SA Jewellery News (SAJN) • October 2018 by Isikhova Media

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Jewellery News OCTOBER 2018

Synthetic diamonds: Facing the challenge

SA Mint to host international Mint Directors Conference

ISIKHOVA/SAJN/MAY2018

Finest Gemstones & Beads Cape Town: 021 422 4677 or 021 424 0063 or 076 162 3741 Email: info@ajanta.co.za or gems@ajanta.co.za www.ajantaafrika.com

Editor: Adri Viviers Tel: +27 (0)11 883-4627 Cell: 084-261-1805 E-mail: adri@isikhova.co.za Watch Editor: Alice Weil Tel: +27 (0)11 880-1680 Cell: 083-266-9182 E-mail: aweil@mweb.co.za Advertising Sales: Ian Starnes Cell: 082-052-8428 E-mail: ian@isikhova.co.za

c ntents 9. NEWS

Advertising Sales: Trivern Goodoon Tel: 072-837-4962 E-mail: trivern@isikhova.co.za

• Baselworld looks to reduce prices • South African Mint to host international Mint Directors' Conference in 2020

Advertising Sales Representative (India): Bhupal Potdar Cell: 91-982-115-1035 Email: bhupalpotdar@gmail.com

• Ethics Commission Special Report to focus on impact and implications of revised FTC Guides

Advertising Sales Representative (Hong Kong): Maud Errera E-mail: maud@lni.com.hk Copy Editor: Anne Phillips

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SA Jewellery News is published by: Isikhova Publishing & Communications CC, PO Box 651793, Benmore, 2010, Johannesburg, South Africa. 27 Panners Lane, Riverclub, Sandton, South Africa.

Dinosaurs rule on South African Mint’s 2018 Natura Palaeontology Collection

• Second Bharat Diamond Week to take place this month

Designer: Mirah Bradt Subscriptions & Accounts: Thuli Majola Tel: +27 (0)11 883-4627 Fax: +27 (0)11 783-2677 E-mail: thuli@isikhova.co.za

18. COINS

• Zimbabwe miner Murowa joins DPA

14. DIAMONDS Synthetic diamonds (part 2): Facing the challenge

Website: www.isikhova.co.za Chief Executive Officer: Andrew Meyer E-mail: andrewm@isikhova.co.za Chief Financial Officer: Imraan Mahomed E-mail: imraanm@isikhova.co.za

23. WATCHES

Printing: Typo

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The tradition of innovation

17. JEWELLERY Ethical and Fairtrade jewellery launches in South Africa

27. BRAND MANAGEMENT • Orlik Diamonds expands offerings • Tissot launches T-Race MotoGP limited edition 2018

28. LITTLE GEMS

Official Journal of the Diamond and Jewellery Federation of South Africa. Website: www.jewellery.org.za The views expressed in this publication are not necessarily those of the owners and the Diamond and Jewellery Federation of South Africa, its members, the publisher or its agents. While every effort has been made to ensure the accuracy of its contents, neither the owners and the Diamond and Jewellery Federation of South Africa, the editor nor the publisher can be held responsible for any omissions or errors; or for any misfortune, injury or damages which may arise therefrom. The same applies to all advertising. SA Jewellery News© 2018. All rights reserved. No part of this magazine may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage retrieval system, without prior written permission from the publishers. ISSN 1817-5333.

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Celebrating 90 years of being the industry’s only trade journal

Jewellery News OCTOBER 2018

Synthetic diamonds: Facing the challenge

SA Mint to host international Mint Directors Conference Baselworld looks to reduce prices

On the cover JPPE Lapidary (Pty) Ltd has been manufacturing to the jewellery industry for over 50 years. “Our passion for gemstones and jewellery inspires us to create stunning jewellery in all the colours of the rainbow. We are proud of our South African heritage and strive to manufacture a range of locally made jewellery on par with international standards. All our jewellery is backed with a 100% service guarantee.” Contact Kyle Gilson on tel: (021) 424-7764 or e-mail: info@jppe.co.za. Visit the JPPE Lapidary website at: www.jppe.co.za.

SA JEWELLERY NEWS – OCTOBER 2018

NEWS

ETHICS COMMISSION SPECIAL REPORT TO FOCUS ON REVISED FTC GUIDES

SOTHEBY’S TO SELL RARE 5CT BLUE DIAMOND

With the opening of the 2018 CIBJO Congress in Bogotá, Colombia, on 15 October 2018, the fifth of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Ethics Commission, headed by Tiffany C Stevens, the report focuses exclusively on the newly revised guides for the jewellery, precious metals and pewter industries, released in July by the US Federal Trade Commission. The report is co-authored by Stevens and Sara E Yood. Addressing comments that the FTC Guides seem to disregard harmonisation efforts made by the international trade, Stevens and Yood note that the primary focus of the American agency is somewhat different. “The FTC tries to harmonise its guidance with international standards when possible, but it must base its guidance on Section 5 of the FTC Act. In contrast, many international standards are developed through industry

A ring with a 5ct, fancy-vivid-blue diamond centre stone and white diamonds will headline Sotheby’s Magnificent Jewels and Jadeite sale in Hong Kong. The Ai diamond, named after the Chinese word for love, is estimated at US$12,5-US$15,3 million, the auction house said. Several pieces by designer Wallace Chan will also go under the hammer, including a pair of conch pearl, gem and diamond pendant earrings, valued at US$281 000-US$408 000 and a tanzanite, chalcedony and diamond ring, estimated at between US$128 000-US$230 000. Other notable items include two jadeite bangles with a high estimate of US$895 000 and a pair of fancy-vivid-yellow-diamond and white-diamond earrings valued at US$4,9-US$6,1 million. Designs by Bvlgari, Van Cleef & Arpels and David Morris will feature in the sale as well. The auction will take place on 3 October at the Hong Kong Convention & Exhibition Centre. – Rapaport

consensus-building processes that are based not on Section 5’s standards for preventing deception and unfairness, but rather on considerations such as facilitating trade and promoting international co-operation,” they write. “The FTC does not especially seek to harmonise global trade standards, but instead envisages its purpose as consumer protection in the USA,” they continue. “Be that as it may, the FTC Guides definitely have a global impact, hence the decision to focus upon them in this year’s Ethics Commission Special Report.” The other primary international standards of importance to the jewellery and gemstone sectors are those issued by ISO and the various CIBJO Blue Books. An in-depth discussion of these concepts and their potential for impact across the global market will be held at the 2018 CIBJO Congress in Bogotá, Colombia.

