Diamond Slang

Diamond Argot

Defining the Industry

In the adornment industry we bandy about a lot of argot agreement like, “Chubbies, four grainers, off-makes and afterglow worms” to name a few. Some of this argot analogue is acquired from decades of acceptance and added agreement are technically actual definitions to call a design like the “65/65 Rule.” What I approved to do in this commodity is accord definitions of the best accepted argot agreement that jewelers, dealers and cutters accept been application for years. Hopefully, it will accomplish it a little easier for the chump to accept the abstruse accent we jewelers use on a day to day basis.

65/65 Rule

A ellipsoidal design whose table and absolute abyss allotment does not beat 65% of the chunk width.

As Is

A design that comes with no bonding or warranties. Its bargain is final, no exceptions afterwards the applicant takes control from the vendor.

Back Alley A design that has had at atomic one antecedent buyer and is actuality purchased on the accessory market. Example: Joe has purchased a Aback Alley diamond. Translation: Joe has bought a acclimated diamond.

Bananas

A marquise shaped design whose breadth to amplitude adjustment exceeds 2.25 to 1. The design appears to accept been continued to attending like a banana.

Big Brother Design Trading Company a.k.a. DeBeers.

Bling Bling A sparkly admired design or design jewelry.

Blue Booked The dollar amount placed on a design at time of acquirement that the agent agrees to acquirement the design aback at some time in the future.

Bonded Alike with warranty. All chunk are either absolutely bonded, partially affirmed or not bonded. A fresh subcategory that has been affected of backward is the absolutely affirmed design with an cessation date i.e. a bound lifetime warranty. The design is acceptable not for the activity of the design or actuality but for the activity of the assurance itself. Best of these artificial assurance bales (breakage guarantee, buyback, exchange) run 90 days. A accurate absolutely affirmed design has no cessation date or restocking fee.

Canaries A bare design is chicken in blush due to the actuality it is saturated with nitrogen. The four capital categories of canaries are ablaze fancy, fancy, acute adorned and vivid.

Chubbies Chunk that are ailing proportioned. Typically, chunk that accept over-sized girdles or abysmal pavilions that account the chunk to arise abate than they should back beheld from the top for any accustomed weight.

Cognac A amber design dramatized as adorable and admired with an ambrosial title.

Decorate the

Tree How the facets are abiding on a diamond.

Doublet A design or gemstone that is fabricated of two pieces. Example: The acme is design but it is epoxied to a pavilion fabricated out of cubic zirconia.

Duping The con of affairs a design with a Lab Grading Report or GIA appraisement that does not bout the design actuality awash but rather matches a design that was apparent apart to accomplish the antecedent bargain and after switched for the understudy.

Estate A design or allotment of adornment that has been ahead endemic and is up for sale.

Fancies Has two meanings. 1.) Any appearance added than a annular design or 2.) Any design of any accurate blush of the bubble but white. These would include: blues, pinks, violets, and yellows to name a few. The best acclaimed adorned in the apple is “The Hope Diamond,” which is animate blue.

Fisheye The annular centrally aphotic ablaze adjustment that appears in the table of a annular design back it is cut shallow. It derives its appellation due to the actuality that the ablaze arising through the pavilion creates the attending from the acme of that of a fish’s eye.

Footballs The adverse of a assistant appearance marquise which is too long. Rather a football is a marquise that carefully resembles the appearance of a football. A marquise could be declared as a football if its breadth to amplitude adjustment is beneath than 1.75 to 1.

Fully Acceptable Can be alike with absolutely bonded. A design that has a breakage, buyback, bargain and bazaar blast guarantee. Back it comes with no cessation dates, it is advised absolutely bonded, contrarily it is a bound lifetime assurance

Glow Worms A design that exhibits fluorescence in the attendance of ultra violet light. Fluorescent chunk are 20% beneath admired than non-fluorescent diamonds.

Grade Bumping A design whose accuracy or blush brand has been aloft by one or added grades by a lab, adjudicator or salesman to enhance the amount of the diamond.

Grainers In the orient, chunk were advised application grains of rice. (4 grains = 1/5 of a gram which = a 1ct design on a adverse balance) Example: a 6 grainer = 1 1/2ct design

Grandfather An old design (Old Miners, Old European) or a design whose paperwork is outdated. A Lab Grading Report is advised a grandfathering back it is over six months old and an appraisement is advised a grandfathering at two years old.

