Serendipity links for 02/26/08

Serendipity means accidental goodluck and this is how I felt when I stumbled upon these links.

A new feature of this blog I will now start featuring jewellery related links on this blog whenever I find any.Heres my first 2:

Nikhil Muses over a common mallu's penchant for gold in this insightful blogpost. Reminds me of days when I was in Bangalore and all my mallu friends sported a gold chain. Didnt think much then. Gold's Own Country

Neha Bhatt from rediff.com talks about detachable jewellery or rather multi use jewellery as the new trend among younger couples who have begun questioning the age old wisdom of spending tons of money on wedding gold jewellery and then storing them in vaults after that.
Detachable jewellery to suit all times.

We have mentioned a similar trend at this blog some time back in this blogpost titled Sensible Jewellery

Happy Surfing!

Add pearls to your jewellery collection...literally

Pearls ! Almost instantly an image of tens of pearls strung together comes to mind. Pearls among gemstones was synonymous with jewellery of the royalty in earlier times and affluent older women of our times. Undoubtedly they were pricey then. Some of the exotic ones like tahitian are expensive and can really set you back by a few lac rupees but the white ones are as irresistible as ever.

Pearls for ordinary earthlings was synonymous with their teeth. Remember the age old advt. of Dabur Lal Dant manjan which went on to say Raju tumhare daant toh moti jaise chamak rahe hai. They have come a long way from that. If diamonds can be manufactured artificially and become popular as moissanite. So are a lot of pearls artificially cultured in oyster farms. Making them more affordable.

Pearls are back in favor and this time not as estate jewelry but as a must have fashion accessory. Of course they have their place firmly entrenched in the royals heart. But I am talking about the cultured pearls which are finding their place in necklaces and bangles.

So if your jewelry collection was getting monotonous its time you looked at pearls.

Featured above is a pearl bracelet adorned with real diamonds from our store.

New Offering: 14K Diamond Jewellery

There was a time when 10K and 14K jewellery was prevalent in the west but we in India loved our jewellery in pure gold. Shooting gold prices has changed all that. Now, Consumers are demanding stylish design at affordable prices.

Kathana Jewellers has recently started manufacturing 14K diamond jewellery adding to their existing 18K line. This will help our existing/prospective customer base to enjoy the wedding festival and love for gold. In the process they will also end up saving around 22% for an equivalent 18K item.

In 14K the percentage of alloys is higher than 18K and 22K making the ornament stronger and less prone to wear and tear. It will be hallmarked as '585' corresponding to 14K. With all our return policies and buyback guarantees intact.

The times they are a-changin' by Bob Dylan is suddenly ringing in my ears.

Related Posts:
New Offering: Loyalty Cards
New Offering: Custom Made Engagement Rings

Trust Mark: Is it better than Hallmark?

Recently The Gems and Jewellery Trade Federation(GJF) launched the Trust Mark program to help shore up the image of the industry and give consumers confidence.

The govt. proposed Hallmark was limited to purity of precious metals like gold and silver but what GJF proposes with the trust mark is an all encompassing program which goes beyond just hallmarking.

The trade body has proposed a list of criteria like adhering to Hallmarking standards, transparent consumer policies et al.

A few things stand out as one delves into it and compares it vis-a-vis hallmarking:

Confusion in consumers mind:

At the onset it is bound to create confusion in the consumers mind especially when they start thinking of it as equivalent to BIS hallmark ( and/or haven't read this post :) ).

Need for a common playing ground:

GJF has proposed 3 categories to involve the maximum number of jewellers in this program. They are: The top jewellers, the preffered jewellers and the reliable jewellers based on the number of years in the trade, turnover of the jeweller and area of the retail outfit. This choice of criteria is inappropriate.

Since this is a new initiative every jeweller should be given a common playing field. It would be more appropriate that jewellers be chosen based on their customer relevant policies. On the other hand it promotes a certain group of jewellers and has tried to divide the jeweller community based on their number of years in the industry.

We at Kathana pride in the fact that we offer a unique 30-Day 100% Money Back guarantee on all our off-the-shelf jewelry ornaments making us perhaps the only jeweler to do so. Yet with such unique customer centric practises we cannot enter the supposed hallowed circle of 'top jewellers' because we are relatively new to the industry and don't have the requisite floor area.

High fees would be a deterrent:

The fees are for the top jeweller, the preffered jeweller and the reliable jeweller is Rs. 6 lac, Rs. 2.5 lac and Rs. 25,000 respectively.

In fact, its quite ironic that the jeweller community had quite vehemently advocated against such high fees when BIS implemented hallmarking. Sure, the trust mark isnt forced as hallmark was but are these high fees justified.

Lacks teeth:

The GJF's disclaimer:

While stating that a member jeweler has been found to confirm to the strict standards prescribed by GJF under “Trust Mark”, GJF does not assume nor is GJF deemed to assume any responsibility whatsoever with regard to the purity, content or quality of any product sold by such jeweler.

Whereas the BIS clearly states:

Relies on clear rules, delegation of responsibilty, only to those who are certified by BIS and penalties ranging from suspension of license to heavy fines for clear and persistent violation of rules.

Only when the initiating body of such a program take a stringent stand against violating jewellers will this initiative gain public acceptance and hold credibility. Whereas BIS had specified strict guidelines/action against the violating jeweller GJF is relying on self-regulation.

So, to end, trust mark intends to go beyond hallmarking which is good but lacks the teeth in its enforcement . Also It should be a more democratic system keeping the gates equally open for everyone.

