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JCK: IDE president and leaders in the industry join hands to differentiate natural diamonds

 
The Las Vegas show ended this week. IDE president met with other bourse presidents: "we will act in every way possible for the complete separation of natural diamonds and synthetics”
 

The JCK show in Las Vegas, the largest and most important one in the USA (perhaps even in the world), ended recently.

This Show not only allows us to do what we all like to do (buy, sell and earn) but also enables us to meet face to face with buyers, supplier, friends and colleagues from across the globe.

The central issue raised at almost all the meetings was a significant article on the subject of synthetics, published by Martin Rapaport on the eve of the opening of the Show – an article coming at the same time as Rapaport’s request to discuss and vote on two important issues:

1. Whether to create a price list for synthetics.

2. Whether to establish a new international organization to head the world diamond industry.

 
 

The ISDE president Yoram Dvash said “These are vital issues and I was very happy to head a process, together with the President of the WFDB, that united all the members in a joint and unequivocal vote against the publication of a synthetic price list”.

Dvash also said that “At the same time, I considered it important to arrange a personal meeting with Martin Rapaport and hear from him what was behind the article he published and what his position is regarding the questions he raised for debate. It was also important to me to hear new ideas from him as to how to cooperate on preventing the disinformation and lack of transparency practiced by some synthetic manufacturers”.

Two other Presidents joined this meeting with Mr. Rapaport – Moshe Salem and Alex Popov – and after a lengthy and open discussion, it was clear beyond any doubt that Rapaport is in complete support of the natural diamond and said that he has no intention of publishing a synthetic price list. At this meeting, they decided that the Diamond Exchanges in the USA and Israel would cooperate together with Rapaport, with assistance from US congressmen and other factors, and would return to the FTC and try to change the mistaken decision made several months ago regarding the definition of synthetics.

President Dvash: “I am in no doubt as to the necessity of this cooperation and I hope that we will be able to restore the previous correct definition of synthetic laboratory grown diamonds and prevent misleading customers and damaging the industry”.

In addition to the meeting, a conference was also held, initiated by Rapaport, where he presented the results of his referendum on the burning issues at hand (synthetic price list yes/no, etc.). The results displayed at the conference were totally in line with our position and were unequivocal:

79% of those asked are opposed to publishing a synthetic price list.

74% are opposed to Rapaport publishing a price list designed for synthetics

88% support full disclosure of any kind of treatment.

And 85% support the establishment of a new international organization that would work to promote the natural diamond.

These results reflect the spirit in the world diamond industry during this period.

Yoram Dvash added: “I have no doubt that particularly during such a challenging and complex time it is imperative that all of us join hands and work in unison, together with anyone that can help in promoting the industry.

“We will continue to follow up, initiate and act in every way possible for the complete separation of natural diamonds and synthetics”.


 
 
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