Hot Rocks Chunk whose country of agent (South Africa, Sierra Leon, etc.) is affiliated to fueling wars and abuse with the funds acquired from the bargain or bargain of diamonds.

Illusion Setting The adjustment of a design into a mirrored aerial able bowl of metal to accord the apparition that the design is beyond than it appears from a distance.

Laser Accomplished A design whose carbon has been accomplished out with a laser.

Melee Baby diamonds, usually acclimated to call chunk beneath 1/4ct in size.

Off-makes Generally speaking, a ailing ample design that is either cut too shallow, too abysmal or warped. All Class 3 and Class 4 cut chunk are advised off-makes.

Old European A annular design bargain cut in the aboriginal 1900’s for the accessible from European acid houses. These chunk had the aforementioned characteristics as an Old Miners (small table, aerial crown, accessible culet) with the barring that they were not boxlike annular but annular in diameter.

Old Miners

A boxlike annular design about 75 years or earlier whose angle adjustment is accent by a baby table, aerial acme and accessible culet. Old Miners are additionally referred to as abundant makes.

Orphan A design that is actuality awash at an bargain and has no accepted buyer that is cutting it. Orphan can additionally be acclimated to call a design that does accept an buyer but the buyer no best wears it. Example: Mary owns a admirable 2ct orphaned diamond. She should accomplishment it from her assurance drop box.

Padded See spreads and chubbies. The cutter kept added weight on the bean that does not optimize the eyes of the diamond. Only ambition is to access revenue.

P.B.’s Not peanut butter, but “Partially Bonded.” A design with some warranties.

Pegasus, Monarch or Bellataire Brand names for annealed (heated, baked) chunk alien into the bazaar by General Electric and Lazare Kaplan in 1998.

Pick Pocketing A salesman has been said to be “pick pocketing” a chump back he uses the two ages bacon guideline in adjustment to get as abundant money from a applicant in adjustment to accomplish a beyond sale.

Plot The mapping of inclusions and blemishes on a cardboard diagram of the angle adjustment of any accustomed design for identification purposes. Similar to a fingerprint.

River Bedrock A design that is so heavily included (I2 and I3’s) that they deserve to be befuddled in the river. River bedrock is alike with a bad design of little or no value.

Rovals A ailing ample egg-shaped design that has a breadth to amplitude adjustment beneath 1.2 to 1 causing the design to attending not absolutely annular and not absolutely oval. Hence “Roval.”

Sandbagger An adjudicator who misgrades an appraisement to demolition a bargain in adjustment to acclaim that the applicant acquirement about else.

Single Cuts Annular chunk that accept beneath than 16 facets.

Spreads A design that is advisedly cut advanced to accord the consequence that the design is beyond than its agnate weight back beheld from the top. All spreads are additionally bank with beneath than 38% ablaze return.

Warped A design whose acme acme allotment + best girdle array allotment + pavilion abyss allotment doesn’t according the absolute abyss allotment aural .5%.

U.S. Trade Deficit Rose 15% in January on Higher Oil Prices

A billow in oil prices helped advance imports up at the fastest clip in 18 years in January, giving the country the better barter arrears in six months.

The New York Times

The New York Times

The Business Department said Thursday that the January arrears added 15.1 percent to $46.3 billion. Exports rose 2.7 percent to a aerial of $167.7 billion. But imports rose at a 5.2 percent pace, to $214.1 billion. That reflected a big jump in America’s oil bill, accent apropos that surging oil prices could apathetic the recovery.

A addition barter arrears hurts the United States economy. Back imports outdistance exports, added jobs go to adopted workers than to American workers.

The politically acute arrears with China rose 12.5 percent to $23.5 billion in January, the better with any country. Last year, the arrears with China rose to a almanac $273.1 billion, accretion political burden in this country to booty a tougher band on what critics see as China’s arbitrary trading practices, like manipulating its bill to accretion barter advantages.

China, which about runs huge barter surpluses with the blow of the world, appear a abruptness arrears of $7.3 billion for February as surging prices for oil and added bolt pushed imports up 19.4 percent while its exports alone 2.4 percent.

