Loose Diamonds

He makes sure to stress the vast importance of creating a unique niche for yourself or a selling point that will attract and retain buyers in this business. He believes that a strong branding background will aid manufacturers in the market to improve their profits. With clients that are constantly looking for something unique in today's market, companies that lack this distinctive selling point or a unique product will find it more difficult to take their share of the market. "Competition today is much stronger because of the growing technology and internet, and not only in the diamond and jewelry business. Companies that are not looking a few steps to the future will not be in the game," says Siman-Tov. At the close of July, diamond business flat due to the competition in the market. Trading patters in the IDE remained quiet with activity further impacted by the U.S summer vacation. Barmecha notes that although locally the market was a bit more quiet, the overseas orders put in were sufficient enough to spur business.

The growing demand for more unusual and unique designs have been under constant growth within the recent past. Rakhmanina claims that Rifesta's newer fancy cut diamond collection found great success this year. "It was a long shot because people in Russia like round diamonds, but the new shapes were so unusual for the Russian eye that they worked. Of course, special marketing helped." The stones in discussion ranged from .05 carats to .30 carats in size. Several manufacturing facilities said that the best selling diamonds fro their companies were in the range of the 1 to the k color and VS1 to SI1, although there were different increases in demand for better jewelry.

ALROSA will pay no less than 35% of its net profit under international financial reporting standards (IFRS) and dividends. The company's net profit under IFRS amounted to $942.4 million (RUB 31.837 billion) in 2013. Under Russian Accounting Standards (RAS) ALROSA's net profit amounted to $1.05 billion (RUB 35.6 billion). The company noted that the remaining portion of its net profit will be used to finance its capital investment programs.

Sales at both the Hong Kong and Macau locations reported a 9 percent decline from the previous year. It should be noted that group sales rose 22% in the fourth quarter, slowing from a 26 percent increase. Strong retail jewelry and diamond sales have been reported from their mainland China headquarters.

Goldberg says, "it's been a bit quieter because of the turmoil going on with Russia." Noting that Russian buying has declined since the trouble began. President of Fischer Diamonds Inc., a diamond manufacturer in New York City said, "if the hotheads in Washington were to invoke serious sanctions on Russian products or put obstacles in place for Russian goods than the compliance machinery starts to come into play, adding complications an already complicated business."

Following the diamond trade show, diamond trading on secondary wholesale market slightly slowed as dealers noted that demand for clean diamonds while decreased while demand for low end goods increased. Many dealers noted that they purchased lower quality goods because there is no need for certification while better quality diamonds require GIA certificates and therefore require more time for turnaround.

The Jewelers Security Alliance also known as the JSA reported that the dollar losses from jewelry related crime increased 10.5 percent on the year to $66.5 million in 2013. In 2012, while there were more multimillion dollar losses during the year the total number of crimes were less at 8.1% or 1,414 reported cases.

The demand for consistency when reading diamonds was paramount to GIA's goal of providing a standardized system for grading. The Gemological Institute of America spent countless hours refining and perfecting the viewing environment and lights used to create the most consistent grading situation possible.

He worked with the industry to establish the increments, selecting the master stones and setting the color scale. That scale was used primarily for gemology students learning how to grading diamonds until the early 1960s.

The Gemological Institute of America (GIA) has been working with the World Federation of Diamond Bourses (WFDB) along with the Chinese diamond industry to locate and identify bourses that will receive its coveted Diamondcheck technology, a synthetic diamond detector recently introduced by the Gemological Institute of America (GIA).