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Is This the Start of a Comeback for the Diamond Industry?

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Smaller diamond producers have their doubts.

In the face of decreased worldwide demand for diamonds, Bloomberg explores the potential impact of recent big sales by the two world’s largest producers, De Beers and Alrosa PJSC, who consequently have the biggest influence over prices.

The article explains how both companies recently sold a combined $1 billion in diamonds, though the CEOs of two smaller diamond producers are expressing doubt that it portends good things to come. William Lamb, CEO of Lucara Diamond Corp., told Bloomberg that it will be “very difficult to maintain the current exuberance of the market.” In the same vein, Firestone Diamonds CEO Stuart Brown called January “a good start on that road to recovery” but cautioned: “Time will tell. You don’t get any prizes for being bullish in this industry.”

Earlier this year, De Beers slashed diamond prices in response to slowing demand in China, which led to a giant $540 million sale in January. Industry guru Martin Rapaport later advised De Beers to not overprice rough diamonds “that result in a sharp decline in diamond manufacturing, polished shortages and bullwhip effects that increase volatility and uncertainty.”

Read more at Bloomberg

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When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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