The consign abatement reflected the actuality that Chinese businesses were idled for the weeklong Lunar New Year holiday. Analysts said the attenuate barter arrears for China was acceptable to be temporary.

The all-embracing American arrears in January would construe into an anniversary arrears of $556.1 billion. Last year’s alterity was $495.7 billion, which was 32.8 percent college than in 2009 back a abysmal recession in this country had diminished America’s appetence for adopted goods.

Economists apprehend that this year’s arrears will be about banausic from 2010 as ascent imports, absorption a growing American economy, are akin by connected able consign sales. However, they attention that this anticipation could about-face out to be too optimistic if oil prices, which accept surged on political agitation in Libya and added countries in the region, accumulate climbing.

For January, America’s oil bill jumped 9.5 percent to $34.9 billion, the accomplished akin back October 2008, absorption a $4.56 per butt access in the boilerplate amount of alien awkward oil, which rose to $84.34. In contempo weeks, oil has been trading aloft $100 per butt so oil imports will acceptable be alike college in the February and March barter reports.

President Obama has set a ambition of acceleration United States exports by 2015. The administering is demography a tougher attitude in barter disputes with China, including applying added burden to get China to acquiesce its bill to acceleration in amount adjoin the dollar.

On Wednesday, Mr. Obama approved to highlight the accent of the American-China accord by nominating the business secretary, Gary F. Locke, to be agent to China. Mr. Locke would be the aboriginal Chinese-American to serve in that post.

The acceleration in American exports pushed them to a almanac high, afore the old mark of $165.7 billion set in July 2008 afore a banking crisis in the United States pushed the all-around abridgement into a abysmal recession. The consign backbone in January reflected able sales of United States autos, automated machinery, medical accessories and acreage articles including wheat.

America’s arrears with Canada belted bottomward 4.9 percent to $3.7 billion while the alterity with the European Union alone 15.3 percent to $5.6 billion. The arrears with Japan fell 15.6 percent to $5 billion.

Fears About Mideast Oil Pay Off for Russia

MOSCOW -- Whatever the closing aftereffect of the Arab world's amusing upheaval, there is a bright bread-and-butter champ so far: Vladimir V. Putin.

Russia, which pumps added oil than Saudi Arabia, is accomplishment a asset from the abrupt acceleration in all-around activity prices consistent from alternation in oil regions of the Middle East and North Africa. Riding the aerial oil prices, the Russian ruble has risen faster adjoin the dollar this year than any added currency, which is accessible because it will barrier customer aggrandizement during an acclamation year.

Russian stocks are buoyant, too: the Micex basis bankrupt aftermost anniversary at 1,781, up about 6 percent aback the alpha of the year. (Monday was a anniversary in Russia.)

But the Russians could not footfall in to annual any abeyant big bead in all-around production, because Russia does not accept any oil wells continuing abandoned that would acquiesce it to access production. Right now Russia is pumping oil at its top capacity.

But at aftermost week's closing of $114, the amount of anniversary of those barrels of Ural crude, the country's capital consign blend, has risen 24 percent aback the alpha of the year.

Last week, the prime minister, Mr. Putin, sat bottomward for a affair with Russia's accounts minister, Aleksei L. Kudrin, which was nationally televised on accompaniment annual channels for the public's broad-mindedness as the two discussed, aloof abbreviate of gloating, the allowances to Russia of a all-around oil panic.

''Mr. Kudrin, annual revenues accept become considerable,'' Mr. Putin said matter-of-factly.

Mr. Kudrin agreed, acquainted that if prices authority Russia will be able to resume contributions to its absolute abundance funds for the aboriginal time aback the summertime of 2008, aback the all-around recession began.

One of those absolute advance vehicles, the Reserve Fund, could ability $50 billion by the end of the year, Mr. Kudrin reported. Aloof a few months ago Russian admiral planning the 2011 annual had advancing the armamentarium would be depleted. ''Good,'' Mr. Putin responded to Mr. Kudrin's account, comatose with satisfaction.

Russia, of course, does not accept to attending aback further than 2008 to see that a fasten in the amount of oil can be aloof that -- followed by a boundless drop.

But for now, Russian activity is in favor.

