Wedding Ideas

Many people aren’t thinking about divorce when they choose a diamond wedding ring set, but the reality is that many people who are tying the knot are actually divorced and getting married for the second time around. Does this apply to you? It may feel strange in some ways to be on the hunt for a conflict-free diamond yet again, but most people would agree that it is important to purchase new wedding jewelry for your new relationship.

How can you start fresh with a new diamond wedding ring set?

1. Dispose of your old conflict-free diamond.

You don’t necessarily need to throw your old wedding jewelry in the trash, but you probably don’t need it sitting in your top dresser drawer or your medicine cabinet as you start fresh with a new marriage. Think about whether you would like to sell your ring. Some jewelers or pawn shops might be able to offer you a good price, but be sure to shop around. Some people also sell jewelry on sites like Ebay or Craigslist.

Another idea is to purchase a trunk or bin of some type to house your mementos from your previous marriage to store in the attic. If you have children, you probably won’t want to torch your first wedding album, so think about simply boxing up photographs, wedding jewelry, and other special items to save for your children to look at someday. If you can't decide, perhaps the safety deposit box is the best place for now.

2. Choose a diamond wedding ring set in a new style.

Select a ring set that is a different style from what you wore during your first marriage. You may wish to consider a different color (white gold rather than yellow gold, for instance), a different setting, or a different style. If you had a modern style before, think about more classic or romantic looks. If you had a very extravagant style before, think about selecting a plainer ring set.

Shop for a diamond wedding ring set that matches your new relationship!

Photo credit: ljv 

 

You are ready to propose marriage to your girlfriend, so now is the time to shop for and buy an inexpensive diamond engagement ring. But even affordable wedding rings seem may seem out of your league without a plan. What is the solution? Follow these easy budget tips to get you saving up for that conflict-free diamond ring – fast.

1. Month 1 – Instead of taking your girlfriend out to dinner at the new seafood bistro downtown on Friday night, look up a couple of easy recipes online to create an inexpensive, romantic meal at home. Put aside the money you would have spent on appetizers, entrees, drinks, and dessert in an envelope – that’s $50 toward affordable wedding rings!

2. Month 2 – Your boss asks you to pick up extra hours one Saturday to help him out. Encourage your girlfriend to have a chick-flick marathon with her friends and work those extra hours. Add that $100 to your envelope to save for a conflict-free diamond ring.

3. Month 3 – Ask your girlfriend to join you for dinner and a movie – at home. Pick up a pizza and a movie, and slop the saved movie theater ticket – drink – and popcorn money into your envelope (or savings account). You are $25 closer to purchasing affordable wedding rings.

4. Month 4 – Think about small ways to economize your budget. Downgrade your cell phone plan, wash and iron your own clothes this month instead of taking them to the dry cleaners, put your gym membership on hold for a month and jog around the neighborhood instead. Just a few economical measures could save you $75 or more.

5. Month 5 – You get your tax refund check in the mail - $250 in the bank! Combine that refund check with the $250 you already have saved, and you are ready to purchase not only a conflict-free diamond ring, but an entire trio wedding ring set – with just five months of saving! You will even have a little extra money to spend on taking her out to dinner to celebrate.

What are your tips for saving money?

Photo credit: 401K

With all the war in the news today, with all of the high-profile celebrity break-ups splashed in the deadlines, it is best to avoid conflict as much as possible in our own personal lives. Engaged couples, and soon-to-be-engaged couples, actually have an important role to play in promoting such peace and harmony worldwide.

Besides getting premarital counseling, one of the most important things that a couple can do is to seek out conflict-free-diamonds when they are in the process of selecting affordable wedding rings. Fortunately, today it is relatively easy to find beautiful and affordable diamonds that are also certified conflict-free.

Why Choose Conflict-Free Diamonds?

Most of the world’s diamonds are mined in Africa, and some of the most unstable countries in Africa have a wealth of diamond mines. Unsurprisingly, with the high demand for real diamond wedding jewelry, there is a lot of money to be made in the diamond industry. For this reason, there have historically been some unsavory political regimes that have engaged in unethical practices and have used the money from mining diamonds to fund anything from minor corrupt political practices to genocide and war. These diamonds which are tainted by human blood and human conflict are often referred to as blood diamonds.

In the last decade, it has become increasingly simple to shop for diamonds that are not sold to fund conflict in corruption. As a result of the independent Kimberly Process Certification Scheme, a large majority of diamonds on the market today are certified conflict-free diamonds. Most major brick-and-mortar jewelers and online jewelry retailers can provide their customers with the assurance that their affordable wedding rings are made from diamonds which meet high ethical standards. Indeed, a diamond ring does not need to be expensive to be conflict-free. Be certain to shop smart and invest in beautiful, affordable conflict-free diamonds to celebrate your love.

