February 11, 2000
Update: GE/POL To Sell for 5% More
In an interview with Professional Jeweler, POL Managing Director Charles Meyer added both updated and amended information to a report appearing on ProfessionalJeweler.com Feb. 9. (Click here to read the previous story.)
Meyer and officials from POL parent Lazare Kaplan International and General Electric conducted the GE/POL seminar during Jewelers of America's educational program at the JA International Jewelry Show in New York City last week. Here's what's new and different:
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- POL will market its treated GE/POL diamonds at a suggested retail price approximately 5% over average retail prices of comparable non-treated diamonds, Meyer said. This is the premium for which certain jewelers in its test market study were able to sell the gems. POL says it's a good premium at which to start for its full market roll-out.
- POL will initially sell the gems to retailers at wholesale prices discounted by about 15% from comparable untreated diamond prices. This, Meyer said, is to reward jewelers who are willing to go the extra mile to spend the time explaining this new product to the public.
- The company will sell colorless, greenish and also yellow diamonds.
- Though detection indicators do appear on some GE/POL diamonds, Meyer said that these are not absolute confirmation of treatment because some natural diamonds also exhibit these indicators.
- The GE/POL treatment corrects misalignment of atom bonds in diamonds that occur due to geophysical forces that Meyer describes as "volcanic violence" as diamonds move through the earth. He also emphasized that the diamonds "spontaneously" revert to their original alignment when subjected to the GE/POL treatment.
- The GE/POL whitening treatment is only effective on Type IIa diamonds, said Meyer, not on other types as previously reported by various sources.
- by Peggy Jo Donahue