|Received:||09/20/2005 03:21:15 PM|
|Organization:||Kahan Jewelry Corp|
|Agency:||Federal Trade Commission|
|Rule:||Guides for the Jewelry, Precious Metals, and Pewter Industries|
|Docket ID:||To Be Added|
Comments:Kahan Jewelry Corp is a dealer in precious metals. As such we are in position to know what the industry wants and needs. We have been inindated with phone calls over the last few months requesting information on weather we are carrying this product or not. Requests have also come in the shape of how to advertise and label this product. Afew months ago I called one of the large suppliers of pure platinum in regard to being able to supply us with the pure metal so that we will be able to give this metal to Karat Platinum in exchange for the 58.5% product. I was told that the industry does not want a cheaper product. This company that does the sales for one of the largest mining companies told me flat outright that they were worried that if a less expansive product is out there it will reduce the amount of platinum used in the global market place. While i understand their problem I don't think that it is legal I don't think that because one or two very large companies want to sell a greater concentration of metal the end consumer needs to be punished. I also know that already alot of customers are shying away from Karat Platinum's product due to misinformation that is being spread by certain representives of this industry. This is not right ! This is unamerican ! This is called price or product fixing! I believe that the mandate of the ftc is to look into such matters. To see if this indeed is happening. To see if this product helps the end consumer. I understand that this product is allowed already but has to be properly labeled. Karat Platinum is making sure that this product is labled correctly. Customers are being told why the product is less expansive then the other platinum. This is garrenting that everybody involved knows what the product is all about. Lastly,change is good for compitition it lowers the cost of goods. You need to ask yourselfs Why don't these few detractors want this to happen ? What is their real reason? We request the that the FTC maintain the current jewelry guideline as sufficiently clear.