The first thing that happens when you get your earrings taken away is you have to get them back.
That’s the message that’s coming out of the Gold Coast, Australia, where diamond earring sales have dropped by 60% in just two years.
Sales dropped by 61% for the past two years, and by more than 60% for 2016, according to the Gold and Jewelry Council of Australia.
But it’s not just the earrings that are at risk.
A recent study found that about 10% of all earrings worn around the world are counterfeit, with the highest rate in China, which is the largest market for jewelry.
“If we’re going to sell them, we need to know how to spot the fake,” said Julie Bader, the Gold Council’s director of global communications.
For years, Gold Coast locals have complained about how the ring market has gone down, especially around the holiday season, when sales have been declining.
Many people have said that they can’t buy a ring for Christmas because they’re afraid to wear it in public.
It’s not a good thing to sell.
The Gold Coast has had a bad year for ring fraud in recent years.
In 2015, there were just 4,000 reported ring thefts, with almost 10,000 people charged with theft.
In 2016, there was 1,634 ring thefts reported, but only 3,973 people were charged.
Over the past four years, there have been more than 70,000 ring thefts worldwide, and there have not been a single case of a ring being stolen from the Australian Capital Territory.
According to the Australian Competition and Consumer Commission, in the first six months of 2017, there had been nearly 6,000 breaches of the Fair Trading Act, with more than 20,000 incidents reported.
There have also been more reports of fraud involving gold earrings than for any other product.
Last year, the Australian Crime Commission identified more than 4,600 ring thefts and more than 3,200 offences of theft, with a record number of cases of people being charged.
But what makes this so alarming is that most of these rings are being made by companies that are not licensed to produce the product, and so people are being taken out of their homes and placed in jail.
One of the ring thieves was a man from Sydney, who was allegedly stealing $1 million worth of gold earring rings from Sydney hotels in 2017.
He was arrested on a number of occasions and charged with conspiracy to commit burglary and possessing stolen goods.
Bader said the ring industry was being run like a mafia, and it’s causing the problems.
“There’s no control over who makes the product,” she said.
When a ring is stolen, the jewellery manufacturer has a very good reason to get rid of it, she said, and they do that by taking it to a pawnbroker or auction house, or by passing it on to other people who will take it back.
“They’re not going to be selling the jewelry, they’re going back to the dealer and reselling it to people,” she added.
This is a problem that we’re seeing in Australia, Bader said.
“It’s a very sad and tragic situation.
We have to look at what we’re doing, and we have to make sure we protect the consumer, that people are not getting ripped off.”
The Gold Council says it will help people who need earrings or earrings bracelets return the earring to their original manufacturer, and is also working to find a way to ensure that if someone steals an earring, they can get their money back.
For more information on gold ear rings, you can read more about the Gold Crowns program.