If you are planning a wedding on a budget, you will still want your wedding to reflect who you each are, and who you are as a couple. For some people, helping others and giving back to their communities are important passions. If that describes you, then you may want to think about how you can make the world a better place through your budget wedding, in addition to choosing to purchase conflict-free diamonds or incorporating environmentally friendly elements of a green wedding. You will also want to think about how to do this while still staying on budget.

Those of you who followed the royal wedding closely will be interested to know that the Duke and Duchess of Cambridge, instead of registering for tangible wedding gifts, asked their families, friends, and fans to give money to a charitable foundation in celebration of their marriage. They distributed over one million British pounds to some of their favorite causes, including charities that support sick children, military families, and environmental protection.

The royal couple may not have been exactly planning a wedding on a budget, but their ability to make a difference in the world through a celebration of their love can be pulled off on any budget. Here are a few ideas to get you started.

-Purchase wedding jewelry made from conflict-free diamonds
-Use reusable rather than disposable dishes and decorations
-Donate to a favorite charity instead of purchasing wedding favors for your guests
-Register for some charitable gifts in addition to more traditional gifts
-Choose to use local businesses rather than large chain stores as much as possible for your wedding vendors to help your community’s economy
-Send your guests home with tree seedlings to plant in their yards as a wedding favor

What other creative ideas do you have for making a difference on your wedding day?

Photo Credit: Corey Ann

A real diamond wedding ring set is an investment that will last a lifetime if you take proper care (http://www.mytriorings.com/how-to-care-for-your-wedding-ring-set.html) of your conflict-free diamonds. However, that doesn’t mean that you need to go into debt to purchase a wedding ring set that you will be paying off in small monthly payments for a lifetime. Smart couples will choose beautiful diamond wedding jewelry that they can afford, in order to start their marriage off on the right financial footing. By avoiding expensive brick-and-mortar boutiques and doing comparison shopping online, most couples can find the wedding ring set of their dreams without breaking the bank. Let’s take a peek at some of the options.

World Jewels

From World Jewels, the least expensive option is a 7/10 carat diamond wedding ring set with 14 K gold for $799.99. This price is for a diamond cluster wedding ring set that only includes an engagement ring and a women’s wedding band, not a men’s wedding band, which you would need to purchase separately. World Jewels offers free shipping and a limited warranty plan, but its cheapest wedding ring set option is still quite pricey.

Gordon’s Jewelers

Gordon’s Jewelers offers a lovely 1/4 carat diamond wedding ring set mounted with 10 K white gold for $579. This wedding ring set also only includes an engagement ring and a ladies’ wedding band. Although Gordon’s offers free shipping, the need to purchase an additional ring makes this an expensive option.

My Trio Rings

My Trio Rings offers a selection of different affordable trio wedding ring sets for under $500. These sets include the engagement ring, the ladies’ wedding band, and the men’s wedding band for one low price. One of the best deals is the 1/4 carat conflict-free diamond wedding ring set with 10 K white gold for $379.99. My Trio Rings offers excellent customer service, free shipping, and a strong warranty for every purchase.

Real diamonds are an excellent investment for couples to make. Conflict-free diamonds are both beautiful and long-lasting. Imitation wedding jewelry, on the other hand, can tarnish, cause skin problems, or simply not last as long as your marriage. Fortunately, it is easy to budget for affordable wedding jewelry made with conflict-free diamonds. With proper care, your diamond wedding ring set will last a lifetime, and you may choose to pass your wedding jewelry on to your children or grandchildren.

1. Remove Your Wedding Ring Set

Most jewelers recommend that you remove your rings before you dig around in the garden or go swimming. Others also recommend that you also remove your rings before exercising, showering, and washing the dishes in order to keep it safe from dirt, scratches, chemicals, and the like. When you temporarily remove your wedding ring set, be certain to put it in a safe place where it won’t get lost or get scratched by other jewelry.

2. Clean Your Wedding Ring Set

Residue from personal care products such as soap and lotion can build up and make your ring less shiny. Clean your wedding ring with a mild soap and water using a soft toothbrush to loosen dirt under or around your diamonds. For dirtier rings, mix a solution of half ammonia and half water to gently scrub your ring. Many local jewelers will also professionally clean your ring for free, even if you did not purchase the ring from their store.

