The Diamond Market & Bank Closures
January 27, 2011
Mr. B in the Far East
We talk gold all the time, now let's have a look at the diamond market for a moment. I am working in the mainstream of diamond sales with a remarkable sale of a ominous large black stone called the BLACK OBAMA and it's 824 carats of super large translucent purity (photo attached) appraised at about 160,000,000 usd. Price tag is $55 mio USD.
While working to sell this stone we came across a leading Diamond Purveyor, Professional in Israel, who commented, "I would be taking interest in this, but we have no time for these matters now" and he just hung up. We knew that the diamond market is very slow at the moment with Buyers outstripping Sellers of rough diamond collections 520 to 10! We also learned that the Israelis are preparing for war and are downsizing the diamond cutters activities there. In other words the Diamond Giants are slowing down distribution of the large rough diamond collections and cutting into the use of diamonds as money! ...