
Welcome to the Success With Jewelry podcast, hosted by Laryssa Wirstiuk and Liz Kantner, two experts passionate about helping independent jewelry artists thrive. Welcome to episode #116! In this episode, we’re joined by Elise Thompson, the talented...
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Larissa
Welcome to the Success with Jewelry podcast where we invite you inside our conversations about business success in marketing for jewelry designers and entrepreneurs.
Liz
We're Larissa and Liz, jewelry marketing experts with a combined 16 years of experience in jewelry marketing and proven track records and helping jewelry brands meet their goals. When you listen to or watch this podcast, you get an intimate and exclusive peek behind the curtain of all the things you wish you could know about earning success in this industry.
Larissa
Welcome to episode 116. In this episode, we're joined by Elise Thompson, the talented designer behind Meja Jewelry, founder of Space 85 and owner of Henieli International. Elise's family has been in the gemstone business for over 40 years, dealing in rare and beautiful gems. In our conversation, we'll explore how to build confidence when purchasing gemstones, drawing on Elisa's extensive experience and insights. For our bonus content, we'll dive into the crucial topic of identifying red flags when vetting a gem dealer, knowledge every jewelry professional should have. If you're looking to gain access to this exclusive content, visit successwithjewelry.com Elise and Larissa let's get into it.
Liz
Let's do it.
Larissa
Hey Elise, thanks for joining us.
Elise Thompson
Hi, thanks for having me. This is my first podcast, so I'm really excited.
Larissa
Yay. We love that we're going to be like the podcast that interviews people who have never been interviewed on a podcast before. That's what we'll be known for.
Elise Thompson
Yeah, it's really fun. Thanks for having me.
Larissa
Of course. We'd love to hear a little bit about your journey in the jewelry industry.
Elise Thompson
Sure. So my gemstone company's name is Henieli International and we're based out of New York. I grew up in the industry. My parents started it's a wholesale gemstone industry and they started it in 1982 in New York City. So I was always surrounded by Jeffs. I remember being dazzled by my mom's jewelry when I was younger and visiting the office and looking at all the stones. I started working with my dad around 2005, 2006 full time and within from then till now. That's when I also started making my own jewelry, which is Maya Jewelry. And I started an online curated collection of designers called Space 85. That's space85.com for Hanieli International. We don't have an office in the city anymore, but I always go to the city once or twice a week and I deliver stones to my clients and I ship all over the country. And now I started to do small Trunk shows. Last year I started doing these small trunk shows at Myron Toback. And if you don't know who they are, they sell findings for jewelers. They've also been in the business for like 50 years. So I'm doing another trunk show there March 5th through 7th. So if you're in the New York area, please stop by. I love to show everyone and talk about stones. Yeah. So we've been in the business for 42 years. I have a lot of relationships with designers and retailers and other gemstone dealers and cutters. I started like, I guess being introduced into that world when I was about 16 and I was helping my parents at trade shows, like the agta show in Tucson. And that just like changed everything. Being a young person and being exposed to all of that. It's like being in a museum for a week. You're exposed to, you know, all different types of gemstones and dinosaur bones and fossils and just like, you know, you get a huge amethyst geodes and, you know, having access to all of that in one place and seeing that as a young person is really magical. So I think that's how, like, how what really got me so passionate about stones. I didn't initially start working directly in the business. I was in Internet marketing for a while. And then I got my GG, my gemological degree in 2005. Ish. Like the end of 2005, I studied at GIA's campus in Florence, Italy. I quit my job and I just lived in Italy for a year. And that was also life changing. To study gems and be in Florence, like the art history capital of the world, is pretty incredible. Um, and so after that is when I started working with my dad full time. And then so I had like the technical experience of working with gemstones and studying them under a microscope. And then I learned all of the practical knowledge from my dad, like working with the gems day to day and having him teach me.
Liz
Did you have in mind that you wanted to work with him and that's kind of why you went down this path, or did it evolve, like, over time?
Elise Thompson
I, I always wanted to work with him, but my parents never let me. Oh, no, no, you can't do this. You have to go into finance. You have to do other things, you know. And then finally I was just like, please, please, dad, can I please work with you? And he, they, they gave in. And that was so funny at the end. Yeah. So I love that. Yeah, it was a good, it was a fun journey.
