Questions and Answers About Buying Diamonds
Diamonds and the Community – Facts
An estimated 5 million people have access to appropriate healthcare globally thanks to revenues from diamonds. Conflict diamonds have been reduced from approximately 4% to considerably less than 1% since the implementation of the Kimberley Process in 2000. Diamond revenues enable every child in Botswana to receive free education up to the age of 13. Diamonds account for 33% of the GDP (approximately $3.3 billion) of Botswana. Since independence in 1966, the year before diamonds were discovered in Botswana, GDP annual growth rate has averaged 7% per annum. The diamond mining industry generates over 40% of Namibia’s annual export earnings. The revenue from diamonds is instrumental in the fight against the HIV/AIDS pandemic in Africa. Major world leaders – including Nelson Mandela - have cited the importance of diamonds to the lives of African people.
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Blood Diamonds (or Conflict Diamonds)
These diamonds are no different from any other diamond except that they are mined in a number of war-torn regions, usually in Africa under the most dreadful working conditions, and more often than not violating basic human rights. The people responsible sell these ‘blood diamonds’ to fund their illegal and unethical practices; often they are rebels attempting to overthrow their governments. Anyone knowingly or unknowingly buying ‘blood diamonds’, is effectively funding such military operations which will include the bribery and coercion of officials, the acquisition of guns, ammunition and other necessities of war. The Kimberley Process was introduced by the United Nations General Assembly in 2000 as a means of certifying the origin of rough diamonds from sources which are free of conflict. All diamonds supplied by Diamond Global Sales have been through the Kimberley process and are certified by GIA or IGI. In order for GIA or IGI to certify a diamond they require proof from the cutters that the diamond has been through the Kimberley process.
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FAQ
Why you should buy a real diamond and not an artificial diamond?
A – The reason is very simple. Artificial diamonds can be replicated within a laboratory and their value does not increase over time when compared with natural diamonds. A print of a masterpiece by a famous artist isn’t as valuable as the original.
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Why you should buy a real diamond over investing in a diamond mining company?
A – Great care is needed here because of the 170 listed diamond mining companies; only 20 to 25 are actually producing diamonds. Also these companies are linked to market sentiment and so can be volatile as seen with recent disasters such as the Gulf of Mexico oil spill and the Chilean and New Zealand mining disasters; share prices can diminish while the commodity price either increases or remains stable.
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How do I know my diamonds from Diamond Global Sales are not from a conflict region?
A – All the stones we handle have been through the Kimberley process, and as such they have been certificated by one of the leading gemmological institutes; the G.I.A (Gemmological Institute of America) or the IGI (International Gemmological Institute).
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Can I use the diamond as jewellery?
A – Of course you can, it’s your diamond and you take full ownership/control of it. It does not diminish the value and in some cases can add to it. If you wish to have it set, this is something we can help with.
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Why you should use Diamond Global Sales and not a Jeweller?
A –The difference between us and a jeweller is that we only deal with the top 1-2% of the diamond market and we offer full brokerage services, aiding from the buying of the stones to the sell through and valuations. We are the first point of contact for our clients about movements within the diamond industry. Even though the diamonds can be used for jewellery purpose, they are predominantly for investment use.
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What is the largest diamond ever found? A – The largest diamond ever found is the Cullinan diamond (3,106 carats).
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