DIAMONDS
MITHIBAI : BMS
DIAMONDS
Diamonds have been a source of fascination for centuries. They
are the hardest, most imperishable, and the brilliant of all
precious stones. Diamond is a mineral a naturally crystalline
substance the transparent form of pure carbon. It is indomitable,
the hardest surface known. This King of Gems symbolizes purity and
strength. Diamond is for engagement and the 75th wedding
anniversary, for a commitment to never ending love. The word
diamond comes from the Greek word adamas, meaning
unconquerable.
The formation of these exotic diamonds began very early in the
earths history. After being formed in the interiors of the earth,
the diamonds were shot to the surface by extraordinary volcanoes. A
diamond is likely the oldest thing you will ever own, probably 3
billion years in age, fully two thirds the age of the Earth.
Out of every batch of 10 diamonds made in the world, 7.5 are
made in India. It shows that India has established itself as the
world's largest diamond processing center. In India, the diamond
processing units are mainly located in Gujarat, particularly in
Surat, Navsari and some parts of Saurashtra & north Gujarat
region. About 80% of country's diamond processing work is being
done in Gujarat, out of which more than 50% is conducted at Surat
only. The diamond processing industry in India, thus, is quite
unique as it is developed at one location in an industrial cluster.
Surat city is known as diamond city of India.
The Industry comprises of about 2000 units of cutting &
polishing out of which about one third are located in Surat. It
employs about 15 lakh people directly and provides employment
opportunities to more than 25 lakh people. Their wage bill comes to
Rs. 1500 crore per annum. An investment of Rs. 5 crore in this
sector creates an employment for 1000 people. The industry is,
thus, a
major employer.
The processing capacity of each unit ranges from 4 to 400
carats, while production capacity depends on the type, shape and
size of the diamond; it also depends on the skill of the
workers.
There are about 7000 different types of diamonds. The processing
is done through ingeniously manufactured and manually operated
machines.HISTORY OF DIAMONDS
From myths about valleys of diamonds protected by snakes, to the
production of millions of carats in rough diamonds each year, the
history of diamonds is one of mystical power, beauty and commercial
expertise. The stages in the history of diamonds are as
follows:-
EARLY HISTORY
The first recorded history of the diamond dates back some 3,000
years to India, where it is likely that diamonds were first valued
for their ability to refract light. In those days, the diamond was
used in two ways-for decorative purposes, and as a talisman to ward
off evil or provide protection in battle.
DARK AGES
The diamond was also used for some time as medical aid. One
anecdote, written during the Dark Ages by St Hildegarde, relates
how a diamond held in the hand while making a sign of the cross
would heal wounds and cure illnesses. Diamonds were also ingested
in hope of curing sickness.
MIDDLE AGES
During the Middle Ages more attention was paid to the worth of
diamonds, rather than the mystical powers surrounding them. The
popularity of diamonds surged during the Middle Ages, with the
discovery of many large and famous stones in India, such as the
Kohinoor and the Blue Hope. Today India maintains the foremost
diamond polishing industry in the world.
RECENT TIMESDuring the mid-nineteenth century, diamonds were
also being discovered in eastern Australia. However, it was not
until late 1970's, after seven years of earnest searching, that
Australia's alleged potential as a diamond producer was validated.
On October 2nd 1979, geologists found the Argyle pipe near Lake
Argyle: the richest diamond deposit in the world. Since then,
Argyle has become the world's largest volume producer of diamonds,
and alone is responsible for producing over a third of the world's
diamonds every year.
COMPOSITION
Diamond is carbon in its most concentrated form. Except for
trace impurities like boron and nitrogen, diamond is composed
solely of carbon, the chemical element that is fundamental to all
life.
But diamond is distinctly different from its close cousins the
common mineral graphite and lonsdaleite, both of which are also
composed of carbon. Why is diamond the hardest surface known while
graphite is exceedingly soft? Why is diamond transparent while
graphite is opaque and metallic black? What is it that makes
diamond so unique?
