U.S. Retail Diamond Jewelry Market Grows For 10th Consecutive Year
IDEX Online, Israel
(May 4, ‘06, 11:11 IDEX Online Staff Reporter)
The Diamond Information Center at JWT reports that retail sales of diamond jewelry in the U.S. increased by 7 percent in 2005. Total U.S. retail sales for the diamond jewelry category, which represents over 50 percent of sales worldwide, totaled $33.7 billion in 2005 – a $2.2 billion increase over 2004 sales of $31.5 billion. The total number of transactions grew by 3 percent over 2004 and average ticket price showed a 4 percent growth.
“Following a year of tremendous growth, we must continue to challenge ourselves to expand the diamond jewelry market, not only by creating new designs, but also by discovering new integrated ways of reaching our consumer,†said Richard Lennox, director-in-charge of the Diamond Marketing and Advertising Group at JWT. “We are lucky to work with a product that holds such a deep emotional meaning for consumers; however, we must not take this for granted. As a collective industry, we must protect these emotions if we hope to continue to move the market in 2006 and beyond.â€
JWT looks to drive the market by continuing to introduce new products, as well as reinvigorating key gifting occasions. In 2005, Three-Stone Diamond Jewelry continued to be a key driver for overall sales growth. The Three-Stone category – any piece of diamond jewelry that consists of three diamonds representing a couple’s past, present and future – had double digit sales growth of 11 percent. Since its launch five years ago, the average annual sales growth of the Three-Stone category is 27 percent.
Last year, the Diamond Right Hand Ring grew the non-bridal fashion diamond ring category by 15 percent, making it the second year of double digit growth.
In 2005, Christmas was valued at $4.9 billion, an increase of 6 percent over 2004. The fourth quarter has always been essential for sustained growth of the U.S. diamond jewelry sales.
In 2005, diamond engagement rings reached their highest average price at $2750. The total retail value for the diamond engagement ring category is now $4.8 billion, a growth of 7 percent over 2004.
“2006 will be a challenging year as other sectors of the luxury goods market continue to vie for new consumers,†added Lennox. “However, I am confident that with the support of our colleagues across the industry, the diamond group at JWT will continue to contribute strong work that will help to generate important growth in the diamond jewelry market.â€
May 5th, 2006
Appraiser to evaluate jewelry, accessories
Concord Journal, MA
Have you always wondered what your grandmother’s jeweled brooch or your mother’s Judith Leiber purse or that mesh clutch you picked up at a yard sale for $1 is really worth? At 7 p.m. Thursday, May 18, come to the Concord Museum for What is it Worth?, a jewelry and purse appraisal evening, and learn more about your treasure from the expert.
Gloria Lieberman, director of Skinner’s Fine Jewelry Department, is one of the nation’s experts on antique jewelry and an auctioneer and appraiser at Skinner. She lectures extensively both locally and nationally including the Boston Center for Adult Education, the Cambridge Center for Adult Education, Harvard University’s Extension Program, Brandeis University and the Society for the Preservation of New England Antiquities. She is also a teacher and lecturer at Rhode Island School of Design’s (RISD) Decorative Arts program. Her television appearances include BBC’s “The Great Antiques Hunt,” the PBS series “Antiques Roadshow,” and the Boston-based series “Chronicle.
This two-hour event is an open format appraisal. Each guest may bring a purse or piece of jewelry to be discussed by Lieberman in the lecture format. Cost is $10 for Concord Museum members, $15 for non-members; price includes one item for a verbal appraisal and description. Reservations required, 978-369-9763. Reserve early as space is limited
The program is offered in association with the Concord Museum’s special exhibition, “The Purse & the Person: A Century of Women’s Purses.” Purses are far more than containers for life’s necessities; they are private repositories of life stories. The exhibition, on view through July 4, in the only New England showing, combines purses with the everyday objects that filled them. Bejeweled, embroidered, crocheted or made of gold mesh or the most sumptuous leather, these handbags and their contents from gloves and sunglasses to compacts and chewing gum were brought together by a collector who has a passion for purses
The exquisite designs of Whiting and Davis, Judith Leiber, Chanel, Gucci, Prada, and Kate Spade are side by side with the timeless day and evening styles carried by generations of women. Sassy and chic or staid and matronly, kitsch or classic clutch, these vintage purses reveal the personalities, the fashion sense and the day-to-day concerns of women of the 20th century.
The Concord Museum is located in historic Concord at the intersection of Lexington Road and Cambridge Turnpike. The Museum is wheelchair accessible and has ample free parking on Cambridge Turnpike. The Concord Museum is accredited by the American Association of Museums.
General admission to the museum is $8 for adults, $7 seniors (62 and over), $7 students with valid identification. Museum hours are Monday-Saturday 9 a.m. to 5 p.m.; Sunday noon to 5 p.m. (open Sundays June-August 9 to 5 p.m.)
For further information call 978-369-9609 (Taped information) 978-369-9763 (Reservations) E-mail: cm1@concordmuseum.org Web site: www.concordmuseum.org
May 5th, 2006
