Diamonds & Engagement Rings News

             “An economic forecast is only good if everything stays the same.” 

            The economy’s impact on jewelry can be studied once there is a clear picture of the overall economy. After much analyzing of the present economy, we find a drop in March, of 64.5 points in the Consumer Confidence Index. It has been the lowest figure in 26 years.

Gas prices keep increasing and are now heading to $4 a gallon. As the U.S. dollar stays weak and oil prices and the threat of inflation continue to increase, gold continues to increase as well. During March, gold reaches an amount of $1,038 per ounce, attaining a record but then falls below $1,000, which offers no prediction. There are those economists who say there is supposed to be a decline and others who feel they are in one already. The rate of April’s unemployed people is supposed to be higher than March. Consumers have started cutting down on spending, now giving recovery a greater chance.           

  This downfall of the economy is obviously affecting the jewelry industry as well, raising the amount of gold, diamonds and silver. Therefore, customers are forced to cut back on luxuries, while companies try to be kept from closing down.        

    Even when such extreme downfalls occur, jewelers just find it an “annoying part of the scene- been there done that.” Some jewelers, who tried and succeeded in taking the safer approach, cut down on payrolls, while others were forced to close down their companies all together due to bankruptcy.     

        During today’s society the Web has becomes a vital part of any marketing mix. The Internet has developed into the very source to almost anything that is done around the world. Whether it is, buying, selling, trading, communicating, browsing or anything else.

This is where we come in! Diamonds on Fifth makes it easier by having access to gold, diamonds, silver, engagement rings, loose diamonds, and more over the Internet. By having a website automatically, our company gets less affected by the outrageous downfall allowing our customers to continue shopping at the same steady costs.    

RAM-RAIDERS broke through the window of a high-end diamond & jewelry  store in Sydney yesterday, the managed to walk away with up to $5 million in rare pink diamonds.

The thieves used a white stolen four-wheel drive Nissan to smash through the back of the Mondial Neuman store in the 

 The store’s manager Michael Neuman said that this was carried out with “military-style precision”. Michael said he only had a vague idea of what had been stolen. “There were many substantial items of pink diamonds and other natural-colored diamond jewelry. It’s what we’re renowned for”.  

Right now Michael estimates the stolen jewelry to be worth anything between $2 and $5million. The good news he says is “There is still a lot of good stuff they didn’t get”. Staff members had just begun to open the business for the day when the car drove through the window. Luckily no one was hurt.

  Adam Selim, who works in the Queen

 The owners of the vehicle, Tony and Jenny Duddy, said it was stolen from their Drummoyne home. “We’re not all the sure on what time they came- some time in the middle of the night,” said Mr. Duddy, who was the one to discover the vehicle’s whereabouts after reading about the robbery on the Internet. It doesn’t look as if there is much damage according to the police and there was nobody hurt which is the most important thing. 

 A woman working next door to the jewelers saw the dramas unfold. “I was going upstairs to the stock room when I saw the car pull up,” she said. “ It mounted the curb and I just thought it was a bad driver. Then I saw a guy who was masked jump out of the back seat and move a café table out of the way. The car rammed into the window.” She said the man went back to the car to retrieve a bag out of the back seat before entering the store.    A security guard tried to stop the robbers by standing in front of their getaway car, a red Audi sedan. 

In today’s world it’s going around that more women are buying jewelry. For instance Pam McGinnis didn’t event think to drop $1,000 on a Lecil Henderson necklace from Sanders Jewelers in Pasadena. As well after her husband lost his first diamond wedding band she didn’t even flinch to buy him another one. She figures that if she’s working and she’s likes a piece  she is going to buy it.    Going back 25 years ago no jewelry purchase was made unless it was  by a gentleman.    

   Women are pulling more cash out of their handbags for loose diamonds and gold, experts say. Over the past two decades, they are taking on a greater role in the work place, as well they are really benefiting from the trend ,local jewelers say.      

Moshe from Diamonds on Fifth says that he estimates that about 30 percent of his sales came from self purchasing women last year. It shows that the growing demand  shows a social shift that more women are moving up and bringing home higher salaries. Women are expected to make up 48 percent of the labor force by next year. (U.S. Bureau of Labor Statistics says) .That is up from 45 percent in 1988.      

   Larry Sanders, President of Sanders Jewelers estimated that  between 30 percent and 40 percent are self- purchasing women.      

   Ms. Schupak stated that ” the traditional perception has been that men buy jewelry for women period”.      

   Back into the late 1980’s and early 1990’s women are purchasing two-thirds of all gold jewelry and 90 percent of all sterling silver. But it also says that a larger number of women are buying diamonds now and plenty of colored gem jewelry Ms. Schupack says. MVI Marketing Jewelry Consumer opinion Council survey says that 84 percent of respondents were women, and more then two- thirds bought jewelry for themselves in the past.       

    WR chance, which carried 90 percent of products for women recently had designer Amy Levine in the store , and bought five or six items ranging in price from $300 to $5,000. The store recently had a ladies night event to help women develop a wish list that they want their others to buy them.  

    Happens to be that 90 percent of the sales that night were purchased from women for themselves. Mr. Chance says that women are having a bigger interest in the purchases and even paying a portion for the engagement ring.