THE NATURAL DIAMOND INDUSTRY SAYS “NO” TO SYNTHETICS

Survey reveals that 79% of diamantaires oppose diamond listing and pricing services for synthetic diamonds.

The most buzz-generating subject of late in the diamond industry has been Martin Rapaport’s suggestion to provide diamond listing and pricing services for synthetic diamonds. Rapaport even held a survey among his subscribers to gauge the reaction of diamantaires to the issue.

On Sunday (June 2) Rapaport hosted the traditional Rapaport JCK Breakfast, where he talked about the state of the industry and presented the results of the survey, which included 7,000 votes. The vast majority voted against (79%) diamond listing and pricing services for synthetic diamonds. 88% voted “Yes” to the question “Should synthetic diamonds be required to disclose treatments?” and 85% voted “Yes” on “Would you support establishment of a natural-diamond organization?

President of the Israel Diamond Exchange (IDE) Yoram Dvash attended the Rapaport JCK Breakfast. He also met with Rapaport, President of the Moscow Diamond Bourse Alex Popov and President of Diamond Club West Coast (DCWC) Moshe Salem. Following the meeting, Dvash wrote on IDE’s Facebook page his take on the issues broached at the breakfast, noting that “Martin Rapaport unequivocally supports natural diamonds, and has no intention of providing diamond listing and pricing services for synthetic diamonds”.

Dvash added: “The results of Rapaport’s survey reflect the general sentiment of the global diamond industry, and I have no doubt that in these challenging times, it is important that all of us in the industry come together to promote it”.