New standards protect the reputation of Australia’s jewellery industry

Consumers forking out hundreds and thousands of dollars on jewellery will soon have an improved level of quality assurance with new Australian Standards for the jewellery industry reaching the final stages of development.
 
From 16 July 2008, interested parties are encouraged to review and comment on two draft Australian Standards for the composition and marking of gold, silver and plated jewellery.
 
Initiated by the jewellery trade, the development of the draft Standards has taken place in close consultation with stakeholders including jewellers and traders who wish to protect the reputation of Australia’s jewellery industry. 
 
Mr John Tucker, CEO of Standards Australia said the new Australian Standards will provide consumers with added peace of mind when buying jewellery and safeguard the credibility of Australia’s $2.5 billion plus jewellery industry.
 
“Currently, consumers have no relevant industry Standard for evaluating the quality of jewellery items they purchase or the accuracy of claims made by traders,” said Mr Tucker.  
 
“It can be difficult for the untrained eye to distinguish between the different levels of fineness in precious metals and gold or silver-plated articles. 
 
“Whilst the majority of jewellery traders are doing the right thing, the introduction of new industry Standards will help lift the lid on the few making and selling inferior and misleading pieces,” he said.
 
The Committee developing the new Australian Standards considered areas of public concern including
product integrity, gold quality, marking, local industry and consumer protection. 
 
The new Australian Standards will deal specifically with:    Composition and marking requirements for precious metal (gold, silver, platinum, palladium) articles; and    Composition and markings for rolled gold, gold-plated and silver-plated jewellery.
 
Both drafts have been developed in consultation with key industry stakeholders, including the industry’s
peak body, the Australian Jewellery and Gemstone Industry Council (AJGIC) which contributed $80,000 to the development of these Standards. 
 
The AJGIC represents a cross section of the jewellery and gemstone industry including the Jewellers
Association of Australia, the Gemmological Association of Australia, the Gold and Silversmiths Guild of
Australia, the National Council of Jewellery Valuers and the Diamond Guild.
 
Australian Standards set a benchmark for industry performance, ensuring products and services meet certain requirements. For the jewellery industry, the new Australian Standards provide an industry benchmark for the marking and composition of articles, giving consumers more certainty and clarity about the jewellery they are purchasing and its true value.