NEWS

SA MINT TO HOST INTERNATIONAL MINT DIRECTORS’ CONFERENCE IN 2020 The SA Mint, a wholly-owned subsidiary of the SA Reserve Bank (SARB), has announced that the biennial Mint Directors’ Conference (MDC) will return to SA in 2020. The upcoming event will mark the 31st of its kind and will be held in Cape Town and Pretoria in April 2020. The MDC was created in 1962 in Lausanne, Switzerland and is the best-known international conference where mint directors, manufacturers of coins, retailers and other

stakeholders discuss matters of common interest regarding technology, markets, social contribution and global finances affecting the currency industry. MDC 2020 is expected to attract over 300 guests, ranging from minting industry heads to various other professionals and stakeholders in the minting and related industries. The baton was passed on to the SA Mint by the state-run coin and bank note manufacturer

Korea Minting & Security Printing & ID Card Operating Corporation (Komsco), which hosted the conference this year in Seoul. One of the highlights of the MDC is the awarding and recognition of mints’ designs in coin-making and coin packaging. This year, the SA Mint was recognised for its spectacular packaging designs, winning four awards in this category.

SECOND BHARAT DIAMOND WEEK TO TAKE PLACE THIS MONTH

ZIMBABWE MINER MUROWA JOINS DPA

The Bharat Diamond Bourse (BDB) in Mumbai said visitors to the second edition of the Bharat Diamond Week at the bourse, to take place from 8-10 October, will benefit from competitive pre-Diwali prices. The BDB is expanding the scale of the polished diamond fair following the success of the first edition held from 2325 April, where more than 1 000 visitors from India and around the world did business with 100 Indian exhibitors of polished goods. Bharat Diamond Bourse Vice-President Mehul Shah, who heads the Bharat Diamond Week project, said: “Since India is a huge manufacturing hub and the show’s being held before Diwali, prices will be very competitive. Buyers looking for pre-Diwali bargains will find it a highly attractive time to visit the show. With the Diwali festival starting at the beginning of November, traders will be looking to sell goods ahead of the closure of business for the holiday.” BDB President Anoop Mehta said: “India is the manufacturing hub of the diamond world, so visiting the Bharat Diamond Week gives access to a complete range of inventory which you simply don’t see at other shows. The event has many exhibitors who don’t participate in any other trade fairs, so clients will have access to a whole new world of suppliers.” Mehta added that the team working on the show are putting in place changes learnt at the first edition of the fair, held in April. “Our aim is to create optimum conditions for our many small and medium-sized members. They need help in a world of strong competition in order to show their goods to potential global clients.”

RZ Murowa Holdings has joined the Diamond Producers’ Association (DPA) as its first new member since the marketing body formed in 2015. The company, the majority owner of Murowa Diamonds, operates the Murowa mine in Zimbabwe, which it purchased from Rio Tinto in 2015. The asset produces approximately 1,2 million carats of rough per year, with Murowa expecting this to increase to more than 5 million carats annually by 2022. Its membership in the DPA took effect on 1 July. “The DPA will continue to play a vitally important role in the future of the diamond industry, and broadening our representation and geographic reach will help ensure we maximise the positive impact we can make on the sector as a whole,” says Jean-Marc Lieberherr, CEO of the DPA. Manit Shah, Murowa’s Chief Operating Officer, will join the DPA’s Board of Directors this month. Existing members of the DPA are De Beers, Alrosa, Dominion Diamond Mines, Petra Diamonds, Gem Diamonds, Lucara Diamond Corp and Rio Tinto. – Rapaport

Shah said that a new feature at the October fair will be on-site facilities for checking diamonds created using the Chemical Vapour Deposition method. “It’s critical for our business that consumer confidence in our products remains intact. This is absolutely paramount. Consequently, we’ll have a display of equipment for the detection of such stones so that diamantaires can see the equipment available, how straightforward it is to operate and the financial outlay involved.” He added that October will be a busy month for the Bharat Diamond Bourse and the Indian diamond trade, with many members of the global diamond industry visiting Mumbai. “Following the Bharat Diamond Week, we’ll be holding a meeting of the World Diamond Council on 22 October, which is being organised by the Gem & Jewellery Export Promotion Council. Then we’re hosting the World Diamond Congress from 23-25 October. We’re delighted to be holding the meetings here because it’s critical that the global diamond industry meets every year to discuss the major issues affecting it. We’ll also be holding a Bharat Diamond Week in New York from 29-31 October.”

SA JEWELLERY NEWS – OCTOBER 2018

NEWS

BASELWORLD LOOKS TO REDUCE PRICES Baselworld is proposing to lower prices for exhibitors and visitors in an attempt to reinvigorate the annual watch and jewellery show. “Expenses crossed the pain threshold for many people in past years,” Baselworld CEO Michel Loris-Melikoff said in a recent statement. “With regard to stand rentals, we’ve already modified the fees in past years and we’ll continue modifying them selectively in 2019 to reduce expenses for our exhibitors. We’ll likewise rethink the admission prices and adjust them downwards, if possible.” The value of attending Baselworld has come under the spotlight since Swatch Group pulled its 18 brands – including Tissot, Omega and Harry Winston – out of the 2019 edition, arguing that the show was no longer relevant. The event’s organisers will meet with all participants to find a solution to the high cost of attending. “Our negotiations with hoteliers and restaurateurs make it clear that this will

succeed,” said Loris-Melikoff. Baselworld’s parent company, MCH Group, has been through a period of transition. HansKristian Hoejsgaard joined recently as interim CEO after René Kamm resigned in the wake of Swatch’s withdrawal. Stephan Peyer, a member of MCH’s Executive Committee in charge of corporate development and services, also left for personal reasons, the company said, while Sylvie Ritter quit as Managing Director of Baselworld in May, with Loris-Melikoff taking over. Lower earnings from Baselworld resulted in a 17% drop in MCH’s profit for the first half of the year, the group reported. The show will also give jewellery exhibitors a more central position in Hall 1.2, alongside a new “show plaza” with a 240º catwalk to attract visitors to that location. In addition, it is developing a new communications strategy, enabling brands to showcase their products year round. – Rapaport

