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28Aug 2014

100-00464.5LSometimes, the smallest victories are the sweetest to me.

Yesterday, a young man was recommended to me and asked me to look at an Art Deco Diamond Ring that he wanted to sell.  It was his grandmother’s engagement ring and he was trying to gauge interest in this family heirloom.

After offering him $4,000 for the ring, he left our offices and inquired at several other jewelry buyers. Later that day, he called me and claimed that another jeweler had suggested he might pay up to $4,700 for the ring and asked me if I could increase my bid.  After a short discussion, I told the young man that I thought that my original offer was more than fair and although I would look at the ring again if he liked, I did not think I would want to pay more than I originally proposed.

A few hours later, he came to our offices and asked to see me.  The other jeweler had told him that the diamond would have to be taken out of its mounting, weighed and examined further and only then could he make a firm offer.

The center diamond weighed approximately 1.60 Carats by measurement, and was in a beautiful Deco mounting surrounded by smaller diamonds. I explained that I thought that a good part of the value of the ring was based on its mounting. An antique ring in an Art Deco setting was worth more to me than a diamond that would have to be recut, certified and sold if it was removed from its original mounting.

In an effort to receive the most money, the young man went back to the other jeweler to get clarification on his deal.  The other jeweler was unwilling to guarantee the same $4,000 offer as I had made, which put the client in a tough position.

In the end, I raised my offer a bit and he accepted. He felt uncomfortable with the other vendor’s need to remove the diamond, ruin the ring and then adjust his offer. Rather, my offer was based on my affinity for the design and style of the piece.

While I think we will have to wait awhile and hold the ring in inventory until one of our retailers or private clients wants an Art Deco Ring, I am gratified that we helped a client get the most out of the ring as possible, while protecting a beautiful heirloom, which will definitely be appreciated by the next owner.

His family gained a financial benefit from a ring that sat in his wife’s safety deposit box for years, and someone soon will be wearing it and giving that beautiful ring a renewed presence in the world.

 

22Aug 2014

There are concrete reasons people sell jewelry and the stigma attached to the idea is easily dismissed. Andrew & Peter Fabrikant, the nationwide leaders in diamond & estate jewelry buying, conducted a survey in which they determined why different people sell jewelry and what types of jewelry people sold.

After conducting a scientific poll Andrew & Peter Fabrikant found that of the 65.33% of people that admitted that they had sold some of their jewelry, 27.27% had sold their engagement rings or wedding bands. Why would people sell these items? Well, Andrew Fabrikant, Partner at Fabon5th.com, proposes, “When people go through divorces or become separated from their spouses, sometimes they will sell their jewelry that brings back bad memories. Others sell engagement rings to finance the divorce itself, or find it important to sell when a new serious relationship is forming.  Most sellers find it a cathartic next step in life.” In fact, this idea was supported by the fact that 18.18% of the participants who took the survey used these reasons as a motive for selling their diamonds and jewelry.

One of the other intriguing aspects of the Andrew & Peter Fabrikant survey is that the highest number of people admitted that they felt it was necessary to sell some of their jewelry in order to escape debt. 27.27% of respondents who admitted to having sold jewelry used this option as their rationale. Peter Fabrikant, Partner at Fabon5th.com, notes that, “This finding makes sense as one might look to sell some unwanted jewelry to mitigate the consequences of debt.”

This argument raises an interesting idea, as it assumes that some of the jewelry that people sell is “unwanted.” This idea is also supported by the survey, which found that 27.27% of people sold their jewelry because they felt that they no longer enjoyed having the item. Additionally, 13.64% of respondents claimed that the item was a gift that they never had liked and 4.55% of respondents claimed they sold family heirlooms that they didn’t like.

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A third interesting fact is that 98% percent of respondents sold diamond and gold jewelry because they knew that prices for these jewelry items are at or near historic highs.

And where exactly did most of the respondents sell their jewelry? The Andrew & Peter Fabrikant study found that 36.36% of respondents went straight to a jewelry buyer.  Andrew Fabrikant, suggests that, “ More people are realizing that jewelry buyers, like us, give sellers the best prices and allow them to get the most ‘bang for their buck.’ We ourselves, value jewelry that comes into our store not just on the value of the stone or materials, but also on the demand and history of the piece.”

