Whitefire Blog

Operations Halted By Court Order
Whitefire Diamonds & Fine Jewelry
Chase Bank Building
7600 Burnet Road, Suite 520, Austin, TX 78757
512-231-8502


"Whitefire Diamonds Inc is currently subject to a court order in cause No. D-1-GN-11-002064, pending in the 345th Judicial District Court, Travis County, Texas, effective July 19, 2011, preventing the operation of Whitefire Diamonds in any way pending further order of the court."

For the second year in a row now WhiteFire Diamonds and Fine Jewelry was nominated as a top retailer in the Austin, TX area. However, this year WhiteFire Diamonds can now boast the newest winner of "2010 Capital of Texas Retail Award" for small business. The award is sponsored by the "Greater Austin Hispanic Chamber of Commerce (GAHCC)" and "Ahora Si"- a hispanic supplement publication of of the "Austin American-Statesman".

Yes, we buy gold. Why not get rid of that old jewelry of yours. We purchase your unwanted or broken jewelry created in 10K, 14K, 18K and Platinum metal.

Great Reasons to cash in your Gold

- Christmas Holiday shopping
- Home repair project
- Auto repairs
- Auto down payment
- Special gift purchase for a loved one
- Extra cash for school tuition?
- The possibilities are limitless

Don’t waste your time in pawn shops, the payout is terrible. At WhiteFire Diamonds and Fine Jewelry we are confident that we can offer more than the average pawn shop for your old or broken jewelry. Give us a call today and see if your items are right for selling. Call WhiteFire today at 800.489.3461 or local at 512.231.8502 for an appointment or questions you may have.

Elegant Eternity diamond ring offered at a fantastic value. Click on image for details.

Estate Loose Diamond For Sale

We recently received a beautiful Certified 5.04 carat Internally Flawless, Cushion Brilliant Diamond on consignment. This graded by The Gemological Institute of America. This Cushion cut diamond is offered at a fantastic value.

We recently received a question about Cut Grades for Princess Cuts from a shopper who was searching for loose diamonds on our WhiteFire "Loose Diamonds" page.

The question was- "Why aren't there Cut Grades for Princess cut diamonds"?

As far as I know, "Cut Grades" are only issued for Round Brilliants. Currently The Gemological Institute of America does not issue cut grades for Princess cut diamonds. Also, I don't believe other gemological labs issue Cut Grades for Princess cuts either.

Some Diamond E-tailers may issue their own Cut Grade classification for Princess cuts and other fancy shapes. However, the Cut Grade is NOT graded as so by an accredited lab like G.I.A. In my opinion,
Diamond E-Tailers will give their own Cut Grade classification in an effort to make their product look more appealing to the buyer.

I hope this answers your question. Please do not hesitate to write or call for any additional questions or concerns you may have.

We received a new diamond from a private client today. The diamond is a beautiful 1.07 carat Princess Brilliant and is graded by the Gemological Institute of America. It is offered at a fantastic price. Simply click on the following URL to view the item.

http://www.whitefirejewelry.com/item-Princess-Brilliant-Diamond-1.07-carat-sku-WF00897.html

Be on the lookout for more exciting values.

This is an advisory for a stolen watch. Rolex Submariner, 50th Anniversary Edition Green Dial, serial number M245306. Owner is still in possession of the original box and papers and is offering a CASH Reward for information leading to the recovery of this watch. Please contact us immediately if you should come across this watch- 800.489.3461. Ask for Joseph Villarreal.

We found some interesting notes about 18k gold on Periscope.com - useful if you are considering having a piece of custom jewelry made.

Gold is popular because it can be worked into almost any shape. 18k Yellow gold jewelry does not tarnish and rarely causes problems for people with skin irritations. White Gold is popular for its appearance and price point compared to platinum.

Technically there is no such thing as 'White Gold.' Gold can be whitened by combining it with "whiter" metals but we plate all WG pieces with Rhodium, a member of the platinum family and the whitest precious metal after silver. Rhodium plating creates a hard skin with good resistance. Over time plating may wear but re-plating will restore the white finish as before.