CIBJO RELEASES GEMMOLOGICAL COMMISSION SPECIAL REPORT The sixth of the CIBJO commissions’ Special Reports has been released ahead of the opening of the 2018 CIBJO Congress in Bogotá, Colombia, on 15 October. Prepared by the CIBJO Gemmological Commission, headed by Hanco Zwaan, it reveals the results of a survey of 23 gemmological laboratories from around the world, about whether and how they report on synthetic and treated diamonds. “The survey provided a clear picture of the similarities and differences on the reports issued by the various laboratories, and perhaps also suggested the requirements and preferences of different markets around the globe,” wrote Zwaan. “Overall the nomenclature used by laboratories is clear about the nature of the stones described, but there are inconsistencies with regard to the precise terms used, and whether or not grading of synthetic and/or treated stones is permitted.” The Special Report also provides details about a document prepared by the Gemmological Commission, which it intends to serve as a reference point for the industry in the way that it deals with commercial colour terms such as “pigeon blood red” and “royal blue”. Other subjects discussed include how professional opinions can or should be presented separately on laboratory reports and the necessary standards for governing the use of varietal names for different gemstones.

SA JEWELLERY NEWS – OCTOBER 2018

JEWELLERY

Ethical and Fairtrade jewellery launches in SA Say I Do is a new collection of ethical engagement and wedding rings made in SA by jewellery designer Danielle Camera. The Say I Do collection is the first in the country made from Fairtrade Certified Gold. FAIRTRADE CERTIFIED GOLD IS THE WORLD’S first independent ethical certification system for gold. Buying Fairtrade Gold makes a real difference to the lives of miners, their families and communities. “Jewellery with the Fairtrade Gold Stamp is extra-special,” says Camera. “Buying it means you know the small-scale and artisanal miners were paid a guaranteed Fairtrade minimum price for their gold, as well as a Premium to spend on improving their businesses or on community projects, such as education, clean water and healthcare.” The Fairtrade Gold Standards include strict requirements on working conditions, health and safety, handling chemicals, women’s rights, child labour and protection of the environment. Founded in 2017, Danielle Camera Jewellery is a demi-fine jewellery brand with a focus on creating quality contemporary pieces for the modern woman and man. “We’re committed to the well-being of people and the environment. A code of ethics governs our dealings with our customers and suppliers and we undertake to ensure sustainable and ethical business practices,” says Camera. “Our Say I Do collection reflect these values.” Say I Do is a collection of engagement and wedding rings. “It’s a collection of classics, styles that never date and some with a contemporary twist,” explains Camera. Defined by simplicity and sophistication, the collection ensures that the diamond is centre stage. All Danielle Camera Jewellery is made locally, craftsmanship is key. “We pay attention

to the details and therefore choose to manufacture quality products,” says Camera. “Contemporary styling and functionality are at the core of our design aesthetic. Say I Do has been artfully curated and is supported by clear and emotive merchandising. We are looking to partner with select retailers looking to offer jewellery to an ever-growing, conscious customer."

According to a recent consumer survey conducted by the Company of Master Jewellers, 44% of respondents say they would consider whether a jewellery piece or a watch was made ethically, with the majority willing to pay an additional 11% to ensure it was. Delving into the survey further, ethics are more important to female shoppers, with women willing to pay an additional 12% on a piece of jewellery. In terms of age, the 16-24 age bracket are the most ethical of all and are willing to pay 20% more for such an item. “There’s clearly a difference in perspective across the age ranges,” says Company of Master Jewellers CEO Terry Boot. “This age group [the younger demographic] has been brought up in an era when the magnifying glass is continually looking at the way things are produced too, which is why they’re more concerned about ethical manufacturing and willing to pay the most to ensure the process is as watertight as possible.”

SA JEWELLERY NEWS – OCTOBER 2018

DIAMONDS

Synthetic diamonds (p Facing the challenge

In the September 2018 issue of SA Jewellery News, industry expert Dr Petré Prins examined the selling and promoting of synthetic diamonds. In this issue, he asks those who choose to sell the natural product how they ensure and guarantee that the diamonds they sell are of natural origin. SINCE 1945, SCIENTISTS HAVE SUCCEEDED in producing synthetic, laboratory-grown diamonds. Today, gem-quality synthetic diamonds are entering the supply chain at a rapid rate and jewellers are faced with several dilemmas. The proliferation of synthetic diamonds is probably the greatest challenge to the diamond industry since the collapse of the “investment diamond boom” in the early ’80s. For centuries, the value of a diamond has been underpinned by its high cost of production and the emotional and symbolic significance it offers. Synthetic diamonds could bring down these pillars of value. When synthetics get mixed with natural diamonds and sold as the real thing, consumers lose confidence in the integrity of the diamonds they buy and the entire diamond chain suffers. Those making a living from mined diamonds thus have to act decisively to protect the integrity of their products. Fortunately, main players like De Beers, diamond bourses and independent gemstone

The more significant problem is protecting the integrity of natural stones once they have passed a screening test at cutting factories and gem laboratories. Unscrupulous dealers may mix synthetics with natural melee or even cut and engrave a synthetic diamond to match the proportions on a GIA grading report, as has happened. laboratories are prepared for the challenge. The more significant problem is protecting the integrity of natural stones once they have passed a screening test at cutting factories and gem laboratories. Unscrupulous dealers may mix synthetics with natural melee or

even cut and engrave a synthetic diamond to match the proportions on a GIA grading report, as has happened. The answer lies in easy identification, proper documentation, full disclosure and, unfortunately, more regulation.

