RAPAPORT... The 4Cs are not the only things that make a piece of diamond jewelry a sales winner. In an ongoing series, RDR explores the “3Ws” — what’s selling, what’s not and why — by going straight to the people who really know — jewelry retailers. Each month, we ask a sampling of retailers to comment on the important issues that are facing the industry today. Here is what they had to say when asked: Do you sell fancy colored diamonds and are your customers asking for them? What types of pieces do you use color diamonds for and which colors are selling best?
DAVID ROTENBERG, OWNER
DAVID CRAIG DIAMONDS AND FINE JEWELRY
NEWTOWN, PENNSYLVANIA“Yes, we do sell them. Of the natural colored diamonds, the ones I keep in stock, it’s yellow. As far as the types of jewelry, for the most part, it’s probably rings. If you count ‘black’ as a color, I sold a bracelet not too long ago. I have had earrings and probably still have some, but it’s mostly rings. I do have an array of colors in stock but they’re treated diamonds. They’re more accent diamonds in pieces.
“You do have to explain to people what colored diamonds are because most people don’t realize that they are diamonds at all. Once you’ve explained it to them, their interest is aroused. But for most of the population, you’ve given them a piece of knowledge they didn’t have before and they thank you for it and go on looking for something else.”
DAVID NYGAARD, PRESIDENT
& CHIEF EXECUTIVE OFFICER
DAVID NYGAARD FINE JEWELERS
VIRGINIA BEACH, VIRGINIA “Yes, we stock them, typically fancy yellows. The others are kind of cost prohibitive to stock. Typically, most of them are in rings. Are people buying them? Sometimes. White diamonds are still the most popular. Sometimes people need education about colored diamonds but generally they already have a pretty good mindset of what they are.”
JAN FERGERSON, CO-OWNER
FORD, GITTINGS & KANE JEWELERS
ROME, GEORGIA
“We do stock them and we do have some people who come in looking for them. A woman bought a colored diamond ring from us 30 years ago — that’s what she wanted for her engagement ring — and she came in just today to have it cleaned.
“We’ve been working with natural fancy colors for a long time, but we do stock more now than we ever did before — more of the yellows. It’s mostly because of availability. We do stock some pink. We have rings, pendants, earrings and bracelets with fancy colored diamonds. We pretty much cover the waterfront. We have a handmade bracelet that has about nine or ten center diamonds, each a different color, from white to fancy yellow to chocolate, and a different shape, that are framed by white melee. It’s definitely a conversation piece and we have it on display. And we have earrings to match.
“We have some very good suppliers and use a very high grade of colored diamonds. I think that’s why we’ve been successful with them. We don’t use the ones that are questionable. When we were in Vegas in June, there were people who were showing what they said were fancy yellow, but they were inexpensive diamonds. Our customers know that we wouldn’t show those; we only show true fancies.”
STEWART BRANDT, OWNER
H. BRANDT JEWELERS
NATICK, MASSACHUSETTS“I stock natural color diamonds occasionally — if a good buy comes along — predominantly yellow, although I do have a ring with a couple of natural fancy pinks in it right now.
“I find that the colored diamond buyers know what they want when they walk through the door. The harder part is actually selling the treated colors.
“Most people come in looking for yellow. And first we talk about price point — ‘if you want a lemony yellow, it’s going to cost you X; if you want a more intense, it’s going to cost you Y. And if you want even more intense than that, it’s going to cost you Z.’ And then we can bring in stones for them to peruse. I try to keep in stock at least one somewhere between the fancy yellow and fancy intense yellow, just so we have a baseline to work with.”
LARRY HALL, OWNER
BAKER & BAKER JEWELERS
MARIETTA, OHIO“We stock fancy colored diamonds. We do the yellow. It seems to be the one of choice in the Ohio Valley here. And of course, then we have the other radiated colors as well in the multifashion rings. But when it comes to larger diamonds in the fancy, three-quarter up to 2 or 5 carats, it’s always yellow. Basically, it’s rings. I think rings are popular because the person who wants the colored diamond wants to be able to see it.
“People are a little more aware of colored diamonds with the internet and all the various sources out there that are readily available. But you do have to educate a few, especially when it comes to the grading. But we are selling a few. I sold a few this past Christmas and I’m having a ring made right now with a 2-carat radiant yellow in it. We don’t get many any more but when you do get one, you savor it.”
KEITH NORRIS, OWNER
K. NORRIS JEWELERS
RIVERSIDE, CALIFORNIA“I carry some — mainly the fancy yellows. But I do have some of the melee in pieces with rose gold in pink diamonds. We’ve had the most success with rings, accenting fancy yellows with white diamonds. The customers we sell them to have found us because that’s what they are looking for. Or, they’ll see it in our show window and it really catches their eye. We’re probably going to expand on colored diamonds with the success that we’ve had.”
FRED WEBER, OWNER
WEBER JEWELERS
DAYTON, OHIO“We do sell them. And we mostly sell yellow and we mostly sell fancy intense. And some vivids, but vivids have a different flavor, a different color to them. When first looking at them, without knowing the vivids are more valuable, customers might say the fancy intense is prettier.
“We sell very few light yellows. We do sell fancies when they’re strong, almost fancy intense. There’s a whole world of variations. And if you’re good at marketing and shopping for them, you can find fancy yellows that are almost fancy intense and save a lot of money and please the customer. People come in and ask for them and also they see the display and say, ‘oh, those are the yellow diamonds I’ve been hearing about.’
“Most of the time we display colored diamonds as three-stone rings with two white diamonds on either side or sometimes in a pendant with diamonds around it — basic jewelry. But we’ve also sold some important yellow bracelets with radiant cuts.”
IAN BROWN, VICE PRESIDENT,
DIRECTOR OF SALES
BROWN & CO. JEWELERS
ROSWELL, GEORGIA“We stock a very large selection of canary; different sizes, half carat up to 4 or 5 carats, in finished rings. We have a huge custom shop and do a lot of custom work but we also have a nice selection of earrings and pendants and loose diamonds as well. It runs the gamut. And then we do really well with smaller pinks and bluish diamonds, where it’s a kind of pastel mix, for the client who’s maxed out on everything else and who can buy on a whim for $25,000 to $35,000.
“We’ll have people coming in and asking for colored diamonds and then it’s just explaining basic five-tier color grading. With other fancy colors, it’s minimal education. You just say it’s very rare. Most of the clients who buy them from us have had a long-standing relationship with us. We do have people who are searching for the canary diamond.”
Article from the Rapaport Magazine - April 2008. To subscribe click here.