THE SECRET IS OUT….
COLIN & JUSTIN, one of the country's favourite couples, have - after 22 years of non-marital bliss - finally decided to do the decent thing and become man and husband!
In a ceremony completely at odds with the flamboyance the two stars are known for, they quietly tied the knot at Chelsea Old Town Hall. The service was kept a closely guarded secret, and while the couple's mothers both gave their blessings, the ceremony, on February 15th, was attended by just two close friends, Elaine and George Ponte, who acted as witnesses.
After the wedding itself the boys headed off for champagne at Oriel in Sloane Square followed by lunch at the Wolsley – and more champagne! They have just returned from their honeymoon at the luxurious Four Seasons Resort Estates on the island of Nevis in the Caribbean.
The two were secretly engaged last December while staying in Muskoka and their engagement rings came from Tiffany's in Toronto and Bulgari, in London.
Scotland's dynamic duo were overwhelmed by the occasion. Colin said "It was just the most incredible thing to do after waiting all these years. We'd recommend it to anyone! A good thing just got even better. We STILL don't know why we waited so long!"
Justine agreed "If we are an inspiration to other gay couples then we are very proud. It's so fantastic that same sex unions are now becoming part of British life. I was so nervous that I got a SERIOUS fit of the giggles mid way through teh ceremony! I literally couldn't stop laughing and then it kind of morphed into tears"
"I'd always said that even after twenty two years with Justin I still wasn't sure if he was the right man for me! Now I KNOW he's the one!" Colin joked. And they are looking forward to their new lives together as a married couple "This is a new beginning for us. We've never rested on our laurels and this marriage is the start of our next exciting journey..."
Justin had the final word. "We are SO incredibly happy. And what a great excuse to buy some new jewellery!"
Wednesday, April 16, 2008
Tuesday, April 15, 2008
The Parmigiani Fleurier Pershing Chronograph Watch
The Parmigiani Fleurier Pershing Chronograph watches available in two versions. The Pershing Chronograph is presented in stainless steel, while the Pershing "One-One-Five" Chronograph is offered exclusively in 950 palladium or 18K rose gold; this limited edition model--offered in a series of 115 pieces in each metal--commemorates the 115-foot Pershing yacht which is the most prestigious vessel in the Pershing line. The cases of each model are richly polished, with contrasting satin elements; they feature the elegant lug design familiar from Parmigiani's Kalpa watch collection, imbued with a distinctive flair borrowed from the hull design of a high-performance yacht. The unidirectional bezel of these watches feature a graduated scale, and rubber elements on the edge to assist with a firm grip. Rubber also adorns the oval chronograph pushers. To go along with the seagoing theme of these timepieces, water resistance is rated at a highly secure 200m/660 feet. Crystals are in sapphire.
The Parmigiani Fleurier Pershing Chronograph watches are available in range of dials which evoke both beauty and technical fascination. Presented in Graphite, Silver, Blu Metal, or Amaranth color schemes, the dials of the stainless steel models display a graceful vertical wave pattern, and a distinctive arrangement of applied hour figures. The chronograph 30-minute and 12-hour subdials are united by a raised double-loop ring and the date appears in a semi-circular framed window in the upper left hand corner of the dial. The unique "Delta" shaped hands are a elegant signature of the house of Parmigiani, and with their luminous coating are as
functional as they are attractive. The limited edition "One-One-Five" models are presented with a tan or silver dial.
Parmigiani Fleurier's exclusive Caliber 334 animates both variants of the Pershing Chronograph. Manufactured by Parmigiani, the caliber reflects the passion for haute horlogerie which has defined all creations of the house since 1996; the bridges are beveled by hand, and feature a Cotes de Geneve pattern. Technically, the caliber offers a 50-hour power reserve, a date display, and chronograph central seconds, minutes and hours. A small seconds display runs continually, so long as the watch is wound.
The Parmigiani Fleurier Pershing Chronograph watch is presented on a Pershing-themed rubber strap and a deployant buckle in rose gold, palladium, or stainless steel, according to the model. The stainless steel versions of the watch are also available on a matching stainless steel bracelet which features satinized center links, and a deployant safety clasp. Each watch is fitted with a solid caseback that is secured by 8 screws. The back displays an engraving of a Pershing yacht.