SA JEWELLERY NEWS – OCTOBER 2018

DIAMONDS

part 2):

wholesalers should have no problem in separating synthetic and treated diamonds from natural stones. Proper documentation

Identification A large number of sophisticated machines have been developed to screen for laboratory-grown diamonds. The latest ones are: • The GIA’s new DiamondCheck, using IR spectroscopy to test for synthetics, simulants and HPHT-treated stones, from 0,005-0,20ct, in colours from D-Z at a rate of 2 000 stones per hour. • The Automated Melee Screening machine (AMS2), developed by De Beers, uses UV absorption to screen hundreds of stones per hour, from fancy shapes and small stones down to 0,003ct, across the whole colour spectrum to 100% accuracy. • Other gem laboratories have also developed machines that can screen up to 12 000 stones per hour. The GV5000 from the National Gem Testing Centre in China and the De Beers DiamondView can test diamonds set in jewellery. • Most of the world’s diamond bourses and gem laboratories have these machines in operation. Thus

SA JEWELLERY NEWS – OCTOBER 2018

Our Consumer Protection Act already demands an invoice to describe the nature of a specific diamond or parcel of diamonds. I propose that in addition, our invoices – at wholesale and retail level – state the number and date of an independent grading report for individual diamonds (most larger diamonds are already sold with such a report) and, in the case of melee, a warranty from the seller stating the testing laboratory, date and number of the test report for the specific parcel. Some would say such a trail of warranties means as little as those guaranteeing conflict diamonds. However, the difference is that no machine can test for “conflict diamonds”, whereas a synthetic diamond can be identified and removed from a parcel of natural stones. Unfortunately, the diamond industry has become accustomed to playing outside the rules and is neither willing nor able to police itself. This is probably why governments keep trying to enforce new regulations. Moreover, the nature of the trade, whereby diamonds rapidly change hands and stones are moved from parcel to parcel, mixed and remixed, makes it doubtful whether the source of every small stone can be traced. Before I am accused of calumny, let me add that the buck stops with retailers. They are held to a higher standard of responsibility because their customers have less knowledge of diamonds than others in the trade. Retailers stand to lose credibility if accused of misrepresentation and would willingly pay extra for a small tested parcel that allows them to guarantee its natural origin. Furthermore, machines can test diamonds set in jewellery. Importers of diamond jewellery could thus request from their suppliers similar warranties which they could pass on to retailers. Although a system of verifiable warranties cannot eliminate misrepresentation, it would go a long way towards helping these retailers. Full disclosure In order to protect their reputation, retailers have no desire to pass off a synthetic stone as a natural one, but they may unwittingly do so. They therefore need protection from their suppliers, because if the retailer loses credibility, diamond sales will inevitably decrease. Traders should be required to invoice diamond parcels

for what they are: synthetic, mixed, tested natural, or, if unsure, the term “sold as is – untested” and the market would adjust the value accordingly. Unfortunately, the rogues among us may still rubber-stamp an invoice as natural. Removing the rogues Jewellery associations worldwide (including the SAJC) have issued directives on terminology to be used for synthetic diamonds. Most international bourses provide testing facilities and have banned synthetics from their premises. Now it is up to these institutions to name, shame and remove those found guilty of misrepresentation. Promoting the real thing Before it is too late, diamond miners should dig deep and provide funds for a significant generic promotional campaign. The US$6 million budget of the Diamond Producers’ Association to do so is insufficient. Co-operative advertising between trade and retail should spread the message that a special, unique and treasured woman deserves an equally rare diamond. Retailers should grab the opportunity to set up mined diamonds against laboratory-grown ones. Romance the real thing, its uniqueness and symbolic value and explain that synthetics are no more environmentally friendly than natural stones. Moreover, eternal love and appreciation cannot be expressed by a manmade product whose value will decrease in the future. The trademarked slogan, “Real Love = Real Diamonds”, rather neatly drives the point home.

Dr Petré Prins, Managing Director of Prins & Prins, studied geology and geochemistry at the University of Stellenbosch and spent two years doing post-graduate research at the University of Cambridge in England. On his return, he was appointed Senior Lecturer in geology and mineralogy at Stellenbosch University, where he taught for 12 years. Dr Prins has received the Corstophine Medal from the Geological Society of SA, as well as the SJ Shand Medal from Stellenbosch University. In 1975 he started in the jewellery industry, completed his MBA in 1979 and formally registered Prins & Prins in 1982.

BRAND MANAGEMENT

Orlik Diamonds expands offerings Established in 1969 by Moshe Orlik at the age of 21, Orlik Diamonds started out as a small diamond-cutting and polishing factory in Israel. The company later moved to Johannesburg’s Diamond Centre and is now situated at 3 Sturdee Ave in Rosebank. After many years of diamond-cutting and polishing, the business has evolved into selling diamonds, precious gemstones, fine jewellery and antiques. “Due to the recession and the current economic climate, we wanted to offer clients a variety of products,” explains Orlik, who is a master diamond-cutter/polisher and expert in the diamond trade. “Our antique collection is remarkable,” he adds. Most antiques are bought on auction, either locally or internationally. “Most of the expensive pieces come from either Eastern Europe or the Mediterranean. One item, in particular, which is quite extraordinary, is a sapphire piece from 1840.” Orlik Diamonds’ gemstone range is also notable because of a number of exceptionally large stones, including a 594ct ruby. “These

pieces are ideal for collectors,” says Orlik. The company also offers a wide variety of shapes and colours, as well as custom and unusual cuts.

Its fine jewellery range incorporates pearls, precious stones and diamonds. All pieces are available in either 18ct white or yellow gold and are designed by Orlik.

