Rapaport, June 2, 2009: Jewelry Business Carries On Despite Bad Economy

RAPAPORT... The JCK Vegas show wrapped up with no surprises, considering economic conditions in the U.S. The shortened show schedule was a crowd pleaser, and buyers in attendance snapped up jewelry that was priced right and offered unique designs. In this broadcast, you can see the exceptional 525.55-carat tanzanite stone, which was on display at AGTA Las Vegas. This eye-clean, cushion-shaped tanzanite was cut and polished by Rare Multicolor Gems of New York and is scheduled for auction later this year. Doug Hucker, AGTA chief executive, discussed the reasoning behind an industry call to action urging Congress to review the Tom Lantos Block Burmese JADE Act of 2008. In a letter sent to Hillary Clinton, U.S. secretary of state, eight industry groups argue that the law, which prohibits importing of ruby and jade from Myanmar into the U.S., has negatively impacted artisanal miners. The PAJ Group launched its patented Magnificut diamond collection, which is a single table intersected diamond, at JCK Vegas. Felix Chen, PAJ Group president, explained the technology behind the Magnificut, which proved to be popular with price-conscious retail buyers at this show.

For more information on those interviewed by Rapaport News:

American Gem Trade Association
http://www.agta.org/default.html

Rare Multicolored Gems
tel. 212.869.7855

PAJ Group
Magnificut
http://www.magnificutdiamond.com/

Category:

News & Politics

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