Source: Vialuxe
The Parmigiani Fleurier Pershing Chronograph watches are available in range of dials which evoke both beauty and technical fascination. Presented in Graphite, Silver, Blu Metal, or Amaranth color schemes, the dials of the stainless steel models display a graceful vertical wave pattern, and a distinctive arrangement of applied hour figures. The chronograph 30-minute and 12-hour subdials are united by a raised double-loop ring and the date appears in a semi-circular framed window in the upper left hand corner of the dial. The unique "Delta" shaped hands are a elegant signature of the house of Parmigiani, and with their luminous coating are as
functional as they are attractive. The limited edition "One-One-Five" models are presented with a tan or silver dial.
Parmigiani Fleurier's exclusive Caliber 334 animates both variants of the Pershing Chronograph. Manufactured by Parmigiani, the caliber reflects the passion for haute horlogerie which has defined all creations of the house since 1996; the bridges are beveled by hand, and feature a Cotes de Geneve pattern. Technically, the caliber offers a 50-hour power reserve, a date display, and chronograph central seconds, minutes and hours. A small seconds display runs continually, so long as the watch is wound.
The Parmigiani Fleurier Pershing Chronograph watch is presented on a Pershing-themed rubber strap and a deployant buckle in rose gold, palladium, or stainless steel, according to the model. The stainless steel versions of the watch are also available on a matching stainless steel bracelet which features satinized center links, and a deployant safety clasp. Each watch is fitted with a solid caseback that is secured by 8 screws. The back displays an engraving of a Pershing yacht.
Source: Vialuxe
Monday, April 14, 2008
Gold price turns high-end jewellery into a dead weight
Demand for the yellow metal will decline as bling sales fall
A gold price of more than $1000 an ounce is not all good news for the industry because it is causing jewellers to become thrifty.
Jewellery gold consumption last year was about 2427 tons, a 23percent decline from 1998.
Philip Klapwijk, chairman of gold market research firm GFMS, expects worldwide gold supply to remain level despite declining output from South Africa.
Klapwijk presented GFMS's latest annual survey in Johannesburg last week.
Last year, GFMS claimed that China had overtaken South Africa as the world's biggest gold producer.
"China is admittedly an opaque market. But we are pretty sure of our data because we look at the few refineries in the region, and these show China is producing more gold now than South Africa," Klapwijk said.
The gold price has soared on the US sub-prime crisis, with high-net investors buying it as a safe haven for their nest eggs.
Klapwijk expects more "skeletons in banks' closets" will keep the gold price high for another two years, but it will inevitably decline back to around $600/oz again.
One reason is the current high prices have made gold jewellery unaffordable and jewellery remains gold's primary market.
According to GFMS's research, more than half of the 161000 tons of gold which has been mined has been turned into jewellery.
"Even in Japan, where purity is a big selling point, jewellers are switching from 24 carat to five carat rings," Klapwijk said.
That represents the gold content of the metal used to fabricate the jewellery dropping from over 99percent to around a fifth.
"At five carats, it isn't even gold anymore. ''Japanese jewellers agree, but they tell me now that people are buying five carats, they are unlikely to ever sell 24 carats again."
Around 18percent of the world's gold is held by central banks. Exchange traded funds and other private investors hold 16 percent, and "other fabrication" accounts for 12 percent.
Consumption of gold in electronic devices is small but growing: 224 tons of gold went into cellphones and other electronic devices last year, up 37percent from 1998.
A problem with gold is that, unlike other commodities, it is not consumed.
"Gold is always available if the price is right," Klapwijk said.
Source: TheTimesSouthAfrica
A gold price of more than $1000 an ounce is not all good news for the industry because it is causing jewellers to become thrifty.
Jewellery gold consumption last year was about 2427 tons, a 23percent decline from 1998.
Philip Klapwijk, chairman of gold market research firm GFMS, expects worldwide gold supply to remain level despite declining output from South Africa.
Klapwijk presented GFMS's latest annual survey in Johannesburg last week.
Last year, GFMS claimed that China had overtaken South Africa as the world's biggest gold producer.
"China is admittedly an opaque market. But we are pretty sure of our data because we look at the few refineries in the region, and these show China is producing more gold now than South Africa," Klapwijk said.
The gold price has soared on the US sub-prime crisis, with high-net investors buying it as a safe haven for their nest eggs.
Klapwijk expects more "skeletons in banks' closets" will keep the gold price high for another two years, but it will inevitably decline back to around $600/oz again.
One reason is the current high prices have made gold jewellery unaffordable and jewellery remains gold's primary market.
According to GFMS's research, more than half of the 161000 tons of gold which has been mined has been turned into jewellery.
