Speaking to hundreds of representatives of jewelry companies, dealers and manufacturers at the special "Rapaport Breakfast" at the JCK Las Vegas Jewelry Show, Martin Rapaport urged diamond market participants not to buy diamonds at inflated prices, the press release distributed Rapaport.
Rapaport said that the credit policy of the Indian government and the irresponsible attitude of banks providing unlimited borrowed funds led to inflation of prices for rough diamonds.
In his speech, Rapaport outlined the main prospects and factors for the growth of diamond trade, including the sale of diamonds to consumers of the two thousandth generation and the development of investment diamond markets.
After breakfast, Rapaport spoke at the Rapaport Certification Conference, urging diamond trade participants to sue laboratories that often overestimate the valuation of diamonds and retailers who provide consumers with false information about the quality of diamonds.
Further, speaking at the Rapaport Fair Trade Conference, Rapaport said that the biggest threat to the diamond industry was the problem of respect for ethical standards. "We can not ignore the fact that Indians engaged in the processing of precious stones die from silicosis. We need to create a reliable product certification system to ensure that ethical standards are maintained in production. "