De Beers Diamonds

European Union diplomats are touring the controversial Marange diamond fields.

REVENUE FROM DIAMONDS IS SET TO CONTRIBUTE US$600 MILLION TO FISCUS THIS YEAR.

The diplomats will visit four companies, Mbada, Marange Resources, Diamond Mining Corporation (DMC) and Anjin. They will also visit the ZRP Diamond Base.

Diamonds from Marange have courted controversy amid calls by civil society organisations that there is no transparency in the marketing of the gems.

Finance minister Tendai Biti has been complaining that Anjin has not been remitting money to treasury. Anjin is a joint venture between the Chinese and the Zimbabwe Defence Industries.

Biti has said despite claims that the Zimbabwe Mining Development Corporation (ZMDC) owns Anjin, the state entity had no equity in the diamond producer.

No Credit, No Cry

A hot-button topic in today’s diamond industry is the practice of extending credit to customers.

In several impassioned “State of the Diamond Industry” addresses, Rapaport Group Chairman Martin Rapaport said the jewelry industry cannot extend credit to customers anymore, and made clear his feelings on buying diamonds on credit (‘credit memo’).

“I’m going to blast the hell out of credit,” Rapaport said before launching into his tirade. “It makes me want to throw up.” He said that we simply cannot sell to people on credit anymore, and that diamonds at all levels of the trade must be sold to “real” buyers who actually have the money to pay for them.

“You need real people with real money,” he said. “We can’t memo our way out of the recession.”

“If you don’t have the money and are not a player we love you, but you’re not a player.”

The diamond market relies too heavily on credit to finance the jewelry sector, and hurts it when stores file for bankruptcy as happens all too frequently in today’s economy.

“Just say no to memo and encourage cash purchases”. The jewelry industry must avoid those who are not financially capable of buying stones and paying their debts.

“You don’t have money, go screw yourself. That’s the bottom line,” Rapaport said, a statement that drew a hearty round of applause from the audience.

DCLA would like to help legitimate industry members protect their money and time by limiting bad payments and default debtors. As a central hub in the Australian market, DCLA is happy to verify and give good credit information to industry members.

Diamond dealers and jewellers are also welcome to call and receive information on companies or individuals having defaulted on a payment.

Also, please note that DCLA will be closing all customer credit accounts outstanding for a period greater than 60 days.

AGS launches Diamond Search platform

The American Gem Society, in partnership with Verichannel, announced today the launch of a specialized search engine for diamonds graded by AGS Lab, available from AGS suppliers.

The online service is integrated into the members only section of the AGS website, and is also accessible to AGS members from the Verichannel platform itself. “AGS Diamond Search” consists of a database of stones uploaded by AGS suppliers, and also stones uploaded directly from the AGS Lab, immediately after being graded, based on permissions set by the supplier. They are searchable using standard criteria of color, clarity, shape, etc. AGS retailers contact suppliers directly to initiate a purchase.

“We’re very pleased to be able to make this resource available as a member benefit for AGS retailers and suppliers,” said Ruth Batson, AGS Chief Executive Officer. It makes sense to give our retail store buyers the most convenient means possible of finding AGS stones from AGS suppliers, essentially all in one place, and right there at our website.”

“We have already uploaded hundreds of stones into the AGS Diamond Search,” said Charles Rosario, Senior Vice President of Lazare Kaplan International Inc., an AGS supplier. “Given that this is a very targeted and exclusive environment, it provides a means of reaching out to AGS stores directly and efficiently.”

Verichannel created the concept of labs uploading diamonds online, immediately after being graded, when it launched its Daily Diamond Report service in January. “The same technology is being used for AGS Diamond Search,” noted Jacques Voorhees, president of Verichannel. “In today’s diamond market, buyers and sellers need to be able to communicate with each other as efficiently as possible, especially when it comes to finding the right diamond, and finding it quickly.”

“At the AGS Lab, we provide a direct feed of freshly graded diamonds to Verichannel’s database, with authorization from suppliers,” explained Peter Yantzer, Executive Director of Gemological Services for the AGS Lab. “These then instantly become part of the AGS Diamond Search system on the AGS website. It’s the fastest way imaginable to get a stone to market.”

“AGS Diamond Search will be a big time saver,” noted AGS retailer Tom Wright, of Wright’s Jewelers, Lincoln, Nebraska. “We’ll begin using this resource as soon as we’re back from Conclave.”

More information on AGS Diamond Search is available at www.ags.org and also at www.Verichannel.com.

Learn About Diamonds & Diamond Buying on Sat May 30th 9:00am

DCLA teaches about diamond grading and diamond buying at a hands-on Diamond Workshop; register now for a 2-3 hour course before buying your diamond.

