Trade Resources

February 13, 2018 – Hoover & Strong and Polygon announced today a new partnership in order to offer Hoover & Strong’s Harmony Diamond Auctions to Polygon members directly through the Polygon platform. The auctions are ideal for retail jewelers and pawn brokers who wish to sell secondary market/OTC goods, or for any seller to move diamond inventory, and is only accessible to members of the trade. Polygon members are pre-qualified to participate, and can access the auctions to bid or list items after a quick one-step registration.

It seems like everyone is partnering with celebrities to launch jewelry brands these days, but the latest iteration of this trend is a bit out of the ordinary: Dell Computer has partnered with actress Nikki Reed (of Twilight fame) to launch a line of cufflinks, hoop earrings and rings made from recycled gold taken from the motherboards of old Dell computers.

In the last year, few subjects have captivated public attention in the way that cryptocurrencies have. The most popular digital currency, bitcoin, has seen its value skyrocket to new heights in recent months, despite its notorious volatility. Propelled by increasing public awareness and a newfound willingness by established financial institutions and authorities to take cryptocurrencies seriously, rather than dismissing them as a fad, bitcoin and its many cousins offer us a glimpse into the future of money.  



Yet despite bitcoin's steady progression into the public consciousness, if not yet the mainstream retail sector, many questions remain regarding cryptocurrencies' viability as a practical tool for trade: Should the average retailer start accepting bitcoin? If so, how can they securely exchange their bitcoin holdings for government-backed currency? What are the financial regulations surrounding cryptocurrencies? Will the volatility of these new currencies ever become manageable?



The answers to these questions will ultimately determine if bitcoin and other cryptocurrencies become widely-accepted forms of payment, or if they end up going the way of the tulip bulb. But regardless of what the future holds for crypto, many retailers still want to know if they should start accepting bitcoin today. With that in mind, here’s what retailers need to know about cryptocurrencies.

From the rise of online retail giant Amazon, to a proliferation of new tools, apps and services meant to help brick-and-mortar retailers enter the online era, retailers can’t help but be aware that online shopping is transforming retailing as we know it. But beyond recognizing a general feeling of transformation, what are the hard numbers saying about online retail – in particular, who’s buying what and when and how they are making their purchases?

Global diamond conglomerate De Beers has decided to embrace diamond tracking and supply chain transparency with a plan to create what it says will be an “inclusive” platform built on blockchain, the innovative technology that acts as a public ledger for transactions made using cryptocurrencies such as Bitcoin.

International diamond conglomerate De Beers has announced that it will close the Victor mine, the first and only diamond mine in the Canadian province of Ontario, in 2019.

While social media marketing is a relatively new strategy for many brick-and-mortar retail jewelers, platforms including Instagram, Pinterest and Youtube – alongside the ubiquitous Facebook and Twitter – have proven to be effective drivers of engagement and sales for chain retailers and boutique jewelers in recent years.

Retailers, beware: Using the Tiffany name to sell any jewelry other than official Tiffany & Co. products could land you in hot water.

Two of India's biggest diamond manufacturers went bankrupt in August, putting hundreds out of work and fostering uncertainty about the future of the diamond industry in that country.

The two largest TV shopping networks have become one. Liberty Interactive, parent company of TV shopping giant QVC, has purchased the Home Shopping Network for $2.1 billion in stock.