Fairtrade + Fairmined Marks

The Fairtrade Labelling Organisations International (FLO) and the Alliance for Responsible Mining (ARM) has developed the first ever third party independent certification for gold to bring about social, environmental and economic development in artisanal and small-scale mining communities. This partnership enables both organizations to meet shared strategic objectives, creating a system to ensure that artisanal and small-scale miners can earn a better price for their gold. The partnership will be communicated on product via a co-labeling hallmark using both the FAIRTRADE and FAIRMINED Marks. Check it out.

Useful links:
www.fairtrade.net
www.communitymining.org
www.responsiblejewellery.com

Random Thoughts

Everyone knows the protocol when an engagement is announced. The happy couple is congratulated, then the groom-to-be has his hand shaken and the bride-to-be has hers delicately held up so everyone can admire the twinkling new diamond on her finger and make a swift and furtive guess at how much it cost. The modern engagement ring marries materialism and romance in one hard, beautiful stone. But can it last?

- Ceri Radford
http://blogs.telegraph.co.uk/news/author/ceriradford

Sometimes it's really hard to tell.

Free Comic Book Day

What’s better than comics? Free comics, really. Check it out.

Useful link:
www.freecomicbookday.com

Gerald Scarfe + Jonathan Yeo

Check out the art of politics with Gerald Scarfe and Jonathan Yeo. I enjoyed it. Many thanks.

Useful links:
www.geraldscarfe.com
www.jonathanyeo.com

The Beauty Of Maps

A new exhibition at the British Library, Magnificent Maps, aims to put the art back into how we view, and use, these often beautiful examples. Don't miss.

Useful links:
www.rgs.org
www.bl.uk
www.susanstockwell.co.uk

The World's Most Influential People

Take a look at The 2010 TIME 100. www.time.com

Rough Diamond Tender

Take a look at IdexOnline research report on rough diamonds sold at auction.

Useful links:
www.diamdel.com
www.bhpbilliton.com

The United States Kimberley Process Authority

The United States Kimberley Process Authority (USKPA) has launched its new website www.uskpa.org.

USKPA is a not for profit trade association formed for the purpose of administering and controlling the usage of U.S. Kimberley Process Certificates for the export of rough diamonds. The USKPA is authorized by the government to provide U.S. Kimberley Process Certificates to licensed entities for use in exporting rough diamonds. Check it out.

Picasso Collection

Met’s Picasso collection: 34 paintings, 58 drawings, a dozen sculptures and ceramics, along with 200 of the museum’s 400 prints is on display through August 2010. Many thanks to Holland Cotter for the info. Don't miss. www.metmuseum.org

Rupa Subramanya Dehejia Viewpoint

I thought Rupa Subramanya Dehejia's opinion piece in the Wall Street Journal was interesting. Many thanks. You don't need a 10x. Income inequality is a visible inclusion in India today. In major cities, showing off one’s wealth / prosperity is becoming a popular sport in the emerging middle class and most certainly of the nouveau riche. Time for total internal reflection, really.

BP Portrait Award 2010

Take a look at shortlisted artists. www.npg.org.uk

Shanghai Expo 2010

Expo 2010, officially Expo 2010 Shanghai China will be held in the city of Shanghai, China from May 1 - October 31, 2010. Don't miss.

Useful link:
http://en.expo2010.cn

The Jade Story

The Economist story on the Chinese passion for jade was interesting.

Useful links:
www.woolleyandwallis.co.uk
www.christies.com

The Rio Tinto Pink Diamond Tender

According to Josephine Archer, business manager, Argyle Pink Diamonds, there are only around 500 more Tender-quality diamonds available between now and 2018, and, like in any auction, once they are gone, they are gone. Period.

Useful links:
www.riotintodiamonds.com
www.riotinto.com
www.argylediamonds.com.au
www.argylepinkdiamonds.com.au

Random Thoughts

Rarity and demand are the two main factors. Top-quality diamond rough, especially among highly sought-after colored diamonds, is increasingly rare. At the same time, demand for investment-grade diamonds is continuing to grow worldwide, driven by the growing number of collectors in Asia, Europe, Russia and the U.S., as well as emerging markets in India, the Middle East and South America. The stability we have seen throughout this recessionary period is in some ways a function of the economy itself. Diamonds and gemstones have long been regarded as a stable store of value, and it is not unusual for collectors to seek out these alternative investments, especially in times of economic uncertainty.