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A final intriguing factor discovered from the survey included what people did not say. There were no respondents who selected that they used traditional means of selling like Auction Houses, or successfully used online sites like eBay or Facebook. Only 9.09% used Classified Ads in their local newspapers and 4.55% used Craigslist as a means of selling lower priced items. When asked about why they had sold their jewelry, no one responded that that they wanted to pay for a vacation or shopping spree. But that they wanted to help pay for retirement, that they were unemployed and needed the proceeds or were helping to support a family member.

Andrew & Peter Fabrikant, Fine Diamonds and Jewelry (FabOn5th.com), are nationwide leaders in diamond & estate jewelry buying. They specialize in signed and unsigned estate jewelry (pre-owned jewelry), diamonds, watches, gold and other fine jewelry from anywhere in the United States. With four generations and more than 100 years in the jewelry trade, they have an established name of assessing each item of jewelry not only for its intrinsic worth but its aesthetic value, its market desirability and history. Andrew & Peter Fabrikant will guarantee any and all purchases for quality and price. For more information call 1-800-570-Gems or visit http://fabon5th.com.

20Aug 2014

By J.P.Cullen, CFP, Vice President-Wealth Management- UBS Financial Services Inc.

The latest UBS Investor Watch reveals that planning successfully for your family’s future requires much more than a will. While people avoid discussing inheritance, it is not too early to break the silence and include your family in your planning. Here’s why it’s so important:

Families are happier with the outcome when they know the plan ahead of time. There’s a full 50% drop in disagreements over inheritance when parents include their adult children in planning upfront. On the other hand, leaving issues unresolved leads to greater dissatisfaction among heirs later.

Many investors prefer “giving while living.” Many parents have already started passing on wealth to future generations, most commonly by funding their grandchildren’s education. In fact, three out of five parents subscribe to “giving while living” as they want to enable a better quality of life for their children and grandchildren.

Longevity is changing the traditional view of inheritance. Planning for the years ahead has become more complex. Investors must take into account health and long-term care costs along with what they’d like to set aside for future generations. These multiple goals require careful planning, starting now.


If you follow these simple steps you can be on your way towards ensuring the safety of your estate!

18Aug 2014

Jewelry and watch sales are on the rise for the first half of 2014. 

As reported by Diamonds.net.

By Jeff Miller

U.S. jewelry and watch sales together rose 3.4 percent year on year in June, according to preliminary government calculations. Sector growth was also revised lower for the first six months of the year with low single-digit increases for January, February, March and April and a 3.7 percent increase for May. Specifically in June, jewelry sales rose 3.3 percent to $4.886 billion, while watch sales rose 3.6 percent to $666.3 million, according to Rapaport News calculations.

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Jewelry sales for the first six months of 2013 have risen 2.3 percent year on year to $30.323 billion, while watch sales rose 1.4 percent to $4.134 billion. 

The government also revised personal consumption expenditures “by product type” during July, which ultimately narrowed the rate of growth for the jewelry sector dating back to January 2012 and affected annual totals for the past two years. The jewelry and watch sector total in 2012 rose 5 percent year on year with jewelry  sales of $64.762 billion, according Rapaport News calculations, and watch sales of $8.831 billion. In 2013, the sector experienced a 5.7 percent increase with jewelry sales of  $68.428 billion and watch sales of $9.331 billion, according to our calculations.

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Sterne Agee’s analyst Ike Boruchow observed that specialty retailers  experienced choppy sales trends in the month of June.  “Our store work and channel checks suggest an uneven sales month, potentially driven by cooler weather and lack of ‘must have’ items,” he wrote in a note to clients. “During the month, 49 percent of our weekly promotional observations showed greater discounting year-over-year, while only 24 percent of observations were less promotional than last year, similar to June’s 48 percent and 20 percent breakdown.” The most restrained  discounting was observed at Signet Jeweler’s  Kay brand, while Fossil stores did not repeat a coupon that was sent to customers a year ago, according to Boruchow. Looking ahead, Stern Agee anticipates special retailers to experience a 2 percent to 3 percent comparable-store sales increase.

