Education and disclosure top priority for New York manufacturer

By Tara J. McKenna

Joseph Mardkha, president of ColorMasters Precious Jewelry, was barely out of his teens when he was introduced to the colored stone industry in 1980. Even though the 20-year-old had a business degree from New York’s C.W. Post College and was ready to start a career, he needed something to spark his passion.

“I had some friends who were colored stone dealers and they invited me to go along with them to India. I figured I’d try it and see how I liked it,” Mardkha said. “I loved it. The minute I picked up a stone in my hand, it spoke to me and I instantly had a feel for it.”

Mardkha returned to New York, rented space on 47th Street and opened the doors to ColorMasters Precious Jewelry. Today, the company has grown to 16,000 square feet with 100 employees and Mardkha, along with his brother David, who joined the company in 1988, is giving back to the industry that helped make them successful. The company has made a $150,000 donation toward GIA scholarships.

“GIA is making a great effort in the colored stone industry and we are fortunate to be in a position to support their efforts,” Joseph Mardkha said.

The brothers believe that educating the workforce will make jewelry retailers better able to sell colored gemstone jewelry, thereby raising the awareness of the variety of stones available to the consuming public.

“We feel the salespeople in retail stores don’t have the same amount of knowledge about colored gemstones as they do diamonds, and if they’re not comfortable with something, then they can’t sell it well,” said David Mardkha, vice president of the company.

A well-educated workforce also encourages high ethics and nurtures the responsibility of fully disclosing colored stone treatments, they said.

“Full disclosure is a necessity,” Joseph Mardkha said. “Our customers depend on us to take care of issues of treatment so they don’t have to worry about it.”

ColorMasters Precious Jewelry, a fully-integrated gemstone manufacturer that specializes in high-end jewelry, sells its wares to retailers across the United States. Approximately 70 percent of its business is comprised of colored stones.

The brothers will be inducted into GIA’s League of Honor in September and a classroom at GIA New York will be named after the company in recognition of their gift.

“In addition to building a company known for its exceptional colored gemstones, Joe and David Mardkha started the trend of manufacturing their own jewelry,” said Jane Lynch, director of Institute Relations. “They are leaders in the industry and GIA is proud to have them join the League of Honor.”