The psychology of choice in engagement rings and wedding bands

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In NYC Diamond Blog’s coverage of Hollywood, and the opinions of published dating experts nationwide comes this article in today’s Huff Post by Damona Hoffman. It is interesting, amusing, and worth a quick look.

Halle Berry has tied the knot again. We’re hoping that the third time is a charm for this soon-to-be mom of two. Will her marriage to Olivier Martinez be able to stand the test of time? Since my crystal ball is in the shop, I thought I’d investigate some other predictors of relationship success. Did you know that your wedding ring can actually indicate the kind of relationship you have?

I asked Simon Katz from a large jewelry website, who actually studied psychology and sociology before getting into the jewelry business, to help me analyze Halle’s engagement ring to see what her choice of ring says about their relationship future.

“Halle has had troubled relationships in her past. By choosing an actual Emerald in an Emerald Cut, she’s basically declaring, ‘I’m not going to go down the same path I’ve already been. I’ve learned my lessons, and I’m carving out a new road,'” Katz told me. “A three-stone ring setting is definitely glamorous and allows the wearer to let her unique personality shine through with different combinations of diamonds and gemstones.”

I remember the months leading up to my own engagement vividly. I was so eager to finally get that stone after three years of dating that I didn’t care what it looked like. Now that I’m aware of the various meanings behind the setting, cut, and shape, I am encouraging my successful dating coaching clients to be a little more discerning.

Katz says, “The selection of an engagement ring should be a thoughtful process so it ends up matching the personality of the wearer. The kind of engagement ring one finally chooses can also tell a lot about the present and future relationship.”

So what does your choice of ring really say about you?

The Cut And Shape Of The Stone

Classic round: The future bride and groom are likely to be traditional, perhaps a bit conservative, faithful to each other, and very loyal.

Emerald cut: More often than not, money is no object when it comes to showering each other with affection.

Princess cut: The bride-to-be will most likely be a pampered spouse, with the future groom being a dedicated, thoughtful husband.

Pear shaped: The engaged couple can be quite independent and have high standards, but ultimately supportive of each other.

Marquise cut: The engagement and marriage are punctuated with chic and glamorous events, calling for many opportunities to play dress-up.

Heart shaped: The future bride and groom are not afraid to indulge in public displays of affection now and then. They are also most likely to be giddy at their own wedding!

Oval shaped: Stability and serenity are important to the couple who choose this shape.

The Shape and Design of the Band

Traditional band: With no discernible ending and beginning, a perfectly round engagement ring tells of a future life together which the couple cannot wait to begin right away.

Split shank: This style splits the band in half near the center diamond, indicating that despite having different personalities, the people in the relationship are always one in heart, mind, and spirit.

Solitaire: As classic as they come, the solitaire speaks of a simple life together with basic values holding up the relationship as time goes by.
Three-stone setting: Symbolizing the couple’s past, present, and future, this setting serves as a precious timeline of a relationship.

Stackable rings: Flush-style engagement rings and wedding bands fit harmoniously so they form one smooth, streamlined shape when worn together. This indicates that the engaged couple is thoughtful, are careful planners, and are forward-thinking.

Engraved band: A sentimental and unique couple with plenty of private jokes and shared interests will likely choose an engagement ring engraved with symbols that mean something special to the two of them.

Just like relationships, each ring has it’s own unique identity so when you walk down the aisle, make sure you pick a ring that mirrors the love you feel for one another.

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Sparkling: Diamonds could be Investor’s Best Friend

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NYC Diamond Blog’s mission is to inform readers of all facets of the Diamond industry, including developments, and expert opinions from around the world. Here is an article from the UK written by Julian Knight and Chiara Cavaglieri. It appeared in ‘The Independent’ newspaper over the weekend.

For centuries diamonds have been a symbol of wealth coveted by brides-to-be and collectors, but could these most precious of stones also prove the ordinary investor’s best friend?

Gold has traditional been the preferred commodity for many investors, but now that it is down from its peak, diamonds are an attractive prospect if you’re looking for an alternative. In the last  five years, one to five-carat diamonds provided annual returns of 12 per cent and this year, global diamond prices are predicted  to increase by around 10 per cent, while the

price of the best gems could jump as much as 50 per cent, according to gem trading company Diamond Manufacturers. However, such claims coming from firms involved in the trade should be taken with a pinch of salt.

Prices have been driven up by demand from the emerging middle classes in India and China, the lack of major mining discoveries and, when it comes to the price of cut diamonds, the market is still tightly controlled by the likes of De Beers who have diamonds in store.

If you have a magpie’s weakness for shiny things, there are three ways to invest in diamonds: you can buy the gems and store them to sell at a later date; you can buy shares in diamond-mining companies; or you can gain exposure via diamond funds.

Holding the physical asset means you can set the diamonds into jewellery and make the most of its aesthetic quality until you’re ready to sell. Buy your gems through a reputable diamond trader rather than a jeweller who will add a retail mark-up of as much as 300 per cent compared to prices on the wholesale market. Vashi Dominguez, chief executive of Diamond Manufacturers, advises spending £5,000 on a quality stone and be prepared hold on to it for at least five years.

