Diamond Sourcing Process

Diamond Sourcing Process

 

 The first step in our Jewelry Creation Process, find out how we source our diamonds...

 

At 64Facets, we are dedicated to making jewelry that is not only elegant and luxurious but also sustainable and ethically sourced. When learning about diamond jewelry, it is not only important to understand what diamonds are and how they are created, but also how they travel from the mine to our craftsmen. We’ve detailed our diamond sourcing process below so you can feel comfortable knowing where exactly our diamonds come from.

 

Diamond Mining

 mine to source and extract rough diamonds

The history of diamonds begins with the discovery of the very first diamonds in India in 4th century BC where for 1000 years they were the only known source of diamonds. By the early 1700s, however, diamonds were being discovered in Brazil and their mines dominated the market for 150 years, bringing fashionable accessories to affluent Europeans. The story of the modern market for diamonds begins from the discovery of diamonds in South Africa in 1886 which was then consolidated in 1888 by Cecil Rhodes and the DeBeers Consolidated Mines. Although new mines have been discovered in Australia, Botswana, and Zaire, South African mines owned by DeBeers followed by Russian mines owned by Alrosa continue to dominate the world’s rough diamond supply.

 

 

Diamond Trading

 

After the rough diamonds are mined, they are sent to a trading center in Antwerp, Belgium, which is the global capital of the diamond trade. Leaders of the diamond trade since the 17th century, Antwerp’s diamond district is where 84 percent of the world’s diamonds end up. The DeBeers Group is selective with their diamond sales and exclusively sells diamonds directly to authorized bulk purchasers called “Sightholders”. There are only 80-90 Sightholders in the world and they buy large quantities of rough diamonds 10 times a year at sales events called “Sights”, where they are able to inspect rough diamonds offered to them before deciding on their purchase.  

 

Diamond Resale

 

 

The Sightholders will then resell the diamonds to both large and small diamond trades and jewelry companies in various companies. Typically, rough diamonds will be traded numerous times before they are cut and polished after which they will again be sold a few more times. This means that these diamonds go through dozens of intermediaries before they are formed into jewelry as most jewelry designers will purchase loose cut stones rather than rough diamonds. The extended supply chain results in diamonds that are difficult to trace their origins as they are bought and sold many times before becoming jewelry. 

 

At 64Facets, we buy our rough diamonds directly from a few select Sightholders in Antwerp, thus keeping our supply chain as short as possible while cutting out dozens of intermediaries. This allows us to price our fine jewelry competitively while guaranteeing sustainable and ethical sourcing.

 

From Antwerp, we then ship the carefully selected rough diamonds to our atelier in Surat, India to be assessed, cut, and polished. 

 

Learn more about the next step in our Creative Process:  Cutting and Faceting

 

 

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