- Rahul Kadakia
www.christies.com

Spot on.

Global Witness Update

This is Zimbabwe (TIZ). In Marange, diamond business will be as usual. The twig is bend so shall the tree grow. Sad, really.

Useful links:
www.globalwitness.org
www.kimberleyprocess.com

Gary Hamel Viewpoint

Gary Hamel's opinion piece in the Wall Street Journal about the fault lines that run between individuals and institutions + the new thinking was brilliant. Many thanks.

Useful links:
www.garyhamel.com
http://blogs.wsj.com/management

Paul Graham Viewpoint

Organic startup ideas. www.paulgraham.com

Art Cars At Milan 2010

Take a quick look at this year’s Art Cars at Milan 2010.

Useful link:
www.calder.org

JIC Ultimate Proposal Contest 2010

I thought JIC's Ultimate Proposal Contest was a brilliant idea. The best engagement proposal story are ready for viewing online at JIC.org/ ProposalContest now through April 30, 2010.

Useful links:
www.jewelers.org
www.JIC.org

Sabine Roemer

The Emerald Queen, a life-size fiberglass elephant designed by U.K. jeweler Sabine Roemer, will debut in the Wonder Room of London-based department store Selfridge's. Don't miss.

Useful link:
www.sabineroemer.com
www.worldlandtrust.org
www.selfridges.com

Art Market Update

Souren Melikian's opinion piece in the New York Times about Turkish work of art was insightful. Many thanks.

Useful links:
www.christies.com
www.sothebys.com

Unilock

Take a look at the new Unilock Pre-Set instructional kit for its patented bezel setting system. www.presetstone.com

Random Thoughts

The discipline which is most important in investing is not accounting or economics, but psychology.

- Howard Marks
www.oaktreecapital.com

Spot on.

Global Business BBC

Folding bikes, e-bikes, tricycles, recumbents, fixies, cargo bikes, and bamboo bikes is being reinvented and demand is great. The world is witnessing a genuine cultural shift towards two wheels. Many thanks to Peter Day for sharing his viewpoints.

Useful links:
www.brompton.co.uk
www.cyclescheme.co.uk
www.gocycle.com
www.wiggle.co.uk

Chaim Even Zohar Viewpoint

Chaim Even Zohar was spot on. The Oppenheimer family has a unique ability to surprise and it won’t be any different this time around. Stay tuned.

Useful links:
www.diamondintelligence.com
www.debeersgroup.com
www.dtc.com
www.e6.com
www.forevermark.com

Pearl Book

CIBJO (Confédération Internationale de la Bijouterie, Joaillerie et Orfèvrerie), also known as the World Jewellery Confederation has released the Pearl Book. Check it out. www.cibjo.org

Blood, Sweat And Luxuries

Six young British consumers swap their luxury lives for the simple mud huts and shanty towns of Africa and Asia to work alongside the people who mine, manufacture, process and recycle luxury goods. Don't miss.

The Colour of Paradise

The Colour of Paradise: Colombian Emeralds in the Age of Gunpowder Empires by Kris Lane traces the remarkable story of intercontinental trade (emeralds), from Colombian hillside to Mughal court. A must read.

Useful link:
http://kelane.people.wm.edu

The History Of Beauty

Beauty Imagined: A History of the Global Beauty Industry by Geoffrey G. Jones provides authoritative history of the global beauty industry from its emergence in the nineteenth century to the present day, exploring how today's global giants grew. Don't miss.

Random Thoughts

Emotions spread from person to person because of two features of human interaction: we are biologically hardwired to mimic others outwardly, and in mimicking their outward displays, we come to adopt their inward states. If your friend feels happy, she smiles, you smile, and in the act of smiling you also come to feel happy. In bars and bedrooms, at work and on the street, everywhere people interact, we tend to synchronize our facial expressions, vocalizations, and postures unconsciously and rapidly, and as a result we also meld our motional states.

- Nicholas Christakis /James Fowler
http://christakis.med.harvard.edu
http://jhfowler.ucsd.edu

Spot on.

Wine Market Update

Acording to Jay McInerney, the fine wine market seems to be recovering faster than the art and real estate markets. Basically the market is back in form and I hope it stays firm.