The key to these questions lie in a diamonds particular
arrangement of carbon atoms or its crystal structure-the feature
that defines any minerals fundamental properties. A crystal is a
solid body formed from the bonding of atomic elements or compounds
in a repeating arrangement.
CUTThe cut of a diamond refers to its proportions. Of the 4Cs
the cut is the aspect most directly influenced by man. The other 3
are dictated by nature.
A diamond in its natural, uncut state is described as a "rough
diamond". Its natural appearance so resembles a glass pebble that
most people would pass it by without a second glance. It is the
skill of the diamond cutter that unlocks the brilliance for which
diamonds are renowned.
If two identical diamonds are placed side by side and one is
less brilliant and fiery than the other, the fault lies in the
cutting. Such a stone cannot demand as high a price as a well-cut
diamond.
Quite often the cut of a diamond is confused with its shape.
Diamonds are cut into various shapes depending upon the original
form. Whatever the shape, a well cut diamond is better able to
reflect light.
A diamonds ability to reflect light determines its display of
fire and brilliance. Diamonds are usually cut with 58 facets, or
separate flat surfaces. These facets follow a mathematical formula
and are placed at precise angles in relation to each other. This
relationship is designed to maximize the amount of light reflected
through the diamond and to increase its beauty.
Types of Cuts Well Cut: When a diamond is cut to proper
proportions, light is reflected from one facet to another and then
dispersed through the top of the stone. Within the well cut
standards are the sub-categories of Ideal, Excellent &Very
good.
Deep Cut: Then the cut of a diamond is too deep some light
escapes through the opposite side of the pavilion.
Shallow Cut: When the cut of a diamond is too shallow, light
escapes through the pavilion before it can be reflected.How Do I
Know If a Diamond Is Well Cut?A well cut diamond is the secret to a
beautiful and brilliant diamond. Like beauty itself, the true
meaning if well cut is often found in the eye of the beholder.
While you may prefer a particular set of proportions, someone else
might prefer slightly different proportions. Personal preference
even among experts will always be an issue in defining the best
cut.
KINDS OF DIAMONDS
Ideal: This range is very strict and combines the best in
brilliance and fire. Technically, the head of the class.
Excellent: This range is also of great beauty yet slightly more
flexible regarding percentages. Many experts prefer the appearance
of this range to ideal.
Very Good: This range is balanced between precise proportions
and price considerations. Viewed by many as the best overall value
in beauty and price.
Think of Ideal, Excellent and Very good as rings in a bulls eye.
These classifications for cut represent an acceptable range for
that category. The ranges narrow as you move toward Ideal at the
center. Ideal has the narrowest range, with excellent slightly
larger and Very Good the largest. All three of these categories
fall within the well cut classification. In many cases the visual
differences from one classification to the next are so small they
may be indiscernible to the naked eye.
The cut, or proportions, of a diamond is measured in percentages
relative to the diameter of its girdle. The girdle diameter of each
diamond is always considered 100%.
Example: The girdle of a diamond measures 10 millimeters (100%)
the table measures 5.6 millimeters. The total depth measurement is
6.1 millimeters. The diamond would be described as having a table
of 56% and a depth of 61%. The table and the depth are the key to
determining good proportions.
COLOROur standard conception of diamond is as a colorless stone.
The best color is no color. Diamonds allow light to be reflected
and dispersed as a rainbow of color. Diamonds are graded into
categories defined by letters from D to Z. The color range from
exceptional whites (categories D, E and F) to tinted colors
(categories M to Z). The best way to pinpoint a diamond's true
color is to place it next to another diamond that has previously
been graded.
It is often surprising to learn that diamonds also occur by rare
accidents of nature in shades of pink, blue, green, amber, or even
red. These rarely occurring colors are referred to as fancies and
are evaluated by a different set of color standards. These
standards take into consideration various factors such as hue and
saturation. Fancy colored diamonds are the most expensive because
of their extreme rarity. Some fancy colors can cost hundreds of
thousands of dollars for diamonds of one carat or less!
