RAPAPORT... One of the best ways to see who bought what in colored gemstones this holiday season is to check out the independent brick-and-mortar jewelers around the country. Because they nurture close, enduring relationships with their clientele, this, in turn, keeps them attuned to what their customers want. With the exception of Christmas Eve, when shoppers flock to the malls for last-minute purchases, the independents were pleased with their holiday sales.
Custom designer Etienne Perret at Salon Etienne in Camden, Maine, caters to “the upscale woman who already owns white diamonds, and has the money to play with fun looks in color stones.” These patrons understand colored diamonds and bought them enthusiastically during the holidays. Perret’s diamond-studded, multicolor Tahitian pearl strands, retailing for around $30,000, and South Seas pearls were especially big sellers. One of Perret’s stand-out sales was pearl bracelets and necklaces in the $60,000 to $70,000 range, sold to a discerning buyer at Neiman Marcus, who originally spied the imaginative line when he was buying for a rival luxury department chain. Perret’s custom-made interchangeable neckwear clasps and channel-set, rainbow-colored gemstone eternity rings sold well. Did he see any patterns emerge throughout the shopping season? “A lot of hurry up and get it done,” Perret mused of his patrons, for whom price is never a concern.
Medawar Jewelers in Flint, Michigan, has been building a loyal customer base in the Midwest since 1920, when president Ronny Medawar’s grandfather opened a small watch and clock shop there. According to Bobbie Goergen, Medawar associate, colored stones sold well this holiday, with many customers buying garnet and blue topaz, she noted. While blue topaz is a traditional December birthstone, fine emeralds in the $3,000 range also found buyers. What did catch her off guard was the number of pearls being sold. During the rush, last-minute buyers grabbed whatever pearls were available. “It got down to any strands we had on hand,” Goergen recalled.
JLO EFFECTJeweler Michael Taylor of Servis & Taylor in West Los Angeles, California, is known for distinctive diamond jewelry. His clientele demands the out-of-the-ordinary when they purchase colored gemstones. In Taylor’s assessment, holiday sales on the West Coast were lackluster in general, with brisk sales in pink sapphire jewelry being the exception. In a community driven by “the Industry,” i.e., the entertainment world, pink sapphires have gained momentum from the “JLo effect.” It wasn’t so long ago that fans first heard of Jennifer Lopez’s engagement ring featuring a prominent natural pink diamond. Pink sapphires, which are more readily available and relatively more affordable, have risen in popularity, particularly where customers are big-time star watchers, Taylor concluded. While flat sales among modestly priced items may reflect economic pessimism in the general public, Taylor said, high-end goods for well-heeled shoppers were steady as ever.
Lamon Jewelers in Knoxville, Tennessee, had good colored gemstone jewelry sales, enhanced by the recent expansion of their retail space. Lamon has created a niche market in a community with plenty of competition. What sets them apart is their custom colored stonework. Shoppers came for just that sort of unique merchandise this holiday. In business for nearly a quarter of a century, owner Howard Lamon is, himself, a colored gemstone aficionado. He makes much of the jewelry prominently displayed in their cases. Customers bought their princess cut, rainbow-colored gemstone line bracelets.
TV FACTORMany home shopping networks now pitch “exotic” gemstones, adding to the general familiarity within the popular culture for unusual colored gemstones. Customers at Lamon bought cabochon star gemstones in several colors as well as purple sapphire and spessartite garnet, noted associate Adrienne Lamon Anderson, and, like other independent jewelers around the country, lots of pearls. Having said all that, Howard Lamon speculated that his strongest colored stone sales — including red stones, like garnet and spinel — will actually occur in the first quarter of 2007. Men who buy holiday gifts for their significant others, Lamon observed, feel safest with diamonds. “You can’t go wrong with a diamond purchase” is the consensus. When the pressure is off, Lamon predicts, the next round of gift-buying opportunities will go to the colored stones.
Luxury colored stone designer Haig Haytayan, of Leon’s Fine Jewelry of Beverly Hills and Haytayan Jewelers, creates pieces for a clientele that reads like the Who’s Who of Hollywood. Red-carpet walkers are perennially draped in his sumptuous neckwear and earrings. What are found in his Beverly Hills salon are considered must-haves. So what sold for him this year? “Hoops, of all kinds,” Haytayan reports, in the aftermath of a swell of last-minute shoppers. Understandably, jewelry that combined multicolor gemstones was Haytayan’s hottest seller and is synonymous with his brand.
When all the shopping was done, colored gemstone sales echoed a recurring theme across the landscape. Ultra-luxe retailers had all the business they could dream of from price-is-no-object customers grabbing colored diamonds and high-end multicolor jewelry pieces. Across the states, the blue topaz and garnet jewelry goods provided stable modest to midpriced choices for most buyers this season. Surprising some was the demand for pearls in every price range. Top-end designers had customers for the priciest colored pearls from Tahiti and the South Seas. But with Chinese and other sizable freshwater pearls in production this year, even last-minute shoppers on a shoestring budget found pearls within their means.
Article from the Rapaport Magazine - February 2007. To subscribe click here.