Useful links:
www.sothebys.com
www.ackerwines.com

Gary Hamel Viewpoint

I thought Gary Hamel's opinion piece in the Wall Street Journal about the fault line that runs between individuals and the institutions was rightfully true. We are a bunch of disconnected professionals. I guess there must be a way to reconnect and be truthful.

Useful links:
www.garyhamel.com
www.towersperrin.com
www.edelman.com/trust/2010
www.gallup.com
http://blogs.wsj.com/management

Random Thoughts

I had coffee with an entrepreneur last week who was worried that business was stagnant at her small, 20-person IT services company in New Delhi. She was looking for new ways to grow and asked me: Do you have any good business ideas I can use? I get asked this question almost everyday. So here is my advice to everyone: Stop looking for good ideas. That’s right, you read this correctly. Please don’t tell me about another good idea ever again. Instead tell me about good problems. They will most likely bring a business opportunity.

- Gautam Gandhi
www.google.co.in

Spot on.

Fake Artworks

The National Gallery will be displaying some of its most embarrassing acquisitions for a new exhibition looking at fake artworks. Check it out.

Useful link:
www.nationalgallery.org.uk

Coachella

Coachella: Hollywood's answer to Glastonbury. www.coachella.com + www.glastonburyfestivals.co.uk

Curious Collections

A gallery of some of the wackiest collections on earth. Don't miss.

Most Innovative Companies: A Special Report

Take a look at the top 25 companies. www.bcg.com

Innovation Report

The Economist special report on innovation was insightful. The islands of success are surrounded by a sea of problems, but the opportunities are equally extraordinary. Really.

Useful links:
www.unctad.org
www.anilkgupta.com

Random Thoughts

In addition to buying shares in mining companies and natural resources funds, investors looking to gain exposure should also consider buying loose diamond of 5 to 20 carats with grading certificates. Blue, pink, yellow and red hues are sought-after.

- Ellen Kelleher

Do your own research and do the right thing.

A Trip Inside A Diamond Mine

Diavik mine, Canada. www.diavik.ca

Chaim Even Zohar Viewpoint

Interesting overview on rough diamond prices. Many thanks.

Useful links:
www.diamondintelligence.com
www.dtc.com

Henri Cartier-Bresson Exhibition

Visit New York's Museum of Modern Art to view The Modern Century, Henri Cartier-Bresson's diverse choice of subjects. Don't miss.

Useful links:
www.moma.org
www.artic.edu
www.sfmoma.org
www.high.org

Lawrence Stoller

Take a look at Stoller's gemstone artistry @ www.crystalworks.com

The Johnny Cash Project

A brilliant idea. Take a look at a personalized, living portrait of Johnny Cash. Visually inspiring, really.

Useful links:
www.thejohnnycashproject.com
www.aaronkoblin.com

Art Market Update

The Economist review on Hong Kong's art market was interesting. I think the television in mainland China has played a big role in encouraging the wealthy elite to enter the art market. Period.

A white-jade seal dated from 1796, the last year of the Emperor Qianlong’s reign, set a new world record. Sold at auction less than two years ago for HK$46.2m against an estimate of HK$15m, it was estimated this time at HK$50m, only to earn HK$95.9m.
- Economist

Useful links:
www.sothebys.com
www.e-yaji.com

Ryan McGinness

I really liked Ryan McGinness's signature logo drawings. They were simply brilliant. Period. Take a look. www.ryanmcginness.com

Random Thoughts

It's good to stand there and take a step back and just look at the Army from a distance. This will be history one day, Camp Bastion will be dust. We are painting history.

- Graeme Lothian
www.iwm.org.uk
www.military-art.com

I think it's important to record it for the next generation.

Fast Pencil

Take a look at Silicon Valley startup FastPencil @ www.fastpencil.com

Global Business BBC

Peter Day's talk about the standards-setters; what they do, and why it matters on BBC World Service was insightful. Many thanks.

Useful links:
www.zyen.com
www.nottingham.ac.uk
www.baesystems.com
www.intertek.com
www.bsigroup.com
www.spiraltd.com

Reorganise For Resilience

Q: How can companies grow their business even in these difficult economic times?
A: Improved customer insight.

