Diamonds: Jewelers Vigilance Committee Commits to World Diamond Council & More

JVC Committed to WDC

The Jewelers Vigilance Committee, a group that provides education on legal and regulatory issues, considered but ultimately decided against leaving the World Diamond Council, the international body that represents the trade to the Kimberley Process.

“At this moment, the WDC is the best vehicle for the industry to engage with governments and NGOs on the Kimberley Process,” JVC president and CEO Cecilia Gardner wrote in a letter to members distributed Feb. 5.

Gardner also serves as the WDC’s general counsel and was criticized for her dual role in a December editorial by Martin Rapaport. The industry commentator claimed that Gardner faces a conflict in trying to represent the needs of both U.S. and international industries, given that Marange diamonds have been okayed by the Kimberley Process, but remain illegal in the United States.

But Gardner argued that by staying involved with the WDC, her group was able to give voice to the concerns of the U.S. market. She did, however, add that the Marange issue means Kimberley Process compliance is not enough.

“Companies must also look to their sources of supply and ensure that those sources are not dealing with [companies sanctioned by the Office of Foreign Assets Control],” she said. “Your supplier of diamonds must make every effort to ensure that his suppliers have not acquired diamonds from illicit sources. Claims today that ‘it can’t be done’ are falling on deaf ears.” —Rob Bates

Proud as a Peacock

Attention bird-loving buyers: At the mid-March TEFAF art fair in Maastricht, Netherlands, Graff Diamonds unveiled a $100 million peacock pin featuring 120.81 cts. t.w. white and colored diamonds. At the center of the brooch is a 20.02 ct. fancy deep blue pear-shape diamond—one of the rarest blue diamonds in the world. At press time, the piece, housed in Graff’s Bond Street, London, headquarters, was still for sale. —Stephanie Schaefer




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