Chemically-pure, a perfect crystal of diamond is colorless, but
adds a little nitrogen and yellow appears. Add boron instead and a
blue diamond results. Colored diamonds are hot, both in the market
place and in science.
CLARITY
Almost all diamonds contain very tiny natural birthmarks known
as inclusions. To determine diamonds clarity, an expert views it
under 10 power magnifications. In addition to internal inclusions,
surface irregularities are referred to as blemishes. These two
categories of imperfections-inclusions (internal) and blemishes
(external) - make up clarity. The fewer the imperfections, the
rarer and more valuable the diamond. Many inclusions are not
discernable to the naked eye and require magnification to become
apparent.
Contrary to the popular belief, higher clarity does not always
mean more beautiful. If the inclusions are not visible to the naked
eye, a higher clarity does not really improve the appearance of a
diamond but rather the rarity and price. A higher clarity is more
desirable and valuable.
Like color, clarity is also categorized using international
grading. Clarity is graded using a very precise and complex method
of evaluating the size, location, and visibility of inclusions.
Alongside is the technical clarity scale with a description of
each term.
CARAT WEIGHTA carat is the unit of measure used to determine the
weight of a diamond. The term "carat" is derived from the original
method of using carob tree seeds to weigh diamonds. One seed from
this tree was equivalent to one carat.
The actual weight of one carat is now established at 0.2 grams.
To assist in accurately describing the weight of diamonds each
carat is divided into 100 points. Diamonds of less than one carat
in weight are known as "pointers". For example, a 0.15-carat
diamond would be called a "15 pointer".Diamonds are usually weighed
prior to setting for more accurate measurements. Diamonds are
priced per carat, according to their size and quality. Although the
carat weight of a diamond is indicative of its size, it is not
necessarily indicative of a diamond's quality. Therefore, where two
diamonds have the same carat weight, the one of better quality will
command a higher price per carat.
How rarity affects size?
The rarity of a diamond is greatly affected by its size. The
rarity of a 1.00-carat diamond is much greater than twice that of a
.50 carat. Although it only weighs twice as much, the 1.00 carat is
statistically much more difficult (rare) to mine than the .50
carat. For an easy comparison of price and size, see the table
alongside. Prices are approximate and based upon D Color,
internally flawless, excellent cut.
SHAPES
Diamonds are cut in many different and exciting shapes. The
shape of a diamond is often confused with its cut. Shape refers to
the basic form of the diamond: oval or pear shaped, for instance.
Cut or proportions, on the other hand, refer to the ability of each
of these shapes to reflect light. A round diamond, for example,
could have a good cut or a poor cut depending upon its proportions.
When it comes to shape, it is simply a matter of personal taste.
The right shape for you is really the one whose appearance you
prefer. Shape can be a statement of whom you are; like other areas
of fashion, shape can reflect your individuality. The most popular
shapes are displayed here, but many new and interesting shapes are
being developed every year.
TYPES OF DIAMONDS
Synthetic Diamonds
Synthetic diamonds are artificial diamonds that have been
created in a laboratory. By varying the heat and pressure during
formation,adding foreign elements,and irradiating the finished
crystals,synthetic diamonds can be made to imitate natural colored
stones. There is currently a wide spectrum of synthetic colored
diamonds available. The main difference between naturally-formed
diamonds and synthetic diamonds is that synthetic diamonds usually
have higher concentrations of impurities, such as nitrogen, and
remnants of metal catalyst. This means they are often yellow- or
brown-colored, which is why they aren't used as gems but as cutting
tools. But some synthetic diamonds can now be made so pure that
they are virtually indistinguishable from natural stones. There are
some sophisticated ways to tell them apart; using optical
spectroscopy and X-rays, but it's difficult. In fact, the diamond
gem company, de Beers, have a company called the 'gem defense
league' whose job it is to look at all the new high quality
synthetic diamonds being produced, and devise ways to tell them
apart from natural stones.
