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Jewelry Industry: Is Government Regulation in Our Future
October 31, 2006

Are we headed for more government regulation of the jewelry industry? Maybe, if we can't get things under control. It wasn't so long ago that the Federal Trade Commission Guidelines for the jewelry business and Truth In Advertising rules were a major deal, with companies planning their marketing thrusts over what could and could not be said and what specific nomenclature could be used. It was also felt that we are better off as a self-regulated industry. But it seems that the world of the Internet is fast changing the parameters of controlling who can say what about their products.  

Today there are millions of listings and web pages accessible to the trade and consumer with countless inaccuracies and false statements. Many of the perpetrators are blissfully ignorant of their infractions and others find the web a perfect place to "stretch the truth" at will. This problem is growing exponentially with the web. The trade at present has no way of reviewing/regulating/controlling all of these Internet-based communications, and it is only a matter of time before the government steps in as a response to a rising tide of consumer complaints about being ripped off to gain control of the situation. 
 
What can/should we do as an industry about this growing problem? Educating the industry about what is OK and what is not OK to put in any communicatiuons regarding jewelry and related products, online or otherwise, would be a good start, with an emphasis on the fact that FTC rules and Guidelines apply online the same as they do offline. Any additional thoughts on this subject would be great.

Posted by Howard Hauben on October 31, 2006 | Comments (2)


November 26, 2007
In response to: Jewelry Industry: Is Government Regulation in Our Future
Mervyn Cohn commented:

First let's convince the trade press that it is to their best interest to find ways of publicizing the violators violations and not cover them up or ignore them because they buy ads. And it also couldn't hurt if we stopped buying from their suppliers.




November 26, 2007
In response to: Jewelry Industry: Is Government Regulation in Our Future
Mervyn Cohn commented:

A new Standard Measure for a Diamonds Brilliance and Sparkle eCS = 1.000 For the past several years, the major Gemological Laboratories have labored to codify the third “C” cut. Since the cut is the dominant factor that determines a diamonds Sparkle and brilliance it was considered an important step in the reporting of a diamonds quality. The two major players in this field have each developed their own vocabulary to describe this quality. The G.I.A. (Gemological Institute of America) and the A.G.S (American Gem Society) have both established systems after many years of scientific research and investigation. However it seems after comparative study that there are discrepancies between them. eCS = 1.000 Based on a formula that calculates the proximity of the subject diamonds geometry, including all shapes to the Tolkosky IDEAL CUT and produces a numerical result eCS becomes the common denominator between all systems, which report the “cut” quality of a diamond.





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