Useful link:
www.ranjaygulati.com

Random Thoughts

How do investment crowds get started? There is no single right answer to this question. But I think it is accurate to say that most investment crowds find their genesis in the deaths of other investment crowds. I like to use a very apt cosmological metaphor to help understand this process. Investment crowds are the stars of the financial universe. The stars in the Milky Way and in the much larger cosmos have limited lifetimes, which typically end in a massive explosion called a supernova. But new stars are being born (i.e., starting their own process of nuclear fusion) all the time. What is the source of the material that is the stuff of a new star? Well, it is just the cosmic debris left by the explosions of old stars! In much the same way, investment crowds bum brightly in the financial universe and are responsible for much of the observed price fluctuation. But they have finite lifetimes (a few months to a few years). The inevitable disintegration of any investment crowd causes a big run-up or drop in prices and lots of commotion and confusion in the marketplace. But the debris associated with the disintegration of a crowd is the stuff from which the next crowd forms. The change in price associated with the disintegration of an investment crowd is powerful advertising. It attracts the attention of investors, especially of those whose portfolios have been directly affected by the rise or fall in asset value.

- Carl Futia
http://theartofcontrariantrading.blogspot.com
http://carlfutia.blogspot.com

So true!

Bill Viola

Take a look at Bill Voila's The Night Journey, an experimental video game. It's immersive. Many thanks to Hilarie M. Sheets for sharing the info.

It's a game that rewards you for slowing down and for introspection. You're alone and you're not even told why you're there. You just fall out of the sky into the middle of this amazing landscape with mountains, sea, desert, and forest, and go wherever you want. The more you do things mindfully, the more is revealed to you.
- Bill Viola

Useful link:
www.billviola.com

Surround Vision

Take a look at MIT Media Lab's Surround Vision. www.media.mit.edu

Peter Gabriel Update

Devin Leonard's viewpoint in BusinessWeek about Peter Gabriel's recommendation technology was interesting. He is a brilliant technology thinker and entrepreneur.

Useful links:
www.thefilter.com
www.petergabriel.com

Art Market Update

Souren Melikian's opinion piece in New York Times about “La Voie du Tao” (The Tao Path) was insightful. Many thanks.

Useful link:
www.grandpalais.fr

Blind Sculpture

I thought the performances by a group of blindfolded artists was brilliant.
www.greenenaftaligallery.com

DTC Sightholders 2010

The Diamond Trading Company (DTC) sightholder list 2010. www.dtc.com

Random Thoughts

I am somebody who has been very fortunate to have had the opportunity to test my limits. And I would remind you philosophically that my definition of a fool is somebody who has reached his limits. Almost by definition, whatever goals you set, you need to constantly readjust them so that at no time do you reach your goals before your time is up.

- Samuel Zell
www.tribune.com

Spot on.

Your Life In 2020

Interesting viewpoint. Only time will tell. I think it's good to see the return of value of integrity + the real world. Stay tuned.

Horse Soldiers

Extraordinary story. A must read. www.dougstanton.net

Mission Blue Initiative

Take a look at the Hope Spots and learn about them.

Useful links:
www.mission-blue.org
www.noaa.gov
www.iucn.org

Art Market Update

The Economist report on the growing Arab art market was interesting. Many thanks.

Useful links:
www.artdubai.ae
www.sharjahbiennial.org
www.qma.com.qa
www.thethirdline.com
www.ivde.net
www.farjamcollection.com

Chaim Even Zohar Viewpoint

What a story! Really.

Useful links:
www.diamondintelligence.com
www.rosyblue.com

Marange Diamond Update

The Marange timeline: http://www.diamonds.net/zimbabwe

Useful link:
www.kimberleyprocess.com

Swoon

Ann Landi's viewpoints in ARTnews about Swoon's public art projects was fascinating. I think they have found there own place in the art world in a peculiar way.

Art Market Update

Souren Melikian's opinion piece in New York Times about Chinese art/market was interesting.

Judging from last week’s buying binge in New York, which the Chinese attended in such large numbers that Christie’s decided to hold the auction in the vast room usually reserved for Impressionist and Contemporary art, the days when Westerners with a great eye and the required cash could amass fabulous hoards of Chinese art are probably over. Roughly two thirds of the 611 lots that came on the block in a mammoth two-day sale went to Chinese dealers and collectors. They bought across the board, in every category, at every financial level.