Treated Diamonds
Treated diamonds are natural diamonds that started out with an
unappealing or slightly off color. By exposing these less desirable
stones to the same high-tech alchemy used to create synthetic
colored diamonds,the apparent color and appearance of these
diamonds can be significantly improved. Recently we have seen
treated diamonds with vibrant yellowish green,red and blue colors
enter the market.
Natural fancy color diamonds are significantly more valuable and
rarer than comparable treated or synthetic stones. Although treated
and synthetic diamonds can be beautiful in their own right,the
origin of their color should be fully disclosed by the seller. They
should also cost significantly less than natural diamonds. Ethical
practice and the law require that synthetic gemstones and
treatments be fully disclosed to consumers. Unfortunately,this does
not always happen. As always,be careful!
Natural Fancy Color Diamonds
Natural fancy color diamonds are significantly more valuable and
rarer than comparable treated or synthetic stones. Although treated
and synthetic diamonds can be beautiful in their own right,the
origin of their color should be fully disclosed by the seller. They
should also cost significantly less than natural diamonds. Ethical
practice and the law require that synthetic gemstones and
treatments be fully disclosed to consumers. Unfortunately,this does
not always happen. As always,be careful!
DIAMOND BUYING TIPS
Ask the jeweler to clean the diamond. Cleaning is best done by
steaming or by ultrasonic cleaner
View the diamond against a white background. Use a diamond
grading trough or a pure white business card to view the diamond
against. Tilt the diamond and look at it from the side under a
daylight fluorescent light if possible. Look for a yellow tint -
the best diamonds are colorless like an ice cube.
Get all facts on the bill of sale. Make sure all pertinent facts
- carat weight, color grade, clarity grade, cut, and exact
dimensions are put on the bill of sale.
Verify facts with a gemologist. If the diamond is one carat or
larger, it should be accompanied by a laboratory report. If not,
make the sale contingent on verification of the facts by a
qualified gemologist or testing lab.
Decide what is important to you. Most diamond purchases are a
compromise. Decide if size (weight), color or cut is more important
to you. Know what you are getting and then get what you pay
for!
Strengths: One million craftsmen associated with it. their
skills can be harnessed for designing and making modern
jewellery
Abundance of cheap and skilled labor in India.
Excellent marketing network spread across the world.
Supportive government industrial/ exim policy.
Weaknesses: High domestic interest rates compared to
elsewhere
Small firms lacking technological/ export information
expertise.
Low productivity compared to labor in china, Thailand and Sri
Lanka.
As the major raw material requirements need to be imported,
companies normally stock huge quantities of inventory resulting
high inventory carrying costs.
Opportunities: New markets in Europe & Latin America
Growing demand in south Asian & Far East countries.
Removal gold control act.
Threats: China, Sri Lanka and Thailand's entry in small diamond
segment
Infrastructural bottlenecks, frequent changes in exim policies,
irregular supply of gold.
Over dependence on single-channel supply chain. Decisions of De
Beers and Argyle's terms for renewing their supply contract.
IMPORT
INDIAN ROUGH IMPORTS UP NEARLY 60%
December16, 2003
Rough diamond imports to India during November 2003 were
15,653,000, worth US$563.9 million, marking an increase of 57.33
percent in terms of carats over the previous November, and 59.29
percent in terms of dollars.
Rough exports increased by over 500 percent in dollar terms
diamonds worth US$70.8 million were exported in November 2003 as
compared to exports worth just US$11.4 million in November
2002.
Polished diamond exports from India in October 2003 decreased by
16.5 percent as compared to the previous November in terms of
carats, while in terms of dollars, such exports increased by 28.39
percent.
