A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
A little less conversation, please
Last night, the Diamond Manufacturers & Importers Association of America (DMIA) held a meeting in New York City covering what is undoubtedly one of the most talked-about topics among diamantaires today: synthetics. As I am sure many of you are...
Last night, the Diamond Manufacturers & Importers Association of America (DMIA) held a meeting in New York City covering what is undoubtedly one of the most talked-about topics among diamantaires today: synthetics.
While Monday night’s meeting began with what was a very interesting presentation by the Gemological Institute of America’s Tom Moses and Wuyi Wang, it ended with a question that I personally find even more interesting: What is going to happen to the company--a New York-based diamond company with ties to India--that allegedly submitted these stones to the grading lab in Belgium?
Will they be banned from the world’s diamond bourses or blacklisted in the industry in some other manner? Are criminal charges forthcoming in the case from law enforcement agencies in New York or Antwerp?
So far, the answers are unclear.
DMIA President Ronald Friedman said that here in New York, the DMIA will be “convening a meeting of interested parties,” including law enforcement -- which already has been contacted in the matter -- various industry bodies and the banks.
No date has been set but this meeting will take place “in the short term," he said.
Friedman added, though, that contacting law enforcement is not the only solution in this case. He said all industry players need to get involved, from manufacturers to banks to shippers to grading laboratories, and there needs to be a concerted effort to punish those involved, not just here but overseas as well.
“I see a softness internationally that’s very frustrating, and I see a lack of leadership internationally that’s very frustrating,” Friedman said.
It is my understanding that the federal police in Antwerp are looking into the matter. Friedman said there has been communication between Belgian authorities and those here in the United States, though it is not entirely clear at this point where exactly the fraud took place and, therefore, which law enforcement agency would have jurisdiction in the case.
I also was told by a separate source that India’s Gem and Jewellery Export Promotion Council (GJEPC) called the owner of the offending company into their offices to question him about what happened, and
When I emailed the GJEPC to ask them about this meeting, I received no response.
Here in New York, the Diamond Dealers Club of New York has ignored numerous calls and emails from National Jeweler, though club President Reuven Kaufman did tell IDEX Online’s Edahn Golan that the DDC was “distressed” -- “profoundly,” nonetheless -- by the incident. It called for those involved to be “severely punished” by the bourses.
As Golan wisely points out in the fourth paragraph, as well as in this column, the DDC is not the first organization to release a statement calling for something to be done and, yet, not much has. Chaim Even-Zohar, the longtime industry journalist who broke the undisclosed synthetics story, issued a similar call in this recent subscription-required editorial.
In the wake of the scandal, the DMIA was among those organizations quick to shoot out a call-to-action news release. “It is unacceptable for industry organizations to sit idly by and pay mere lip service to problems and threats as they come to our industry, and industry leaders must be proactive and fearless in fulfilling their fiduciary responsibilities,” the DMIA said. “The commitment to criminal prosecution is mandatory in stopping this abhorrent behavior.”
Now it's time to see if the industry can put its words into action, both here and overseas.
The Latest
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.