POPULAR GOLD ALLOYS

24K gold (100% pure gold) does not work well for jewelry because it is too soft. A more durable option is 18K gold, which is 75% pure gold. It has the rich color of 24K gold where some of the lower karat alloys may not.

IDENTIFICATION:

18K gold is marked '18K' in the USA and '750' in Europe.

1. 18K Yellow Gold

75% Gold, alloyed with Copper, Silver, Zinc and/or Cobalt
Does not require plating
+ Very workable
+ Rarely causes skin irritation
- Will wear down, but over a long period of time with heavy wear

2. 18K White Gold (nickel white gold)

75% Gold, alloyed with Copper, Nickel, Zinc and/or Palladium
Requires rhodium plating and re-plating over time, depending on wear
+ Less workable, less ductile
- Causes skin irritation for people with nickel allergies
- Will wear down over a long period of time

3. 18K Palladium White Gold

75% Gold, 25% Palladium
Requires rhodium plating and re-plating over time, depending on wear
+ Very workable
+ Rarely, if ever, causes skin irritation
- Will wear down over a long period of time
- Slightly more expensive than 18K nickel WG

What is Lead Glass Filled Ruby?

Simply put, Lead Glass Filled Ruby is natural Ruby that has been treated. Lead Glass Ruby is also referred to as "Composite-Ruby, or Glass-Filled Ruby."

"Composite rubies, which were initially sold in overseas gem markets, have reached the U.S. market in recent years, and have created some controversy within the trade since their arrival. They have been described as consisting of about 50 percent ruby, 50 percent glass--although the ratio varies. As a result of the treatments, composite rubies are less expensive than rubies that have undergone conventional treatments. Other treatments include but not limited to Heat treatment for a more desirable color while others may also be filled to hide fissures."

"Given that the composite rubies have become much more common in the U.S. market in recent years, and as the treatments that produce the stones have improved, the feeling is that "there's a place for them in the market," and that there is also a need for proper disclosure. Several television media exposés over the past year have revealed composite ruby jewelry being sold without proper disclosure, with salespeople describing the stones improperly and not telling customers that the pieces require special care. Therefore, proper disclosure should be implemented."

In closing, "Buyer Beware". Don't assume that just because you are buying from a national chain store you are getting what you are paying for. Ask questions, ask a lot of questions.

Reference National Jeweler Magazine, May 26, 2010

Earlier this month, two blue diamonds broke records in Geneva at Sotheby's "Spring Sales of Magnificent and Noble Jewels". This obviously another display of the intense interest in natural colored diamonds at auctions worldwide.

The "Star Turn", a 7.64-carat, cushion-shaped fancy intense blue diamond mounted in a ring sold for $8.03 million, or $1.05 million per carat, following fierce competition from three buyers. According to a news release, the sale sets a new record per-carat price for a fancy intense blue diamond sold at auction.

The second blue diamond, a 5.02-carat fancy vivid stone set with a 5.42-carat white diamond in a "toi et moi" (you and me) ring from French jeweler Alexandre Reza, sold for $6.32 million. The sale set a new auction record price for a jewel by any French designer, according to Sotheby's.

A note about color: A diamond termed "vivid" in color is rarer and therefore more expensive than an exactly matching diamond of "intense" color.

Source- National Jeweler Magazine, May 12 , 2010

According to industry sources, Retail giants Sears and Kmart are now joining the band wagon by purchasing gold from its retail consumers. Apparently gold buying programs will be instituted within their jewelry departments where an independent manufacturer and refiner will actually process gold buy back transactions.

Sears will provide "gold buying kits" to its customers with instructions and a pre-paid shipping envelope insured for up to $750. Afterwards, customers can track their gold online via a website provided by Sears at Sears.GoProGold.com. Kmart's web site will be Kmart.ProGold.Com. In the end, customers will be notified of payment offered and will be give in the chance to accept or decline offer(s). If the offer(s) is not accepted, then items will be returned free of charge.

Sears Holdings operates some 2,235 jewelry departments in the United States and 1,327 Kmart stores.

Source- National Jeweler Magazine, May 18, 2010

New York--Gold prices, which touched a new high of $1,249 an ounce Thursday, are expected to head northwards on a "medium-term basis," reaching $1,338 to $1,550 levels, according to reports from Kitco and ScotiaMocatta, the global bullion banking division of the Bank of Nova Scotia.

