Chapter 1 Flashcards
Diamond value chain
A sequence of sectors and processes involved in the production of diamonds.
What retailers must to consider today?
Today’s diamond retailers must consider different geographic markets and generations of consumers.
Where is second largest diamond consuming market?
China
Where is largest diamond consuming market?
USA
What is critical for today’s diamond market?
Understanding the buying habits of different consumer groups.
Why determining whether diamond is natural or lab-grown is challenging?
It’s challenging due to improvement in diamond growth technology and treatments.
The ability to verify the history of a stone through the supply chain.
Traceability
The major challenges diamond retailers face.
Identification, branding, sales channel development, and traceability,
Which diamonds are challenging to identify as treated?
Melee diamonds 0.01 to 0.15 ct.
What aids the identification of lab-grown and treated diamonds?
Understanding natural diamond formation.
Why widely accepted diamonds grades are important?
Widely accepted diamond grades make possible for people to discuss diamonds accurately with or without the stones in hand.
Which diamonds are graded more thoroughly?
Large, high-quality diamonds are graded much more thoroughly than small, low quality diamonds.
What is appraisal?
Appraisal is an estimation of an article’s value, usually for insurance purposes.
What allows grading report?
Diamond grading reports present the quality of a diamond and allow buyers to make sure the stone matches the report.
What is at beginnig of the diamond value chain?
Exploration and mining.