Tissot launches T-Race MotoGP limited edition 2018 The T-Race MotoGP is a bold, masculine watch that expresses the strength and power of the world of Grand Prix motorcycle racing. The case structure, inspired by the frame of a racing motorbike, is made of black and rose gold PVD and has a protective fibreglass ring. The dial is inspired by the dashboard, surrounded by a tyre tread motif, and the pushers repeat the “start/ go” wording on the control panels of racing bikes. The bezel resembles a brake disc, while the small holes in the rubber bracelet mimic the material of racers’ suits. The black case with red details on the dial reflects the logo colours of MotoGP and the official logo is silk-printed on the glass case-back. This is a numbered limited edition of 8 888 pieces, each of which comes in a presentation box shaped like a motorbike helmet. The T-Race MotoGP features a Swiss quartz chronograph movement and functions include hours, minutes, chronograph, date and tachymeter. The 316L stainless steel case with rose gold and black PVD coating is 43-47,60

SA JEWELLERY NEWS – OCTOBER 2018

mm in diameter. It features scratch-resistant sapphire crystal and is water-resistant to 10 bars. The rubber strap with synthetic details and stainless steel rose gold PVD coating has a standard buckle. The innovative brand remains in its home in Le Locle in the Swiss Jura Mountains, keeping its Swiss identity at its core. Tissot watches are authentic and accessible, using special materials, advanced functionality and meticulous design detail to create pieces that are both precise and stylish. The high calibre of the brand has been repeatedly recognised, as Tissot has previously been named Official Timekeeper and Partner of MotoGP™, FIM World Superbike, FIBA, AFL, RBS 6 Nations Rugby and the World Championships of cycling, fencing and ice hockey. Tissot, which sells its timepieces in more than 160 countries around the world, is a member of the Swatch Group, the world’s largest watch producer and distributor of Swiss watches.

COINS

Dinosaurs rule on SA Mint’s 2018 Natura Palaeontology Collection

The SA Mint, a subsidiary of the SA Reserve Bank (SARB), has unveiled a striking fivecoin Palaeontology Collection in 24ct gold. The collection brings to life the archosauria – crocodiles, pterosaurs, dinosaurs and birds or the ruling reptiles that roamed and soared freely in southern Africa some 200 million years ago. THE RISE OF THE ARCHOSAURS AND THEIR evolution is a significant event in the history of life on land, since they not only led to the evolution of dinosaurs and birds, but also to the pterosaurs (flying reptiles) and crocodiles. Archosaurs are regarded as the direct ancestors of dinosaurs and the fossil records from the Karoo Supergroup’s rocks hold the key to understanding their early evolutionary history. Besides the Karoo, many discoveries have been made on the continent and in the country along the borders of KwaZulu-Natal, the Free State, the Eastern Cape, the Western Cape and the Northern Cape. These finds have helped fill in critical gaps in the evolution of dinosaurs and provide fresh information on how the southern continents of Africa, South America and India separated. The presence of these fossil records endorses the theory that the South African portion of the prehistoric super-continent of Gondwana was an evolutionary hotspot 260 million years ago. It reinforces the idea that the distant ancestors of mammals actually came from SA.

“Given the limited mintage, the Rise of the Dinosaurs is an exceptional, oncein-a-lifetime acquisition for Afrophiles and those who wish to travel some 200 million years back in time. The coins’ chronological timeline from the early Jurassic period to late Triassic periods gives the collection continuity and should pique the interest of avid collectors.”. “SA’s rich fossil heritage has been pivotal in unravelling the history of life on the planet. The fossil finds have turned out to hold a treasure trove of information on life some 200 million years ago. It’s a privilege to bring this information to ardent fans of palaeontology on

coins that will outlast life on earth,” says Tumi Tsehlo, MD of the South African Mint. The five coins in the 2018 Natura series, aptly named “Rise of the Dinosaurs”, will be available in 1 oz with a face value of R100, as well as in fractionals – ½ oz with a face value

SA JEWELLERY NEWS – OCTOBER 2018

COINS

of R50, ¼ oz with a face value of R20, 1/10 oz with a face value of R10 and 1/20 oz with a face value of R5, with each depicting a different archosaur, all in limited mintages. The 1 oz R100 coin with a limited mintage of 1 000 features the coelophysids, highly successful primitive theropod dinosaurs that lived on numerous continents from the late Triassic to early Jurassic periods. The small, agile bipedal dinosaur preyed on small animals and inhabited SA and Zimbabwe during the early part of the Jurassic period.

Erythrosuchidae were archosauriforms from the late Triassic period of SA and Namibia. The Erythrosuchus africanus was approximately 5 m long and stood over 2 m tall, making it the largest predator of the time. The erythrosuchus had an exceptionally large skull for its frame, occupying approximately one-fifth of its total body length. This creature walked on all fours, with a semi-erect gait, which would have enabled it to move more swiftly than other, more primitive reptiles of the same size.

the Dinosaurs' is an exceptional, once-in-alifetime acquisition for Afrophiles and those who wish to travel some 200 million years back in time. The coins’ chronological timeline from the early Jurassic period to late Triassic periods gives the collection continuity and should pique the interest of avid collectors,” says Tsehlo. “It’s crucial to give this unique heritage the attention it deserves – and what could be better than coins to preserve the history for posterity? Next year’s Palaeontology

Noted palaeontologist and zoologist Dr Francois Durand from the University of Johannesburg contributed to the design of the coins and it is his dinosaur renderings that appear on all the coins in the series. About 165 million years ago, the group of small, feathered dinosaurs that we call birds today evolved from within the theropod radiation. Depicted on the ½ oz R50 coin is SA’s most famous find, the Massospondylus carinatus, one of the most recognised dinosaurs in the world. Massospondylus is a prosauropod dinosaur that lived in the early Jurassic period, which makes it one of the oldest dinosaurs on earth. Only 1 000 coins of these will be minted. Scientists have uncovered clutches of fossilised massospondylus eggs at the site in Clarens bordering Lesotho and also found footprints of hatchlings showing that young dinosaurs stayed in the nest long enough to double in size. These nesting grounds are 100 million years older than any found before. The proterosuchidae, similar in form to the crocodile, features on the ¼ oz R20 coin. The elongated snout of this creature resembles that of a crocodile or alligator, suggesting that it was a specialised fish-eater. Only 1 500 coins of these will be minted.

