Diamond Digest – 24th November 2016
CONFLICT DIAMONDS – HOT OR NOT?
Conflict diamonds are an issue that the industry can no longer ignore. We have spoken about it before, pop culture has been all over it and while the issue has largely faded from the spotlight in the past few years, the battle is far from won. We all know that The Kimberley Process only covers a very select criteria of issues related to “conflict free” diamonds and that up to 80% of the worlds diamonds are produced in countries where there are no human rights issues. But legitimate diamonds “can be easily mixed” with conflict stones once they get sent to a sorting house. So how is the industry addressing the problem? Read more at CNBC.
NEW DIAMOND GRADING MACHINE TAKES THE GUESS WORK OUT OF THE GLITZ
Diamond appraisels and grading has long been a tricky business. Completely up to the judgement of the human eye and subjectivity of the human condition (Having a shit day? Must be a shit diamond), a company in Israel has now claimed to have developed a machine that will instantly grade the clarity of polished diamonds. But graders – don’t fear for your job. Sarine Technologies promise that you will still be needed for determining authenticity and the more human elements of the process – what people want to see. “I think it will take a long, long time for a machine to be able to replace a human being.”
Read more from the Phys.Org people.
HAPPY COUPLES DON’T BUY DIAMONDS THE WAY THEY USED TO
Don’t love your diamond? Sell it and get a new one – apparently for most couples, it is really that simple. With a rise in the expectations on blokes for getting the right ring, the biggest ring or the most unique ring, engagement rings have become more fluid and less an heirloom investment or sentimentality piece than they were in previous generations. But they aren’t buying from jewellers and diamond dealers. They are buying from eBay, independent resellers, antique stores and a host of online options; or choosing to buy something that isn’t a diamond at all. So what is the future for Michael Hill, Prouds or any of the other ‘Normal’ retailers found in every shopping center in the country? It’s not great, according to Bloomberg…