Carats$Carats$Carats$
Net Imports of Rough
diamonds15,653,000563,890,0009,949,000354,010,00057.3359.29
Net Exports of Rough
diamonds3,385,00070,790,0001,947,00011,380,00073.86522.06
Polished2,403,000516,800,0002,878,000402,530,000-16.528.39
EXPORTIndia's Exports of Cut & Polished Diamonds to Major
Markets (In Rs crore)
COUNTRY1997-981998-991999-20002000-01
USA6050.847972.5610546.519702.33
Hong Kong4056.885114.657790.07570.26
Belgium2881.03651.023955.014122.97
Japan1155.641450.211955.721700.16
Israel764.061016.011588.851213.92
Thailand324.41401.74698.66815.21
Switzerland268.89408.51474.09501.56
UAE193.04263.12583.241180.49
Singapore231.53269.79424.17462.23
Germany120.93158.88185.6163.15
UK80.74146.45153.82179.47
Australia58.284.85106.95102.75
Others397.38137.53245.76328.91
Gross Exports16583.5421075.3228708.3828043.41
Net export16579.4521074.1228706.5128041.8
India's position in cut and polished diamonds exportsvis--vis
competition countries (In US$ million)COUNTRIES
Israel2741.032820.002.88
Belgium656.00803.0022.41
India5259.966354.4620.81
For over 115 years DeBeers Diamond Trading Company has been
synonymous with diamonds and has practically monopolized the
diamond industry. The company leads the world in diamond
exploration, mining, recovery, sorting, valuation and marketing.
They force out any and all competition by ruthlessly controlling
the diamond supply. They have access to all the trade-ways, use
cheap labor, and they are not afraid of making a few under the
table threats if it means scaring somebody out of trying to take a
piece of their pie.
Through its selling arm, the Diamond Trading Company (DTC) based
in London, De Beers markets some two thirds of global supply, and
has conducted a renowned diamond advertising and promotion campaign
for over half a century. The company is currently committed to
exploring ways to exploit the value of its brand.
CASE STUDY 1
Diamonds are one of the biggest scams ever perpetrated on the
American public. They're incredibly common -- if there were a real
free market for diamonds, they would be worth a few dollars each.
But virtually every diamond in the world is sold by ONE company --
De Beers. It's not just a monopoly -- it's the monopoly to end all
monopolies. Because they control just about every diamond mine in
the world, they keep production very low, helping to keep prices
high. That's part of why diamonds are so expensive.
But wait -- what about the symbols of love part? In 1938, De
Beers hired one of the largest American ad agencies to convince the
American public that diamonds mean love. They've been tremendously
successful. How did they do it? A few ways. First they went after
newly developing Hollywood -- they convinced starlets to wear
diamonds and screenwriters to use them as symbols of love. Fashion
designers were hired to talk about the "trend towards
diamonds".
In 3 years, diamond sales increased 55%. But that wasn't enough
-- they needed total market domination. They invented a new color,
"diamond blue.
By 1960, they had convinced an entire generation that a diamond
was a fundamental part of an engagement. It was a necessity --
there was no excuse for not having one. If a mancould not afford
one, he was pressured to wait until he could before proposing.
When the Soviets made a deal to sell all their diamonds to De
Beers, De Beers had a problem. Diamonds from the Siberian mines
were very small, and De Beers had spent decades teaching Americans
that larger was better. Their response: they began pushing photos
of smaller rings. An entire campaign was designed to teach people
that small diamonds were just as symbolic of true love as larger
ones. They also began a campaign to convince Americans that
diamonds weren't just for engagement -- any important occasion
warranted a diamond.
So then De Beers came up against a new problem. "Diamonds are
forever" is right -- De Beers produces new diamonds every year, but
the old ones don't wear out -- so what happens if people try to
sell their diamonds? That could destroy their profit margins!
Solution: Americans were convinced that diamonds are important to
hold on to. Even if you inherit a diamond, it cannot be sold --
that would violate the memory! Today, very few jewelry stores will
even buy "used" diamonds, and potential sellers are restricted to
pawn shops and other such places where they get a tiny percentage
of the stone's market value. Result: diamonds are a terrible
investment because they cannot be resold, but no one perceives them
this way.
CASE STUDY - 2
Child labor
India processes small diamonds, using traditional
labour-intensive methods. About 1.5 million people are employed in
the diamond industry, mostly in the unorganized sector.
With a few exceptions, workplaces in these industries are
normally congested, poorly lit and poorly ventilated.
