Adapting to the changing silver market, and predictions for its future

14
ROUNDUP
AND bRIEfLy
Hallmarking down again in July
Hallmarking continued its downward
trend in July, with only 896,015
items submitted for hallmarking to
Britain’s four assay offices – a 23.9
per cent year-on-year decrease.
Palladium was the only precious
metal to register an overall increase
in the number of items hallmarked,
with five per cent growth compared
to July 2010. Silver fell 31.3 per
cent and gold 13.6 per cent, while
platinum stayed relatively flat.
W&W opens first studio
Bespoke British jeweller W&W has
opened its first studio, located in
Webbs Road in the heart of Battersea.
“Breaking away from the traditional
shop front,” W&W said the studio
is “an inspiring environment where
clients can relax and enjoy their
jewellery experience.” Director
Richard Warrender added: “The
move to our new studio in Battersea
has been an exciting and progressive
time for us. W&W now has a
luxurious home where we can really
showcase what we are all about.”
Chamilia enters into global
partnership with Swarovski
Chamilia has announced that it has
entered into a “strategic partnership”
with Swarovski. The alliance will
see Swarovski combine its crystalcutting
expertise with Chamilia’s
personalised jewellery to create a
special co-branded bead collection.
“Chamilia is thrilled to be working
with Swarovski to further develop our
personalised jewellery brand,” said a
statement from the company.
Strong sales for Argent of London
Argent of London has announced
strong like-for-like sales growth of
nearly six per cent for the first half
of 2011. The brand, which is noted
for its distinctive, affordable designs,
showed particularly strong internet
sales; up 44 per cent on the same
period last year. In announcing the
results, Gail Goodrich, managing
director and head of design, said
she was particularly pleased as they
“followed strong Christmas sales.”
CMJ Media appointment
CMJ Media, the UK’s dedicated
media company for the jewellery
industry, has added a new member
to its team – freelance jewellery
PR Katharine Realff. Katharine
has previously worked at Swarovski
Corporate Communications and APR
Communications, and will be making
use of her vast amount of experience
and contacts within the industry as a
consultant with the CMJ Media team
on various projects and events.
IDmA president hits out at
‘dangerous’ diamond tenders
The president of the International Diamond Manufacturers Association (IDMA) has warned
that a number of large diamond producers are upending the sustainability of the diamond
industry at large by selling their production through tenders.
In an article that appeared in the July edition of HaYahalom, the magazine of the Israel
Diamond Institute, Moti Ganz said: “If the rough producers don’t wake up in time, it won’t be
a mere interference, but a blow to our very existence, capabilities and survival.”
Ganz argued that tenders make sense in a world where they are one of many instruments
of supply, but not when all or most supply is based on tenders. “Manufacturers that engage
in occasional diamond processing might be able to survive in a world where there are only
tenders,” he stated, “but even then it will be with difficulty… because those who manufacture
in large quantities can dominate the tenders and push prices to a level that medium-sized
manufacturers can’t reach.
“When we examine these aspects of tenders, we realise that they weaken each and every
link along the diamond value chain,” he continued. “The most prominent victims are
manufacturers and retailers, but there is also another – the rough producer, so dazed by the
hefty profits that it doesn’t notice the danger lurking around the corner.”
Change of management at
Chronoswiss as Lang steps down
Gerd-Rüdiger Lang, the founder of German watchmaker
Chronoswiss, has announced that he is to withdraw from
taking an active part in the daily running of the company.
Lang, who has served in his current role for 28 years,
will, however, continue to support the brand as the
chairman of a newly created advisory board – comparable
to a board of directors – and the company says it will
“continue as an independent family business in public.”
As of the 1 July, the board of management consists of
Sigrun Schillings-Heinen, Chronoswiss’s head of business
administration, and Karlo Josef Burgmayer (pictured), the
company’s head of sales.
“After the crisis and the economic difficulties of 2009
to 2010, the right moment had not come yet,” explained
68-year-old Lang. “However, in view of the great feedback
we received at the BaselWorld fair and our promising new
models and very positive development in the first half of
2011, the course for a successful future for Chronoswiss is
now set and I feel the time is ripe for a change.”
Dear Editor,
A valued customer of mine recently asked us to forward any policy statements from bullion
dealers confirming the provenance of the gold we purchased from them, so I looked up the
websites of our principal suppliers.
Some of them came up with a statement confirming that their gold was ethically produced
– whatever that really means – and others have not, as yet, put a form of words together.
We should all, quite rightly, be concerned about the possible exploitation of child workers,
dangerous working conditions and poor housing, but where will this paper trail end?
One well-known supplier is about to introduce a limited amount of ‘Fairtrade’ gold, and
doubtless others will try to follow suit, but this gold will come at a price, and in limited
quantities, so only some customers will be able to deal in this gold and salvage their green
credential pride.
Much of the gold produced today goes to China and India for use in factories producing
jewellery for sale in the UK. Are their working and living conditions comparable to this
country? I suspect not.
If manufacturers in this country get tangled up in Fairtrade agreements they will have
prices compared even less favourably to those of imported goods, and heaven knows the
average jewellery wage in the UK is poor enough (for those still in business today).
And what of the ‘get out’ of ‘recycled’ gold. What were the working conditions like when
the gold was originally produced?
The manufacturing jewellery trade in this country is slowly being strangled by imports.
Let us not contribute further to this by tying ourselves in even more knots.
Paul Alabaster