Russia's perceived adherence was a acumen the French activity behemothic Total cited aftermost anniversary in accordant to shop for about 12 percent of an absolute accustomed gas ambassador in Russia, Novatek, and accompany a abounding accustomed gas activity in the Russian Arctic.

''The upheavals demography abode in a cardinal of the oil- and gas-producing countries now accelerate a arresting to investors to appear to Russia,'' Total's arch executive, Christophe de Margerie, said in a affair with President Dmitri A. Medvedev announcement the deal.

Mr. Margerie said his aggregation was committing about $4 billion to the venture. ''Russia offers a abundant safer ambiance for investment,'' he said.

Oil experts say that because all-around assembly accommodation for oil is still far beyond than apple demand, the countdown in prices is actuality fueled by abhorrence added than by reality. The affair is that the abandon in Libya could advance to added affiliate states of the Organization for the Petroleum Exporting Countries, which are primarily Arab nations.

Russia is not alone alfresco OPEC, and appropriately chargeless from the cartel's assembly restraints, but also, with its appalling abstruse badge accoutrement and a citizenry appendage amid the aged rather than the young, is apparent as beneath accessible to an beginning of amusing unrest.

Russia has continued jockeyed adjoin Saudi Arabia, a affiliate of OPEC, to be the world's top oil-producing nation. Although the Saudis accept added assembly accommodation and awfully added reserves, Russia is pumping added oil. And if oil and accustomed gas are advised together, Russia is the better energy-exporting nation.

Which country is in aboriginal abode for oil at any accustomed moment depends on how the Saudis apply their beat assembly capacity, the beanbag of bare wells and pipelines the Saudis can about-face on to charge bottomward all-around prices. As the better OPEC member, Saudi Arabia is the cartel's apache and enabler, with the ability to access all-around prices or to abstinent all-around disruptions by how abundant of its assembly accommodation it chooses to put to work.

If the Saudis accessible the valves during periods of instability, Russia avalanche into additional abode as a ambassador -- but still makes a advantageous accumulation off college prices.

The Great Diamond Crash

The Great Diamond Crash

If I had to take a guess, I would estimate that there are over one billion carats of diamonds in the hands of consumers. That is over 100 times the annual consumption gobbled up for weddings, anniversaries, birthdays and even Super Bowl rings. The diamond markets for consumers exist in two categories; commercial grade (bluff stones) and non-commercial (the good stuff). A good diamond is defined as a “diamond that will hold its value and/or appreciate in value over time.” The current “cut rate” (distribution of commercial to non-commercial diamonds) is 49 to 1. For every good diamond that is sold in the US there are 49 crummy (commercial) ones. The average resale value of a commercial grade diamond is 19.7% of the original dollars paid; the average resale value of a non-commercial grade diamond is 85%– worst case, 60%; best case, 100% or better. Diamonds have never been considered an investment instrument after one billion dollars was lost by consumers buying diamonds as a hedge against inflation in 1980.

But, it appears some lessons aren’t easily learned. For anyone who has been paying attention, you would have noticed that large, investment grade (IF, VVS1, VVS2 & D, E, F) diamonds have been sky rocketing in prices! Currently a 5ct D,IF is selling for over 3/4 of a million dollars. That’s about double what it was just a few years ago. However, we don’t have to look hard to see other commodities mimicking the same exponential, unrealistic growth. Oil, gold, platinum, rice, wheat, etc… everything is up! Way up! The question is this: is this the new reality or have we fallen down the rabbit hole? The prices people are paying for some diamonds is reflecting a market mania. The current diamond climate is creating a craze very similar to the tulip mania in the early 1600s in Amsterdam. Believe it or not, back then, at the height of the mania, a tulip went for $76,000 a bulb! Six weeks after smart money got out, the price had fallen to a dollar!

Within 12 months there are going to be a lot of sad people sitting on a lot of big investment grade diamonds that will be worth a fraction of what they paid. My advice is this: for the next year, stay away from 2ct+ investment grade diamonds unless you are willing to be a statistic in the great diamond crash of 2009. If you are going to buy a 2ct non-commercial rock that isn’t investment grade, you will still have to pay at least 20% more than what its cash liquidity is worth! That said, if the world ever wakes up and realizes that nobody really needs a diamond and everyone goes to the market to sell at the same time, tulips and diamonds will have more in common than being pretty; they’ll both be a cautionary tale.

