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	JA Show Trends
Styles Established looks continue to dominate. Symbols, such as crosses and hearts, are hotter than ever. Brooches and pendants are beginning to downsize, reflecting the spending mood of consumers, appearing in all-metal and colored gem designs. Beads of all kinds and in all sizes, especially colored gem and metal versions, are still popular. Chain links were diamond covered or all metal, most often in oblong, oval or marquise shapes. Jewelry accented by rubber or silk cords in all colors had a strong showing. Precious Metals Silver sold well, and was often seen mixed with 18k gold. Stainless steel, also mixed with 18k gold, had a much stronger showing this year than in years past. Interest in gold was high, often seen with matte finishes. Heart motifs and bridal jewelry still dominate platinum-intensive lines. Brushed metal beads were in abundance and enamel touches were everywhere. Rings and bangles with cutout messages are returning. Titanium lines are increasing as consumers look for new white metals. LEARN MORE... »

	One in Four Consumers Aware of Conflict Diamonds, Says Study
In a study of the Jewelry Consumer Opinion Council in July 2003, 26% of consumers said they are aware of the term conflict diamonds, representing an increase among this group. This is a jump from 16% who said they were aware of conflict diamonds in December 2002, 9% in May 2001 and 7% in October 2000. READ MORE »

	Samuels Files for Bankruptcy Reorganization
Samuels Jewelers Inc., the eighth largest U.S. retail jewelry chain with 113 stores in 19 states, on Aug. 4 filed for bankruptcy protection while it reorganizes under Chapter 11 of federal bankruptcy law. The Austin, Texas-based company will attempt to restructure about $78 million in debt incurred in the last five years and position Samuels for "renewed growth and profitability," says Samuels' statement. Chapter 11 allows a company to continue operating while it prepares a reorganization and debt-repayment plan for federal court approval. This is the third time since 1991 that the company (formerly known as Barry's Inc.) has reorganized under federal bankruptcy law. Read More »

	Consumer Confidence Index falls nearly seven points in July
The Conference Board's Consumer Confidence Index, which was virtually unchanged in June, declined in July. The Index now stands at 76.6 (1985=100), down from 83.5 in June. The Expectations Index fell to 86.4 from 96.4. The Present Situation Index declined to 61.9 from 64.2. "The rising level of unemployment and sentiment that a turnaround in labor market conditions is not around the corner have contributed to deflating consumers' spirits this month," says Lynn Franco, Director of The Conference Board's Consumer Research Center. "Expectations are likely to remain weak until the job market becomes more favorable." Consumers' assessment of current conditions was less favorable than last month. Those rating present business conditions as "bad" increased to 30.4% from 28.1%. However, those holding the opposite view increased to 16.3% from 14.9%. Consumers claiming jobs are "hard to get" rose to 33.1% from 31.9%, while those claiming jobs are "plentiful" declined to 10.5% from 11.2%. READ MORE »

	Israel's Polished Diamond Exports Rise 5.4 Percent in July
AUGUST 05, 2003 - Ramat Gan, Israel -- Israel's net exports of polished diamonds rose 5.4 percent in July, to reach $581.5 million, compared to $551.7 million in July 2002, the Israel Ministry of Industry & Trade's diamond controller reported today. The country's net polished exports for the first seven months of this year reached $3.2 billion, an increase of 1.2 percent over the corresponding period last year. Imports of polished diamonds jumped 24.6 percent in July to reach $255.5 million. Polished imports from January to July 2003 rose 45.9 percent compared to the first seven months of 2002. READ MORE »