“Each diamond should have come with a certificate from a laboratory which confirms its grade – the GIA is the best known and one of the most-respected labs, the Dutch equivalent, HRD, also gets mentioned. Other certificates will be less trusted when reselling,” says Adam Laird, investment manager at independent financial advice firm Hargreaves Lansdown.

The most-important issue for investors is that the diamond trade is an unregulated market blighted by a lack of transparency. There is an index – the Rapaport Diamond Trade Index – but this only serves as a guideline as the vast majority of diamonds don’t actually trade at these prices. The “four C’s” help to determine the value of any given diamond -the cut, color, clarity and carat weight – but every diamond is unique, like a snowflake or a fingerprint,which means they must be valued individually


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Ruby, the July Birthstone

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The birthstone for July is Ruby,the red variety of the mineral Corundum, the second hardest natural mineral known to mankind. Ruby has been associated with the values of love, success, integrity, passion, and promise. The finest ruby color is vivid, almost pure spectral red as seen in the highest quality Burmese rubies, which are considered the finest. Ruby is also the anniversary gemstone for the 15th and 40th year of marriage. Ancient lore states that the highest quality rubies were said to protect their owners from all kinds of misfortune. There are many who believe a ruby that has not been internally faceted, when worn in jewelry touching the skin will help keep a pregnant women’s unborn baby safe and healthy. NYC Wholesale Diamonds and our Fine Jewelry division stock a complete selection of Ruby and Diamond Rings, Necklaces, Earrings and Tennis Bracelets.

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Everything You Ever Wanted To Know About Engagement Ring Insurance

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Explaining the importance of protecting your engagement ring purchase should be a mandatory requirement for every jeweler. Unfortunately, it’s not. So you must be your own advocate in protecting this valued possession.
For 25 years I have stressed to my clients that insuring your ring can be a very simple part of this wonderful process, or a potentially costly oversight. As a newly engaged couple, there are a multitude of new, exciting and time consuming tasks at hand. Learning how to purchase engagement ring insurance is probably not going to be on the top of your ‘to-do’ list. However, your largest jewelry purchase of a lifetime must be protected against theft, damage, and being lost. I advise the purchaser of every engagement ring that it is simple, but vital, to eliminate all risk of financial loss.
The first step is to know how to properly insure your ring. The best option is through your homeowners or renters insurance. A rider can be purchased that specifically covers your ring. It is the easiest and most cost effective option, as it adds on to your existing plan at an average annual rate of 1.5% of the ring’s value. (For a $10,000 ring, that is only $150.) There should be no issue having the policy immediately approved by your insurance company.
If you don’t have homeowners’ or renters’ insurance, you can take out a policy through a company that specializes in jewelry insurance. But, be cautious. Some independent firms will charge much higher premiums. My research has shown Jewelers Mutual to be a reasonable alternative, charging a 2% premium in most cases.
Here are four key questions to ask your insurance provider before going forward:
1. Is the ring covered if you lose it accidentally, or only if it’s stolen?
The only acceptable answer is that you are fully covered for both.
2. Does the policy cover damage to the ring?
It should cover all damage to the ring, and the diamond. Diamonds are the hardest substance known to man, but can chip and/or crack. The safest of all diamond cuts is the round as it does not contain pointed edges, although round diamonds can be damaged as well.
3. Will the company pay all your claims by check, or will they require you purchase a replacement through a specific jeweler?
This is important, as you want the freedom to return to a jeweler you trust, or at least have the option to shop around. A jeweler with the best interests of the insurance company does not have your best interests as their priority.
4. Are there any exclusions, or circumstances where you are not covered?
There should not be any exclusions. If there is: walk away.
The final step is the appraisal. This will be effortless if you use a jeweler that cares about their clients and is willing to go the extra mile in protecting your purchase.
All insurance companies require a replacement cost appraisal of your ring. You must always request this in order to protect the value of your ring, and to know what it is worth! A thorough appraisal will include the carat weight, cut, clarity, and color of all the diamonds, and the identification number of the accompanying gemological certificate. It will also show the type of metal such as platinum, 14kt, 18kt white or yellow gold. An honest jewelry professional will always provide a signed appraisal, on their letterhead, with all fine jewelry purchases. The appraisal serves as a guarantee of the diamond’s size and quality. Some insurance companies require a copy of the actual gemological certificate. The Gemological Institute of America (GIA) and The European Gemological Laboratory (EGL) are the two largest and the only true independent and acceptable diamond laboratories. Their reports serve as a unique, identifying ‘fingerprint’ of your diamond. Certifications from all other organizations are nearly worthless.
Lastly, you should always receive a verbal or printed confirmation from your insurance company before picking up your ring. I always encourage my clients to call their agent from my store at pickup, if they have not yet done so. This eliminates all risk completely. My advice is to have your jeweler assist you if, for any reason, your policy request is rejected by your insurance company. This issue is not uncommon, and the reason will likely surprise you. Insurance companies often lose money on these types of policies, so some take steps to discourage policy holders from purchasing them. I’ve had dozens of clients tell me they were rejected for coverage. In every case, I was able to correct the issue by calling the company and demanding an explanation. In most cases, it was something as simple as the name on the appraisal did not match that on the policy due to a missing middle initial.

