Connect with us

Press Releases

WFDB Executive Committee Debates Vital Industry Topics at Israel Diamond Exchange Meeting

They also approved the appointment of an external advisor – former Dubai Diamond Exchange Chairman Peter Meeus.

mm

Published

on

WFDB Executive Committee Debates Vital Industry Topics at Israel Diamond Exchange Meeting
Members of the WFDB executive committee during the meeting at the Israel Diamond Exchange.

(PRESS RELEASE) ANTWERP, BELGIUM — The World Federation of Diamond Bourses (WFDB) held an executive committee Meeting at the Israel Diamond Exchange on Monday, discussing a wide variety of subjects vital to the industry, as well as moves to enhance the relevance of the organization. The executive committee also heard a review of synthetic diamonds and the state of the diamond trade globally from Martin Rapaport, as well as a presentation on Blockchain which it believes is the future.

Among the other issues discussed was the System of Warranties, led by London Diamond Bourse President Alan Cohen, and the WFDB social media campaign being run by Rami Baron, president of the Diamond Dealers Club of Australia.

The executive committee approved the appointment of an external advisor – former Dubai Diamond Exchange Chairman Peter Meeus.

Martin Rapaport spoke of the growing role of lab-grown diamonds and how the diamond trade needs to point out to consumers that such stones are not a store of value and that their price will eventually fall substantially. He also spoke about the general state of the diamond trade, saying that the Chinese market was reasonable and the US market was strong.

He spoke about the difficulty of sales to Millennials, and that the core US engagement ring sector was not particularly strong. Meanwhile, the midstream part of the pipeline is under extreme pressure. He also raised other issues for discussion, such as the need for increased transparency and origin of supply.

“We had an extremely productive meeting with robust debates on a wide range of topics,” said Blom. “In such challenging times for the global diamond trade, it was vital to hear the views of executive committee colleagues from across the world ahead of the Presidents Meeting in Dubai in September. We will receive updates at that meeting on the issues raised here and also on a number of other important topics.

Advertisement

“In conclusion, I would like to thank the Israel Diamond Exchange for its generosity in hosting the executive committee meeting.”

Advertisement

SPONSORED VIDEO

Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular