Headlines

Major Diamond Hub Takes Stand Against Undisclosed Synthetics

Published

8 years ago

October 7, 2016

The trading hub hopes to “lead by example and send a clear signal” on the issue.

The diamond industry in Antwerp, Belgium, is taking a stand against undisclosed synthetic diamonds by committing to a new set of rules starting next year.

The area’s four diamond exchanges will follow the guidelines of the World Federation of Diamond Bourses, according to Rapaport News.

Enforcement of the guidelines means there will be “an obligation to provide a clear description of goods on invoices and memo documents,” the website reports.

The policy also means that traders who don’t stick to the rules will be disciplined.

It’s important that the Antwerp diamond industry “lead by example and send a clear signal” on the issue of synthetic diamonds in order to ensure trust in the diamond business, said Willy Rotti, president of the Federation of Belgian Diamond Bourses, according to Rapaport.

Antwerp’s Diamond Quarter is the largest diamond district in the world.

Read more at Rapaport News

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”