Knox Jewelers Journal
Conflict Diamonds, another part of the story.
- An estimated 5 million people have access to appropriate healthcare globally thanks to revenues from diamonds.
- Conflict diamonds have been reduced from approximately 4% to considerably less than 1% since the implementation of the Kimberley Process in 2003.
- An estimated 10 million people globally are directly or indirectly supported by the diamond industry
- The diamond mining industry generates over 40% of Namibia’s annual export earnings
- Diamond revenues enable every child in Botswana to receive free education up to the age of 13.
- In July 2000, the global diamond industry announced its zero-tolerance policy towards conflict diamonds and continues to drive this policy.
- Sierra Leone is now at peace and exported approximately $142 million diamonds in 2005
- Approximately one million people are employed by the diamond industry in India.
- Approximately $8.4 billion worth of diamonds a year come from African countries.
- More than 99% of diamonds are now from conflict free sources and traded under the UN-mandated Kimberley Process.
- The Diamond Development Initiative was established to improve the working conditions of artisanal miners.
- The revenue from diamonds is instrumental in the fight against the HIV/AIDS pandemic.
- Under the Kimberley Process, rough diamonds can only be exported and imported when accompanied by a certificate from the exporting country.
- The charity Jewelers for Children funds a community based care program for orphaned children in South Africa.
- An estimated 65% of the world’s diamonds come from African countries.
- Today, 71 governments and the legitimate diamond industry are all committed and legally bound to eradicating conflict diamonds.
- The diamond industry has introduced a system to help give greater assurances to retailers and to provide consumers with the reassurance that their diamond is from a conflict free source.
- Diamonds account for 33% of the GDP (approximately $3 billion) of Botswana. Since diamonds were discovered in Botswana, GDP annual growth rate has averaged 7%.
- Major world leaders – including Nelson Mandela – have cited the importance of diamonds to the lives of African people.
- It is estimated that one million people work in the informal (astisanal) alluvial diamond digging sector.
- Some diamond producing countries are not Kimberley Process compliant.
- In November, 2006, 71 Governments, leading NGOs, and the World Diamond Council agreed on measures to further strengthen the Kimberley Process.
- At the 2006 Kimberley Process Plenary, the industry committed funds and resources to address challenges faced by countries with a high prevalence of artisanal alluvial mining.
| Categories: Diamonds
Friday May 31 2007 Diamond Price Increase
Friday May 31 2007 De Beers DTC is expected to increase overall rough prices by 2-5% this week. Prices of large better quality stones are expected to increase significantlywith lower prices for smaller, medium to low quality, rough diamonds.
| Categories: Diamonds
Cool Diamond Pics
There really is something almost magical about looking into a diamond, so I thought that I would start a collection of interesting photos.
It is very difficult to capture the beauty of a diamond in a photograph, but like other examples of natural beauty, such as a photo of a beautiful sunset or a scenic panorama, a photo that captures the essence of a sparkling diamond can also be a work of art.
Here is a photo of a .19 carat fancy intense pink diamond we sold earlier this year.
Raw Diamond Crystals
Here are four very interesting photos of raw diamond crystals. These raw diamond crystals are the exact form that diamonds are found in nature. Note the varying body color of the diamond crystals. Most diamonds found in nature will have some tint of color, the yellow tints and brown tints are the most common. A diamond crystal without a tint of yellow or brown is very rare and desirable, these diamonds are given the top three grades of D-E-F or colorless.
It is even more rare to find fancy colors such as the fancy intense pink diamond shown in the last article.
Photos courtesy of International School of Gemology
More Pictures to come…
| Categories: Diamonds
Clarity grades… the dirty little secret
Are all SI-1 clarity diamonds eye-clean?
Are all SI-2 clarity diamonds eye-clean?
Are all VS-2 clarity diamonds eye-clean?
Are all VS-1 clarity diamonds eye-clean?
The truth may surprise many… but the answer to all four of the above questions is, no.
Here is another thought for those considering ‘buying blindly’ from the virtual list of diamonds available on the internet.
Many consumers assume that all clarity grades are uniformly identical or at least very close, Eg. “All SI-1 clarity diamonds will be eye-clean” at least all the SI-1 diamonds from the preeminent labs.
Nothing could be further from the truth, especially in the SI grades.