Larissa
That's amazing. How has, how has those two things helped each other? Like, one, like, knowing about gemstones and pursuing jewelry design. And also, how has, like, being a jewelry designer helped selling gems?
Elise Thompson
Yeah, I. They definitely work hand in hand, I think, from a design perspective. So when I'm designing, I'm drawn to color first and then the shape and the cut. And I've. And I. I love inclusions, too, but I also appreciate very clean stones because that could be very rare. So you could have, like, a completely clean rubellite, which is extremely rare and special. But inclusions can be just as special too. For example, like, you can have a stone that has, like, an inclusion in it that looks like a rainbow. Moonstones adulerescence is caused by inclusion. So inclusions are just very magical properties of a gemstone, especially if it's in a cabochon. Like, I love cabs. And so with Henyelli, we were famous for cabochons, which. And we still are. And then sometimes I'll design around the stone first. And always that usually happens when I'm doing a custom project, too, where we'll design around the stone first and then the type of jewelry that it'll become is the second factor. And then in terms of designing a collection, I'm really bad at designing collections, like, at one time. So I like to jump around and I'll, you know, want to use this gemstone for one thing and that gemstone for another thing. So I have a hard time staying within the framework of a cohesive collection. But eventually, over time, I can kind of put pieces together that look like they're a part of the same collection. And I realized that that's just the way I work, and that's okay, I think.
Larissa
Yeah. I mean, it always comes through, like, just knowing you and knowing your. Your different collections. It always comes through in telling a strong story.
Elise Thompson
I'm glad that it comes through.
Larissa
Let's talk more about gemstones. I'm interested to hear about your favorite gemstones and then your mom's favorite gemstones and kind of what you were most surrounded by growing up. And then also any trends you're seeing in the market right now.
Elise Thompson
Sure. So my favorite gemstones are mandarin garnet, which is like this ring. It's like. Like that really orange, bright orange garnet color and savorite garnet and mint green tourmaline. That was my dad's favorite stone. Tourmalines in general, are our favorite stones. And cabochons, just because, I mean, I think, like, cabochons just have this aura about them. They just have so much character. And it can be a tiny 3 millimeter stone that just sucks you in. You know, it could just be bright, bright savorite green and pop. And then the bigger the stone, the more inclusions it has. So it could just be more interesting. And in terms of trends, I'm looking forward to going to Tucson next week to see what the trends are. But I think tourmaline is a big, you know, is has been a big trend and I think it'll remain that way. Paraiba is really hot. Garnets, like grape garnet, like purple garnet, fancy colored garnets. I think like I love fancy color sapphires. So that can mean like purples and greens and like off colored kind of peachy colors. I think it'll be interesting to see if like the smoky color comes back this year because of like Pantone's mocha mousse. So like smoky quartz or smoky topaz brown tourmaline, like these off color tourmalines are becoming more popular. So we'll see. I'll have more to report after I go to Tucson too.
Larissa
Yeah, let us know. But mandarin garnet's one I've been seeing a lot of. And then like Paraiba and like mint colored tourmalines is something I've been seeing a lot. And then, you know, I'm not sure if it's like the press or what people are actually buying, but like the, the mocha mousse got like the brown color, the rich color.
Elise Thompson
Yeah, right. And I'm curious to see if like that will just make it more popular because I don't know if that it has really been that popular, that color so far. I could be wrong, but we'll see.
Liz
Do you sell gemstones at True sun or you're going to buy?
Elise Thompson
I'm going there this year to observe, to learn, to like reignite my contacts to buy something if I see it. I don't sell there anymore. We used to exhibit at AGTA for over 30 years, but I haven't done that in a while. It's more fun to buy, I'm sure, being on the other side of the booth.
Liz
Are there any specific things you're looking for this year? Are you just looking for some interesting stuff that stands out to you?
Elise Thompson
I'm looking for a very rare stone called cerulerite and it comes in bead form. And I saw it last year and I was so intrigued by it and I didn't buy it. And I've been thinking about it all year. So this year I'm Gonna try to buy some their beads. I love working with beads in my jewelry, so it's just something new that I've never worked with before.
