$20 Million Dollar Wedding Cake

Diamonds have been used in every industry from jewelry, fashion to manufacturing. Who would have ever thought that people would want their cake and eat it too, literally. The first ever Luxury Brands Bridal Show in Beverly Hills' famous Rodeo Drive, will have a diamond laced wedding cake as its centerpiece. This one of a kind cake was made by Mimi So Jewelers of Beverly Hills and renowned cake designer Nahid La Patisserie Artistique, with an estimated value of $20 million. The diamond wedding cake is just setup as a centerpiece and no one will be eating the cake. This sparkling creation is said to be the most expensive wedding cake ever. The bridal show hosted by Weddings in the grand tradition, will feature information on everything from the ceremony to chocolates, diamonds, photography, flowers, and honeymoon destinations and more. Find more info at: Weddings in the Grand Tradition.

DTC October Sight $600-$625M

Every Month the DTC releases a sight of diamonds to a select group of about 80 DTC Sightholders. These sightholders are world leading diamantiers, and are chosen based on their expertise in diamonds and marketing. This is an article from Rappaport, that we thought was worth a mention.

The Diamond Trading Company's (DTC) eighth sight of 2006 ended October 6. Estimated value of rough on offer suggested a range of between $600 million and $625 million. According to a DTC spokesperson there were no price changes.

"We have listened very carefully to the feedback from our sightholders over the past few months and have endeavored to ensure that the boxes available at the October sight represented good value," the spokesperson said.

The DTC confirmed too that it has accommodated sightholder requests to defer and/or reject goods.

Special Thanks to the DeBeers Group.

Booming U.S. Economy causes upswing in Diamond Engagement Rings Trends

With the booming economy, high professional salaries, and a relatively stable housing market, more and more women tying the knot this year are doing it with a diamond engagement ring. This year the hottest trends in engagement ring design have been narrowed down to five styles that will be prevalent on the ring finger of many fiancées before the big day. The engagement ring landscape has changed dramatically over the last decade, the classic is still classic, to add the vintage look is back, titanium settings to differentiate from platinum, and the color stone rage, which celebrity fiancées have made famous. The average diamond engagement ring goes around the $10,000 range, but the amount of large stone rings being sold today has set record prices paid for vary rare stones.

The classic diamond engagement setting is still a staple of the diamond engagement ring business. The classic setting is always a good option, since you can wear the ring tastefully for the next 30 years and it will still turn heads. Many classic rings from decades ago have been passed on as heirlooms over the years. The classic solitaire diamond engagement ring remains a favorite amongst woman getting engaged even in today’s contemporary society. The classic solitaire setting has many variations in band and prong styles, but the key is that a single solid diamond sits on top, and shines with exuberance. If your budget is flexible you have the option of a diamond accent ring as well, which gives you a few more options to the classic setting. Round cut diamonds remain as the top seller for engagement rings, followed closely by princess cut diamonds. Emerald and oval cut diamonds seems to be the trend amongst more mature woman looking for a more elegant look.

Platinum remains the top choice for engagement ring settings, however with the dramatic rise in price, yellow and white gold have become a very viable option for cost conscious couples. With platinum bands the design no longer remains plain and simple, now more than ever woman are demanding carved designs or inlaid with precious side stones. For grooms however the most popular choice still remains the classic thick platinum band. A new trend in precious metal settings is titanium, which is very popular among men. Studies have shown that many men and women are opting for titanium over platinum or gold due to its hypoallergenic properties. Titanium is also a stronger metal than gold or silver, but lighter in weight than platinum and a cost effective alternative to platinum.

The antique look is also making a very big comeback with the hottest engagement ring designers in the industry. Vintage pieces have come out of the houses of Tacori, Ritani, Vassi, Harry Winston Jewelers and American Diamonds Forever. The vintage look has made a big comeback in the major fashion houses around the world, and is pushing the rush for the vintage diamond engagement ring. Women are now looking for more than just an engagement ring; they’re looking for it to have a bit of old world style with a contemporary flair. The antique ring design will have lots of scrupulous details such as tiny diamonds and beaded edges around the band. The antique look suits the more modern, independent, sophisticated woman that is looking to set her self apart fro the crowd. More designers and retailers are now offering vintage styles to meet the growing demand of today’s modern woman.

The newest trend in engagement rings is using colored stones/diamonds over traditional diamonds. Over the last 3 years colored stones have been on the upswing due to their celebrity status in Hollywood and the music industry. A growing number of women are opting for colored stones over traditional diamonds to represent their individuality. The most popular have been the yellow and pink diamond. The yellow diamond has become a status symbol amongst men in Hollywood and the music industry. These colored stones are being set in frilled bands to achieve a whole new type of vintage look.