Related Article: An Exclusive Club & A Logo To Deliver Consumer Confidence

On a side note: There is a need for a body similar to Better Business Bureau of America so that it addresses all the trade and retailing sectors facing consumers offline or online.

Related Posts:

What is Hallmark Jewellery?
Hallmark Mandatory from Jan 2008...really?

Now, Delhi has its own world class diamond certification lab: IGI

Standardization of any kind is a good idea especially in the jewellery industry. It helps consumers to know what to expect. So be it hallmarking of gold or certification of precious/semi-precious stones, the move is welcome.

Since hallmarking is already gathering momentum across the country, Thursday came with the announcement that International Gemological Institute(IGI) is opening their office in Delhi, 3rd in India. The earlier ones being Bombay(Mumbai) and Calcutta(Kolkata). The office is located in the jewelry hub of Delhi , Karol Bagh and details can be found on their website.

"IGI provides various services like preparing diamond reports on the basis of Cut, Color, Clarity, and Carat( 4C's) and now it will provide the 5th C called confidence to the consumers" remarked their CEO Roland Lorie at the launch party. It also provides various other services like laserscribe, table branding etc. You can find at their website.

Talking to Ajay Shukla, the branch manager of IGI office Delhi, I asked what prompted them to open a office in Delhi: Ajay related the story of mobile labs which had to frequently visit Delhi to grade mounted jewellery for the Jewellers and some time back it became so frequent that it made sense for them to open a office in Delhi.

Mobile labs are self contained labs with equipments to help gemologists grade mounted jewellery on Jeweller premises and compact enough to be flown easily to places which dont have a regular setup.

What does all this mean?

That the consumers are increasingly demanding certification and that too not the local Deluxe/Super Deluxe diamonds kind but certifications based on technical merits like the 4Cs. That means the consumer is getting super smart as also noted by the CEO of IGI. The consumer is going to the internet and getting all the information before he even steps in the showroom of the jeweller.

This also means that now you as a consumer can get certified solitaires or even certified mounted jewellery. As mentioned earlier IGI does provide for a way to grade mounted jewellery( jewellery where the diamonds are already set in gold) . There is a detailed report in either case which clearly mentions what IGI thinks of the diamonds in terms of the 4Cs.

Anyways enough talk now time for some pics.


At the launch Party of IGI in Delhi.


At their office in Karol Bagh. Left to Right : IGI's CEO Roland Lorie, Yours Truly, Marketing Manager (IGI India) Nishit Rathee, IGI Delhi's Branch Manager Ajay Shukla.

(This is a guest post by Aditya who was present at the launch of IGI's office in Delhi.)

Tanishq invites for preview of Jodhaa Akbar Collection

By now everybody knows who's behind the elaborate jewellery worn by Aishwarya and Hrithik in Jodhaa Akbar. The jewellery in this period movie from the mughal era has been painstakingly recreated by Tanishq. Some of the stats from craftsmanship to kilos of gold used is available here.

What few might be knowing is that Tanishq has set up a preview of the Jodhaa Akbar jewellery collection in select cities. You can sign up for it here.

Featured above is a choker used in the movie.

Related Posts:
7 Trends in Jewellery Industry for 2008
Fighting the Goliath - Tanishq

Handling volatile gold prices: A jeweller's perspective

"You guys must be making a killing with the high gold prices" quipped a customer recently. And went on to elaborate that since a jeweller has a huge stock which was bought prior to this price surge, when the gold rate was Rs. 10,000/10 gms. Its a no brainer that with current prices his logic seemed correct. Think for a moment gold bought at 10,000 and sold at 11,500 is certainly a 15% hike in a span of few weeks. Plus there is making charges. Phew!!

He even suggested that we should freeze our prices at say Rs. 10,500 and that would attract a lot more customers. A smile broke on my face on hearing this.

But what would happen if the prices were to fall suddenly because that too happens. Then a jeweller would certainly have to face huge losses?

The volatility of gold prices is largely unpredictable but the jeweller community has found an ingenious way to handle it. Whenever a jeweller makes a sale at say Rs. 11,500 within minutes the same quantity of gold is purchased from the bullion market at around the same prices. which means the jewellers stock of gold is maintained constant. Whether that happens now when the prices are at 11,500 or when the prices were Rs. 10,000, I explained.

Almost immediately came the next question: So how do jewellers who advertise a lower rate than the prevailing rate do it. Simple try spotting the hallmark logo or claim of the jewellery being hallmarked on that advertisement. Chances are it isn't.

Related Posts:

Deconstructing a jewellery ad

Trend: Exchange old gold for new

In spite of what the weathermen are predicting for Delhi, gold is kicking the mercury several notches up. And if you are a fashionista who is cringing at the thought of rising gold prices or a jewellery buyer with a imminent marriage in the family. Despair not.

DO what a lot of people are doing. Take your old gold and get new. Sales of scrap gold( as the industry terms gold from old jewellery) is gaining new momentum both because of investors and the wedding season. Investors are cashing in on the rising prices and the wedding season is bringing old gold from the lockers to the counters of jewellers.

What to expect:
1) If your jewellery is hallmarked. You will only pay up making charges for the new jewellery item.
2) If your jewellery is not hallmarked, it is adviced that you go back to the same jeweller you initially bought the jewellery from. This time insist that your newer jewellery items are hallmarked. Any other jeweller will probably subject your jewellery to some kind of assay test to ascertain the purity. The reason is this.

And don't forget to take a look at my previous post on some of the best practises on buy back/exchange you should be looking out for.

Related Posts:
7 Trends in Jewellery Industry for 2008.