Better Diamond Initiative Newsletter June 2017

BDI NEWSLETTER - JUNE 2017

We bring you the round-up of latest news, events, trends and developments in the diamond and jewelry industry

Lab-grown Diamonds 1. MiaDonna Recognised as one of 100 fastest growing private companies in Oregon

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MiaDonna, a major retailer in the Lab-grown diamond industry was recently awarded Portland Journal’s 100 Fastest – Growing Private Companies in Oregon. The recognition was given for the company’s continued financial growth. An increase in sale last year because of its advancements in technologies for creating Lab-grown diamonds and increased customer demand has resulted in MiaDonna’s growth. Read more… Diamond Industry 2. Signet files fourth consecutive Conflict Mineral report Signet Jewelers recently became the only US jeweler to file a conflict mineral report for the fourth consecutive year. It was filed in accordance with Section 1502 of the Dodd-Frank Act to the Securities and Exchange Commission (SEC). Section 1502 asks companies to voluntarily disclose conflict minerals. To file this report, Signet is associated with organisations like Diamond Development Initiative (DDI) and Responsible Jeweler Council (RJC). It also keeps track of the diamond supply chain by using inventory management software. Read more… Technology 3. Element Six introduces CVD diamond heat spreader The first electrically conductive CVD diamond heat spreader – Diaflim ETC700 – has been developed by Element Six, a giant in Lab-grown diamond supermaterials and member of DeBeers group. The material is said to be both thermally and electrically conductive and is suited to effectively manage heat in high frequency, high power density devices. The material is also said to be better than all other commercially available non-diamond heat spreader materials or metal solutions. Read more… Finance & Investment 4. Singapore Diamond Exchange to track diamonds through Blockchain Singapore Diamond Investment Exchange (SDiX) has successfully trailed its first part of a Proof-of-Concept of a blockchain based authentication and record keeping program for trading diamonds. SDiX has partnered with Kynetix – a blockchain-powered commodity marketplaces development company, and Everledger, who uses this technology to track diamonds. The diamond holders would be able to authenticate the certificates and ownership of the diamonds by using a distributed ledger, which would update whenever there is a change in the ownership of the diamond on SDiX. Read more… 5. How enigma of diamond prices is ripping off consumers Since 1982, when Edward Jay Epstein in his article in the Atlantic – ‘Have you ever tried to sell a diamond’ stated that diamond prices drop when you resell a diamond, nothing has really changed even today. While DeBeers had launched the second-hand diamond business last year, recently Blue Nile has also come up with diamond buyback program by partnering with NY-based Mondiamo. While, these programs addresses the opaque nature of diamond valuations, to find out the real buyback rate we tried to get some diamonds appraised through the Blue Nile buyback program. The offer range thus received showed approximately 51% depreciation in value. Moreover, in an undercover mission by diamond expert and jewelry restorer – Jacob Worth, it was revealed that luxury jewelry chains like Tiffany, Cartier, Van Cleef and Harry Wisnton overcharge diamonds between 253% and 336%. Read more…

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Better Diamond Initiative (BDI) is a collection of thoughts, opinions and news based on views, facts and reports published around the world on the diamond and related industry. If you would like to write for BDI or would like to share your opinions and feedback with us, we'll be glad to hear from you. Get in touch by sending an e-mail to contact@betterdiamondinitiative.org

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