Children are also working under similar conditions. In the Surat
area, one out of ten workers in the diamond polishing industry is a
child. The 1996 survey carried out under the National Child Labor
Policy Project showed that in this area; up to 40 per cent of the
wage earners in a family are children. In addition to the children
who live at home and are sent to work, there is also a group of
children in Surat who live within the workshop itself and work from
a very early age.
Interviews with workers in the diamond industry in Surat who
send their own children to work revealed that these were the
workers who were not artisans and who were at the bottom of the
ladder both economically and socially. Their own work was very
irregular and dependent on the power supply to the industry: no
electricity, no work. They prefer that their children work in the
diamond industry and perhaps acquire the skills of an artisan
rather than go to school, because they have no faith that education
from the school system will help their children find regular
jobs.
However, it is mostly workers from the lowest rungs of the
ladder in the diamond industry who send their children to work at
an early age. Children of artisans, like diamond polishers,
normally go to school for several years before starting their
apprenticeship, and children of workshop owners and traders never
work as children, even though they normally enter the diamond trade
after completing their education.
There are no reliable statistics on the number of children
employed in this industry. Official and unofficial estimates vary
between 10,000 and 20,000.
Children in the gem polishing industry are engaged ostensibly as
apprentices, but in fact provide cheap labor. The learning process
takes five to seven years. During the first two years the child
does not receive any wage except for occasional remuneration and
works for ten hours a day. By engaging a child the ustad (master)
contractor saves around Rs. 150- 200 a month at this time. After
two years the child is paid Rs. 50 a month, when he actually does
work worth Rs. 250-300 a month, at the very least. Once the child
has spent three or four years and has started learning to make more
facets, he or she is worth at least Rs. 300 to 400, but is paid Rs.
100 a month. By the time the child is 14 or 15 years old and has
acquired the skill of gem polishing, he would be earning Rs.
150-200 a month whereas an adult would get Rs. 500-600 for the same
job. This is the juncture at which the contractor retains the
services of the child in order to reap maximum benefit.
To all evidence, cheap or free labor seems to be the main reason
why employers in the diamond and gemstone industry in India prefer
to use children. In this respect the diamond and gemstone industry
is different from other industries in India.
In the course of the workshop, efforts were made to develop
strategies which trade unions could employ in a concerted effort to
eliminate child labor from the diamond and gemstone industry in
India. Three major avenues were found:
First, the trade union movement is under a clear moral
obligation to bring to light and denounce child labor in the
industry in question. Public awareness campaigns, especially in
countries where there is a large market for diamonds, had to be in
the vanguard. These campaigns must be skillfully conducted and
always complemented by other initiatives. Their aim should be to
encourage employers to negotiate an agreement to eliminate child
labor, to campaign for governments to take action, and to motivate
consumers to support positive action.
Second, the diamond industry is one, which is very tightly
controlled from the top, since the distribution of rough diamonds
for processing remains in the hands of a small group. This control
can also be used to reduce child labor in the industry.
SAPPHIRES
Sapphire is Aluminum Oxide Corundum. This gemstone is one of the
most popular gemstones sought after. It comes in almost every color
but red, in which case it is a Ruby. Sapphire is the birthstone for
September.
The popular colors it comes in are: Blue, purple, violet, green,
yellow, green, colorless, pink, orange, and black. All colors come
light to dark. Sapphires come with 6-ray stars and some sapphires
have color change ability.
Sapphire symbolizes truth, sincerity, and constancy. It was
believed to protect the wearer against capture by an enemy and to
win the favor of princesses. It also protected against poison. The
Sapphire originally comes from Sanskrit. It became sapphires in
Greek, meaning blue.
Sapphires come from Thailand, Sri Lanka, Australia, Burma,
Africa, Cambodia and Montana; U.S.A. Kashmir Sapphires are
encountered today, even though the mines in that area are not
presently being worked. The term is applied to velvety
violetish-blue stones (so-called cornflower blue) that are not
exceedingly transparent. This lack of transparency produces a
"velvety blue" appearance, unlike that of other blue Sapphires.