- Souren Melikian

Useful link:

www.christies.com

Random Thoughts

The question I’ve been asking myself is whether the success of a company solely rests on its MBA talent pool. Is it possible for a company in India to be successful if it has a diverse set of people coming from various backgrounds such as the arts, sciences, and the humanities? Given that India itself is a diverse country and we pride ourselves on being so, shouldn’t the corporate sector reflect this? Surely we can add a bit of desi spice to the Anglo-American model? Isn’t it possible that the non-MBA fields also teach you a thing or two about being a leader, a manager, and a successful member of a team in the corporate world? Or, to put the question in reverse: do you need an MBA to be a successful manager, business leader, or entrepreneur? There’s no denying the fact that there are successful business leaders who hold MBAs here and around the world , but you also have numerous examples of people who don’t (Bill Gates, Narayan Murthy, and Steve Jobs to name three) who have gone on to lead successful companies.

- Rupa Subramanya Dehejia

Spot on.

Ryan McGinness

Rebecca Robertson's story in ARTnews about Ryan McGinness was interesting. I thoroughly enjoyed it.

Useful link:
www.ryanmcginness.com

Legatum Center

A brilliant source of info for aspiring entrepreneurs. Check it out.

Useful link:
http://legatum.mit.edu

Roman & Wiliams

Take a look at the documentary produced by The Scout about Roman & Wiliams, a New York-based design duo at http://thescoutmag.com

Useful link:
www.romanandwilliams.com

The Jazz Artist

Gina Southgate was brilliant. I loved it. Many thanks.

Useufl links:
www.thesagegateshead.org
www.ijfo.org

Chaim Even Zohar Viewpoint

The Dubai story was interesting. Today, billions of dollars worth of rough diamonds transit through Dubai. Chaim Even Zohar was spot on. Dubai is not the issue. Tomorrow uncertainty can arise in another country. What is relevant here are the policies of the WFDB. The organization will be stronger and better if it continues its policy of maximum inclusiveness. Many thanks for your insightful post.

Useful links:
www.diamondintelligence.com
www.dde.ae
www.dmcc.ae

Green Auction: A Bid To Save The Earth

Christies will be holding an April auction set to raise awareness and funds for environmental causes. The Green Auction: A Bid to Save the Earth will take place on Earth Day, April 22, 2010 offering something for every art and fashion lover and enthusiast of nature. Don't miss.

Useful links:
www.abidtosavetheearth.org
www.christies.com/livebidding
www.charitybuzz.com

Royal Academy Summer Exhibition 2010

Take a look at established and unknown artist's work for the Royal Academy of Arts Summer Exhibition - now in its 242nd year.

Useful link:
www.royalacademy.org.uk

Anish Kapoor's Orbit Tower

Anish Kapoor's spiralling sculpture designed to mark the London 2012 Olympic Games was brilliant. I liked it.

Useful links:
www.anishkapoor.com
www.london2012.com

Pritzker Architecture Prize 2010

Ryue Nishizawa + Kazuyo Sejima has won the 2010 Pritzker Architecture Prize. Congratulations!

Useful link:
www.pritzkerprize.com

Art Market Update

Souren Melikian's viewpoints in New York Times about Salon du Dessin art fair was interesting. Many thanks.

Useful link:
www.salondudessin.com

Diamond World 2016

How will the diamond world look in 2016? Take a look at Chaim Even Zohar/De Beer's forecast about diamond growth rates in various key markets.

Useful links:
www.diamondintelligence.com
www.debeersgroup.com
www.dtc.com

Art Market Update

The Economist report on Marcel Duchamp's important artwork was interesting. Many thanks.

Useful links:
http://en.wikipedia.org/wiki/Marcel_Duchamp
www.marcel-duchamp.com
www.marcelduchamp.org

Annenberg Space For Photography

Take a look at a new exhibition at the Annenberg Space for Photography in Los Angeles about the value of water.

Useful link:
www.annenbergspaceforphotography.org

FreeGreen

Free blueprints for sustainable houses. Check it out. Many thanks to Cliff Kuang. www.freegreen.com

Designing A Movement

Valery Casey was spot on. Think about sustainability as systems design. Offer real-world applications. Connect the dots.

Useful links:
http://valcasey.com
www.designersaccord.org

Mike Perry Studio

Visually intriguing. I loved it. www.mikeperrystudio.com

Global Business BBC

Peter Day's viewpoints in BBC/Global Business on the dos/dont's of doing business in Rwanda was educational and insightful. I enjoyed it. Many thanks.

