discount engagement rings - Yellow or White Gold
There exists a large-scale gem-grade diamond trade. (the image is of a 2.5CT pear diamond) Gem diamonds do not trade as a commodity, unlike gold or silver: the sale of diamonds are substantially marked up in price, and the resale of diamonds is not a very active market. One significant feature of the diamond trade is that it is highly concentrated: wholesale trade and diamond cutting is limited to a few locations. The diamond cutting done in Surat, Gujarat, India, made up 92% of the total diamond cutting done in 2003. The other major diamond cutting and trade centers exist in New York, London, ,Amsterdam, Tel Aviv and Antwerp, where the International Gemological Institute is based. To add to the concentration, a single company, De Beers, controls a considerable proportion of the world trade in diamonds. They are situated in Johannesburg, South Africa and London, England.

The De Beers diamond advertising campaign is acknowledged as one of the most successful and innovative campaigns in history. N. W. Ayer & Son, the advertising firm retained by De Beers in the mid-20th century, succeeded in reviving the American diamond market and opened up new markets, even in countries where no diamond tradition had existed before.

(image is 1CT, white gold discount engagement rings)A few main players are responcible for most of the production and distribution of diamonds, and are located in traditional diamond trading centers. The largest is Antwerp, where 80% of all rough diamonds, 50% of all cut diamonds and more than 50% of all rough, cut and industrial diamonds combined are handled. Antwerp has been rightly named the 'world diamond capital'. New York, however, along with the rest of the United States, is where approximately 80% of the world's diamonds are sold, in addition to auction sales. New York is also where the most unusually shaped and largest diamonds are traded.

Down the supply chain, members of The World Federation of Diamond Bourses (WFDB) mediate the sale of wholesale diamonds, of both rough and polished diamonds.The WFDB is made up of independant diamond entities monitoring major cutting centers in Tel Aviv, Antwerp, Johannesburg and other cities across the USA, Europe and Asia.

In 2000, the WFDB and The International Diamond Manufacturers Association established the World Diamond Council to prevent the trading of diamonds used to fund war and inhumane acts.

Additional activities of the WFBD include sponsoring the World Diamond Congress every two years, as well as the establishment of the International Diamond Council (IDC) to oversee diamond grading.

Located in the New York diamond district, we can offer you discount engagement rings at wholesale prices.