Advanced sales estimates for department stores in June fell 0.9 percent to $13.233 billion. The sector experienced a sales decline of 1.1 percent in May to $13.894 billion. However, advance estimates of all U.S. retail and food services sales in June increased 4.3 percent year on year to $439.9 billion. Retail trade sales rose 4.1 percent and nonstore retail sales increased 8.1 percent in June.

Jack Kleinhenz, the chief economist for the National Retail Federation (NRF), calculated June’s retail sales,  excluding automobiles, gas stations and restaurants, to have increased 0.5 percent seasonally adjusted month-to-month and 3.9 percent unadjusted year-over-year.

Kleinhenz stated that the increase reinforced the strength of consumer confidence and upward revisions for April and May have provided positive signs of momentum for second quarter growth, following a dismal first quarter.

Preliminary chain-store sales data for July indicated that comparable-store sales rose 4.1 percent year on year, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs.   Michael Niemira, ICSC’s research leader, said,  “There were 12 states that had a sales tax holiday during the week, which helped propel back-to-school sales. As a result, I expect sales for July to increase by better than 4 percent.”

16Aug 2014
PJ-BW394_TOT_G_20140806124515

Carolyn Rafaelian, chief executive of jewelry label Alex and Ani, demonstrates how to wear multiple bracelets. She can comfortably wear seven or eight on a wrist. Bob O’Connor for The Wall Street Journal

Take a look at how this fashion designer is wearing jewelry in a cool, new way to create intriguing effects! 

As reported by the Wall Street Journal.

By Cheryl Lu-Lien Tan

A piece of jewelry doesn’t have to make the same statement over and over. It can prove far more versatile when paired with several others for a personalized effect.

“It’s not just a look—you’re also creating a little statement vibration,” says Carolyn Rafaelian, founder, creative director and chief executive of the jewelry label Alex and Ani. “It defines you when you meet someone for the first time—it offers another layer of what you’re like.”

Ms. Rafaelian, who launched the line named for her two daughters in 2004, says she believes there are generally no rules when stacking jewelry pieces. But there are a few tricks she uses repeatedly: She often sparks up tennis bracelets and other traditional pieces by wearing them with more unusual pieces.

Ms. Rafaelian mixes traditional and unusual pieces. Bob O'Connor for The Wall Street Journal

Ms. Rafaelian mixes traditional and unusual pieces. Bob O’Connor for The Wall Street Journal

She also likes to work a piece with personal meaning into the mix. “My father passed away a couple of years ago, and he had a bracelet that he wore for as long as I could remember,” Ms. Rafaelian says. The bracelet, a precious gold piece with a chunky serpentine-link motif, is a little bit masculine, she says. “When I wear it, I’m literally feeling a piece of him that’s always with me—and that gets layered into my own look.”

To offset its chunky, mannish look, Ms. Rafaelian often pairs the piece with multiple thin bracelets. The key to successful stacking of jewelry is noting the balance and ensuring that the pieces move well together, she says. “When your arms are moving, look at how the pieces all fall.”

She stacks chunky and thin bracelets that move well together. Bob O'Connor for The Wall Street Journal

She stacks chunky and thin bracelets that move well together. Bob O’Connor for The Wall Street Journal

If one piece is rather thick, it is best to make that the main statement. “I would do thin bangles with a cuff,” Ms. Rafaelian says, noting that the cuff stays in place while the thinner pieces fly up and down the wrist, creating a “little peekaboo effect.” She likes mixing and matching disparate items: She is fine with mixing metals, as well as working in wood and other materials.

With bracelets, Ms. Rafaelian steers clear of stacking precious pieces, noting that stacked bracelets can sometimes rub stones the wrong way or loosen up. “These things move and touch each other and they can open up a clasp,” she says.

She can comfortably wear as many as seven or eight bracelets on a wrist, she says. “I’d do a ratio of seven thin bangles to one thick one.”

Ms. Rafaelian says as many as eight bracelets can be worn comfortably on a wrist. Bob O'Connor for The Wall Street Journal

Ms. Rafaelian says as many as eight bracelets can be worn comfortably on a wrist. Bob O’Connor for The Wall Street Journal

For necklaces, Ms. Rafaelian says, it is best to go with a smaller number. “Three would be the limit, because you’re eventually going to have a tangling problem,” she says.

