Welcome - The history of Precious Metals

In 1976 a Melbourne institution Precious Metals was founded by Garry Holloway, geologist turned jeweller. Ever since Precious Metals has given its best, guided by core values of "service, trust and specialization".

Service - Genuine caring and professional service, ‘if we don't have it, we will design and make it for you.

Trust - Trust is in more important in jewellery than most industries. It begins with each of us. Trust exists in other people's perception not our own. I am only worthy of your trust when you believe it!

Specialization — People at Precious Metals are encouraged to specialize in what they are best at. The best designers, gemmologists and jewellers all working together as one team under one roof.

Below are some local and international media endorsements of Garry Holloway’s research of "Ideal Cut" diamonds.

"More than ever before consumers are making their own assessment when buying a diamond...More and more customers are buying diamonds that 'look good' for the price they are prepared to pay. And often the best looking diamonds in a jewellery store cost less than rarer 'fine quality' diamonds that simply do not 'look good'."

Australian Gemmologist Spring, 1999

Quotes and Media
The diamond's cut directly affects the sparkle and beauty of the stone. Consumer's tend to value the cut of a diamond because it gives the sparkle, the reason why diamonds are attractive...Mr Holloway's research attempts to give a definition of how best to cut, and therefore emphasise the "sparkle" of a diamond.
The AGE, 28/8/99

Garry Holloway argues his point (photo) at the Diamond Cut War Room. "One of the concerns that I have is that a lot of the stones that are on the market at the moment aren't Ideal cut. Not only are they not Ideal cut, they're really Lousy cut."
GIA Journal, Fall, 1999

"If the top angle, the crown, of the diamond is two degrees steeper than a traditional Ideal cut, then the bottom of the diamond has to be one degree shallower...That is all that has to happen to cut a diamond in Ideal proportions."
ABC Robyn Williams The Science Report, 3/7/2000

ABC Radio Australia

"The diamond industry prizes size, followed by colour and clarity, above all else." He (Mr Holloway) shakes his head in despair and adds "the cut of a diamond - and it's the cut that makes a diamond sparkle - comes a distant forth"... To get an 'ideal' cut diamond you have to cut away more of the stone. Most in the industry would rather deal in bigger or heavier, less well-cut stones...they get more money for them, even if they look dull and drab by comparison. This is one reason why the industry has not valued the cut of a diamond more highly.
Vive, Summer, 2000

"More than ever before consumers are making their own assessment when buying a diamond...More and more customers are buying diamonds that "look good" for the price they are prepared to pay. And often the best looking diamonds in a jewellery store cost less than rarer 'fine quality' diamonds that simply do not 'look good'."
Australian Gemmologist, Spring, 1999

The "look" of a diamond takes in its scintillation (sparkle when moved) and fire (rainbow colours when moved)...Mr Holloway said "cutting the crown correctly resulted in little weight loss but added significantly to the scintillation and fire of a diamond"
The Australian, 24/1/2000

Because proportions are such a critical element in the diamond's beauty, the "ideal" cut has become identified as the standard of diamond beauty..."this standard will enable us to attain a universal and effective grading system for cut that will change the way diamonds are valued, carat weight and rarity will be less dominant and beauty will be more prized...Ultimately, consumers would be the beneficiaries of a system offering empirically derived and internationally accepted cut grades. They would be able to buy with greater confidence and a sound basis for selecting the size, quality and cut of the diamonds."
Rapaport Diamond Report, New York, July, 2000

Holloway is working to develop a new standard to rate Diamond's value according to it's cut. "It will be a fundamental change right across the world," he says. This will give an opportunity for some "ugly" deep cut stones to be worth more if they are re-cut to look better".
Personal Investor August 2000

Robyn Williams: What effect would this have on the financial part of the exercise?
Garry Holloway: ...once there is a standard in place there will be value attached to that standard...
Robyn Williams: So in fact they could be worth more?
Garry Holloway: Well, they could look more beautiful.
Robyn Williams: And be worth more?
Garry Holloway: And be worth more.
Robyn Williams: Because that's what matters doesn't it these days?
ABC Robyn Williams The Science Report, 3/7/2000

ABC Radio Australia

ABC Science Report — Robyn Williams

Personal Investor

Rapaport Diamond Report

Australian Gemmologist