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Natural Diamond Council Is In Financial Trouble

The Natural Diamond Council (NDC) is set to lose over half of its budget for 2023, which will be a devastating blow to the worldwide industry advocate.

The NDC was founded in 2000 with the goal of expanding commerce for the whole diamond value chain, from mine to retail. One of the organization's primary goals was to reduce the trafficking of "conflict diamonds." David Kellie, the NDC's CEO since 2019, recently addressed at the Antwerp World Diamond Centre, emphasising the importance of Alrosa's exit earlier this year. "Alrosa suspended themselves from the NDC in February of this year, resulting in a loss of nearly half our financial resources for 2023," he explained.

Natural Diamond Council

"This is a catastrophe that is looming for the sector, and I hope we can discuss it as soon as possible." Following Russia's invasion of Ukraine in late February, Alrosa self-suspended. Kellie also bemoaned the lack of diamond jewellery to perform on par with the rest of the luxury business, which he attributed to marketing mistakes. "This [contemporary] customer has little similarity to the consumer on which our company was founded," he explained.

Financial Trouble

"Contrary to popular belief, she is not sitting at home watching cable TV." "She has accounts on TikTok, YouTube, Twitter, and Snapchat." These are the platforms via which she is now impacted. Our consumer is on all of these other channels where, other from the NDC and premium brands, the sector does not exist." Kellie's presentation was not all negative; he also highlighted a number of positive trends in recent years, including the emergence of the 'female self-purchase' market. He also stated that the NDC's Only Natural Diamonds platform is currently used by 130 million users each year.

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Billionaire Laurence Graff paid a record-breaking $46.1 million for a magnificent vivid pink diamond weighing 24.78 carats. Originally owned by his competitor Harry Winston, it now carries graff’s name and is a part of the legendary collection of rare diamonds.

We usually advise brilliant round diamonds with a cut grade of very good, ideal, or super ideal for engagement rings (also known as hearts and arrows). A high cut grade maximises a diamond’s beauty for a given carat weight.

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It’s crucial to have a concept of what you might prefer before starting your search because it will enable you to focus on fewer of the many engagement ring possibilities that are now available. Also, when you initially start browsing, it helps to have a few distinct design concepts and the overall budget because the variety can be overwhelming.

Here are Engagement Ring Trends 2023:

1. Modern Art-Deco
2. Colored Stones
3. Lab-Grown Diamonds
4. East-West Settings
5. Multiple Large Stones

The traditional round diamond form, which is the most common, may come to mind when you think of diamonds. But if you want something different, a tonne of alternative forms may be found to suit your unique taste and style. Each diamond shape has its own fire and brilliance because they are cut to different standards, altering how they reflect light.

The most popular kinds of diamonds are listed below:

1. Round Brilliant Cut Diamonds
2. Princess-Cut Diamonds
3. Marquise-Cut Diamonds
4. Cushion-Cut Diamonds
5. Emerald-Cut Diamonds
6. Radiant-Cut Diamonds
7. Pear-Shaped Diamonds
8. Oval Diamonds
9. Asscher-Cut Diamonds