DCLA diamond experts will walk participants through the steps of grading a diamond for quality, and how to buy a diamond, during a 2-3 hour in-house workshop located at the actual DCLA Laboratory.

Call DCLA on 1300 66 3252(DCLA) to reserve your place. Spacing is very limited.

Diamond Buying workshop topics include:
•Detailed explanation and hands-on evaluation of the 4C’s of diamond grading. Participants will take part in the grading process to learn how the quality and value of a diamond are established.
•Choosing the diamond shape, size, and quality right for you
•How to shop for a diamond and questions to ask jewellers
•How to read, understand, and compare Diamond Grading Certificates when shopping
•Explanation and identification of diamond treatments, and how they affect value
•Explanation and identification of synthetic diamonds, and how they affect value

Participants will have ample opportunity to ask questions throughout the workshop.
Again, contact DCLA on 1300 66 3252(DCLA) to register and reserve your place.

Buying a Diamond? Introducing the DCLA Diamond Exchange

It is with great pleasure that the DCLA announces the launch of the DCLA Diamond Exchange, a new company and diamond trading floor that gives all diamond buyers direct access to DCLA certified and guaranteed diamonds.

The mission of the DCLA has always been to protect diamond buyers and maintain consumer confidence in diamonds. In the continuing pursuit of this mission, the DCLA has had overwhelming demand to provide the public with access to DCLA certified and guaranteed diamonds. If you cannot find a DCLA diamond at your jeweller, DCLA Diamond Exchange is happy to assist.

The DCLA Diamond Exchange is the first and only diamond exchange where consumers buy diamonds with the greatest confidence that all diamonds are guaranteed to be correctly graded, providing you with the right diamond at the right price. Every diamond listed on the DCLA Diamond Exchange is backed by the DCLA Laboratory Consumer Grading Guarantee. This guarantee assures buyers that every diamond listed on the site is independently graded and verified, and is protected by a full-replacement guarantee.

Through the DCLA Diamond Exchange, leading Australian diamond merchants list their DCLA certified diamonds directly to you on the Diamond Exchange trading floor, while DCLA diamond experts guide you through the buying process from beginning to end.

Consumers view and compare diamonds with the personal assistance of a diamond expert in a professional laboratory setting. DCLA Diamond Buying Workshops offer consumers succinct and comprehensive diamond knowledge. Select diamond advisors provide full analyses and explanation of the diamonds being viewed, for complete confidence, understanding, and peace of mind.

This means that the DCLA now provides the first ‘one-stop-shop’ for all diamond consumer needs. Consumers can depend on reliable expert advice and diamond buying information to ensure they make a smart purchase, regardless of where they decide to buy.

Buy your diamond from the diamond experts, and select a jeweller whose designs and work you like. For more information, or to find a diamond, go to the DCLA Diamond Exchange.

Why buy from the DCLA Diamond Exchange?

• DCLA are experts in diamonds and determining diamond quality, with vast knowledge and experience in diamonds.
• DCLA Diamond Exchange draws on the thousands of DCLA diamonds available right here in Australia, which guarantees you the right diamond at the right price.
• DCLA gives you all the information you need to make a smart purchase, even if you buy elsewhere.
• DCLA certifies, guarantees and cold laser inscribes every diamond for your protection.
• The DCLA Diamond Exchange will have the largest selected variety of DCLA Laboratory certified, approved, and quality guaranteed diamonds available in Australia.

THE DCLA DIAMOND EXCHANGE

Diamonds Online – Savings or Scam?

Does buying diamonds on the internet offer huge savings? Is it safe? Why does it appear so much cheaper?

The internet has become saturated with online diamond retailers promising unparalleled quality, selection and low prices. But has this been a positive development for consumers and the diamond industry in general? Opinions are clearly divided.

Whilst there are some genuine online retailers providing real value, regrettably the net has become the perfect avenue for selling the “leftovers”. What does this mean?

Through the traditional distribution channel in the trade, reputable diamond merchants and jewellers scrutinise, select and buy the diamonds they sell. This process ensures you as the ultimate buyer get a correctly graded diamond. With most internet retailers, a list of diamonds is received from overseas suppliers and listed on the site. These retailers do not sight the diamonds until you have bought and paid for them. Buying from these online retailers, you are not seeing and buying the diamond, you are relying on the information and advice provided by online-sellers commonly referred to as drop shippers, who haven’t seen the diamonds themselves much less paid for them.

While the internet has brought convenience, increased selection and greater competition, it has also provided the perfect vehicle for selling these “leftovers” – over graded and therefore over valued as well as treated diamonds, some with overseas certificates to lend credibility, that cannot be sold through the accountable traditional channels. Although these diamonds are listed for sale at seemingly fantastically low prices, generally one fact remains true: you get what you pay for. There have been many instances where consumers who have bought diamonds online come in to the lab for verification, only to find they have not received the quality represented.