Diamond Terms

Speaking the jeweler’s language:

BLEMISH: A blemish on the exoteric of a diamond, such as a scratch, abrasion, nick or chip.

BLUE-WHITE: Refers to a design that glows (flouresces) dejected beneath ultraviolet light.

BRILLIANCE: White ablaze reflected aback from a diamond.

BRILLIANT: A annular design with 58 facets.

CARAT: A assemblage of weight, according to 200 milligrams. In age-old times one carat was according to one carob bean or four grains of rice.

CARBON: The raw actual of which chunk are made. Occasionally a design will accommodate tiny pockets of carbon which can be apparent as atramentous spots aural the stone.

CLOUD: A array of baby inclusions, or centralized flaws, aural a diamond.

CROWN: The top of a diamond. Aggregate aloft the girdle.

CULET: The basal angle of a diamond, usually actual small.

DISPERSION: Black ablaze reflected from aural a diamond; additionally alleged fire.

EYE-CLEAN: Refers to a design that has no inclusions or blemishes arresting to the naked eye.

FACET: A able apparent on a diamond. A round, full-cut design usually has 58 facets.

FLUORESCENCE: A diamond’s acknowledgment to ultraviolet (UV) light, causing the bean to afterglow in assorted colors.

FULL-CUT: A design with 58 or added facets.

GEMOLOGIST: A actuality who has been accomplished and accepted in chunk and black stones.

GIA: Gemological Institute of America, an independent, non-profit alignment which sets and upholds standards for allocation chunk and added adored stones.

GIRDLE: The narrow, unpolished bandage about the widest allotment of the diamond; the girdle separates the acme and the pavilion of the stone.

HEAD: The prongs which authority a design in its setting.

INCLUSION: A blemish aural a diamond, such as carbon spots or fractures.

KARAT: The admeasurement of the abstention of gold; 24-karat actuality authentic gold. Jewelry is fabricated from 18K and 14K gold, which accommodate added metals for strength.

LASER-DRILLED: A design that has been advised with a laser to abolish carbon spots.

LOUPE: A baby accumulative bottle acclimated to appearance gemstones

OFF-MAKE: A ailing ample diamond.

PAVÉ: A adjustment of ambience chunk actual carefully together, giving the apparition of one or added beyond diamonds.

PAVILION: The basal of a diamond; aggregate beneath the diamond’s girdle.

POINT: One-hundredth of a carat. A design belief one-and-a-half carats weighs 150 points.

SEMI-MOUNT: A ambience which is complete except for the capital stone, which will be called separately.

SINGLE-CUT: A design with alone 16 or 17 facets.

SPARKLE: The activity of the ablaze absorption from a diamond; the sum of the accuracy and the blaze (dispersion).

TIFFANY: A simple, affected 2-3mm arena ambience with a arch that holds a distinct diamond.

by Fred Cuellar, columnist of the acknowledged book “How to Buy a Diamond.” Added questions?

Platinum Doping

The platinum apple is actuality angry upside bottomward and I anticipation addition should let you know. But, afore we get into that, I charge to accomplish you a platinum aficionado. So, I went to Google and typed in “what is the analogue of platinum?”

This is what I got:

* “One of the rarest adored metals, platinum is additionally one of the arch and heaviest, authoritative it a accepted best for ambience gemstone adornment and watches. It has a rich, white luster, and an chaste look. Platinum is hypoallergenic and befoul resistant. Platinum acclimated in adornment and watches is at diminutive 85 to 95 percent pure. Many platinum watches are produced in bound editions due to the amount and aberration of the metal.”

* “Rare, ablaze white brownish aspect of abundant strength, weight and attrition to corrosion. Difficult to alloy, casting and assignment attributable to its actual aerial melting point. The accepted of platinum in the US and best western countries is 95% authentic and is apparent PLAT. From platina, little silver, the chat the Spanish gave it back aboriginal apparent in South America in the 18th century.”

* “Platinum is a able metal that is white in color. It is added than gold, and holds stones well. Platinum is one of three adored metals including argent and gold.”

* “A adored metal acclimated in the finest accessories of jewelry, notable for its strength, malleability, and silver-white appearance.”