"Even in Japan, where purity is a big selling point, jewellers are switching from 24 carat to five carat rings," Klapwijk said.
That represents the gold content of the metal used to fabricate the jewellery dropping from over 99percent to around a fifth.
"At five carats, it isn't even gold anymore. ''Japanese jewellers agree, but they tell me now that people are buying five carats, they are unlikely to ever sell 24 carats again."
Around 18percent of the world's gold is held by central banks. Exchange traded funds and other private investors hold 16 percent, and "other fabrication" accounts for 12 percent.
Consumption of gold in electronic devices is small but growing: 224 tons of gold went into cellphones and other electronic devices last year, up 37percent from 1998.
A problem with gold is that, unlike other commodities, it is not consumed.
"Gold is always available if the price is right," Klapwijk said.
Source: TheTimesSouthAfrica
Friday, April 11, 2008
Time to Invest in Watches?
Stocks too volatile? Bonds too boring? Then try an alternative investment - one you can wear on your wrist.
By Scott Cendrowski
Some are born watch collectors; some become watch collectors; and others have watch collections thrust upon them. Guido Castellini fits all three profiles: He inherited his grandfather's 19th-century pocket watches, could tell a Longines from a Patek Philippe in grade school, and remembers when his grandmother brought him to the antique dealer as a teenager for his first Rolex.
"From that day I invested part of whatever I had in watches,'' says Castellini, who co-founded a small Milan investment house and now lives in Luxembourg and Italy.
"The market has evolved since the early '80s, when watch collecting was a hobby," says Julien Schaerer, watch director at New York auctioneer Antiquorum. "There's definitely more interest." That's partly because unlike most accessories, the best watches hold - or increase - their value.
An alternative to bonds
Castellini started considering watches a serious alternative to bonds in his late 20s, trading a handful of watches a year with the help of a trusted network of dealers in Milan and Geneva, targeting undervalued models.
These days he has more than 30 watches in his collection - from a unique Tiffany & Co. (TIF)-branded Patek to a Rolex Daytona and a limited-edition Jaeger-LeCoultre. He's certainly picked some winners, such as the Patek with perpetual calendar and moon phases he got for around $9,000 at age 18, which now auctions for north of $250,000.
Overall, Castellini estimates that his typical return on a watch over five to ten years is roughly 10%. He'd do better in an index fund, but, as Castellini jokes, "What other investment is so wearable?"
Watch buying for beginners
What Aaron Rich, head of watches at Sotheby's in New York, looks for in a vintage watch:
The papers: Ask for the certificate of origin to guarantee you're buying a genuine piece.
Wear and tear: Scratches are good, sort of. Marks on the side of and underneath a watch's case show that it hasn't been polished or brushed, which reduces value by 20% to 40%.
Stamps: Some manufacturers stamp their seal or mark gold content on a case's underside. You can see these with a loupe.
Monograms: On a modern watch, initials take away a lot of value. But for watches more than 50 years old, when monogramming was popular, Rich says it's almost irrelevant.
Bands: "Never, never turn down a watch because of its band," says Rich. An original helps pull top dollar, but a replacement affects value less than other factors.
Dials: Use a loupe to inspect it. Many dials are made with some silver, which naturally tarnishes from water and polluted air. So an older watch should have dirty spots.
Source: FortuneMagazine
By Scott Cendrowski
Some are born watch collectors; some become watch collectors; and others have watch collections thrust upon them. Guido Castellini fits all three profiles: He inherited his grandfather's 19th-century pocket watches, could tell a Longines from a Patek Philippe in grade school, and remembers when his grandmother brought him to the antique dealer as a teenager for his first Rolex.
"From that day I invested part of whatever I had in watches,'' says Castellini, who co-founded a small Milan investment house and now lives in Luxembourg and Italy.
"The market has evolved since the early '80s, when watch collecting was a hobby," says Julien Schaerer, watch director at New York auctioneer Antiquorum. "There's definitely more interest." That's partly because unlike most accessories, the best watches hold - or increase - their value.
An alternative to bonds
Castellini started considering watches a serious alternative to bonds in his late 20s, trading a handful of watches a year with the help of a trusted network of dealers in Milan and Geneva, targeting undervalued models.
These days he has more than 30 watches in his collection - from a unique Tiffany & Co. (TIF)-branded Patek to a Rolex Daytona and a limited-edition Jaeger-LeCoultre. He's certainly picked some winners, such as the Patek with perpetual calendar and moon phases he got for around $9,000 at age 18, which now auctions for north of $250,000.
