Company Name, here's your weekly Diamond Club News!!

April 21, 2020

Vol. 3 - Ed. 15

Message From Antranig (Tony) Ayvazian, Co-VP

Dear Members,

My colleague Kalpesh took the macro angle, I’ll try to take the micro.

Business disruption, closing our offices and social distancing, and other steps have been taken to keep ourselves, employees and families, healthy. While we are not sure when “normal” life will resume, one thing is for sure (as Kalpesh mentioned), that we will bounce back stronger than ever. We will rely on one another (more than before), by helping and supporting each other.

This is where the DCWC comes into the picture. We will be like acrobats and DCWC will be our safety net. When we finally return to our offices, let’s support each other through the club.

The networking and other platforms of the DCWC will increasingly be handy in the efforts of reigniting and jump-starting our businesses. By doing that, we will be stronger and our Club will be stronger.

Finally, let’s not forget the effort that the WFDB is making to help its members overcome this global crisis; they are doing that by creating a new trading platform called

“Get-Diamonds” .

At this time, I would like to thank our president, Mr. Moshe Salem, who is playing a pivotal role in the creation of this platform.

DCWC TOGETHER

BE STRONG AND STAY HEALTHY

Sincerely,

Tony Ayvazian

Message From the Board of Directors

“When something bad happens you have three choices. You can either let it define you, let it destroy you, or you can let it strengthen you.” — Dr. Seuss

Update Your Information

As we get into the new membership year, we want all members to please ensure that their information is up to date.

If you have recently relocated or changed your company name, please send us the update: diamondclub.la@gmail.com

To verify your information log in to www.diamondclubwestcoast.com

Ernie Blom Steps Aside as President of WFDB

Ernest “Ernie” Blom (pictured), who has served as president of the World Federation of Diamond Bourses for the last eight years, has temporarily resigned from the post.

Yoram Dvash, the president of the Israel Diamond Exchange and a member of the group’s executive...

WFDB Launches GetDiamonds

Dear Client,

We are happy to announce that the international diamond industry has come together and joined hands in supporting and developing a new state-of-the-art trading platform - www.getdiamonds.com.

This new platform will allow us to publish our natural diamond inventories and communicate with our customers and suppliers. We support this initiative and would like to invite you to join us. Below is some information about the platform:

What is Get-Diamonds (GD):

In just 15 days since its launch, Get-Diamonds (GD) has already become the world’s largest B2B online platform for Read More

Spend some ‘stay home’ time with GIA

We know that many in our industry, including members of your organization, have been affected by the disruptions caused by COVID-19. In this difficult time, our thoughts are with you, your families and your business as you navigate the coming weeks and months.

Members are eligible for a 10% savings on

GIA Distance Education courses

This includes GIA eLearning Essentials courses covering...

Read More to Save

Letter to the Editor -

Effect of Over Supply of Diamonds

Since last Friday morning, April 17th, there has been a post circulating on WhatsApp that India’s Gem and Jewelry Council intend stopping imports of all rough diamonds for a month, roughly 10-15 days after the lockdown is supposed to end. Good news if that happens!

I found it very surprising that this notion was even a matter of consideration or discussion. With the current global socio-economic conditions due to the COVID-19 pandemic, I do not think that manufacturers (herein: “manufacturers” refers to Indian Manufacturers) would even consider importing more rough diamonds to INCREASE the supply of polished diamonds.

We do not know what the global economy will look like when markets reopen. It would be foolish to imagine that we will have an instant recovery from the current state of chaos.

Future diamond demand, affordability, and price resistance are currently unknown. Adding new production will create an oversupply of diamonds which in turn will reduce the value of existing inventories. Our priority should be to sell our diamonds at current prices before new supplies enter the market to minimize loss.

Diamonds are an emotionally driven luxury product and not a commodity. Consumers will buy diamonds under current availability and according to their budget.

The jewelry industry is global and needs to be more united in its approach.

“United we stand, divided we fall.”

Manufacturers will need to unite, stop the purchasing of rough and focus on profits of existing inventory. Indian manufacturers control 90% of global polished diamonds by value and volume. They have the ability to make the difference necessary for this industry to flourish once more.

-Setu Doshi