SI clarity stones of the same grade can vary tremendously, from eye-clean to easily visible to the naked eye. (see photo below of three actual stones, all with a Gemological Institute of America (GIA) clarity grade of SI-1)
It is helpful to think of the clarity grades as a range, and not an exact, precise, quantifiable term.
Within these ranges of clarity there are for example, good SI-1’s, bad SI-1’s and maybe even the ugly SI-1’s. ( this analogy will hold true thru the other clarity ranges as well)
It is common sense that diamond sellers that stock diamonds will buy for their own stock the nicer of these ranges of clarities and especially the nicer (eye clean) SI’s .
With the diamond sellers that stock diamonds buying only the ‘good’ SI diamonds for their stock, this of course leaves the bad and the ugly to be sold elsewhere.
Think about it.
On this very topic, here is an inquiry from a poster on an online diamond forum and my reply to the poster. He was asking if the SI-1 diamond he saw listed on a “virtual listing venue” was a good deal.
I’ve been looking to buy an engagement ring online, and have come to the conclusion XXXXXX.com has the best prices out there. For instance:
Price: $xxxx.xx
Code:
Stone shape: Round
Carat Weight: 0.91 carats
Cut: Ideal
Color: G
Clarity: SI1
Certificate type: GIA
Depth %: 62.8
Table %: 58.0
Symmetry: Very Good
Polish: Very Good
Girdle: Thin to Medium – Faceted
Culet: None
Fluorescence: None
Measurements: 6.22 x 6.16 x 3.89 millimeters
Length-to-width ratio: 1.01
To which I replied:
Hi, Welcome to the forum.
The short answer is, if the diamond is a strong SI-1 and not overly dark or dead from being marginally deep… the stone may be well priced.
The longer answer and the reality of the situation is that diamonds are essentially priced by the marketplace and by how strictly graded any particular diamond is and of course that particular diamonds cut quality.
I will only speak to the subject of clarity, but rest assured that the same market forces will affect the desirability and saleability of any diamond with regard to the diamonds Color and make and/or overall finish.
There are varying levels of SI-1 clarity diamonds (other clarities as well) and they are all priced by the supply and demand forces of the marketplace based on how strictly graded the diamond is.
Do a little research on clarity and you will find that SI-1 stones can vary from ‘clean to the naked eye’ to having ‘easily noticeable inclusions’
The diamonds on ____ ____ and many other websites are from virtual lists, these are lists of diamonds owned by cutters and wholesalers, bear in mind that most if not all of these same diamonds are available to jewelry stores and other volume buyers of diamonds but for whatever reason have gone unsold.
Of course, the most obvious and common reason for diamonds to be rejected by expert buyers is that the diamond is not strictly graded (IE. not a strong SI-1)
Certainly, there can be quality diamonds on these virtual lists also.
However, it is common sense that the longer any one diamond stays on this list, especially if it is priced ‘competitively’ the more likely it is that this particular diamond is a reject of the expert buyers that comprise the market.
Unfortunately, there is no way for consumers to tell how long a diamond has been on the market.
Consumers do not have the beneficial market forces to help the non-experts as one would have in another marketplace such as real estate, where an overpriced piece of real estate that has been on the market for years/months raises obvious red flags.
Aaaahhh… so where do these ‘rejected’ diamonds end up?
What better venue for a seller of such a stone than to be able to sell it to a consumer, sight unseen. Think about it.
His shopping is done… she has a ring on her finger… a wholesaler has sold a diamond that experts would not buy… and yet everybody is happy ?
Yes, and it is because all diamonds are beautiful, this is especially true for diamonds sold on the internet as there are not other more beautiful diamonds to compare it to. Even diamonds with noticeable imperfections in say, 3% of the visible area of the diamond may sparkle beautifully in the other 97 % of the diamond.
So… the diamond now has a happy home due to the above reason, but not without considerable help from the cognitive dissonance (the tendency in human nature to rationalize bad decisions) making this person think that his SI-1 diamond is the same as any other SI-1 diamond or that he has somehow found the deal of the century.
Speaking of which, there appears to be no shortage of people that seem to think they can swim with the sharks and out smart this ‘market place’ comprised of diamond buying experts and corporations that trade in diamonds for a living.
Hmmm? That last paragraph actually has the making of another article.
Brian Knox
Visit our website here: www.knoxjewelers.biz
Tags: clarity, diamond, Diamonds, eye clean, grades, grading, standard | Categories: Diamonds