It works best if the different necklaces are of different lengths, Ms. Rafaelian says, “so they’re hitting each other in the right places and not jumbled up in the same place.” She sometimes likes to have a “nice thick chain that is 16 inches long, and then a longer, thinner one that’s 30 to 32 inches. It’s a beautiful look,” she adds. “If you have a longer chain that’s hitting past the cleavage area, it has a long and sexy feel.”

When it comes to rings, “there are people who can wear rings on all fingers and pull them off,” Ms. Rafaelian says. But this look may be too much for most, especially in an office setting. “Personally, I like to load up one finger with multiple rings,” she says. It’s important to know when to stop, though. “When it reaches the fold of your knuckle, you’re done,” she says

Ms. Rafaelian likes to wear rings in pairs of different looks. “I love wearing a band along with a ring that has a motif that dangles—it just gives it some movement,” she says.

She has no problem with mixing metals in a stacked look. “Copper peeking through silver is very pretty,” she says. “But if you’re going for more of a subdued or cleaner look, just concentrate on one color.”

A mix of metals can look pretty in a stack of bracelets, Ms. Rafaelian says. Bob O'Connor for The Wall Street Journal

A mix of metals can look pretty in a stack of bracelets, Ms. Rafaelian says. Bob O’Connor for The Wall Street Journal

When aiming for a striking look, it is important to pick a single statement, she says. “If your statement is in your outfit, then keep it there, make your jewelry complementary to that,” Ms. Rafaelian says. This is especially important to observe in a conservative office setting, where the stacked jewelry look might work best for just the hand, neck or at the wrist, instead of two or three areas.

Another consideration is the noise all those pieces make when you move. “If you have big chunky wooden bangles and they’re constantly clunking together, that can be very distracting,” Ms. Rafaelian says. Consider how the items feel as well. “If you’re spending all sorts of time fixing it, that’s really not what you should be thinking about when you have something on.”

 

14Aug 2014
Instagram/kimkardashian; Courtesy of Martin Katz

Instagram/kimkardashian; Courtesy of Martin Katz

All of the celebrity brides are trying this year’s newest wedding fashion trend, which involves using diamonds to match with gowns. 

As reported by InStyle.com.

By Marion Fasel

What’s jewelry rule No. 1 with celebrity brides this summer? If you are going to wear a complicated dress, keep the accessories simple—think diamond studs.

Kim Kardashian (surprisingly) was the first bride of the summer to go low-key with jewelry at her May 24 wedding in Florence. The reality star kept her jewelry to an absolute minimum and paired Tobey diamond studs by Los Angeles–based designer Martz Katz with her ornate custom-made Givenchy lace gown. Kanye West gave Kim the sentimental jewels, that appear to have been her “something old” in her wedding day ensemble, around the time they announced she was pregnant with North West. The delicate diamond design Kardashian has been wearing steadily over the last year features a central stone surrounded by a halo of smaller gems.

Olivia Palermo put on a very different style of diamond studs for her June wedding to Johannes Huebl in Bedford, N.Y. The studs, that very well could have been the bride’s “something new,” were specially created for her by Alexandra Mor who was delighted the fashion maven debuted them on her wedding day. The New York–based jewelry designer’s Snowflake studs have lines of yellow gold alternating with lines of diamonds. The look of the earrings mixed in perfectly with the stylish bride’s textured ponytail and her three-piece Carolina Herrera sweater, shorts, and long tulle skirt ensemble.

Diamonds studs are not only a great jewelry choice for bride’s wearing elaborately detailed gowns. They can also be worn almost as frequently as an engagement ring after a wedding. Plus they are instant heirloom pieces. Johnathon Arndt who created American Idol Kelly Clarkson’s engagement ring also put together the classic 11-carat diamond studs in prong settings the singer wore on her wedding day last October. “Diamond studs compliment a bride’s gown without overpowering it,” explains Arndt. “It gives the bride a beautiful look and something to pass down to her children in the future.” In other words diamond studs can provide a happily ever after in jewelry to your wedding.