The bottom line is to be your own advocate, if your jeweler doesn’t make the effort to help you protect this prized possession. So, enjoy every moment at this remarkable, romantic, wonderful time in your lives…everything will work out perfectly!

 

 

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SUMMER TRAVEL JEWELRY CARE

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Weekend getaways, jaunts to the beach, and full-fledged vacations are perks that pretty much come with the territory during the summer months, so it’s no wonder that summer fashion tips such as what to wear, what to pack, what to buy—are at the forefront of our minds right now.

One thing, though, that’s not quite as readily on our radar is the idea of jewelry, and how the summer months might affect our pieces. Namely, how we can protect our beloved rings, jewelry, necklaces, and earrings from the season’s elements, and how we can keep them secure while jetting off somewhere sun-filled.

Our jewelry can take a serious bruising when exposed to summer activities such as lounging in the sand, applying suntan lotion, and traveling. Whether your summer plans include a weekend trip or a week abroad. Here are some helpful hints to keep in mind while you enjoy the beauty of summer

1. Sunbathe without your Gems
Sunscreen can coat gemstones, which reduces refractive and reflective light. Essentially, this means your stones won’t be as brilliant or bling-y. To avoid this, leave your fine pieces at home if you’re heading to the beach or the pool for the day, and be sure clean them regularly all summer. Check NYC Diamond Blog’s April 3, 2103 entry for tips on regular Diamond Jewelry maintenance

 2. Organization is key when traveling.
When jumbled together, your jewelry doesn’t always get along. For example, a diamond can scratch a pearl, and a bracelet can get caught on a necklace, so always pack pieces in individual soft cloth pouches or lined jewelry boxes to prevent scratching, dulling, and the dreaded tangling of chains.

3. Keep it safe.
When selecting a hotel, be sure that safe deposit boxes are available. Never leave fine jewelry unattended in a hotel room, a rental car, or on a lounge chair—even if you’re just popping over to the bar for a mojito.

4. Shopping for something new? Do your research.
Oftentimes, vacation destinations are also prime shopping destinations, so if you get the urge to commemorate your trip with a new fine jewelry purchase make sure you’re buying from a jeweler that’s been in business for several years. When in doubt, check a retailer’s reputation and rating with the Better Business Bureau (www.bbbonline.org) and always ask for an appraisal. The appraisal should always have the store’s letterhead, and a clear signature of a member of store management.

5. Before you go away, be sure your jewelry is adequately insured.
If you decide to bring an especially valuable piece on vacation—perhaps your engagement ring, a pricey watch, or a family heirloom—always be sure it is fully insured. Always obtain insurance through your homeowners or renters policy, it is safe and more affordable than you would imagine.

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Analysts Predict Gold Will Drop to $1,200

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NYC Wholesale Diamonds Founder and President Keith J Saxe has cautioned his clients to hold off on their gold jewelry purchases whenever possible since early June 2012. Value continues to exist in Diamonds, which have not experienced the huge price increases of many commodities such as Gold, Silver and Platinum. Many analysts have finally begun to realize this fact as witnessed by the following article that was published today in one of the jewelry trade’s premier periodicals.

How low will gold go? Commodities analysts at Societe Generale recently predicted the precious metal could sink as low as $1,200 an ounce now that the gold bubble has burst. 

The analysts wrote that there has been a “paradigm shift” in investors’ attitudes toward gold after its dramatic drops earlier this year, news outlets, including the International Business Times, reported.

“We believe that the dramatic price drop in mid-April was the beginning of the deflation of a bubble,” the analysts wrote, according to the news report. “The gold price rally in the late 1970s turned out to be a bubble. We think this time is not much different.”

“We believe that the dramatic gold sell-off in April, combined with the prospect of the Fed starting to taper its QE programme before year-end, has resulted in a paradigm shift in many investors’ attitude towards gold, which is likely to result in continued large-scale gold ETF selling this year and next,” the analysts said according to the Wall Street Journal blog MarketWatch. “ETF gold selling has averaged about 100 tons per month since the April sell-off.”

At press time, the metal was currently trading at $1,367.

The Societe Generale analysts are not the first to offer this prediction.In May, Michael Widmer, metals strategist at Bank of America Merrill Lynch, predicted it might drop to $1,200 an ounce.  And NYU professor Nouriel Robini has written that the metal could hit $1,000 by 2015.

The World Gold Council, however has said, that it feels the market’s fundamentals remain strong, noting increased jewelry demand in China and India.

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