Analysts say that even at current levels, investors in gold have already made a profit of approximately 7.92 percent, and that investor desire for physical gold will remain strong and will support higher prices.

In India, higher gold prices might prompt a pull back in consumer jewelry demand, analysts says, but with the Hindu holy day Akshaya Tritiya right around the corner, market reports also indicate that consumers have already begun purchasing large amounts of gold. Though the holy day is not until May 16, customers have been making their bookings in order to take advantage of the current price advantage. At press time, gold was trading at just under $1,240 per ounce.

According to tradition, starting a new activity or buying valuables, including gold jewelry, on the day of Akshaya Tritiya is thought to bring individuals luck and success.

Gold prices since January have primarily remained in the $1,000 and $1,100 range, but broke the $1,200 mark in early May and continue to climb.

Article courtesy of National Jeweler Magazine, dated May 13, 2010.

According to a report in National Jeweler Magazine, Blue Nile's sales grew nearly 18.7 percent for the first quarter 2010, financial results reported by the company late Thursday show.

For the first quarter ended April 4, the Seattle-based online diamond seller reported sales of $74.1 million, a record level for any non-holiday quarter in the company's 11-year history and an 18.7 percent increase from first quarter 2009.

The company recorded particularly strong growth in international sales, which increased 71.4 percent (51.8 percent on a constant-exchange-rate basis) to $9.6 million, a record level for any first quarter in the company's history.

"We are pleased with our first-quarter results, including excellent growth in sales and earnings," Blue Nile Chief Executive Officer Diane Irvine said in a news release. "Our performance reflects the strong fundamentals of our business model and our compelling consumer proposition as customers seeking high-quality products, tremendous value and an exceptional shopping experience."

The company also set a new first-quarter records for conversion rate and repeat sales, which accounted for 23 percent of total sales.

Irvine said Blue Nile witnessed strong sales growth in both the diamond engagement ring and non-engagement jewelry categories. Sales growth for non-engagement jewelry topped Blue Nile's overall sales growth rate as the company saw consumers return to more discretionary purchases as compared to a year ago, she said.

While sales increased in every price point category, the strongest growth for Blue Nile came at the high end, with purchases at price points above $25,000 soaring, according to Irvine.

"We are excited about the significant improvement we've seen in sales trends for high-end engagement [rings] and jewelry with total sales at price points above $25,000 achieving near-record Q1 levels," Irvine said during the call.

Looking ahead to 2010, Blue Nile forecasts annual sales growth of 15 percent over 2009 levels, when sales rose a modest 2.3 percent over 2008.

Who said consumers are reluctant to purchase jewelry from on-line retailers?

According to National Jeweler Magazine, in an effort to save rental costs, Tiffany and Company announced that they will be consolidating their 3 New York offices into one office building in Manhattan’s Flatiron district. The new office space will be located at 200 Fifth Ave and 23rd street. Tiffany will sublease its existing properties until the end of its lease terms, which run through 2015, but expects to recover only a portion of its rent obligations due to current market conditions.

"This is an excellent opportunity to lock in meaningful long-term savings in occupancy costs and to gain efficiencies from housing everyone in one location," Tiffany Chairman Michael Kowalski said in the release. "We are also pleased that the renovated 200 Fifth Avenue building, which recently celebrated its centennial, is expected to be designated a 'green' office building that is LEED-certified for its environmental and energy-efficient features, consistent with Tiffany's corporate sustainability philosophy."

For the lease obligations, the company anticipates recording expenses of about $30 million for the fiscal year ending Jan. 31, 2012. Additionally, Tiffany will incur expenses of about $20 million in the fiscal year ending Jan. 31, 2011, and $5 million in the fiscal year ended Jan. 31, 2012, associated with the acceleration of depreciation of property and equipment and incremental rents during the transition period.

After the relocation, the company estimates a future benefit of about $125 million over the lease term, which expires in 2026, the release states. The estimated savings are based on current rental costs and assumptions made regarding future potential rental increases at the existing locations.

See, even the Big Boys are tightening their belts.