Dear Mr. Vaughan, Antwerp has evolved to become the last word in Diamonds. What according to you are those important factors that have led to this positioning of Antwerp as the Final Diamond destination?
We have what is known as the diamond square mile consisting of three streets and this area is classified as a pedestrian zone. In Antwerp we are fortunate to have a close co-operation and an understanding with the Mayor or Antwerp and his team, and we can proudly state that Antwerp is unique, in as much as we are the only town worldwide who has a Vice-Mayor for Diamonds.
Within the diamond square mile there are four WFDB
affiliated diamond bourses, more than 1800 registered
diamond companies, banks, the Diamond Office where
goods entering and leaving Belgium are cleared through
customs, in addition, we also have logistic companies
necessary for transporting goods to and from the airport
and all this happens in a secure and controlled
environment. More that 80% of the world production of
rough diamonds passes through Antwerp I addition to the
large percentage of polished diamonds. There a quite a
number of rough tenders taking place in Antwerp each
week and these tender attract a large number of rough
diamond buyers be they manufacturers or dealers from
both the home market and abroad and this is in addition to
the major rough diamond producers realizing the
necessity and importance of being positioned in
Antwerp. There is also and important and highly
successful event, the Antwerp Rough Diamond Days that
takes place four times in the world's largest rough
diamond bourse, the Antwerpsche Diamantkring, this
event attracts WFDB affiliated bourse members
worldwide to meet and conduct business. Then of course
there is the tradition, as diamonds has an association with
Antwerp that dates back 570 years.
Is it true that currently we are witnessing a slow
movement concerning the Polished Diamond business? If
yes, in your opinion what are the steps that the Diamond
fraternity should take to overcome the prevailing
challenges?
Rough prices are very firm, on the high side, whilst in my
view it is a good thing as it helps keep some form of price
stability on the polished market there is still a large
quantity of polished diamonds available worldwide, and this will start to change when the demand
for polished goods start to become more
scarce. From an international perspective,
wherever those involved in the diamond
business are based, our core values should
not only not be forgotten or preached, but
also be acted upon. Please allow me to
explain, whilst we live in the electronic age,
the 21-century with business innovations
constantly evolving, we should never ever
forget that the way we conduct business
demands that we act with integrity, be
accountable for our actions, act in an honest
manner and keep our word, our word should
be our bond. The handshake and Mazal are
the core values of our business and should
be respected as such.
Synthetic Diamonds are seen growing in the
jewellery sector. Is there enough education
among the trade on Synthetic diamonds and
what according to you are the steps that
need to be taken for a brighter future for the
Diamond trade?
I believe that there is a place for laboratory grown diamonds, and that place has really nothing to do with the natural diamond industry. Each natural diamond is unique and has a story behind it, this is not so with laboratory grown diamonds. No two polished natural diamonds can be the same that is the beauty of nature, and nature has created the natural diamond, which is offered with love to the final consumer. Generic advertising of the natural diamond is the way forward, we in the trade know the difference, but we must sell the story to the consumer it is for them to appreciate the difference and one of the ways to accomplish this is through generic advertising.
Diamond detection devices are being launched by leading grading, certification and technology companies. Your opinion on the importance of such devices and what the steps that need to be taken to promote such diamond detection devices to a larger number of trade members?
Technology plays an important part in
diamond detection and continues to play an
important part in our industry worldwide.
We are witnessing increased number of
consumers when it comes to the millennial
generation. Is the diamond industry
equipped to promote and service the large
millennial buyers in the near future. If yes,
please emphasize on generic diamond
marketing efforts and its necessity
There a numerous advertisements of
diamond jewellery each week appearing in
women's magazines. There is the diamond
generic advertising campaign by the
Diamond Producers Association and then
there are the Magnificent Jewels auctions,
which takes place in Geneva, Hong Kong,
London and New York a few times a year
and conducted by the major auction houses.
The government of Antwerp - Belgium has
been a facilitator for the Diamond industry
for generations. With the younger
generation ready to take on the family
business in the city, what are those factors
that you feel would help and support the next
gen to carry out the business in the city of
Antwerp?
Here in Antwerp we are fortunate to have
experts in every field of the diamond
industry with a very broad and detailed
knowledge base. As with every other
business and especially with the diamond
business banks and the facilities that they
provide are crucial to support this
generation and future generations in our
very special business.
In just 3 words tell us why should a person
visit Antwerp?
Friendly, convenient, professional.