	Advanced selling tip #14
David W. Richardson, CSP Internationally Renowned Sales and Management Trainer CREATE A SALE FROM "JUST LOOKING" A man is standing at the counter "just looking" and you say to him, "Do you know the way to a woman's heart?" When he responds, "No", or "No, tell me", then you've got the guy involved in a conversation, so have your next question ready to roll off your tongue. "The way to a woman's heart is an unexpected gift at an unexpected time." At that moment, a light bulb goes on in his head and you have the beginning of what could be a terrific sale. Don't believe it? Ask the women in your store what the way to their hearts is and see if they don't agree that it's an unexpected gift at an unexpected time. For the smart guy who answers you with, "Sure, lots of diamonds" or some such thing, you've still opened up a conversation that involves giving a gift of jewelry. You can either use this great line alone or tell him, "Well, it's not so much that women want a lot of diamonds, but they sure are thrilled with an unexpected gift at an unexpected time . . ." ~~~~~~~~~~~~~~~~~~~~~~~~~ There's no time like the present to give us a call at 1-800-338-5831 to book your sales training for the year. While these weekly tips provide support for your staff, there's just nothing like an interactive in-store meeting to boost energy, provide hands-on practice for some of the techniques I've discussed, and to make your salespeople feel like you want to invest in their futures as valued employees. JEWELRY SALES TRAINING Have a question for David? CLICK HERE Technology question?...We have the answer! FILE EXTENSIONS Q: Sometimes I receive files and I don't know what kind of file they are. Is there some place I can go to find out what kind of file it is? A: Chances are you are already familiar with popular file types that you probably deal with regularly such as Microsoft Excel files or JPG (image) files. Most of the time you don't have to think about what kind of file it is because when you go to open that file your computer knows what kind of file it is and assuming you have the right software, opens the file. File names are followed by a period and a group of letters after the period, which is called the file extension. For example an Excel file name would look something like this: budget.xls with the "xls" being the file extension. Generally, the extension defines the "file type" and this tells the computer what kind of file it is. In Microsoft Windows this is what is called a file extension association. The computer understands that the specified software (Excel) should be used to open files of a specific type (extensions of .xls). Sometimes if you rename a file and forget or mistype the extension, you can no longer open that file. Just rename the file again but with the correct extension. Keep in mind that the file name extension is not an absolute guarantee of what kind of file it is, but a pretty good guideline. However, you might run into a file type you've never met before. If you do get a file that your computer can't open or it has a file extension you are not familiar with then further investigation is necessary. And although you probably already practice safe computing, it's important to mention that you should not open attachments/files from unknown sources. Even from known sources, I generally don't open attachments unless it is a file I've specifically requested. There are some very good resources on the Web that provide a comprehensive listing of the hundreds of file extensions and what kind of file it is. Two such sites include: CLICK HERE CLICK HERE If you find you can't open a file, there's a good chance that you just don't have the right software. Another possibility is that you may need to create a file association so that the computer knows which software to use to open the file. Instructions on creating file extension associations can be found in Windows Help by searching the Index for "extensions, file". Please e-mail your technology questions to Kirtsen Darrrow and every week we will feature a question(s) and the answer in our newsletter. E-MAIL Kirsten Darrow Kirsten Darrow Sales & Marketing Manager 800-253- 9272 ASC - The Smart Software For Jewelers VISIT ASC ONLINE »

