It's New to Us By Jean Stratton

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A Full Selection of Jewelry Services From Princeton Diamond Exchange

Not only are diamonds a girl's best friend, they are a jeweler's best friend! says Orlando Olaya with a smile.

"Diamonds are our specialty. They are always popular – whether for an engagement ring, pendant, tennis bracelet or necklace, chandelier earrings, or studs. Diamonds stand the test of time."

Mr. Olaya and his brother Hector Olaya are owners of Princeton Diamond Exchange, which opened in the Princeton North Shopping Center in September. A full service store, it offers new and estate jewelry, appraisals, investment jewelry, buying and selling services, and repairs.

Orlando Olaya, a gemologist and designer, has been in the jewelry business for 25 years in northern New Jersey and Manhattan. Hector, who handles accounting and marketing, is new to the jewelry business, but not to the Princeton area, having owned Pizza Colore and Nassau Bagel Company on Nassau Street.

He sold those businesses and went into commercial real estate, and when the chance to open Princeton Diamond Exchange came along, he did not hesitate.

"I've been selling food to people here for 12 years. Now, we're encouraged to have a different opportunity and angle. I have always enjoyed fine things, and my brother is an expert. I think he is the most talented jeweler in the area. Also, one of the things I like about this business is that jewelry, because of its inherent value, is an item that you can recycle, trade, and bring back. So, it works in a good economy or when times are harder."

Big and Bold

A wonderful selection of diamonds and precious and semi-precious stones is on display at the store. Designer pieces, such as Penny Previle necklaces and David Yurman earrings, are shown, as well as a variety of fashion jewelry. A full range of pearls includes Mikimoto-quality, Akoya, and black Tahitian pearls in all sizes. A special on freshwater pearls is currently available at $199 per strand.

"The trend is toward big and bold and colored stones," notes Hector Olaya. "Big semi-precious stones in necklaces and earrings are popular."

A men's section features rings, cuff links, I.D. bracelets, and watches, and a children's area offers a variety of choices, with sterling silver charm bracelets a big favorite for young girls now.

"People have loved jewelry throughout the ages, and it has often had special religious meaning," points out Orlando Olaya. "In the Far East, it can commemorate a religious tradition, a rite of passage. We have Christian jewelry, such as crosses, and Judaica, including Kiddush cups and Mezzuzahs."

An important part of Princeton Diamond Exchange's selection is antique and estate jewelry. "We are one of the few stores in the area to specialize in antique jewelry repairs," note the brothers. "We repair, recondition, and remodel."

"I represented a company that purchased estate jewelry from Tiffany, Cartier, and other similar establishments," says Orlando. "Redesign is one of my favorite parts of the business. I love working with gold and stones, and finding unique pieces from around the world. I hand-pick every stone that goes into a bracelet, necklace, etc., and I make jewelry that will last forever – heirlooms. Custom design, one-of-a-kind pieces and remounts are a big part of what we offer. All the antiques have a story."

Unlimited Choices

Because of Orlando's contacts in the jewelry industry in New York, Princeton Diamond Exchange has access to unlimited choices, explain the brothers.

"Diamond dealers work directly with us, and we have the ability to get items from all over. We eliminate the middle man, and can supply fine jewelry at wholesale prices. We have jewelry to meet everyone's budget – whether it's $8 for a battery or $80,000 for a gem stone. We offer great value and sell gold and silver by the weight."

Specials are also available, and currently, $125 ladies' watches are offered at $39.99.

Also on display is a new line of Invicta Swiss watches, and an unusual item, not found everywhere, is the Finger Mate hinged ring shank, reports Orlando. "You add a shank to the existing ring, so it can open to slip on over the knuckle, and then it snaps back. It is especially helpful to people with arthritis or those with swollen knuckles. We are the only store to offer it in the area."

The Princeton Diamond Exchange accepts items on consignment, offers immediate appraisals, and employs a master craftsman on the premises for repairs.

Providing quality products and attentive service to customers is very important to the Olaya brothers.

Right Way

"I have always looked for a way to help people in my life," says Orlando, who apprenticed with the Marcus Jewelry Company in northern New Jersey. "Now, I can help them make a wise investment with a piece of jewelry, whether it's a $50 or $50,000 piece, and help to protect them this way.

"I enjoy every aspect of the business. We want to do things the right way. Your reputation is the most important thing you have."

"Here, my brother and I are going to take care of you," adds Hector. "We take time with customers. Sometimes, people think they have to go to New York for jewelry, but they can trust us, and if they wish, Orlando will go to New York with them to select diamonds. We invite anyone with questions about jewelry to come in and see us."

The Olaya brothers hope to expand their services and also become a strong part of the community. Giving back is important, they believe. They have donated jewelry to a local school for a fund-raiser, and continue to offer their services in this way.

"We want to be a real part of the community and to be known as the jeweler people think of in the Princeton/Montgomery area for professional service and fine quality at realistic prices."

Princeton Diamond Exchange is open Monday through Saturday 9 to 6, Sunday by appointment. 924-9400.