SA JEWELLERY NEWS – OCTOBER 2018

They feature on the 1/20 oz R10 coin and only 1 500 will be minted. Depicted on the 1/20 oz R5 coin is the Euparkeria capensis, a reptile which lived approximately 235 million years ago during the Middle Triassic period. It was first discovered at the beginning of the 20th century in SA. Euparkeria was one of the first bipedal vertebrates, with its legs longer than its arms, suggesting that it could move around quadropedally. Only 1 500 coins will be made available. All the coins share a common obverse which depicts the fossilised skull, neck and shoulder of an Erythrosuchus africanus. The words “Rise of the dinosaurs”, “Archosauria” and the year 2018 as roman numerals “MMXVIII” complete the design. Noted palaeontologist and zoologist Dr Francois Durand from the University of Johannesburg contributed to the design of the coins and it is his dinosaur renderings that appear on all the coins in the series. “Given the limited mintage, the 'Rise of

Collection will take this evolutionary process further.” Collectors can also acquire the rare Prestige Set, which contains all five coins. Only 100 sets are being made available. The SA Mint showcased the art behind the Palaeontology Collection and other popular coins issued during 2018 at the FNB Joburg Art Fair from 7-9 September 2018. The SA Mint is the continent’s leading manufacturer of legal coin tender, as well as commemorative and rare collectible coins. With over 100 years’ experience in supplying symbols of value to the African and global markets, it prides itself on delivering products that represent its commitment to uniquely African design and supreme craftsmanship. It collaborates closely with its customers to develop distinct and durable monetary products which capture and preserve the heritage and pride of a nation. The SA Mint is a wholly-owned subsidiary of the SARB, established in accordance with the SARB Act.

Celebrating 90 years of being the industry’s only trade journal

Jewellery News

What SA Jewellery News’ readers say about the publication “Thank you for always striving to advance SA Jewellery News for your readers. Being involved in the background allows me to see the effort and hard work your entire team puts in to always improving and progressing the magazine.” – Lorna Lloyd, CEO, Jewellery Council of South Africa “I recently had the good fortune of reading your magazine. It is well-written and contains enlightening and relevant articles. I look forward to reading all your issues from now. Thank you and keep the good articles coming.” – Stefan Swanepoel, Projects Accountant, Namakwa Diamonds “Thank you for a magazine that is informative and honest about news from the local watch industry.” – Mohammed Ravat, Owner, Bellagio Jewellers

“Well done on a great industry read, I always look forward to reading your magazine.” – Tom Tweedy, previous Senior External Communications Manager Corporate Affairs, De Beers Consolidated Mines (Pty) Ltd “A trade journal is key to the development of an industry as it enthuses people and disseminates information and also helps explain the industry to a wider community. As the official trade journal for the jewellery and diamond sectors in Southern Africa, SA Jewellery News has certainly played a significant role in our industry for many years.” – Ernie Blom, President of the World Federation of Diamonds Bourses

To advertise contact IAN STARNES on tel: 082 052 8428 or e-mail: ian@isikhova.co.za or TRIVERN GOODOON on tel: 072 837 4962 or

e-mail: trivern@isikhova.co.za

WATCHES

The tradition of innovation Since 1735, Blancpain has been contributing to the development of mechanical watchmaking, while conserving the traditional skills of its founder.

The 1735 timepiece, the most complicated in the world when it was first presented, brings together the greatest watchmaking complications: minute repetition, tourbillon, perpetual date, moon phase calendar and fly-back chronograph. It takes a master watchmaker an entire year to assemble this calibre. AT THE BEGINNING OF THE 18TH CENTURY, Jehan-Jacques Blancpain perceived the potential in a completely new business activity: watchmaking. In 1735, he founded the Blancpain brand, setting up his first workshop on the upper floor of his house at Villeret, in the present-day Bernese Jura. By recording his name in the official property register of the municipality of Villeret, this pioneer created an establishment which is now the world’s oldest watchmaking brand. Blancpain watches enjoyed great success from the earliest years and the heirs of JehanJacques Blancpain perpetuated his expertise. In 1815, Frédéric-Louis Blancpain, his greatgrandson, who was head of the family business at the time, modernised production methods and transformed the traditional craft workshop into an industrial undertaking capable of serial production. By replacing the crownwheel mechanism with a cylinder escapement, Frédéric-Louis introduced a major innovation to the watchmaking world. With the resources of its expertise, by the middle of the 19th century the House of Blancpain had become the most substantial enterprise in Villeret. Towards the end of that century, as industrialisation took hold, the prices of watchmaking products were falling and many workshops were forced to close down. To face up to American competition, in 1865 Blancpain built a two-storey factory alongside the Suze River and used the water to supply the electricity needed for its production

SA JEWELLERY NEWS – OCTOBER 2018

processes. By modernising its methods and concentrating on topof-range products, Blancpain become one of the few watchmaking firms to survive in Villeret. In 1926, the manufacture entered into a partnership with John Harwood and started marketing the first automatic wristwatch. Four years later, Blancpain adapted the system to smaller watches and launched the rectangular “Rolls”, by Léon Hatot, which became the world’s first ladies’ automatic watch. 1932 saw the end of the family’s management of the firm, which had lasted for over two centuries. Upon the death of FrédéricEmile Blancpain, his only daughter, BertheNellie, did not wish to go into watchmaking. The following year, the two members of the staff who had been closest to Frédéric-Emile, Betty Fiechter and André Léal, bought the business. As there was no longer any member of the Blancpain family in control of the firm, the two associates were obliged by law to change the company name. Henceforth, the firm would be called “Rayville SA, succ de Blancpain”, “Rayville” being a phonetic anagram of “Villeret”. Despite this change of name, the identity of the manufacture was perpetuated and the characteristics of the brand were preserved. Betty Fiechter remained Director of Blancpain until 1950, when her nephew, Jean-Jacques Fiechter, joined her. Together, they brought fresh impetus to the firm. Among the manufacture’s great successes is the Fifty

