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Pastimes : Austrian Economics, a lens on everyday reality

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To: Don Lloyd who wrote (1)12/4/2001 5:15:11 AM
From: Don Lloyd   of 445
 
"...SANTA ROSA, Calif., Dec. 4 /PRNewswire/ --
To show the vast improvement in brilliance
when diamonds are cut using high-precision technology, 8Star Diamond Co.
is sending a $1-million diamond on tour to demonstrate the success of its
new cutting method.

(Photo: newscom.com
) To prove the 8Star approach benefits any diamond, the company bought
a $1-million 15-carat diamond given the highest ratings for color, clarity
and cutting by the Gemological Institute of America and is exhibiting the
much-improved 13.41-carat recut, now the "American Star," in its 45 franchise
stores nationwide. See www.eightstar.com. "When it comes to diamonds,
it isn't size that matters. It's sizzle," says Richard von Sternberg,
8Star's president. "Most diamonds would have to lose at least 15% of their
weight to become as beautiful as ours. Since we believe consumers should
pay only for beauty, we cut only for beauty."

Using an exclusive light-tracking
instrument called a Firescope(TM), 8Star cutters align facets so precisely
their diamonds achieve the highest brilliance possible -- making even the
tiniest engagement stone blaze with light.

To most of 8Star's competitors
who cut for bulk not beauty, sacrificing 10% of a giant jewel's weight
is a catastrophic loss. But von Sternberg sees the loss as a gain.

The American Star took six weeks to recut after ten months of planning.
On average, however, 8Stars require 32 hours to complete -- still a long
time compared to 8 hours for other fine diamonds. But cutting for beauty
takes time.

"One reason for the slow grind is that 8Star cutters consult
with the Firescope at every stage of work," von Sternberg says. "That
usually means 200 Firescope checks. In the case of the American Star,
I lost count at 500."

Without a Firescope, diamond cutting is guesswork,
according to von Sternberg. "With it, our cutters can look inside a diamond
and fix problems fatal to diamond beauty other cutters never see."

The
Firescope isn't only a guidance tool for cutters. It's a quality assurance
tool for consumers. When a diamond's facets are aligned, they make a distinctive
8-rayed pattern called an "8star." This pattern serves as visual proof
that a diamond has reached what von Sternberg calls "8Star's norm of perfection."..."

Regards, Don
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