Liz
I'm looking it up because I have never heard of it before.
Elise Thompson
It's kind of like a spotted blue. A little deeper color than a blue opal, but it has, like, interesting coloration and patterns.
Larissa
We. I feel like Larissa and I have been learning so much because we chatted with Alyssa for tips about Tucson, and then we chat it with. And this episode's coming out after your episode, but with Monica Stevenson from ANSA Gems, and. Yeah. And so I feel like we're learning a lot about gems recently.
Elise Thompson
Yeah. Fantastic.
Liz
And it's cool that you can then bring that to your audience, because I'm assuming if you were to buy that, you would sell that at retail.
Elise Thompson
Right, right, right. Because I'm going to make a piece of jewelry from it. Yeah. I won't sell it as. As a Hennelli piece, but that'll be for May jewelry.
Larissa
So let's get into this for designers, because I think that, you know, people come into the industry from a lot of different ways. Like, they, you know, some designers come from a love of design, some come from a love of gemstones, and some, you know, just love metalsmithing. I feel like there's a lot of ways to get here. But for the designers who aren't as familiar with gemstones, what are some key tips or, like, you know, key factors to consider when you're thinking about buying stones?
Elise Thompson
Sure. I think the first step is you have to have an idea of what you're looking for or have a loose plan, because without it, you can easily feel overwhelmed, or you can do the opposite and get carried away and buy a lot of things that you don't end up using. But when all else fails, I think you just go with your gut. If you love it, someone else will love it too. And if you don't buy what you love at the moment, then you might not ever see it again. I always find that with the gemstones that I love the most and I'm most passionate about, those are the ones that I tend to sell first. And they don't have to be the most expensive or rare stones. I can get excited about, you know, a cool inclusion about in a deep blue aquamarine cab that has a rainbow inclusion or cool pattern in a watermelon tourmaline, and then that passion will transfer to the client. Another important thing to consider is that sometimes if something is too good to be true, it usually is. And so what that means is that if a stone is too cheap but it looks beautiful, something like it's just too good to be true. How can this, you know, perfect specimen be this price? Something is off. So that's why experience is important and it's important to ask questions. Don't be afraid to ask questions. Ask a lot of questions. And it's important to feel comfortable with the person who you're buying from.
Liz
I have a question, follow up question about that too good to be true thing. So like I've never been to Tucson, but at JCK they have the like agta section. And obviously not a jewelry designer, but I love to look and I'm like shopping for myself sometimes and I have no idea like how much things should be or what is a good price or what is expensive. And that part feels very overwhelming to me. Do you have advice about how to get up to speed on like market pricing?
Elise Thompson
Yeah, well, market pricing, it just comes with experience and you have to just ask questions and get a range. So know that you know, this type of material, let's say like light pale amethyst should cost between, you know, $4 and $8 a carat and then medium will cost between 8 and $12 a carat and then fine might cost between 12 and $24 a carat and up. And then within that range, you know, then for cabs or for pieces with inclusions, the price fluctuates. So you just have to educate yourself and ask a lot of questions so that you can gauge what the market value is. And prices always change too. They're not stable. They will always change because of a political condition in a certain country or because of demand, things are always changing.
Larissa
I think something that's interesting about you selling gemstones and I've heard this from designers in stay gold who have purchased from you. Like just the trust factor. Like oh, I purchased from Elise because I trust her. Like I wasn't able to go to the trunk show in New York because I'm not local, but she sent pictures and I trust, you know, because I know her, I trust her kind of thing. And I think that's such an important thing. Like that can be used across any aspect of a business, especially in selling fine goods like jewelry or gemstones that like knowing the person you're buying from is so important.
Elise Thompson
It is, it's so important. And I think like, and then, you know, for first time buyers, they don't know the person who they're buying from. So that's why Feeling comfortable with that person that you're buying from is really important because you know, you can get a, an aura from someone and you could just know, you know, I think that's important.
Larissa
Should designers be like looking for like certifications or authenticate off what, how do you say, authentication?
Elise Thompson
Yeah, yeah.
