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10 Years Ago in Jeweller: April 2008

A snapshot of the industry events that made news headlines in the April 2008 issue of Jeweller.
Standards Australia targets hallmarking

The story: Standards Australia (SA) is preparing a set of requirements for jewellers to properly identify their pieces.

According to Australia’s peak standards body, the move is an attempt to eliminate the sale of inferior goods to unwitting consumers.

While most industry members were doing the right thing, SA claimed that some were not: “These new standards will give consumers an added level of confidence in the true value of the jewellery they are buying,” SA CEO John Tucker said.

Gift fair makes room for more

The story: Reed Gift Fairs has expanded in 2008, attracting more exhibitors at both its Sydney and Melbourne shows in February.

Reed Gift Fairs’ Sydney show in February welcomed an additional 677 companies while its smaller Melbourne fair saw 176 more companies than in 2007. Overall, Sydney and Melbourne had total visits of 28,645 and 8,259 respectively.

Both fairs enjoyed an increase in first-time visitors.

According a release from Reed, the results indicate that face-to-face buying remains a powerful component of gift industry purchasing.

“Gift buyers increasingly value Reed Gift Fairs as an important, pre-eminent way of doing business,” Omer Soker, exhibition director of Reed Gift Fairs said.

“The gift industry is large but fragmented, and we have worked hard to research with our exhibitors how to manage our fairs to be in their best interests.”

Aussie diamonds fall in 2007

The story: The Australian Bureau of Agricultural & Resource Economics (ABARE) has reported a drop in Australian diamond production. According to a report in Rapaport, local diamond production fell 24 per cent to 6.2 million carats, while diamond exports by value declined 8 per cent to $183 million in the fourth quarter of 2007.

For the full calendar year, Australia’s diamond production and export volume dropped 34.3 per cent to 19.3 million carats.

Australia was the third largest producer of diamonds by volume in 2006, and seventh by value, according to Kimberley Process data. Total diamond exports fell 12.6 per cent to $684 million in the 2007 calendar year, according to the ABARE report.

The country’s refined gold exports increased 21.7 per cent to $AU10.8 billion for the full calendar year, while refined gold production fell 1.2 per cent to 375 tonnes. Australia’s total mineral resources exports grew 5 per cent to $AU106.6 billion in 2007.

Amazon diamond sales sparkle

The story: Diamond sales at Amazon. com increased more than 100 per cent in the fourth quarter of 2007, when compared with the same period in 2006, an announcement from the company stated.

Pendants, stud earrings and create-your-own engagement rings were especially popular during the holiday season, according to the mammoth online retailer.

Queensland announces apprentice of the year

The story: Robert Soom is Queensland’s Apprentice of the Year. The young jeweller working at McKim’s Jewellery Design narrowly beat out Belinda Smith (runner-up) from LeGassick Collections.

The 3rd Year Jewellery Apprentice Design Awards were presented alongside other accoladees late last year. Apprentices attend the Southbank Institute of Technology in learning blocks, during the first three years of their jewellery apprenticeship.





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