Data Suppliers: Index Feedback

The FCRF data suppliers are 24 of the most influential fancy color diamond companies in the market. Among these companies are manufacturers, traders and other specialists, each representing a different segment of the fancy color niche. The data suppliers, in addition to being members of the FCRF, are responsible for providing high quality pricing data every quarter in order to generate the Fancy Color Diamond Index (FCDI). The interviews below provide insights on the quarterly index readings.

Name
Marc Boghossian
Company
Bomare SA
Dealing in Fancy Color Since
1997
Location of Offices
Geneva, Switzerland
Fancy Color Price Category
Medium to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
During the COVID-19 pandemic we have been experiencing logistical difficulties in terms of shipping to and from various destinations: Hong Kong, New York City, Israel, Dubai and Mumbai. This has resulted in delays, irregular schedules, and inevitable price increases.
Name
Ephraim Zion
Company
Dehres
Dealing in Fancy Color Since
1971
Location of Offices
Hong Kong, New York and Shanghai
Fancy Color Price Category
Medium to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
Since the beginning of the COVID-19 pandemic, we have had major restrictions in Hong Kong, including 2 weeks of quarantine for anyone going in or out of the city which has created great difficulty transporting diamonds. There have been some shipments to the USA and Europe, but the Far East is on logistical hold. This means business has been extremely slow and many transactions couldn’t go through due to this logistical freeze.
Name
Ishaiah Gol
Company
Ishaia Trading Corp.
Dealing in Fancy Color Since
1978
Location of Offices
New York, Geneva and Ramat Gan
Fancy Color Price Category
Medium to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
Here in New York, the main problem has been the closing of the GIA services, along with the factory's shutdown. For a few months we were even forced to close down the office. Even now we are working in limited capacity, however the GIA in California is providing services, so some of our work has resumed.
Name
Leibish Palnauer
Company
Leibish & Co.
Dealing in Fancy Color Since
1979
Location of Offices
Israel, Hong Kong, New York
Fancy Color Price Category
Medium to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
The Corona pandemic has reduced commercial flights and the business of Malca Amit and Brinks substantially, so shipping and delivery takes more time. However, it does not affect sales in a big way. The problem is in the supply chain, as Indian manufacturing has dried up completely and no new goods are being shipped from Mumbai.
Name
John Glajz
Company
Glajz-THG.
Dealing in Fancy Color Since
2000
Location of Offices
Singapore
Fancy Color Price Category
Low to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
We have experienced a few minor delays and a slight increase in costs, however nothing has been too problematic considering the global situation. This has been especially the case, as Malca Amit Singapore has been extremely efficient in their logistics management.
Name
Marc Lazar
Company
Marc Lazar Diamonds
Dealing in Fancy Color Since
1995
Location of Offices
New York and a presence in Israel
Fancy Color Price Category
Medium to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
At the outset of the outbreak, we experienced a slowdown in shipping availability that led to a complete freeze. Fortunately, as we are all in this situation together, everybody is very understanding. We had one small transaction that was canceled due to the difficulty to transport to and from India.
Currently we find that domestically the availability to ship is back to approximately 80%.
International shipping requires a little more time and planning, but it’s also operating pretty efficiently now.
Name
Matthew Aldrige
Company
Gemcut S.A.
Dealing in Fancy Color Since
1978
Location of Offices
Geneva
Fancy Color Price Category
Medium to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
There have been shipping delays during the last 4 months due to global flight restrictions. However, it wasn’t all bad, as we had time on our hands and service and transactions weren’t quite so rushed. As we start to come out of the pandemic, this could become a problem, as clients generally will expect to be served more quickly.
Name
Eden Rachminov
Company
Rachminov Diamonds 1891
Dealing in Fancy Color Since
1994
Location of Offices
Tel Aviv, New York and Hong Kong
Fancy Color Price Category
Medium to High
The industry has been reporting difficulties in regards to diamond shipping, delays, and other logistics restrictions. How was your experience with those issues?
The difficulties are indeed substantial and are affecting the time cycle of each transaction. The demand for high-end fancy color diamonds is stronger than expected during these days. However, in many cases, it is just impossible to bring the client and the stone together due to the lockdown of some countries and the low frequency of flights.

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