Occasional, stones mined in Burma and Sri Lanka have the same
appearance as the Kashmir grade. . If a Sapphire can be proved to
be un-treated it is worth 10% more.
RUBIES
Ruby is an Aluminum Oxide, a variety of Corundum. This gemstone
is one of the most popular and sought after.
It comes in the color of red, violetish-red, pinkish-red and
brownish-red. The red color is caused by minute traces of chromium.
Ruby is the birthstone for July.
Hardness is 9 and toughness is excellent. This gemstone will
take more abuse than most all others.
The Burmese believed that "blazing red" stones could be found in
a "bottomless" valley. Natives threw pieces of meat into the valley
hoping that some stones would cling to the meat and would be eaten
by vultures. The stones could then be recovered by killing the
vultures. The legend connected with Ruby is that the wearer was
blessed with health, wealth, and wisdom, as well as enormous
success in affairs of the heart.
Ruby mining has always been primitive. The mine is essentially a
well, hand dug, to a depth of 10 to 30 feet. A man is lowered by a
rope pulley system to the bottom, where he scrapes up layers of
gravel. The gravel is then lifted in buckets to the top of the
well. When the day's scraping is finished, the miners sort the
gravel for possible ruby crystals. Mining for ruby rough has been
going on since prehistoric times in this way and is still in use
today.
Passion, excitement, luxurious opulence...these are just a few
words that describe our fascination with this most precious of
gems. For thousands of years, men have sought to own precious
rubies as symbols of devotion and objects of desire. Imperfections
and impurities may be removed by controlled
For our Presentation I interrogated 5 diamond merchants. I asked
them a series of questions on the imports and exports and other
general information on diamonds in general and this is what I
analyzed.
1st I asked them what the main characteristics that they took
into consideration were?
All the diamond merchants gave full priority to the 4 Cs namely
Cut, Carat Weight, Color, Clarity.
Secondly, taking the different type of cut into consideration I
asked them which cut they would prefer.
They had a common answer of making a diamond in a Well cut
shape.
Thirdly the profit margins of every diamond merchant have varied
between 5 % to 15%
As per the clarity scale the diamond merchants purchase diamonds
according to VSI, IF, F which are considered to be very good for a
perfect diamond.
The rest of the questionnaire analysis has been done in the form
of Pi- charts and bar diagrams:
A diamond is likely to be the oldest thing you will ever own,
probably 3 billion years in age.
Diamonds are fluorescent and phosphorescent i.e. when a diamond
is kept under an ultraviolet light it gives out blue coloration and
some diamonds continue glowing even after the ultra violet source
is turned off.
Diamonds display the maximum amount of reflectance for a
transparent substance, displaying what is known as adamantine
luster.
Diamond is an insulator i.e. non-conductor of electricity.
However rare diamonds, particularly the gray to blue ones, are
semi-conductors.
It repels water but readily accepts wax and grease which is n
unusual property for a mineral.
Diamonds posses the quality to extract/conduct the heat away
from our body.
The diamonds two most valued attributes i.e. brilliance &
luster are because of its great ability to refract light i.e. to
bend or slow light as it passes through it.
According to Mohs scale (hardness measuring scale for minerals)
diamond is the hardest substance/mineral.
Diamond is thousand times harder than corundum, the next hardest
substance according to the Mohs scale.
Moissanite is a gem stone that looks so much like a diamond, it
even fools most jewelers. It is responsible for raising a problem
in the diamond industry which is founded largely on consumer
trust.
The major supplier of diamonds into the Indian market is the Rio
tinto- controlled by Argyle mine in Western Australia, followed by
De Beers/ CSO diamonds and a small but growing illicit trade in
diamonds smuggled out of Russia.
The big four diamond cutting centers are Antwerp (Belgium), New
York (USA), Ramat Gan (Israel), Mumbai (India).
The big four cutting centers are also the main diamond trading
stations, with the addition of Hong Kong, which services buyers in
Asia.
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