Last year we saw diamond prices go up up up and up, and then correct correct and then correct just a little bit more. Now 2012 is off and running and where are we going? Well I guess that depends on which market you are in; in some cases its off and limping. January’s DTC Sight saw downward adjustment in prices, but that was offset with less favorable assortments. At the end of the day it appears to be a wash, but some people are seeing it differently. Estimates put the Sight somewhere between $600 and $800 million, which isn’t small by historical standards until you consider how much goods, have appreciated in price over the last few years. The bottom line there is that there are less goods on the market. It looks like the powers that be are doing what they can to maintain stability in the market. That’s a good thing.

One bright spot for traders in 2011 was the emerging markets in Asia. But China has cooled off and India has just imposed an import duty on polished diamonds. It’s complicated stuff but suffice it to say it hurts liquidity, which results in downward pressure on prices.

And now it’s time once again for a game that we played a lot last year called "Let’s wait and see what the Hong Kong show is like" as though that will set the stage for pricing for the next few months. Perhaps but I prefer to live in the here and now. Buying a diamond today because you think it will go up in price in the future is dangerous stuff. Things are uncertain enough because of precious metal prices and some people want to speculate on diamonds!! I don’t know about you but I prefer to sleep at night.

Anyway as my hero Sargent Esterhouse used to say "Hey, let’s be careful out there".

Stanley Zale
Vice President – Diamonds & Gemstones
Stuller.com

As you start to think about all the New Years’ Resolutions you’ve made, don’t get bogged down with "cants" because there is help!

New Year's Eve has always been a time for looking back to the past, and more importantly, a time for looking forward to the coming year. It's a time to reflect on the changes we want, or more often, need to make and resolve to follow through on those changes. Spending more time with friends/family and getting physically fit are two of the most popular resolutions. A third one on many people's "wish" list is to get out of debt.

If you support your professional trade organization(s), they often provide member benefit programs that provide discounts. Discounts that can save your business money! You're missing lots of opportunities to get out of debt if you’re not supporting your professional trade association AND taking advantage of the numerous discount programs available to you as a member. Why not try something new?!

Number 8 on the top 10 list of New Year’s Resolutions is to learn something new. As you begin to mark your 2012 calendars, you can check this resolution off when you commit to attending industry trade shows and educational sessions. Retailers in the Midwest are encouraged to mark their calendars for the 2012 Mid-America Jewelry Show on August 18-19 with educational session on August 17. Educational sessions will be taught by well-known industry experts willing to share a wealth of knowledge. Members receive all educational sessions for free and non-members pay just $10 per session. Not only are you saving money with these low cost sessions, you are also increasing your professional knowledge.

A popular, non-selfish New Year's resolution is to get more involved. Volunteerism can take many forms. If you’re ready to get more involved, its time to join a committee or run for a board position with your professional organization. Commit today to volunteering your time or your expertise to help your profession and peers grow. At the Mid-America Jewelers Association for example, writers of industry news are always sought after. Or maybe you are an expert in a particular field; consider volunteering to be an educational session instructor. Maybe you’ve mastered a skill that others would find helpful. Write an article and submit it to your local association for publication. As the army of volunteers grows, an association becomes more vibrant, effective and valuable to the profession. And every association is willing to take what you can give – no matter how large or small your commitment may seem.

So if time has passed and you don’t think you can keep your New Year’s resolutions, reconsider them today. It may be easier than you thought. Fulfilling your resolutions will not only give you self-satisfaction, but they can also help your business and your professional organization to grow and prosper.