Remember: Low price doesn’t necessarily mean a good deal.

Both the Government and the Industry bodies are aware of, and looking into these issues, but do not know how to, or even if it is possible to police.

Tips for Safely Buying a Diamond Online

1. Buy from an Australian-based website that has a clear money-back return policy. Buying locally, you have recourse if anything is wrong or if you are not happy with your purchase.

2. In Australia only buy a DCLA-certified diamond. DCLA is the only internationally recognised lab inAustralia, and the only lab worldwide guaranteeing that the stated quality of a DCLA certified diamond is accurate, with a third-party full-replacement Diamond Grading Guarantee. Since the grading is guaranteed, you know you’re comparing apples with apples when comparing DCLA certified diamonds to buy – you can decide on your desired quality then shop around for the best price.

Common Online Buying Issues to be Aware of

BAIT AND SWITCH
Thousands of diamonds listed, little or no diamonds physically in stock or available. We call these “ghost diamonds”. Too often when an enquiry is made, that particular diamond is not available and an alternative is offered.This is an old trick – a diamond is listed at a great price, making real jewellers look expensive, but when you want to buy it it’s not available. You will often see terms like “subject to availability” and “Your money will be refunded if we happen to miss the diamond”. “If you wish, we will find a suitable replacement.”

What should you do? Ask if the diamond is in stock and available for you to view. If not, shop elsewhere.

DROP SHIPPING
Many online sellers simply list diamonds from overseas suppliers that they have never seen before. Once you, the customer, buy and pay for the diamond, it is then imported into Australia.

What should you do? Ask. Is the diamond available to view before you buy it? If not, shop elsewhere.

EXAGGERATED GRADES
Many diamonds listed on the net are either not certified or have “in house” reports or valuations allowing grades to be exaggerated and treatments to be hidden.

What should you do? Only accept a certificate from a respected independent diamond grading lab and make sure the diamond is laser inscribed for identification. This helps ensure that you receive the diamond you bought and paid for. Only compare prices of diamonds with proper certificates. Don’t be fooled by official-looking certificates or valuations from local “gemmologists”. They are probably not independent and exaggerate the grades to make the prices look good.

If you would like help finding your diamond, or have further questions, please contact us on 1300 66 3252 (DCLA) and we will be happy to assist.

Growing Incidence of Undisclosed Treated Diamonds in Australia

DCLA has seen an alarming increase in the number of treated diamonds being submitted as natural diamonds to the laboratory for certification.

It should first be said that diamond treatments are neither good, nor intrinsically bad in and of themselves. There is nothing wrong with buying a treated diamond, provided that the treatment is fully disclosed and that you pay the appropriate price for the diamond. Because of their lower cost and value, treated diamonds can allow a person to buy a diamond that appears to be of a higher quality than it truly is.

However, too often the presence of such diamond treatments is concealed. Whether this deception is by intent or negligence, such concealment is tantamount to fraud.

Not only does artificially treating a diamond significantly reduce its value, but most diamond treatments are unstable and reversible. For this reason, all internationally accepted rules for diamond grading forbid the certification of treated diamonds. An extremely disturbing discovery just recently in the DCLA Laboratory was that of a coated diamond accompanied by a certificate from a supposedly legitimate Australian ‘laboratory’.

Members of the diamond industry have a responsibility to consumers to convey accurate and transparent information, and each individual that handles a diamond as it moves down the diamond pipeline from the mines should be held accountable for making known any treatments that a diamond has undergone.

It is deceptive and unfair to fail to disclose treatment of a diamond when it has a significant effect on a diamond’s value. In its pursuit of consumer protection, DCLA is offering a ‘Diamond Amnesty’ for diamond owners Australia-wide – any diamond brought in with its matching diamond grading certificate will be verified for grading accuracy and tested to ensure that it is natural and free of treatments. This service will be provided free of charge.
Diamond Intelligence Briefs: http://www.diamondintelligence.com/magazine/magazine.aspx?id=7833

DCLA Offers New Damage Assessment and Recut Service

DCLA now offers a precise recut assessment service on poorly finished, chipped, broken, and otherwise damaged diamonds.

The popular belief is that diamonds are indestructable, but the fact is that diamonds can, and do in fact break, chip, or endure other such damage like abrasions and bruising. In most cases, the damage is repairable; DCLA has advanced equipment and specialised software to provide a comprehensive damage assessment report, and recut analysis, on damaged diamonds.

On request, DCLAwill have the diamond recut or polished. This service is available to the trade, members of the public, and insurers requiring salvage assessment.