12Aug 2014

article-2718765-2054185D00000578-193_634x520By holding a contest that everyone would want to win, A British diamond company is using social media in a unique way in order to spread its brand. 

As reported by the MailOnline.

By Deni Kirkova

“A diamond worth £12,000 was shot into space this morning – and whoever finds it when it lands back on earth gets to keep it.

The sparkler was mounted to a steel frame and attached to a helium balloon. It will rise above the earth until the atmospheric pressure at the edge of space causes the balloon to pop.

The diamond will then parachute back down to earth in a giant orange parachute – and whoever finds it will be a cool £12,000 richer.

The diamond was launched just before 9am today from a field in Derbyshire and is expected to land back on earth around noon.

A tracking device has been fitted to the diamond and the firm will be tweeting clues using #diamondinthesky for gem hunters to join in the race in the search for the gem when it lands.

The potential ‘drop zone’, however, is estimated to cover a range of more than 60 miles – meaning it could be days before it is found unless it lands in the middle of a village, town or city.

The UK Civil Aviation Authority (CAA) and online retailer 77 Diamonds worked together to launch the jewel into space and are tracking its path.

Chiefs at the website with the ‘largest selection of natural diamonds in the world’ hand-picked the diamond was for its ‘brilliance and sparkle’.

The gem is a ‘modified cushion brilliant cut’, similar to the engagement rings of Kim Kardashian and Jessica Biel.

Bosses at 77 Diamonds, which takes its name from the first ever diamond engagement ring given by Archduke Maximilian I of Austria to Mary of Burgundy in 1477, say the stunt is to raise awareness of the firm’s access to 80 per cent of the world’s finest polished diamonds.

It is also aimed at promoting its so-called interactive universe, called Diamonds in the Sky, which allows users to fill a virtual night sky with thousands of stars – each one unique and named after someone special.

Tobias Kormind, co-founder of 77 Diamonds, says: ‘We are very excited about the launch.

‘What better way to raise awareness of our virtual universe than by actually making it a reality and putting a diamond in the sky for the first time ever.

‘With Diamonds in the Sky, we wanted to explore the parallels between diamonds and stars in an imaginative and engaging way.’

06Aug 2014

rs_600x600-140731131115-600.avril.cm.73114Avril Lavigne’s new 17-carat diamond ring is a stunner.

As reported on Eonline.com.

by Cinya Burton

When Nickelback frontman Chad Kroeger popped the question to Avril Lavigne in the spring 2013 he presented her with a very impressive 14-carat pear-shaped diamond ring.

Now, more than a year later and on the couple’s first wedding anniversary—as incredible as it is to believe—the rocker has gifted his wife with an even more amazing sparkler. A massive 17-carat diamond ring, to be exact.

The “Smile” singer shared a snapshot of the blinding bling on Twitter today and you may want to don your shades before you sneak a peek.

The photo shows the pair all smiles while her left ring finger clearly displays the new jewel, which basically spans knuckle to knuckle. “I still can’t believe my 1 year anniversary gift. 17 carat emerald cut. Wow. I love my hubby,” she caption the picture.

“Emerald diamonds are one of the most classic and elegant cuts,” Morgan Shara of MAS Creative told E! News. (MAS didn’t do this ring, but was happy to provide an expert opinion.)

“Avril’s ring could be anywhere from several hundred thousand [dollars] to in the millions, depending on color and clarity.”

Way to set the bar high, Chad! If this is his gift after year one, we can’t even fathom how he’d celebrate a decade of marriage let alone their golden anniversary.

—Additional reporting by Lindsey Caldwell

06Aug 2014
Fine-Jewelry Shoppers Flock Online

F. Martin Ramin/The Wall Street Journal, Styling by Paula Knight, Model: Ayesha Adamo/Carmen Hand Model Management

While traditional shoppers feel they need to see and hold jewelry themselves before committing thousands of dollars for an item, many shoppers are now turning to the Internet to purchase high-end creations. AsThe Wall Street Journal reports in their recent article “Fine-Jewelry Shoppers Flock Online,” many people are now using smartphones, tablets and computers to purchase jewelry, rather than visiting physical locations.


