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Press Release: The London Diamond Bourse (LDB) was pleased to receive a surprise visit from the Rapaport Group on November 4.
Martin Rapaport, the chairman of the Rapaport Group and founder of the Rapaport Diamond Report, and Ezi Rapaport, the director of global trading at Rapaport, came to the trading floor following a meeting with Harry Levy, LDB's president.
Martin Rapaport freely answered questions from members of the LDB and gave his opinions on current market conditions to an attentive crowd.
Notably, informal and healthy debate ensued on the subject of synthetic diamonds, with many opinions expressed on the most effective ways to proactively monitor these diamonds entering the marketplace. Martin Rapaport spoke extensively on the subject a day earlier during the Gem-A conference at Goldsmiths' Hall in London.
"The trading floor debate affirmed that there is agreement that the industry is working hard to protect the reputation of natural diamonds. One way to ensure that the diamonds are as stated, is to source goods from a member of the LDB. All our members are vetted as reputable, subject to various checks and undertakings before being accepted into our membership. Simply put, in the unlikely event that a member did not declare a stone as synthetic, they would be subject to the governance of our organization and the LDB has absolutely no tolerance for such goings on," said Victoria McKay, LDB's operations manager.
The London Diamond Bourse is a member of the World Federation of Diamond Bourses, which recently reaffirmed its policy that synthetic gems must be disclosed and the Federation (and in turn the LDB) will have a zero-tolerance for those who do not abide by this rule.
Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.
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