10 Years Ago in Jeweller: August 2008

Nationwide to release price book

The story: A slowing economy and continuing gold price hikes have prompted Nationwide Jewellers to release version three of its Repair Price Book at the JAA Australian Jewellery Fair in September. The price book includes recommended retail on most jewellery and watch repair services.

“With the slowing economy, there will be a surge in demand for repairs of all types of goods, including jewellery and watches,” managing director Colin Pocklington said. “So, jewellers need to ensure that their prices reflect current cost factors.”  

Precious metal standards update

The story: Representatives from the jewellery trade are currently working with Standards Australia (SA) to compile new precious metal and plating standards for the industry. Drafts of these standards are now complete. 

The committee has already attended four meetings to devise two separate standards, according to committee member Peter Beck, CEO of supplier Peter W Beck and representative of the Australian Jewellery and Gemstones Council. The new standards – Australian Standard – Requirements for rolled gold and plated jewellery; Australian Standard – Jewellery-fineness of precious metal alloys – will cover all precious metals and their alloys, as well as rolled gold, plating thicknesses and so forth. 

More DCLA questions

The story: Questions from Jeweller about the DCLA-controlled website that purports “to help the diamond consumer locate reputable Australian diamond jewellers dedicated to the fair, ethical, and honest sale of diamonds and diamond jewellery” have not been answered by DCLA directors.

After Jeweller published a story in its March issue about www.independentlycertifieddiamonds.com, (ICD) DCLA directors wrote to the magazine complaining about the accuracy of the story and also lodged a formal complaint with the Australian Press Council. Just prior to the story being published, the ICD website underwent a massive redesign. Jeweller wrote to DCLA director Roy Cohen but Cohen declined to answer.

Better trade practices laws to benefit small business The story: Small businesses will soon enjoy what has been dubbed the greatest protection in 30 years against predatory pricing and misuse of market power as the result of proposed changes to the Trade Practices Act. Speaking at the National Small Business Summit in Sydney, Australian ACCC chairman, Graeme Samuel said the government was now preparing to remove blockages in the law that would allow the regulator to take more action on behalf of small businesses. According to an ACCC release, the regulator has been actively working to assist small business on a number of fronts from protecting them from cartels, bullying conduct, misleading conduct and scams (false business opportunities). Samuel said the ACCC took a holistic approach that recognised that small businesses are also consumers. “Protecting their welfare means dealing with a number of issues, from scams to cartels, to bullying by other businesses,” he said.