U.S. Industry Launches Panel on Platinum Jewelry

The Jewelers Vigilance Committee, Manufacturing Jewelers and Suppliers of America and Jewelers of America co-chaired a meeting at the JA New York Show last week to discuss Federal Trade Commission (FTC) Guidelines on marking products made wholly or in part of platinum. 

The Advisory Task Force has been set up following rising industry and consumer interest in compliance standards in platinum-based jewelry products that are either being sold or are proposed for market development.

The JVC says it has received inquiries about the implementation of FTC Guidelines on platinum, and has seen a significant increase in the number of consumer and trade complaints and inquiries regarding platinum jewelry.

The Advisory Task Force includes representatives from all sectors of the industry, including platinum providers, refiners, designers, manufacturers and retailers The Platinum Guild International, USA also attended the New York meeting.

The Task Force will develop a questionnaire for the trade to document industry practices implementing the current FTC Guides for platinum. The questionnaire will also ask whether the current Guidelines should be re-examined and on what basis. A consumer survey will also be developed to better understand consumer understanding of the term “platinum”. 

The Task Force hopes to develop both the industry questionnaire and consumer survey no later than the end of next month with the results of the survey to be compiled and provided to the FTC by mid-March 2005.

In a separate statement, the JVC said it has launched a program to evaluate its members’ websites for legal compliance and to ensure they comply with the rules and regulations applying to catalog sales and brick and mortar stores.

The JVC said the program was established after it received complaints from consumers and the jewelry trade about faulty online ads for fine jewelry.