Overall the rise in the economy over the last two decades has changed the face of the diamond engagement ring industry.

Insuring your diamond jewelry purchase, is it worth it?

So you saved up enough money to get the 1.5 CT Platinum Diamond Engagement Ring, and on the first day of your honeymoon your new wife notices that her $10,000 diamond engagement ring is missing, help!!!! Did you remember to insure that diamond ring before you gave it to her? Were you debating the fact of having to deal with another monthly insurance premium to add on to your list of bills? Well when you are making any diamond purchase that is more than 1 CT or $5,000 you need to insure your purchase, for those moments when you least expect an emergency. Insurance is just that, protection for your assets and a peace of mind that can only be achieved by knowing the fact that no matter what happens your asset will be replaced or repaired regardless of what happened.

When you make your first diamond jewelry purchase that is over 1 carat in size, do remember that it is best practice to get the diamond insured. Most jewelers will give you an appraisal or certificate when the diamond is of substantial value. If you are making a purchase that is larger than 1 carat in size you should also request a diamond certificate that comes from a reputable independent grading laboratory such as the Gemological Institute of America (GIA), European Gemological Institute (EGL), International Gemological Institute (IGI) or American Gem Society (AGS). A diamond certificate from a reputable grading lab will only have grading characteristics on the quality of the diamond, and will never contain any type of valuation

When insuring jewelry that includes multiple smaller diamonds, or colored diamonds, always insist on the appraisal to explicitly state whether the gems are natural or synthetic, since the valuation will differ greatly. The word synthetic may have disagreeable associations for buyers, so gem manufacturers use a group of terms, cultured, artificial, created, grown, and lab grown, to describe these synthetic gems. Any colored diamond that is ½ carat or larger should come with a certificate from a reputable grading lab such as the GIA, EGL, IGI or AGS.

It is good practice to get your jewelry valuation at regular intervals as diamond prices fluctuate to market trends. It is also a good idea to get your diamond reexamined for valuation if you ever have to send in your jewelry for cleaning or resizing, as a non reputable jeweler may switch the stone and you as a general consumer would never know the difference.

ADF's Insurance Rules of Thumb:

Most Insurance carriers will offer jewelry insurance. A general homeowner’s policy will give you unscheduled personal property coverage which covers jewelry, but the generic policy will usually have a theft limit as low as $500. For higher priced jewelry most insurance companies offer scheduled jewelry insurance to cover specific items. This can be written as a stand alone policy or attached to your homeowner’s policy; the allowed coverage also covers all risks worldwide.

Chubb’s Insurance provides worldwide jewelry insurance specifically covering lost or stolen jewelry. Jewelers Mutual Insurance is another good reference for jewelry insurance. An appraisal might be required at time of insurance of jewelry, please check with your specific agent for specific company requirements.

Premiums vary from state to state and from company to company even within a specified local area. Rates are usually quoted per $100 of insurance, and most policies have just one rate. Some, however, have graduated rates, charging a higher rate on more expensive jewelry than on lower-priced jewelry. If this is your case and you are insuring jewelry over $25,000 we recommend going with a Specified Insurance carrier such as Chubb’s or Jewelers Mutual. By insuring your jewelry with your current insurance carrier should give you the best possible rates, but remember due diligence and do your comparison shopping.

If you file a claim, your options may be:
• repair the jewelry
• replace it with “like kind and quality”
• pay you the actual cash value
• pay you the amount equal to the “cash equivalent” had the company secured repair or replacement
• pay out the item’s scheduled amount.

Not all policies offer all these options. For instance, a policy may allow only repair or replacement, not a cash settlement. Be sure to discuss all options and allowed rights of your insurance contract with your agent. Many people assume that the scheduled amount, usually based on the appraisal is the amount of cash they will receive if the jewelry is lost. This is not the case. The scheduled amount represents the company’s maximum limit of liability or the most it will pay out.

Have copies of the sales receipt and appraisal for the insurer to keep on file. The appraisal should describe the jewelry in detail and give a valuation. Appraisals are often accompanied by a detailed photo of the diamond or jewelry item. If this is lacking, take a photo of the jewelry yourself and bring it along with all paperwork. Also bring any other documentation you may have, such as a GIA Diamond certificate or any secondary appraisals you may have gotten.

In conclusion, insuring your jewelry purchase over $5000 is worth it. Insurance provides you the comfort of knowing your diamond is safe and secure. When purchasing a diamond larger than 1 CT remember to request a diamond grading certificate from a reputable laboratory such as GIA or AGS. Remember no matter how safe and responsible you might be, you never know when an accident can happen, and the proper jewelry insurance plan provides that safety net.