Fathoms, launched in 1953 and produced at the request of the “Combat Swimmers” of the French navy, who needed a reliable watch for their underwater operations. Captain Robert “Bob” Maloubier and Lieut Claude Riffaud, the co-founders of the unit, submitted the project to Jean-Jacques Fiechter, by then CEO of Blancpain, who accepted the challenge. Worn by Jacques-Yves Cousteau, among others, the Fifty Fathoms became the standard of reference among diving watches. Three years later, Rayville-Blancpain repeated this success with the Ladybird, a model equipped with the smallest round automatic movement of the time. At the end of the 1950s, Rayville-Blancpain was producing more than 100 000 watches per year. To make it possible to meet the continually

WATCHES

growing demand, the firm became part of the SSIH (Swiss company for the watch industry), joining such brands as Omega, Tissot and Lemania. In 1971, production topped 220 000 watches. During the 1970s, the watchmaking industry came up against major problems: quartz watches were revolutionising the watchmaking sector. The fall of the dollar against the Swiss franc reduced transatlantic exports. The first oil crisis, in 1973, provoked a worldwide recession. The SSIH was forced to reduce its output by half and sell off part of its assets. On 9 January 1983, it sold the Rayville-Blancpain name to Jacques Piguet, son of Frédéric Piguet and Director of the eponymous company, and Jean-Claude Biver, at that time employed by the SSIH. The company set up production at Le Brassus, in the Joux Valley, and from then on traded under the name of Blancpain SA. It was the start of a new chapter for Blancpain. Until then, many of the movements made by the manufacture had been concealed in watches of other brands, relegating the name of Blancpain to a secondary role. The company decided to retain exclusive possession of its expertise. While some specialists were predicting the end of traditional watches with the advent of the quartz movement, Blancpain committed itself to the production of “grande complication” wristwatches. From then on, the Blancpain manufacture would produce watches in the purest traditional style, in the same spirit as those Jehan-Jacques Blancpain and his successors had made more than two centuries earlier, 100 km away. In parallel, Blancpain devoted every effort to the revival of mechanical watchmaking, rehabilitating traditional complications and publicising the story of the watchmaking guilds and the central role played by the masterpieces which embodied the highest achievements of the watchmaker’s craft. By reviving the beginnings of watchmaking, as it had been practised in the remote farms of the Jura, Blancpain enabled both the culture and the art of traditional watchmaking to survive and make progress. The finest example of this expertise respecting tradition is undoubtedly symbolised by the 1735. This timepiece, the most complicated in the world when it was first presented, brings together the greatest watchmaking complications: minute repetition, tourbillon, perpetual date, moon phase calendar and fly-back chronograph. It

Blancpain revived the Karrusel, a complication forgotten for over a century, and incorporated it into a wristwatch for the first time. This creation embodies the spirit of the values of the firm: bringing out the best in watchmaking tradition through innovation. Drawing on the rich history of Blancpain, the new management is readjusting the focus of its collections to express the values which make up the brand’s DNA. The Fifty Fathoms has been revived and the Villeret collection subtly reinterpreted, while the new, avant-garde L-evolution collection has been launched. The brand’s image is gaining in clarity and consistency. Distribution has been completely overhauled and many Blancpain boutiques are opening in the most prestigious neighbourhoods of the great cosmopolitan capital cities. Blancpain’s constant innovations in the sector of top-of-range watchmaking have brought vigorous expansion in its train. In 2010, the manufacture of Le Brassus verticalised production with the acquisition of the Frédéric Piguet company, which was already producing movements and components for Blancpain, thus gaining access to a new production site in the Joux Valley.

takes a master watchmaker an entire year to assemble this calibre. In 2002, Marc A Hayek became Chairman and CEO of Blancpain and gave a new stimulus to the manufacture, which set out on a quest for excellence, without ever departing from its precious inheritance. Considerable investments were allocated and the Research & Development Department was strengthened and encouraged to move forward off the beaten track. The number of world premières and patents grew with an impressive display of new movements. Among others, in 2008

Sources: • www.blancpain.co.za • www.swisstime.ch

For over 15 years, www.swisstime.ch has been one of the key portals for Swiss watchmaking. Initially focused on journalists, the site is now equally consulted by enthusiasts and industry professionals. Swisstime is 100% dedicated to “Swiss-made” watch and jewellery products. The site features nearly 600 Swiss watchmaking and jewellery brands.

SA JEWELLERY NEWS – OCTOBER 2018

MARKETS

Business barometer AUGUST 2018 VS AUGUST 2017

A monthly survey conducted by SAJN among industry players (small and large) on a national basis.

DIAMOND DEALERS

RETAILERS

WHOLESALERS

Best-selling diamond size

33,3%

66,6%

BETTER

33,3%

% SAME

33.3%

66,6%

WORSE

0,5ct

0% WORSE

WORSE

General sales compared with last year this time

Foot traffic

General sales compared with last year this time

Watch sales

100% BETTER

0% % SAME

WORSE

BETTER

Breakdown of retail sales

0 % SAME

100% WORSE

bridal

fine jewellery

watches

15%

74%

11%

MANUFACTURERS 20

50% BETTER

0% BETTER

25% BETTER

2015 2016

2017

25%

2018

% SAME

25%

100% % SAME

75% % SAME

WORSE

Consumption of gold compared with last year this time

Consumption of platinum compared with last year this time

Consumption of silver compared with last year this time

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

(Above): Year-on-year statistics for the jewellery industry reflecting armed robberies, burglaries, armed night robberies and smash-and-grab incidents. – All information supplied by the Consumer Goods Council

SA JEWELLERY NEWS – OCTOBER 2018

LITTLE GEMS

Edward and Alexandra – the Edwardian style King Edward VII of England was regarded as an arbiter of men’s fashion. Alice Weil remembers the Edwardian era.