Larissa
Should designers be looking for like certification or authentication?
Elise Thompson
Did I say that wrong again? No, it's right. It's right. Authentication. Yeah, it's not necessary. It depends on what stones you need it for. So for example, you might want to cert, it's, we call it assert in the industry for an unheated sapphire, for example, that is an investment. So you might want to have a cert for that. So more important stones, stones that you're going to spend more money on that you want verified, could have assert, but not every stone will have a cert. You know, like it doesn't make sense to have a hundred dollar cert for a $25 stone, you know, so prices also range for certs. So if you want an origin report that will cost more money because the stone has to have, you know, go under certain testing. And then you can also get discounts on certs. Like if you submit stones in bulk that you want sorted, then it'll be lower cost. But I know that some, some companies will issue like little credit card certs and those are cheaper than like an in depth, you know, paper cert. So it depends.
Larissa
Yeah, interesting. And I guess sometimes the end consumer might ask for that and not quite understanding what that is.
Elise Thompson
Yeah, yeah. And so that's why it's important that you know, you as the designer or the retailer, you educate them so that they understand.
Larissa
Do you? So when it comes to like the four Cs, which I feel like a lot of people have heard, whether they're like in the industry or not, like that's kind of like where the knowledge sometimes stops for people, I think, like cut, cut, color, clarity and carrot. Is that for all color gems or is that like just a diamond thing?
Elise Thompson
It's a diamond thing. The four Cs are used in diamond grading, but you can definitely consider those when you're buying colored stones. So for colored stones, obviously the most important C is color because that's what you're looking for. And then your budget for that stone will determine the size and the clarity. So it will determine the carat and the clarity that you can afford. And cut is important too, because you want a well cut stone in order for the stone to have the maximum amount of brilliance, you don't want to overpay for stones that have big bellies and especially in sapphires. So the bulk of the weight would be in the pavilion. And I can talk about that more in the bonus content. And then on the other hand, some designers might want flat stones. So it all depends on, on your preference. Some people prefer shallower cut stones. Stones.
Larissa
Are there any common misconceptions or myths about gemstones you want to point out?
Elise Thompson
Yes, definitely. I think a huge misconception is that colored gemstones are cheap and not rare. And it is so far from the truth because there are colored stones like alexandrite or savorite or a mandarin garnet or a red beryl or paraiba that are so much more rare than any diamond. And there's collector stones like benitoite is a collector stone that's found in California. And these stones are way more rare than diamonds. But the end consumer has no idea what these stones are or even, you know, really beautiful tourmalines are hard to come by. You know, everything is becoming increasingly more rare. And I think it's important to educate the consumer about colored stones and because I think they're way more interesting than diamonds too.
Liz
Have lab grown colored gems affected the natural market at all? And is there any risk when someone's shopping for gems that they might accidentally buy something lab grown that they thought was natural?
Elise Thompson
Yeah, I don't think it's affected the colored stone market because we've always had colored lab grown stones and there are companies that make them, that have been making them. But there's always a risk that you could buy something that's fake. Obviously, that's why trust is important and knowing who you're buying from is important.
Larissa
In terms of tips for first time buyers, what should they be asking for or looking for?
Elise Thompson
I think if you can invest in a loop so you always have a loop handy and inspect the stones that you have so you can become familiar with what they look like and what they feel like. And when you're going shopping, bring your loop and look at the stones. Don't be afraid to ask questions. I think it's, it's okay to ask why a stone is the price that it is, because price can depend on so many factors like market value, when the stone was purchased, the rarity of the stone, if it has inclusions, how well cut it is, when and where it was cut. So I think, yeah, just don't be afraid to ask questions. Don't be intimidated.
Larissa
I love that. And Larissa asked a couple questions about pricing like, how. Any other tips about. Like, how do you know that you're not overpaying? And it's. Is buying gemstones a place where you can negotiate?
Elise Thompson
Yeah. Again, like, educate yourself and know market value so that you know if you're overpaying or not. And what was the second part of your question? Sorry.
Larissa
Can you negotiate?