Overall, Castellini estimates that his typical return on a watch over five to ten years is roughly 10%. He'd do better in an index fund, but, as Castellini jokes, "What other investment is so wearable?"
Watch buying for beginners
What Aaron Rich, head of watches at Sotheby's in New York, looks for in a vintage watch:
The papers: Ask for the certificate of origin to guarantee you're buying a genuine piece.
Wear and tear: Scratches are good, sort of. Marks on the side of and underneath a watch's case show that it hasn't been polished or brushed, which reduces value by 20% to 40%.
Stamps: Some manufacturers stamp their seal or mark gold content on a case's underside. You can see these with a loupe.
Monograms: On a modern watch, initials take away a lot of value. But for watches more than 50 years old, when monogramming was popular, Rich says it's almost irrelevant.
Bands: "Never, never turn down a watch because of its band," says Rich. An original helps pull top dollar, but a replacement affects value less than other factors.
Dials: Use a loupe to inspect it. Many dials are made with some silver, which naturally tarnishes from water and polluted air. So an older watch should have dirty spots.
Source: FortuneMagazine
Thursday, April 10, 2008
DiamondStore Launches Engagement Ring Collection
The Diamond Store is delighted to announce the launch of the stunning Star Buy diamond engagement ring collection, offering customers the opportunity to save even more money on that all important engagement ring purchase, without compromising on quality.
All diamond solitaire rings currently on sale at The Diamond Store are accompanied by an official AnchorCert certificate. This certificate is an independent assessment of the quality of the diamond in question, and gives confidence and peace of mind to the purchaser regarding the integrity of the jewellery purchased. However, there is always a cost involved in obtaining expert advice and certification, and this is included within the price of the ring.
The Diamond Store is always looking for new ways to offer exceptional value to its customers, and the new Star Buy collection does just that. By replacing the AnchorCert certificate with a Diamond Store Certificate of Authenticity, validated by Diamond Store expert jewellers, savings of approximately 20% are passed on to the consumer. The personalised Certificates of Authenticity provide a full description of the jewellery piece including diamond and metal characteristics, and can be regarded with the same confidence as any other certification. The Diamond Store is a proud member of the British Jewellers Association, the BJA.
Each of the round diamond engagement rings and square diamond engagement ring found within the Star Buy collection can also be found within the standard Diamond Store diamond engagement ring collection, where they have a higher price tag and AnchorCert certificate. They are exactly the same rings - the only difference between them is the accompanying certificate and price difference! An illustration of this can be seen in the following example: the H/Si 0.33CT Diamond 18K White Gold Solitaire Ring is priced at £609.00GBP (RRP: £1,145.00GBP) and is AnchorCert certified. The exact same ring, manufactured by the same team of people (Star Buy H/Si 0.33CT Diamond 18K White Gold Solitaire Ring), can be found within the Star Buy collection priced at £479.00GBP. This offers a significant saving, and gives somebody the opportunity to either pocket the saving or upgrade to a higher quality ring without breaking their budget.
The Diamond Store also provides free insurance valuations on all items of jewellery sold. Each valuation is for the recommended retail price rather than the price paid and is fully personalised to include the customer's name and address as well as a full product description. Valuations are sent out with each order and can also be downloaded directly from the customer login area within the site at a later date.
With free insured delivery, a 30 day money back guarantee and expert advice, The Diamond Store offers a great service as well as fantastic prices. There is also an enormous choice of jewellery, from diamond rings to earrings, pendants, bracelets, necklaces and cufflinks.
All diamond solitaire rings currently on sale at The Diamond Store are accompanied by an official AnchorCert certificate. This certificate is an independent assessment of the quality of the diamond in question, and gives confidence and peace of mind to the purchaser regarding the integrity of the jewellery purchased. However, there is always a cost involved in obtaining expert advice and certification, and this is included within the price of the ring.
The Diamond Store is always looking for new ways to offer exceptional value to its customers, and the new Star Buy collection does just that. By replacing the AnchorCert certificate with a Diamond Store Certificate of Authenticity, validated by Diamond Store expert jewellers, savings of approximately 20% are passed on to the consumer. The personalised Certificates of Authenticity provide a full description of the jewellery piece including diamond and metal characteristics, and can be regarded with the same confidence as any other certification. The Diamond Store is a proud member of the British Jewellers Association, the BJA.
