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RAPAPORT...
Palladium Alliance International (PAI) launched its design competition today to showcase jewelry crafted in palladium and award up to $1 million in prizes. The contest is open to designers and retailers located within the U.S. All entries must feature only genuine gemstones (if they are included) and 95 percent palladium alloy as the only precious metal design element. A panel of industry experts will score the entries based upon how well each design highlights the key qualities of palladium: its natural whiteness, durability and light weight. “PAI is the world’s first organization dedicated to promoting palladium as a luxurious and distinctive jewelry metal,” said John Stark, the chairman of the Palladium Alliance. “A contest that encourages creation of more palladium jewelry is a natural fit for the organization.” Up to 100 winners will receive a refund check equal to the cost of the 950 palladium alloy used in their winning piece, up to five ounces of the metal, a professional photo of their winning design, inclusion in a major stylist showroom throughout 2013 for possible use in celebrity dressings at major events, and other prizes. The three top designs will have the winners’ names and pieces featured in PAI print ads in top fashion magazines, such as InStyle, W, Elle, Marie Claire and Cosmopolitan. In addition, the grand prize winner will receive a contract to create a line of palladium jewelry with PAI supplying up to 30 ounces of 950 palladium alloy to facilitate manufacturing of the line. Designers and retailers are encouraged to review the complete contest rules at luxurypalladium.com/DesignContest. Each participant may enter up to 10 designs. If selected as one of the finalists (up to 100), they will then be asked to complete and submit the finished piece for final review of its overall design, craftsmanship, practicality, wearability and marketability. The designer who passes the final review is declared an official winner. Finalists will be notified on October 5, 2012 to begin work on their finished pieces, which will be due for final evaluation no later than December 17. Winners will be announced January 14, 2013, along with the winners of the third, second and grand prize. Checks reimbursing winners for the cost of the 950 palladium alloy used in their pieces will be issued February 28, 2013. “This is an exciting opportunity for designers, retailers and PAI,” said Stark. “Palladium is coming into its own as a distinctive luxury metal in jewelry design and entrants in this extraordinary contest are about to prove just how stunning it can be.”
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