Elise Thompson
Yes. Can you negotiate? Sure, you can negotiate, but be respectful about it. I'm okay with people politely asking for a discount. I'm always like, if I can make it work, I make it work. But sometimes margins are just too, too thin. And if there really is no room, then, you know, then there is no room. But it's never, never hurts to ask.
Larissa
This is great. Any other tips you want to share?
Elise Thompson
Any other tips I want to.
Larissa
We missed. Did you take notes on anything that we missed?
Elise Thompson
I did. Can I go through it for a second and I'll. Oh, yeah. So when. When you're looking, when you're. When you're buying stones, if you have a budget, it's important to let the dealer know so that they can steer you in the right direction. I find I can help people better if I know their budget and what size and colors they're looking for, and then I can narrow down the search for them, and then it'll end up in a success. Like, you'll find what you're looking for. So don't be afraid to let them know your budget, no matter how small it is, no matter, you know, how big it is. And the more you know about the stone, the better. So definitely you can ask the dealer the origin of the stone, and sometimes they might not know when or where it was mined because it could be from old stock. And that's okay because there's a lot of stones out there that are on the market that need to be consumed so that we can make room for, like, newer, more ethical stones. So I think definitely always, you know, going to back to the beginning is always ask, ask questions.
Larissa
Well, Elise, thanks for being here. How can people find you if they want to come to your next trunk show?
Elise Thompson
Yes. So my next trunk show will be March 5th through March 7th, and it will be at the Myron Toback showroom in New York City. You can contact me at elise E-L-I s e h e n I e l I.com or find me on Instagram at Hennelli Gems. Also have an ebay store. Not an ebay store, sorry, an Etsy store. An Etsy shop for gemstones. It has, like, some of our inventory. Not all of it, but you can get an idea of what types of stones we carry. And that's called Cabochon King. And the name comes from when my dad started the business, he was known for cabochons, so they dubbed him the Cabochon King.
Larissa
I love it. Thanks so much for being here.
Elise Thompson
Great.
Larissa
All right. Are you new to buying gems? Let us know. Visit successwithjewelry.com and if you love the podcast, we'd love to hear from you. Send us a message or leave us a review. Thanks for being a part of the Success with Jewelry community.
Title: Success With Jewelry
Host/Authors: Laryssa Wirstiuk and Liz Kantner
Guest: Elise Thompson, Jewelry Designer and Gemstone Expert
Release Date: February 3, 2025
In Episode 116 of the Success With Jewelry podcast, hosts Laryssa Wirstiuk and Liz Kantner engage in an insightful conversation with Elise Thompson, a seasoned jewelry designer and gemstone expert. Elise brings her extensive experience from Henieli International, a family-run gemstone business with over four decades in the industry, and her endeavors with Maya Jewelry and Space 85. This episode delves into Elise's journey, expert tips on purchasing gemstones, identifying red flags when vetting gem dealers, and current trends in the gemstone market.
Elise Thompson shares her rich background in the jewelry industry, highlighting the influence of her family's gemstone business, Henieli International, established in New York City in 1982. Growing up surrounded by rare gems and assisting at trade shows like AGTA in Tucson ignited her passion for gemstones from a young age.
Elise Thompson [01:38]: “I was always surrounded by gems. I remember being dazzled by my mom's jewelry when I was younger and visiting the office and looking at all the stones.”
Despite initial resistance from her parents to join the family business, Elise pursued her passion by obtaining a gemological degree from GIA in Florence, Italy, and eventually working full-time with her father from 2005 onwards. This blend of formal education and hands-on experience laid the foundation for her successful ventures in jewelry design and gemstone retail.
Elise emphasizes the harmonious relationship between jewelry design and gemstone sales. Her design process is deeply influenced by the gemstones themselves, prioritizing color, shape, and cut.
Elise Thompson [06:26]: “I’m drawn to color first and then the shape and the cut. I love inclusions, too, but I also appreciate very clean stones because that could be very rare and special.”
This approach ensures that each piece of jewelry is not only aesthetically pleasing but also showcases the unique characteristics of the gemstones, whether they exhibit captivating inclusions or pristine clarity.
