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TROY DIAMOND REPORT: Is the First Global Diamond
Pricing Guide Offered in 9 Mediums of Exchange including the "Gold
Standard" and Foreign Currencies.
Consumers, Investors and Members of the Jewelry Trade now have a choice to follow diamond values in their
preferred frame of
reference that is best suited to their needs and where they live in
the world! Diamonds'
Global
Intrinsic Values are accurately reported in 7 International Currencies, the "Gold Standard" - the oldest
and most universal medium of exchange used for
thousands of years; plus the
weighted basket of currencies unit known as "Paper Gold." Troy
Diamond Reports accurately monitor Diamonds'
intrinsic values in your choice of
medium of exchange. Gold and currency trends are also updated
monthly in the Gold &
Currency Report, your essential resource during an economic times.
No Subscription Required.
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The Troy Diamond Report founded by Wayne D. Prentice, G.G. is the result of over 21 years experience. Wayne's background includes being a former Gemological Institute of America (GIA) Resident Gemology Instructor, an award winning gem cutter, a retailer and wholesaler in the jewelry industry; in addition to holding a degree in Business Economics from the University of California Santa Barbara and a licensed Real Estate Broker in the states of California and Washington.
The primary catalyst for my creating a "Global Diamond and Currency Market Guide" is a direct result of recent volatility in currencies and diamonds emerging as a freely traded global commodity and no longer simply a luxury good controlled by DeBeers' Central Selling Organization. Traditionally the Diamond Industry has been a marketing and distribution cartel exclusively controlled by DeBeers, but over the past 15 years the industry has become a multi-channeled free market system, with substantial changes at every level, from mining, to manufacturing and distribution channels from wholesale to the end consumer. Legislative action championed by U.S. Rep. Tony Hall from 1999-2003 for the Clean Diamond Trade Act (H.R. 1584) created the Kimberley Process (http://www.kimberleyprocess.com), a branding revolution and started the commoditization of diamonds. DeBeers historical role as custodian of global diamond supply and market driver, therefore was recast to a "Supplier of Choice." This is monumental change! Considering in 1993, DeBeers controlled over 85% of the world's supply of gem quality rough diamond production, which by 2006 had dropped to 50%, and today is even less than 40% of gem quality rough diamonds documented through the Kimberley Process Certification Scheme totaling $12.1 Billion in 2007.
Next was to fulfill the need for "Real Value" reports that are essential during rapidly changing economic times globally and in the U.S. Reports that are independent and consider the affects of greatly changing monetary exchange rates. Value needed to be communicated independent of any single currency, and be easily convertible to every currency. Durable goods such as gold and diamonds priced solely in U.S. Dollars is outdated especially considering the rapidly changing value of the U.S. Dollar in the last 6 years relative to foreign currencies and other measures of "Real Value."
Sincerely, Wayne D. Prentice, G.G.