RAPAPORT... Working with Hasenfeld-Stein cutters and gemologists, company vice president Hertz Hasenfeld created this variation on the traditional princess cut. The resulting trademarked diamond, the FireMark™ Princess Cut, offers the fire, brilliance and light performance of an ideal round brilliant. The company unveiled the new shape in the beginning of 2008 and began retail distribution in April.
PHYSICAL CHARACTERISTICS AND CUTTING ISSUESThe FireMark is distinguished by a patent-pending “double crown,” with additional and specifically designed facets and distinctive angles that enhance fire and brilliance. The stone has smaller tables — no larger than 68 percent — and depths of less than 71 percent.
The FireMark has been consistently graded “Excellent” for both polish and symmetry by the Gemological Institute of America (GIA), and “Excellent” for light performance by the Gem Certification & Assurance Lab (GCAL).
The initial launch will include diamonds from 0.70 points to about 3 carats, in F through I colors, VS1 to SI1 clarity.
The FireMark is cut from rough crystals with a yield of less than 65 percent. The diamond is sold primarily as a loose stone, although some finished jewelry, mainly solitaire rings, will also be available to qualified retailers who have signed up for the program.
MARKETS AND MARKETING
Intended as an exclusive product for independent, upscale retail jewelers nationwide, the diamond is not available on B2B or B2C websites or with any diamond listing service. Each stone comes with the trademarked logo and GIA cert number inscribed on the girdle, a GIA certificate in a customized sleeve and a customized GCAL certificate. Sales training materials, custom consumer brochures, ad slicks and counter cards are available. Geographic exclusivity is available to retailers in the program. The diamond will be promoted by direct mail and trade shows with B2C promotion through individual retailers.
PRICE AND SUPPLY ISSUESWholesale costs currently range from approximately $1,400 for a 0.70-carat, I, SI1 diamond to about $50,000 for a 3-carat, E, VS1 stone. Supply is not unlimited and will be available to committed retailers on a first-come basis.
WHAT TO LOOK FORThe FireMark features increased fire and brilliance, and has the certificates to back up the claim. The stone’s shaved corners offer increased durability. The quality of the diamond, as well as the retailer’s geographic exclusivity, will, according to Hasenfeld-Stein, help retailers distinguish their stores and the jewelry they sell, and combat reduced margins.
Hasenfeld-Stein
580 Fifth Avenue, Suite 1100
New York, New York 10036
Tel: 212.575.0290
Fax: 212.391.4597
sfeldman@hasenfeld-stein.com
hertzh@hasenfeld-stein.com
Article from the Rapaport Magazine - April 2008. To subscribe click here.