After graduating from college with a liberal arts degree and spending an enjoyable summer, reality struck for Richard Buonomo when his parents asked “what’s the plan?” So he hit the New York Times classified ads at a time when those ads were still in a newspaper and found one that he thought was interesting “Gemological Institute of America (GIA) hiring and training for diamonds and gemstones, send resume.”
“I sent my resume with a note and here I am four decades later,” says Buonomo, who worked at the New York GIA first in the gem trade lab and then as an instructor. “When I became an instructor it fleshed out my knowledge. People came from all over the world to study at GIA.”
Launching a Business
The next step in Buonomo’s career came when he happened to by chance answer the office phone one day. That call was from Tiffany & Co., looking for people to fill jobs and he asked the right question: “What kind of people are you looking for?” The answer: “People like you.”
That phone call launched Buonomo into a new direction. “I was at Tiffany for eight years. I started as an estate jewelry dealer and broker, then I was the buyer of emerald, ruby and sapphires and later I became the director of product development,” he recalls, noting that he was promoted to a manager position at Tiffany & Co., seemingly overnight. To prepare for his new role, he stayed late every night to read and review auction catalogs to gain knowledge about all types of jewelry and gemstones.
Eventually Buonomo worked with a mentor who coached him on how to start his own business, which he launched in 1995 as Richard Buonomo Ltd. He says that his time at GIA and Tiffany & Co., provided him with a range of experience in the jewelry industry from diamonds and colored gemstones to estate jewelry and manufacturing. In his business today, he tends to move between those four areas. “I concentrate on the area that catches my interest, or is trending in the industry,” says the New York-City based jeweler, who describes being a boutique dealer as a dream come true because it allows him to shape his own inventory, decide who he wants to work with and when he wants to work.
The Right Dealer
When it comes to selecting jewelry for his collection, Buonomo buys pieces that excite him with wearable chic beauty, originality, gemstone quality and if those boxes are ticked off, value. “If I fall in love with a piece, typically I’ll pay the price and I’m always able to sell it.” He advises clients to look at the jewelry in a dealer’s showcases if you love the aesthetic and you trust the person then that is probably the right dealer to work with you. Make sure that you ask for jewelry that fits into their expertise, “If they have a lot of Victorian jewelry in the case, don’t ask for Art Deco. If you ask a dealer to find something, give them an exclusive. The dealer will work harder and you’ll have a greater chance of getting a great price for the piece of your dreams.”
Twin Ring Expert
The biggest game changer for Buonomo in his career came down to two stones, or more accurately a two-stone ring. “A store I was working with bought a fine quality Kashmir sapphire with a type IIa diamond in a delicate platinum setting,” he comments. “It was the ultimate piece that focuses on the quality of the gems. Both stones play a role of equal importance.”
Buonomo soon found himself making two-stone rings. “It harnesses everything I’ve learned about diamonds, colored gemstones and manufacturing. Since that ring, I’ve made so many twin-stone rings that it has become a Richard Buonomo signature.”
Currently, he finds that chunky gold mid 20th century jewelry styles are trending. Gold jewelry is versatile enough to be worn for daytime or for a formal occasion, fitting in with today’s lifestyles. “The best vintage jewelry tends to be more beautiful and more passionately crafted. To satisfy a more modern sensibility, vintage jewelry is sustainable, nothing new needs to be pulled from the earth to make it,” concludes Buonomo. “Once a person buys their first vintage piece they tend to always want period jewelry, primarily because it defines personal style. There is nothing more unique than a great piece of vintage jewelry.”
Top of page: Richard Buonomo
Diamond, ruby, natural pearl, enamel and 18-karat gold, Art Nouveau brooch, signed Marcus & Co.; Diamond, coral and 18-karat gold earrings, signed Bulgari, circa 1970s; Diamond and 18-karat gold bombé ring, French, circa 1950s; Burma no-heat ruby, approximately 1.50-carats, old mine pear shaped diamond approximately 1-carat, set in platinum, Belle Epoch.
Authored by Amber Michelle