* “Platinum is a white metal, but clashing gold it is acclimated in adornment in about its authentic anatomy from 85%, 90% or 95% pure. Platinum is actual adamantine and is acutely continued acid and is actual white, so it does not charge to be Rhodium-plated like white gold. Platinum is actual close authoritative it abundant added than 18k gold. Because platinum is adamantine it is best ill-fitted for ambience the large, admired stones. The platinum prongs for ambience stones would be stronger than the ambience fabricated with softer gold.”

* “A metal aspect whose aberration and abnormal compactness backbone accomplish it acutely valuable, with a amount beyond alike that of gold. It is a heavier, silver-white aspect that is adaptable and adaptable and does not corrode. Nor does it tarnish. It needs abundant calefaction to fuse, and this backbone — accompanying with its adapted blush — makes it ideal as a design setting. Back active for jewelry, it is acclimated in the anatomy of a platinum alloy.”

* “A close (heavy) silvery, blah metal, diminutive cardinal 78, diminutive weight 195.078 , acclimated by pre-Columbian South American Indians, and rediscovered in the 18th century. Its aboriginal use for bill was by Russia in 1828, afterward the analysis of ample platinum deposits in the Ural Mountains in 1822.”

* “A awful admired adored metal. Platinum is 95% pure, absorption a ablaze white afterglow that does not achromatize or tarnish. It has a college body than best metals and is added abiding and beneath acceptable to appearance wear.”

Platinum was never beneath that 85% authentic beneath any definition. Well, now platinum is actuality DOPED! Ample metal manufacturers are demography authentic platinum and acid it with chestnut and cobalt! The artefact is actuality awash as 585 platinum. The 585 stands for 58 ½ % authentic platinum and 41 ½ % chestnut and cobalt. The C & C (copper and cobalt) is acclimated as a filler! By diluting the platinum with cheaper alloys the architect can about bifold his profits! This comes at the amount of you, the consumer, if you anticipate you are accepting the absolute McCoy. The ample manufacturers that are bearing this artefact acquaint me that they are not breaking any Federal Trade Commission guidelines as continued as they acquaint the customer (you) that you are affairs watered bottomward platinum with the 585 brand central the ring. The botheration comes in back the benumbed platinum gets awash over and over bottomward the accumulation alternation and beneath conscientious vendors adjudge to abolish the 585 and leave aloof the blueprint stamp. (This can be done in beneath than 60 abnormal on a cutting wheel). Then you adjudge to go on-line and shop for what appears to be a abundant accord on a platinum bandage alone to possibly acquisition out after (when it cracks, craters, discolors, or your feel break out in a rash) that you accept been bamboozled by doping!

How can you assure yourself

* Alone shop for a platinum arena from a able-bodied apperceive architect (Novell, Benchmark etc) or from a bell-ringer that will put in autograph and agreement the platinum agreeable of your arena (90 to 95% authentic is a acceptable barometer stick with 5-10% iridium).

* A accepted 6mm (1/4 inch) abundance fit platinum bandage weighs 12-13grams. A benumbed platinum arena will appear in belief over 33% beneath at 8.6 grams (approximately).

* The blush can additionally be a asleep accord away; all the pieces I advised couldn’t be able up to authority a accurate white-luster but added of a grey-luster. What makes beheld identification so difficult is 585 can be biconcave in rhodium (a platinum accumulation metal) to actor the attending of absolute platinum.

* Melting point. Since the melting point of accurate platinum is so abundant college than that of benumbed platinum, the minute a bake touches the actor its carapace will burn (black blur crust). Of advance this analysis requires a jeweler and a torch; not necessarily things you accept laying about your garage.

Conclusion:

The catechism is, area is all this going–platinum isn’t absolutely platinum; chunk are baked, laser accomplished and fractured- filled. Everything comes with a disclaimer; every one, it seems, is aggravating to cull a fast one. We alive in a apple that your character could be baseborn aloof by activity on your computer. Now you accept to anguish about the accurate character of your platinum ring. The bodies who don’t ask a lot of questions about what they are affairs apparently are not accepting what they are expecting.

What Can We Do About It?

Currently, this affair is afore the Federal Trade Commission (F.T.C.). You can accomplish a aberration by accumulation voices. Follow the accomplish beneath and let your articulation be heard!