Each of the round diamond engagement rings and square diamond engagement ring found within the Star Buy collection can also be found within the standard Diamond Store diamond engagement ring collection, where they have a higher price tag and AnchorCert certificate. They are exactly the same rings - the only difference between them is the accompanying certificate and price difference! An illustration of this can be seen in the following example: the H/Si 0.33CT Diamond 18K White Gold Solitaire Ring is priced at £609.00GBP (RRP: £1,145.00GBP) and is AnchorCert certified. The exact same ring, manufactured by the same team of people (Star Buy H/Si 0.33CT Diamond 18K White Gold Solitaire Ring), can be found within the Star Buy collection priced at £479.00GBP. This offers a significant saving, and gives somebody the opportunity to either pocket the saving or upgrade to a higher quality ring without breaking their budget.
The Diamond Store also provides free insurance valuations on all items of jewellery sold. Each valuation is for the recommended retail price rather than the price paid and is fully personalised to include the customer's name and address as well as a full product description. Valuations are sent out with each order and can also be downloaded directly from the customer login area within the site at a later date.
With free insured delivery, a 30 day money back guarantee and expert advice, The Diamond Store offers a great service as well as fantastic prices. There is also an enormous choice of jewellery, from diamond rings to earrings, pendants, bracelets, necklaces and cufflinks.
Tuesday, April 8, 2008
Tatiana Goes Exports Luxury Brazilian Jewellery
The items, designed and manufactured one by one by Tatiana Góes, in the city of Porto Alegre (capital of the southernmost Brazilian state of Rio Grande do Sul), are exported to the United States, France, Argentina and Spain. Now, the designer wants to attract the eyes of Arab women to her creations.
Press Release
São Paulo - Designer Tatiana Góes, who works out of the southernmost Brazilian state of Rio Grande do Sul and makes exclusive gold items, including orders, wants to present her creations to the Arab women. The jewellery, designed and manufactured one by one by Tatiana, are already exported to the United States, France, Argentina and Spain. "I am very much interested in negotiating with the Arab market. I am certain that my pieces are going to be immensely successful there," says the designer. "I am seeking a contact opportunity to showcase my creations," she claims.
Foreign sales started after she began exhibiting at international fairs. The designer participated in two editions of the Bijorchca, in Paris, in 2006 and 2007, and intends to go back this year. "Who knows, maybe this time I might be visited by some Arab importer," says Tatiana.
A feature of the designers' pieces that attracts attention is her combination of stones, pearls, silver and gold – which are turned into earrings, rings, necklaces and pendants. The Brazilian stones most frequently used by the designer include crystal, amethyst, citrine, and pink, grey and bright quartz.
The designer has just launched the Alfama collection, comprised of earrings and necklaces in plate and crystal, with red and grey silk yarn. The shapes are inspired by plants and flowers. "I design my pieces based on those images of nature," says Tatiana.
Tatiana Góes was born in Porto Alegre, capital of Rio Grande do Sul, holds a degree in Business Administration and Marketing from PUC/RS, and Design in Jewelleries and Gold, earned in Milan, Italy.
Her hobby was artistic creation in painting, drawing and handicraft, and then she discovered the path to jewellery design. She took a course in metalworking. Afterwards, there came jewellery design and wax modelling. The passion for the mystery and the shine of gems also took her to a course in Gemology.
Press Release
São Paulo - Designer Tatiana Góes, who works out of the southernmost Brazilian state of Rio Grande do Sul and makes exclusive gold items, including orders, wants to present her creations to the Arab women. The jewellery, designed and manufactured one by one by Tatiana, are already exported to the United States, France, Argentina and Spain. "I am very much interested in negotiating with the Arab market. I am certain that my pieces are going to be immensely successful there," says the designer. "I am seeking a contact opportunity to showcase my creations," she claims.
Foreign sales started after she began exhibiting at international fairs. The designer participated in two editions of the Bijorchca, in Paris, in 2006 and 2007, and intends to go back this year. "Who knows, maybe this time I might be visited by some Arab importer," says Tatiana.
A feature of the designers' pieces that attracts attention is her combination of stones, pearls, silver and gold – which are turned into earrings, rings, necklaces and pendants. The Brazilian stones most frequently used by the designer include crystal, amethyst, citrine, and pink, grey and bright quartz.
The designer has just launched the Alfama collection, comprised of earrings and necklaces in plate and crystal, with red and grey silk yarn. The shapes are inspired by plants and flowers. "I design my pieces based on those images of nature," says Tatiana.
Tatiana Góes was born in Porto Alegre, capital of Rio Grande do Sul, holds a degree in Business Administration and Marketing from PUC/RS, and Design in Jewelleries and Gold, earned in Milan, Italy.