KING EDWARD’S WIFE, the Danish-born Princess Alexandra, was 18 at the time of their marriage in 1863, when he was Prince of Wales and the heir to Queen Victoria. Frivolous clothes and fine jewels became Alexandra’s passion and she was reported as having the world’s most perfect shoulders and bosom for displaying jewels. She discovered that Queen Victoria had amassed an enormous jewellery collection, which she coveted. When she became Queen Alexandra after Victoria’s passing, she adopted dog collars to cover a small scar on her neck. Tiaras, ribbons, scarves, diamonds and other jewels, as well as long strings of pearls, became her signature look and her general appearance and beauty were admired and copied by other women of that era. As Prince of Wales, Edward was an influential customer of Cartier – the phrase coined was “King of jewellers; jeweller to kings” – and when he ascended the throne, he was responsible for persuading the noted Parisian jeweller to open a branch in London. He commissioned 27 diadems in 1902. Edward and Alexandra are credited with launching the Belle Epoque – a time when elegance and fashion became society’s predominant set of values. New wealth flourished among the upper and middle classes. The royal couple were the fashionable elite during their long wait to ascend the throne occupied by Edward's mother. He held the title of Prince of Wales longer than anyone else. Named after him, the Edwardian era

coincided with the arrival of a new century which heralded important changes, both in technology and society, and Edward played a significant role in the modernisation of the British throne and government institutions. Jewellery trends favoured the garland style with decorative motifs such as ribbons, bows, swathes, tassels and garlands of flowers and wreathes. Diamonds and pearls set in platinum, giving an impression of whiteness, were the order of the day. Platinum was also chosen because of the metal’s strength, which enabled jewellers to create "invisible" settings in which it was used to hold the gemstones in place. Whiteon-white became the “look” which was desired. Upswept hair, ever since known as the Edwardian style, high collars for the day and low necklines in the evening encouraged the wearing of pendants and lavaliers, widely worn, drew attention to the head and neck, particularly the so-called negligée pendant, which consisted of two drops of unequal length supported by a central element. When Edward toured India, the style of the Indian princesses and maharajas encouraged Alexandra to develop an interest in their mode of dress. This triggered the fashion to diamond aigrettes, which were feathers worn in the hair as an ornament, sautoires with long ropes of pearls and chains, ending in a tassel. Circular and bar brooches in large filigree designs or stars and crescent shapes were also popular. A star brooch completely covered in diamonds was a favourite design. Amethysts were a favourite of Alexandra which were widely copied and greatly used in Edwardian jewellery, especially if combined with white pearls and green peridots, representing the colours of the Suffragette movement – the “g” in "green" representing “give”, the “w” of "white" for “women” and the “v” for the "violet" of the amethyst for “vote” – which stood for “give women the vote”. Engagement rings from this period featured filigree detail and contained antique diamonds with the Old Mine Cut and Old European Cut

stones. These rings were made of either platinum or white gold. Matching the rings were filigree earrings and necklaces, complemented by platinum or white gold wedding bands. (What goes around, comes around!) Victoria had intended her son to reign under the name of Albert Edward, but after her death in January 1901 and his ascension to the throne at his and Alexandra’s coronation in August 1902, he chose to reign under the name of Edward VII, claiming he did not wish to undervalue the name of Albert, nor diminish his father’s status so that name Albert among royalty should stand alone. Edward’s reign was brief. A serious smoker, he usually smoked 12 cigarettes and 12 cigars a day and was subject to attacks of bronchitis. In early May 1910, he was laid low with two successive attacks. These were followed rapidly by a series of heart attacks on 6 May 1910, culminating in his death and bringing to an end the Edwardian era.

A Cartier jewel of the Edwardian era is this piece in the garland style, which can be worn as a diadem or collier. It consists of two branches containing diamonds set in platinum.

SA JEWELLERY NEWS – OCTOBER 2018

OR TAMBO SEZ INVESTMENT OPPORTUNITIES Globalization is taking root across the world at a rapid pace. And South Africa has moved to ensure that its citizens benefit from this.

This will be home to further opportunities, including an aerospace component and advanced additive manufacturing.

By adopting Special Economic Zones to facilitate trade and investment, and create much needed employment opportunities.

As part of a bold initiative to invest in the rapidly growing clean and renewable energy sector, the OR Tambo SEZ is also planning to locate a fuel cells manufacturing plant on a 14 hectare piece of land, located in Springs.

Currently under construction at the OR Tambo International Airport precinct, The OR Tambo Special Economic Zone is one of seven such investment initiatives in South Africa. Operated by the Gauteng Industrial Development Zone Company, a subsidiary of the Gauteng Growth and Development Agency, The OR Tambo SEZ is beginning construction on a 7.5 hectare piece of land, and focuses primarily on high value low mass commodities. This presents a wealth of opportunities in multiple sectors, such as perishables. Several investors have already partnered with the OR Tambo SEZ.With an investment focus on agro-processing, tertiary metals processing, mineral beneficiation, pharmaceuticals, and electronics.Plans for an expansion phase on a further 32 hectares of land are at an advanced stage.

There too, investment opportunities are available, making the OR Tambo SEZ an ideal choice for investment in Gauteng, the leading province in South Africa, in terms of GDP and wealth creation. OR Tambo is an ideal choice for an investor looking to cement their investments in Africa, by manufacturing for export to Africa and other parts of the world. So if you are looking to break into manufacturing or exporting in Africa and abroad. In the high-value low-mass business, and keen to get closer to the heartbeat of commerce in South Africa… Look no further than the OR Tambo Special Economic Zone.

TEL: 010 001 9120 • EMAIL: INFO@GIDZ.CO.ZA • WEBSITE: WWW.GIDZ.CO.ZA