	FREE jewelSpace Training Seminars
Imagine test driving an extremely valuable car- you are able to see, hear and touch it- before you have to buy it and spend your hard-earned money. Wouldn't it be great if you could test drive software before you have to buy it? Allowing you to make an educated decision on your purchase? Well, that is exactly what jewelSpace is offering you. jewelSpace will be holding several Training Seminars across the country so that you are able to see, hear, and touch jewelSpace for yourself. The dates are: Denver- Aug. 24th Chicago- Sept. 5th Cincinnati- Sept. 7th Atlanta- Sept. 19th Dallas- Sept. 21st Los Angeles- Oct. 3rd Come and experience the power of jewelSpace for yourself! Call today at 888-750-3330. Seating is extremely limited. Refreshments will be served. Sara Gendron is Director of Development and Training for jewelSpace 2 JEWELSPACE and is a nationally renowned authority in Computer Aided Jewelry Design. She can be reached at CLICK HERE Four pillars of profit Dan Gendron has been in the forefront of showing jewelers how to find amazing new profits for many years, and hundreds upon hundreds of jewelers are thrilled that he has. The retail jewelry business is changing. Aside from the fact that consumers can buy diamonds on the Internet, sometimes for less than you can, the "Mart" stores are encroaching on what was once exclusive territory. Today we have the "Mart" stores selling items that once belonged to the independent jewelry retailer alone, carrying moderately priced wedding bands, engagement rings, and even school rings -- Goldman and Keepsake wedding bands, Speidel and more, all at prices that you cannot possibly compete with. I recently heard an ugly rumor that one of the "Mart" stores is going to be selling certed diamonds soon. The days of retail jewelers being able to fill their showcases and stand back as customers buy it up are passing before our eyes. It's important for today's jewelers to stand out from their competition. The way to become "competition- proof" is to offer services that are available ONLY through professional retail jewelers and develop ways to innovate that the "Mart" stores cannot compete with. There are four pillars that will hold up your store through these changing times and beyond, even when the economy is such that sales drop even further. These pillars will set you apart from the stores that can only offer price, not service. They are: This weeks Pillar WATCH REPAIRS Do you allow big profits to walk out your door every day? Do you consider watch repairs a "favor" you do for only certain customers? Are watch repairs a hassle for you, with big shipping charges to and from your watchmaker? Are you paying out all your watch repair income to have watches fixed outside of your store? Most retail jewelers simply hate watch repairs of any kind. This is no secret. It really, really shows. In my travels I have many opportunities to surreptitiously visit jewelers under the guise of needing a watch repaired. It never ceases to amaze me how I am greeted by most jewelers when I walk in with a watch repair. Most look like they are being subjected to a proctologic exam! As a matter of fact, when I do a speaking engagement for a group of jewelers, I always ask those in the group to raise their hand if they take in watch repairs for watches they have not sold. Fewer than 5% actually raise their hand! This creates an enormous reservoir of untapped potential. With only 5% of jewelers offering watch repair, this means that the average customer will have to go to 19 jewelers before finding the one who will serve their watch repair needs. Imagine yourself in the circumstance of looking for someone who could dry clean silk for you and having to go to 19 dry cleaners before finding one who would do it for you. Without any dispute, you would prize the dry cleaner that provided this service and, most of all, remember them the next time you needed any dry cleaning done. The same is true in our business. It is easy to stand apart from all the mediocrity with watch repairs. To quote David Geller "Repairs are not price sensitive." They are service sensitive. And they are HIGHLY PROFITABLE!!! Take, for example, a round, flat, mineral glass crystal. This is the most popular type of crystal used today. Average Cost: 65 cents. Average Time required to install: 5 minutes. Average retail: $35 to $45. Net result: you are a hero, and you made $40 in 5 minutes. Let's look at another example. Tag-Heuer, Movado and Omega all use the ETA 955.114 quartz movement. Average cost: $14. Average Time to install: 10 to 15 minutes. Average retail: $85 to 150. And again, you are a hero. There is an old axiom: build a better mousetrap and the people will beat a path to your door. This is certainly true with watch repairs. Once you begin to take advantage of this highly profitable and under- appreciated aspect of your business, your volume of watch repair will typically quadruple in less than 6 months. This isn't hard to understand. The demand is overwhelming and only waits for you to take advantage of it. The "Mart" stores of the world cannot offer these services. Watch repair is a gold mine for you to explore! Needless to say, most "Mart" stores are a little more than gun shy about changing watch batteries and watchband adjustments. To put it mildly, very often they make really big mistakes. I have seen them pry off the back off a Piaget Polo (for those who don't know, this watch costs $16,000). In the process of trying to replace the battery, they broke the tops off 12 18kt gold screws and bent the back. Tip: Most retail jewelers do not know that the "Mart" stores have a policy that they will pay whatever you charge to fix their screw-ups. We all have seen customers come into our stores with a watch in a plastic bag, torn apart, with a bewildered look on their face, saying they just came from a "Mart" store! Most retail jewelers have pity on the poor mistreated "Mart" store customer. We close the case back or properly install the battery and either charge very little or we do it for free. Well it's not necessary to do this for free! Simply charge the customer a FAIR price. You should be charging these customers a minimum of $25. Don't feel bad for the "Mart" store customer. Simply send them back to the "Mart" store and have them see the manager, your bill in hand. The manager will cough up the money, whatever it is. I know this. I have seen the ops manuals. Before any of you jump to the conclusion that these customers will some day become "GOOD CUSTOMERS," do an exercise with me. Write down on a legal pad 100 times, "'Mart" store customers will some day return and make a major purchase." Before you get to write it more than 10 times, it will seem ridiculous - because it is. Still think watch repairs are a pain? In just two days, Dan Gendron, 6th generation watchmaker, can change all that. He's done it for hundreds and hundreds of jewelers. Yes, in just two days, Dan can teach you to repair quartz watches using the same method as the factory service centers. In his famous, hands-on course, you'll learn to replace crystals and stems & crowns, you'll make watches water resistant, you'll learn to identify and order quartz movements, you'll learn to change a mechanical watch to a quartz movement, and, best of all, you'll learn to do all this...PROFITABLY! Just one of the procedures Dan will teach you can make you, the average jeweler, an additional $30,000 or more THIS YEAR. What are you waiting for? Classes are held throughout the country! Call 888-750-3330 or visit CLICK HERE To see samples of how amazingly simple quartz watch repairs are, go to the folder (separately on this disk) named "WR Videos" and use Windows Media Player to view them! Also, go to WRV for more information on Video Classes!

	De Beers Hopes to Land in U.S. in 2004
De Beers told the Financial Times of London it met with the U.S. State Department and plans to meet with the U.S. Justice Department to clear the barriers to doing business in the U.S. by some time in 2004. The Justice Department has barred De Beers from selling diamonds directly into the U.S. on antitrust grounds. There's also an outstanding indictment against De Beers on a charge of industrial diamond price-fixing. De Beers told FT it hopes the green light it received from the European Commission for its revamped Supplier of Choice marketing strategy and for its joint venture with LVMH to sell diamonds at retail would convince U.S. authorities it is no longer a monopoly. The company has long hoped its proactive involvement in the Kimberley Process, to prevent the sale of conflict diamonds, would also help its case in the U.S. Pearls of wisdom "You Can Judge a Man's Character By How Well He Treats People That Can Do Nothing For Him"

QUICK LINKS

2003 INTERNATIONAL SHOW GUIDE PROFESSIONAL JEWELER CALIFORNIA JLRS ASSOC NATIONAL BRIDAL SERVICE SOUTHERN JEWELRY NEWS JCK

GEMFIND SERVICES NATIONAL JEWELER JEWELRY NEWS CONTINUED INSTORE MAGAZINE DALLAS FINE JLRY SHOW AMERICAN GEM TRADE ASSOC. GANOKSIN

A detail shot of Vanessa Bryant's hand, wife of Los Angeles Lakers basketball player Kobe Bryant.Mrs. Bryant is wearing the $4 million ring on her right hand purchased recently by her husband and a bracelet stating 'I Love Kobe.