Her hobby was artistic creation in painting, drawing and handicraft, and then she discovered the path to jewellery design. She took a course in metalworking. Afterwards, there came jewellery design and wax modelling. The passion for the mystery and the shine of gems also took her to a course in Gemology.
Monday, April 7, 2008
The new Rolex Sea-Dweller DEEPSEA
So let's say you're a diver who just hates having watches break under pressure because you like diving deep, I mean REAL deep. What kind of watch would you buy? The new Rolex Sea-Dweller DEEPSEA model of course. This baby is waterproof at 12800 feet and can withstand an incredible 2.98 metric tons of pressure.
The watch face is made of synthetic sapphire crystal. The rest of the watch is fashioned from titanium alloy and 904L steel. Of course the adjustable bracelet (a signature of Rolex watches) can fit over a dive suit.
Divers need to carefully track their times under water and this Rolex watch has a unidirectional dial. Why unidirectional you ask? Well you always want to err on the side of caution and accidentally bumping the dial will rotate it to give you less time under water – going the other way would be a very bad thing.
The ocean is a dark place and the watch glows blue thanks to some top secret luminescent material. There's also a helium gas valve to keep the watch from blowing up upon fast ascents.
Oh and we're just joking about the Marianas Trench. While Rolex claims the watch can go down to 12,800 feet, the Marinas Trench has been measured to be almost 36,000 feet deep. Of course this is all academic since the deepest human dive has been just over 1000 feet deep.
This watch is so badass that Rolex has made a massive 30+ megabyte downloadable Flash file to show off all the features. You can visit Rolex''s product page here.
Source: TGDaily
The watch face is made of synthetic sapphire crystal. The rest of the watch is fashioned from titanium alloy and 904L steel. Of course the adjustable bracelet (a signature of Rolex watches) can fit over a dive suit.
Divers need to carefully track their times under water and this Rolex watch has a unidirectional dial. Why unidirectional you ask? Well you always want to err on the side of caution and accidentally bumping the dial will rotate it to give you less time under water – going the other way would be a very bad thing.
The ocean is a dark place and the watch glows blue thanks to some top secret luminescent material. There's also a helium gas valve to keep the watch from blowing up upon fast ascents.
Oh and we're just joking about the Marianas Trench. While Rolex claims the watch can go down to 12,800 feet, the Marinas Trench has been measured to be almost 36,000 feet deep. Of course this is all academic since the deepest human dive has been just over 1000 feet deep.
This watch is so badass that Rolex has made a massive 30+ megabyte downloadable Flash file to show off all the features. You can visit Rolex''s product page here.
Source: TGDaily
Sunday, April 6, 2008
Diamond jewellery’s cutting edge has a Chinese connection
Pune, as any jewellery buyer will tell you, is a favoured market for diamond jewelry, thanks to the quality of diamonds and the exquisite workmanship of the pieces. Few however know that the hands behind the intricately and neatly set diamond jewelry in most cases these days are not Indian but Chinese!
More and more city jewellers are getting their diamond pieces made in China, thus adding yet another dimension to the country's status of a viable outsourcing station. "The reason is cheaper labour prices and better cost benefits. This especially benefits jewelers dealing in mass production. Also China caters to different markets like the European, Asian and others that makes outsourcing all the more beneficial," said Vijay Kumar Jain, the owner of Yash Jewellers on MG Road.
According to another jeweller who gets almost all his diamond pieces done from China, the finished product is also much better in quality and setting. "You will never get the same work quality here," he asserted.
While China makes a hub for manual labour, it is in Hong Kong that most of the cultural exchange happens, where jewellers from across the world meet. All this has led to globalisation of the market and exposure to more services-like that of the diamond setting option in China.
Fateh Chand Ranka, president of Maharashtra Rajya Saraf Mahamandal said the reasons for the diamond industry shifting its labour to China also lie in the unattractive tax policy of the Indian government for its businessmen. "Diamond trading is being hugely promoted in China. The local taxes over there are certainly not as high as ours. Here out of the one rupee business that we do, fifty per cent goes in taxes, while in China not only is the tax on jewelry export very less, but for the past two years the government has also declared a 'tax holiday' for those in the business," said Ranka.
According to jewellery designer Sheetal Jatin Wagle, the tax rates in India are killing. "For the ones who trade in bulk China is an ideal option and the government there is playing an active role in facilitating the market-hence the shift," said Wagle.
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