Counterintuitive as it may be, the fastest-growing place to buy fine jewelry is online, via computers, tablets and even mobile phones.

by Lauren Sherman

THOUGH IT DOESN’T offer the same nostalgic rush as an in-store visit, it’s possible that a modern-day Holly Golightly might chase away her “mean reds” by visiting Tiffany & Co.’s website and purchasing an 18K gold Paloma Picasso cuff made to resemble a thicket of tiny olive leaves ($11,500) or a yellow-diamond-and-platinum key pendant ($21,900). Today’s fine jewelry buyer is increasingly turning to a computer or mobile phone and clicking to buy four- and five-figure pieces with nary a worry.

E-commerce site the Editorialist, which sells everything from Kimberly McDonald diamond earrings for $52,800 to Anita Ko’s $1,045 rose-gold diamond ear cuffs, reports that half its net sales come from fine jewelry. Earlier this year, website Moda Operandi hired its first director of fine jewelry and watches, Amalia Keramitsis, and has, in the past year, increased the frequency of its fine jewelry pre-sale “trunk shows” to between 10 and 15 a month, up from a few. And fashion e-commerce behemoth Net-A-Porter has seen a serious uptick of jewelry sales in the past couple of years, according to buying manager Sasha Sarokin. Accordingly the site has been adding to its jewelry roster, particularly by buying up “teeny-tiny, specialist” brands like Netherlands-based Bibi van der Velden.

“It has a lot to do with trust,” said Emerald Carroll, co-founder of the Stone Set, an editorial website dedicated to jewelry. “Once [a woman has] bought a dress for a few thousand dollars and 10 pairs of $700 shoes from a website and had a great experience, she feels secure buying an expensive piece of jewelry.”

She also has more options than ever. Along with monobrand sites like those of Tiffany & Co. and Cartier, she’ll find multibrand sites, that also sell clothes and accessories, like Matches Fashion—the web offshoot of UK-based luxury retailer Matches—which has sold fine jewelry since it launched in 2007, and Los Angeles-based Just One Eye. (In fact, the latter’s highest-grossing category is fine jewelry.)

In the past couple of years, smaller jewelry-only sites such as Latest Revival, which sells a mix of estate and contemporary pieces, and Stone & Strand, founded by a Wharton M.B.A. and former fashion editor, have also popped up. Even J.Crew last month debuted a fine jewelry section on its site, with pieces by BRVTVS and Monica Rich Kosann; in keeping with its ethos of affordable luxury, almost everything is under $3,000.

For most of these retailers, however, it isn’t uncommon to see single-item orders reaching $20,000 and higher. “We’ve been surprised at how quickly people will purchase a high price [item] online,” said Kate Davidson Hudson, co-founder of the Editorialist. “Someone will buy a $60,000 David Webb earring on an iPhone.” (The site’s biggest single sale—a three-piece suite of David Webb jewelry—was $78,000.)

That is a recent development, as Joanne Teichman can attest. The owner of 29-year-old Dallas jewelry store Ylang 23, which sells brands such as Cathy Waterman and Jennifer Meyer, launched e-commerce in 2000. “It was a really slow start,” Ms. Teichman said. “I remember when we got our first online order. I thought, ‘We just turned the spigot on!’ Wrong.” It wasn’t until 2008, she said, that business gained traction.

The main appeal of buying fine jewelry online isn’t so different from that of shopping for shoes or a coat: efficiency and ease of access no matter where you are in the world. “I’m a massive online shopper; fighting the crowds of tourists doesn’t appeal to me,” said Jasmin Farrag, 37, a Londoner who works in software sales and has bought a few pieces via Stone & Strand. “Obviously fine jewelry is a bit more difficult, but [with] Stone & Strand, I feel comfortable.”

What’s most important to Ms. Farrag is that a site offer enough information—both visual and factual. “I want to be able to see it close up and on somebody’s body,” she said. “That helps to give you scale.” She doesn’t visit sites that won’t offer specific ring sizes, for instance. Net-A-Porter’s Ms. Sarokin believes that its detailed descriptions, which include carat weight, give the site an advantage over those that don’t.

