustee is appointed to liquidate a company’s assets.

Jeweler Martin Katz and dressmaker Renee Strauss teamed up to create the most expensive wedding dress on record, featuring a stunning 150 carats worth of loose diamonds laced throughout the dress. The veil that is shown in the picture worn with the dress does sparkle, but it does not feature diamonds. Instead, the veil has some pretty rhinestones. But we figure, if you’re doing to drop $12 million on a dress, why not just have someone custom create a matching, diamond-laced veil? And while you’re at it, get some fancy diamond-studded shoes to add to the bling factor!

The dress hasn’t yet been sold, so if you’ve got your eye on it (as well as the $12 mil), Strauss and Katz would be more than willing to discuss a sale. Unlike other wedding dresses, this one will still have a high resale value after the wedding.

To see just how magnificent this dress is, check out the up-close photo after the break!

Thinking of selling diamonds or engagement rings on Craigslist Read this first.

SEATTLE — A Snoqualmie mother helped police in the arrest of a man Monday who is accused of stealing people’s engagement rings, reported KIRO 7 Eyewitness News.

Janet Barto said her son Brad had his engagement broken and wanted to sell the ring on the Craigslist Web site.

She said a man claiming to be a diamond broker purchased the ring for $5,200 but his check turned out to be a forgery.

An angry Barto started contacting others on Craigslist to warn them. One person said he was contacted by a similar man, so Barto had the Web site user set up a meeting with the man and then contacted Snoqualmie police.

The man and the alleged ring thief were set to meet at a Starbucks in lower Queen Anne while undercover police waited inside the building as well as outside in a truck in a nearby parking lot.

The police had waited 45 minutes when a man wearing a suit and carrying a briefcase arrived. The victim, Brad, identified the man and the task force moved in and arrested him.

The man could force fraud and forgery charges in court on Tuesday.

Investigators said they found several diamonds on the man but none of them was Brad’s.

Police said other victims may come forward.