Success With Jewelry Podcast: Episode 116 Summary
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's Journey in the Jewelry Industry
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.
The Synergy Between Designing and Selling Gems
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.
Favorite Gemstones and Current Trends
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.
Tips for Jewelry Designers on Purchasing Gemstones
Elise offers invaluable advice for designers navigating the gemstone market:
Having a Plan and Following Your Gut
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.”
Understanding Market Pricing
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.”
Importance of Trust and Authenticity
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.”
Certifications and When to Use Them
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.”
The Four Cs for Colored Gemstones
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.”
Common Misconceptions about Gemstones
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.
Lab-Grown vs. Natural Gemstones
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.”
Tips for First-Time Gemstone Buyers
Elise provides practical advice for those new to purchasing gemstones:
- Invest in a Loupe: Familiarize yourself with gemstones by closely inspecting them.
- Ask Questions: Inquire about the stone’s origin, price factors, and any inclusions.
- Set a Budget: Clearly communicate your budget to dealers to streamline the selection process.
Elise Thompson [24:48]: “Don't be afraid to ask questions. Don't be intimidated.”
Negotiation and Pricing Strategies
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.”
Additional Insights and Final Tips
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.”
How to Connect with Elise Thompson
For those interested in exploring Elise’s offerings or attending her next trunk show:
- Next Trunk Show: March 5–7 at Myron Toback Showroom, New York City
- Contact: elise@hennieli.com
- Instagram: @HennelliGems
- Etsy Store: Cabochon King
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.”
Conclusion
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.