Even for shoppers in big cities, the array of brands available via the web is unmatched. Stone & Strand is about to introduce designs by edgy British designer Shaun Leane, whose work isn’t widely available in the U.S. Because of its trunk-show format, Moda Operandi can offer a wider selection of pieces from a designer than a department store might stock.

A lofty level of service is also crucial. Any of these retailers will coordinate with individual designers to create pieces specific to a VIP’s requirements. “We have a customer-care team,” said Moda Operandi’s Ms. Keramitsis. “If we do a Nina Runsdorf show and someone would love to see a different color or change a stone, [the team] takes care of any need.” For delivery, most brands use services like Ferrari Express (not related to the car) or Malca Amit, which specialize in high-value objects. That said, Stone & Strand founder Nadine McCarthy Kahane has been known to hand-deliver pieces personally.

There are still downsides to buying online. Even in high resolution, colorless jewels can read flat. And even when you know the dimensions and details, sometimes a piece just isn’t right. (Most sites allow returns of non-custom gems.) For most women, however, those little aggravations don’t make it any less worthwhile. “Jewelry has been bought sight unseen for decades,” said the Stone Set’s co-founder Jenna Fain, referring to the intimate relationship that big collectors often had with luxury jewelers. “In some ways, with the trusted payment methods and easy returns, it democratizes the practice.”

07Jul 2014

According to the College Board, the average cost of tuition and fees for the 2013–2014 school year was $30,094 at private colleges, $8,893 for state residents at public colleges, and $22,203 for out-of-state residents attending public universities. This does not include costs associated with room and board, meal plans, books and school supplies.

In fact, according to a recent report in the Wall Street Journal, the Class of 2014 is the most indebted college class ever. The article stated that, “The average Class of 2014 graduate with student-loan debt has to pay back some $33,000, according to an analysis of government data by Mark Kantrowitz, publisher at Edvisors, a group of web sites about planning and paying for college. Even after adjusting for inflation that’s nearly double the amount borrowers had to pay back 20 years ago.”

“It’s not new news that college is one of the most expensive investments for your child’s future,” said Peter Fabrikant, Partner of Andrew & Peter Fabrikant, a nationwide leader in diamond and estate jewelry buying. “If we look at colleges and universities in New York State, a private institution like Syracuse University, tuition alone costs upwards of $40,000 and State University of New York schools like Binghamton, Albany and Stony Brook even range from $6,000 to $10,000 yearly. Out-of-state popular schools like George Washington and Duke are even more expensive at almost $50,000 in yearly tuition alone. These costs can be overwhelming, but there are alternative ways to fund your child’s education.”

One such way is selling unwanted jewelry. “There are many reasons why someone would consider selling jewelry and one of the most common, that we have seen, is to pay for a child’s education,” Andrew Fabrikant, Partner at Fabon5th.com adds.

As tuition costs continue to rise, selling your jewelry as an alternative way to finance an education can be a good idea. “But, be careful how you go about selling your diamonds, gold or other fine jewelry. Look for an established company with a history of excellence,” warns Peter Fabrikant.

“Too often jewelry buyers pay you only on the scrap value. Our assessment of the true value of your items based upon the value of the workmanship and desirability of the piece gets you the maximum payout,” says Andrew Fabrikant. “If there is a history attached to the jewelry, as there often is when dealing with Rolex, Tiffany and Cartier brands, we take that all into consideration before deciding on the value of the piece.”

As the cost for college increases year after year, people need to look at alternative financing options. Peter Fabrikant says, “Selling jewelry that you no longer want or need can be a beneficial move to help you finance your child’s pursuit of a higher education, while not saddling yourself with unnecessary debt.”

Andrew & Peter Fabrikant, Fine Diamonds and Jewelry (FabOn5th.com), are nationwide leaders in diamond & estate jewelry buying. They specialize in signed and unsigned estate jewelry (pre-owned jewelry), diamonds, watches, gold and other fine jewelry from anywhere in the United States. With four generations and more than 100 years in the jewelry trade, they have an established name of assessing each item of jewelry not only for its intrinsic worth but its aesthetic value, its market desirability and history. Andrew & Peter Fabrikant will guarantee any and all purchases for quality and price. For more information call 1-800-570-Gems or visit http://fabon5th.com.