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On the sidelines of the JCK Las Vegas show, a deeper conversation was taking place than the usual negotiation for goods. Numerous educational seminars and keynote addresses urged businesses to move beyond simple product and price transactions and think long-term to ensure industry growth.
Las Vegas – The Diamond Empowerment Fund’s mission of providing higher education to children in Africa’s diamond-producing countries got a boost in Las Vegas, with the organization’s annual gala raising more than $1 million.
The industry must meet consumer confidence challenges and promote itself more in order to keep diamond demand strong, Philippe Mellier, CEO of the De Beers Group, told a packed Mandalay Bay Surf Room in his presentation “Perspectives on the Diamond Industry” on May 30.
The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products.
On the face of it, Panama certainly seems like a logical place for a new diamond exchange. From the southern tip of Argentina, relatively close to the South Pole, all the way to Mexico and including the Caribbean, there is not a single diamond bourse.
London – A new report states that the per-ounce price of gold might have already hit its high for the year and could briefly sink as low as $1,100 in the coming months.
At the recent American Gem Society Conclave, speaker Peter Sheahan gave an excellent presentation about how all industries are dealing with rapid change. “Don’t build your future on the beliefs of the past,” he exhorted.
If it is true that diamonds find their raison d’être in emotions, rather than necessity, then one can see why good marketing is twice as important as in other goods.
You may remember Supplier of Choice. It was the De Beers policy designed to set the industry up for the post-cartel world. It billed itself as transparent, open, and objective.
On May 13, Sotheby’s Geneva will auction the 100.9 ct. Graff Vivid Yellow, considered among the largest fancy vivid yellow diamonds in the world.
It is not unusual for international geo-political events to have an influence on the diamond industry.
Promoters of synthetic diamonds often argue that if all diamonds are grown in a lab, that would eliminate blood diamonds.