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Vegas Show


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I usually go, but this year I decided to skip it... mainly because I've been to Vegas way too much these last few months. Only so much I can take of that town.

 

How did it compare to other years?

 

Just had an idea. How about next year, we get a group of any diamond.info regulars that happen to be at the show together for a small gathering? My treat!

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I usually go, but this year I decided to skip it... mainly because I've been to Vegas way too much these last few months. Only so much I can take of that town.

 

How did it compare to other years?

 

Just had an idea. How about next year, we get a group of any diamond.info regulars that happen to be at the show together for a small gathering? My treat!

 

I would love that, any plans where we can go.

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It was a huge show! Biggest ever, this is now my 8th year attending. I can't believe how big it is now, I went for 4 days and only got to see about 1/2 of it. Didn't get to spend anytime at all in the Italian section I'm bummed out about that, but I wasn't focused on karat gold jewelry this year. I spent a lot of time with in the tools and packaging area because I needed software, cabinets, lighting, etc for a new store I'm opening, I'm shooting for a September 15th opening day.

 

I also picked up 3 new designer bridal lines, one cost me an arm and a leg litterally but I'm not going to say just yet until merchandise is shipped, I've been able to take photos and finish overhauling my website. :D

 

I hope you all had a wonderful time, I really enjoyed it and I even won some cash this year! :)

 

 

 

 

I usually go, but this year I decided to skip it... mainly because I've been to Vegas way too much these last few months. Only so much I can take of that town.

 

How did it compare to other years?

 

Just had an idea. How about next year, we get a group of any diamond.info regulars that happen to be at the show together for a small gathering? My treat!

 

I would love that, any plans where we can go.

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Hi Everybody I just came back two days ago from the diamond and jewelry show, I would love to hear from the people out there what they think about this years show. Was it successful or not.

 

I found this year a bit different than the past because of the changing attitude about the internet from many. Here are some observations. Your mileage may vary. :D

 

Education Sessions

 

Al Gilberston of GIA presented a phenomenal overview of the “American Cut,†which eventually became the “ideal†cut - attributed to Tolkowsky - when Shipley wrote the GIA course literature. There was a GIA museum display of some of Henry Morse’s tools, which revolutionized cutting. Al’s slide show had some amazing old advertisements, sketches and letters between Morse, Tiffany & Company and others. His book is coming out in the next month for only $30.

 

Peter Yantzer gave a workshop that reinforced AGSL research and development in light performance, with a sneak preview of their scintillation studies. It’s not even close to ready for implementation, but it independently reinforces the Moscow State University ETAS research in a lot of quantifiable ways. Exciting stuff for the 'cut geeks.'

 

Garry Holloway provided retailers with information about the internet market and strategies with which to compete. His platform is that consumers are not going to become less educated, and those who make expensive purchases are likely to be doing more due diligence on the internet, especially as generation next gets older. In fact, the intelligence level of people who have positioned themselves in life to make high-dollar purchases makes them likely to seek online information as a matter of personal habit.

 

David Peters with Jewelers of America also discussed the internet in a session sponsored by Jewelers of America. He cited facts that supported Garry’s predictions; it was largely a “how to†for retailers who do not have a web presence.

 

State of the Diamond Industry

 

Martin Rapaport gave his annual report, challenging trade members in every sector to gain an understanding the changes occurring in today’s world and how they will impact our businesses.

 

Long term forces are growing Chinese and Indian demand, the state of world currencies and inevitable economic warfare. Rapaport predicts that the diamond trade is controlling the diamond market less and less as major external economic forces, political priorities and profitability become primary factors influencing the diamond, gem and jewelry sector. He spoke about the shrinking power of DeBeers and the globalization of demand, noting that open markets with increased competition are good for the industry. He cited the Internet and the transparency it brings as important issues everyone must accept and adapt to, as well as the continuing presence of synthetics and treatments.

 

Rapaport noted that today’s consumers are well educated and are doing research online where they can immediately find price lists and comparables. It’s logical to predict that this trend will grow. To survive, he said, retailers must add value. The value of a nice showroom, signage and attractive salespeople no longer cuts it. You must find your value niche and use it. He challenged the retailers in the room with a key question: “What is the value of your added value?†… “If all you’re doing is flipping diamonds you should be flipping hamburgers.â€

 

Eli Izhakoff, Chariman of the World Diamond Council was presented the first ever “Rapaport Award,†in recognition of his service to the diamond industry and the international community.

 

Designs

 

I did not spend as much time on the floor as I would have liked, but was able to visit several pavilions. In my opinion palladium is making a serious move right now (as you’d expect given the sky-high price of precious metals). Gold and rose gold are back. Ring designs still tend to be ‘seeking antiquing,’ with plenty of pave, milligrain and filigree on display. “Long†accessories seemed in this year; long chains and exclamation-point style earrings for example. Color was also in abundance (which I think is great).

 

Attitude

 

There was a much different attitude about the internet than in past years from many I interacted with including traditional retailers. Instead of hoping the ‘net will just "go away," as in past years, many of them were asking me “how do you do it?†This is incredibly positive as it could mean that more retailers (and therefore more consumers) will become educated. This will raise expectations which would be fantastic for those of us involved in the high cut-quality market.

 

I hope these are helpful comments. Still digging out from a mountain of work after being away for a week, but it was well worth it. It's always nice to see so many others in the trade face to face and discuss the 'pulse' of the industry.

Edited by JohnQuixote
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I usually go, but this year I decided to skip it... mainly because I've been to Vegas way too much these last few months. Only so much I can take of that town.

 

How did it compare to other years?

 

Just had an idea. How about next year, we get a group of any diamond.info regulars that happen to be at the show together for a small gathering? My treat!

 

I'm in. Second round is on me.

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Thanks John for the in-depth report. Given all the chatter about the internet, it sounds like I picked the wrong year to skip the show! :-(

 

I will definitely be there next year, and will definitely organize a "Diamond Review get-together"!

 

Hermann

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