Useful links:
http://bourboncoffeeusa.com
www.rwandacafe.com
www.gahayalinks.com
www.sulfo.com
www.utexrwa.com

Gaurav Jain Viewpoint

Gaurav Jain's opinion piece in Wall Street Journal on making movies in India was educational/insightful. Setting up a business in India requires a thick skin/hardwork/patience + a bit of luck.

Useful link:
http://www.illusion-i.com

Architecture Update

Nicolai Ouroussoff's viewpoints in New York Times about the imaginative effort by architects to retain the fading world of the Bedouin culture/landscape via high-tech aesthetics of the West and the traditions of the desert was a brilliant piece. I thorougly enjoyed it. Many thanks.

Useful links:
www.jeannouvel.com
www.pcf-p.com
www.heritageofqatar.org
www.qma.com.qa

Josh Humbert Viewpoint

Josh Humbert's opinion piece in JCK about the state of Tahitian pearl farming was interesting. Josh, you are passionate about pearls, and I wish you all the best.

Useful link:
www.kamokapearls.com

Industry Gallery

Brilliant contemporary designs. www.industrygallerydc.com

Annie Leonard Update

Annie Leonard, the genius behind The Story of Stuff and The Story of Cap and Trade, has released The Story of Bottled Water just in time for World Water Day. Check it out.

Useful link:
www.storyofstuff.com

App Entrepreneur

Mark Gregory's viewpoints in BBC News about new type of entrepreneurs a.k.a app developers was a brilliant piece. Many thanks.

Useful links:
http://pocketgod.blogspot.com
www.admob.com

Coral Update

According to a news release from ocean conservation organization SeaWeb, the vote to protect red and pink coral failed to receive the necessary two-thirds majority at the 15th Conference of Parties of the Convention on International Trade in Endangered Species (CITES). Sixty-four countries voted in favor of protection, 59 against it and 10 abstained. Definitely a step backward for the long-term survival of red and pink coral, really.

Useful links:
www.seaweb.org
www.cites.org
www.tooprecioustowear.org

Bostor Art Theft

John Wilson's report in BBC News about the Gardner robbery was interesting.

Useful link:
www.gardnermuseum.org

Doorway Photos

The doorway photos were brilliant. They are truly real windows into other cultures. Here are 23 of the best images. Many thanks to Budget Travel.

Useful link:
www.budgettravel.com

Gambler's Book Shop

For all things gambling related. Check it out. www.gamblersbookshop.com

Human Rights Watch Update

Loubna Freih Georges/Walter Stresemann's viewpoints in Rapaport News about blood diamonds + Switzerland's role in the global and domestic jewelry trade was educational and insightful. My view is retailers and wholesalers should refuse to purchase diamonds that originated in Marange. Those in the jewelry industry should have genuine certificates attesting the stones' legitimacy. Period.

Useful links:
www.baselworld.com
www.kimberleyprocess.com
www.hrw.org

Random Thoughts

Our culture is celebrity obsessed. We live and breathe famous people. We read magazines to see what they are doing and watch television channels devoted to their comings and goings. When are own lives do not seem nearly interesting enough we look to the famous few who live their splendidly isolated lives – isolated from any semblance of reality – and we think to ourselves, if only we were more like them.

- IdexOnline
www.idexonline.com

So true!

Baselworld Update

Ken Kessler's viewpoint in the Wall Street Journal about the Baselworld show was interesting and insightful. Baselworld is the showcase for the best new models/designs in jewelry and watches. Like every trade fair, Baselworld has its own rules, hierarchy and high costs, but still it's a must visit for those who are in business.

Useful link:
www.baselworld.com

Chaim Even Zohar Viewpoint

Chaim Even Zohar's opinion piece in IdexOnline about De Beer's mining policy was interesting. Many thanks.

Useful links:
www.diamondintelligence.com
www.debeersgroup.com
www.dtc.com

Random Thoughts

Hockey is a consummate sports analogy for trading — fast moving, full of energy, full of fight and emotion, tremendous back and forth. Nearly every winning move, from skate to stick, is chock-full of deception. Try it, you'll see.

- Jay Pasch

Gem /diamond business is no different.