Elise discusses her favorite gemstones, including mandarin garnet, savorite garnet, and mint green tourmaline. She highlights the enduring popularity of tourmalines and the rise of trendy stones like paraiba and fancy-colored sapphires. Additionally, Elise anticipates a resurgence of smoky gemstones, inspired by Pantone's mocha mousse trend.
Elise Thompson [08:56]: “Tourmalines in general are our favorite stones. And cabochons, just because they have so much character.”
Elise is particularly excited about exploring cerulerite, a rare stone she plans to incorporate into her May jewelry collection.
Elise offers invaluable advice for designers navigating the gemstone market:
Start with a clear idea or loose plan to avoid feeling overwhelmed and prevent impulsive purchases. Trust your instincts—if you love a gemstone, it's likely to resonate with your clients as well.
Elise Thompson [14:25]: “If you love it, someone else will love it too. And if you don't buy what you love at the moment, then you might not ever see it again.”
Gaining a solid understanding of market pricing comes with experience. Elise advises designers to educate themselves on price ranges based on factors like carat weight and clarity.
Elise Thompson [16:49]: “Know that a light pale amethyst should cost between $4 and $8 a carat and then medium will cost between $8 and $12 a carat.”
Building trust with reputable dealers is crucial. Feeling comfortable and confident in your dealer ensures authenticity and reduces the risk of purchasing counterfeit or mislabeled stones.
Elise Thompson [18:29]: “Feeling comfortable with that person that you're buying from is really important because you know, you can get an aura from someone and you could just know.”
While not always necessary, certifications are important for investment-grade stones. Designers should assess whether a stone warrants certification based on its value and intended use.
Elise Thompson [19:13]: “More important stones that you're going to spend more money on that you want verified could have a certificate, but not every stone will have a cert.”
Although the Four Cs—cut, color, clarity, and carat—are primarily used for diamonds, they can also apply to colored gemstones, with color being the most critical factor.
Elise Thompson [21:24]: “For colored stones, obviously the most important C is color because that's what you're looking for.”
Elise addresses the prevalent misconception that colored gemstones are inexpensive and not as rare as diamonds. In reality, many colored stones like alexandrite, savorite, and paraiba garnet are rarer and more valuable than diamonds.
Elise Thompson [22:42]: “A huge misconception is that colored gemstones are cheap and not rare. It is so far from the truth because there are colored stones that are so much more rare than any diamond.”
Educating consumers about the rarity and beauty of colored gemstones is essential for elevating their appreciation and understanding.
While lab-grown colored gemstones exist, Elise asserts that they have not significantly impacted the natural gemstone market. However, there is always a risk of inadvertently purchasing lab-grown stones, underscoring the importance of buying from trusted sources.
Elise Thompson [24:06]: “There's always a risk that you could buy something that's fake. Obviously, that's why trust is important and knowing who you're buying from is important.”
Elise provides practical advice for those new to purchasing gemstones:
Elise Thompson [24:48]: “Don't be afraid to ask questions. Don't be intimidated.”
Understanding market values enables designers to negotiate effectively and ensure they are not overpaying for gemstones. Elise encourages respectful negotiations, acknowledging that while some margins are tight, it's always worthwhile to ask.
Elise Thompson [25:59]: “Yes, you can negotiate, but be respectful about it. I'm always like, if I can make it work, I make it work.”
Elise emphasizes transparency and open communication with dealers about budget and preferences. Knowing the origin and ethical considerations of gemstones can further enhance the purchasing experience.
Elise Thompson [26:53]: “Let the dealer know your budget so that they can steer you in the right direction.”
For those interested in exploring Elise’s offerings or attending her next trunk show:
Elise Thompson [28:32]: “You can contact me at elise@hennieli.com or find me on Instagram at Hennelli Gems. Also have an Etsy shop for gemstones called Cabochon King.”
Episode 116 of the Success With Jewelry podcast offers a wealth of knowledge for jewelry designers and gemstone enthusiasts alike. Elise Thompson’s expertise and candid insights provide valuable guidance on navigating the gemstone market, building trust with suppliers, and creating compelling jewelry designs. Whether you're a seasoned professional or a newcomer, this episode equips you with the tools to achieve success in the vibrant world of jewelry and gemstones.
For more detailed discussions and exclusive content, visit successwithjewelry.com.