Samina Diamond Ruby Fashion Jewelry 26

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A large trade in gem-grade diamonds exists. Unlike other commodities, such as most precious metals, there is a substantial mark-up in the retail sale of gem diamonds.[42] There is a well-established market for resale of polished diamonds (e.g. pawnbroking, auctions, second-hand jewelry stores, diamantaires, bourses, etc.). One hallmark of the trade in gem-quality diamonds is its remarkable concentration: wholesale trade and diamond cutting is limited to 

just a few locations; in 2003, 92% of the world's diamonds were cut and polished in Surat, India.[43] Other important centers of diamond cutting and trading are the Antwerp diamond district in Belgium, where the International Gemological Institute is based, London, the Diamond District in New York City, Tel Aviv, and Amsterdam. A single company – De Beers – controls a significant proportion of the trade in diamonds.[44] They are based in Johannesburg, South Africa and London, England. One contributory factor is the geological nature of diamond deposits: several large primary kimberlite-pipe mines each account for significant portions of market share (such as the Jwaneng mine in Botswana, which is a single large pit operated by De Beers that can produce between 12,500,000 carats (2,500 kg) to 15,000,000 carats (3,000 kg) of diamonds per year,[45]) whereas secondary alluvial diamond deposits tend to be fragmented amongst many different operators because they can be dispersed over many hundreds of square kilometers (e.g., alluvial deposits in

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