3. Inspect Your Wedding Ring Set

At least once a year, take your wedding ring set to a jeweler to have it professionally cleaned and inspected. You may not be able to see loose stones or other problems with the setting of your wedding ring set, but the jeweler has special tools to inspect the security of your diamonds.

What are your best tips for caring for your wedding jewelry?

Photo Credit: Pat David

As bloody political tensions flare in Africa’s Côte d'Ivoire between rival presidential candidates, international Kimberley Process watchdogs are tightening their control of the diamond industry to be certain than conflict diamonds are not smuggled into the hands of unsuspecting consumers.

Almost a decade ago, the Kimberley Process was started by the United Nations to prevent the sale of diamonds that fund war and conflict in Africa and around the world. These diamonds are commonly known as blood diamonds or conflict diamonds. Since the establishment of the Kimberley Process, the sale of conflict diamonds has decreased from about fifteen percent of all diamond sales worldwide to less than one percent of all diamond sales worldwide. Currently, the only two countries under close scrutiny by the international Kimberley Process members for trying to sell conflict diamonds are Côte d'Ivoire and Zimbabwe.

New strategies to avoid the sale of conflict diamonds are making the news. Techniques to provide consumers with conflict-free diamonds they can be confident in include a method of tracing the geographical origin of diamonds through the identification of chemical “fingerprints.” This mapping process makes it more difficult for countries like Cote d’Ivoire to obtain fake certification to put conflict diamonds into affordable wedding rings.

Smart consumers should seek real, conflict-free diamonds as they search for affordable wedding rings. One of the best ways to do this is to choose a reliable jeweler. My Trio Rings purchases all of their certified conflict-free diamonds directly from the DeBeers mines, so you can be confident your rings are good for your wallet as well as good for society.

Photo Credit: Stevedepolo

As you register for wedding gifts to complement your green wedding, choose items that are environmentally sustainable and will last you and your spouse a long time. It can be difficult to find wedding registries through websites that specialize in eco-friendly products, so consider creating a registry at MyRegistry.com, a universal gift registry site that allows you to pick and choose your favorite gifts from different sites and compile them into one easy online registry. Opt for products made from environmentally friendly materials, and pick energy-efficient appliances. As you and your partner choose special items with which to start your life together, be sure to choose gifts from different price ranges to accommodate your guests’ different budgets.

Here are some must-have green wedding gifts:

1. Organic cotton flannel sheets from Gaiam.com, a website that offers a wide range of quality green home products from comfy chairs to water-saving shower heads.

2. Customized recycled glass tree plate from UncommonGoods.com. Hang it on the wall, display it on your dining room table, or use it as a special place to store your conflict-free diamond rings on your dresser at night.

3. A set of bamboo cutting boards from 3rLiving.com. Bamboo is a renewable material that is both durable and anti-microbial.

4. Designer reusable shopping bags from Envirosax.com to give grocery shopping with your new spouse a green twist.

5. Washable cloth napkins from TenThousandVillages.com and GIANNAFairTrade.com, eco-friendly retailers that carry handmade items from underprivileged artisans around the world. All of GIANNA’s products are fair trade.

6. Organic cotton bath towels from PotteryBarn.com for both the master bathroom and your guest bathroom.

7. Recycled metal serving set from TheHungerSite.com, a website that sells fair trade and eco-friendly green wedding gifts from around the world.

8. Recycled glass tumblers from GreenWithGlamour.com to serve your family and your guests with style you can feel good about.

9. Long-lasting bamboo cooking spoons from GreenFeet.com. Bamboo cooking spoons are more eco-friendly than wooden or plastic spoons, and they last just as long.

10. Charitable gifts to help those in need. Ask your guests to help reforest Haiti hillsides or pollinate fields in Uganda with Heifer.org.

Photo Credit: Melissa

The Desirability of Diamonds

Most couples today choose to purchase real diamonds when they shop for affordable engagement ring sets. Diamonds are beautiful and durable stones that last a lifetime, which is one of the reasons why they are a popular choice for wedding rings. Diamonds can be expensive, but smart couples have several easy methods to invest in responsibly-mined diamonds at an affordable price. One of the main things that couples need to look for as they shop is conflict-free diamonds.

The Dark Side of Diamonds

More than half of the world’s diamonds are mined in Africa. In the 1990’s, the problem of conflict diamonds, or blood diamonds, became widely publicized. Rebel groups in nations such as Liberia and Côte d'Ivoire took over the diamond industry in their countries and used the profits to purchase weapons and fund civil wars against their governments. Some of these conflict diamonds were indirectly smuggled into the hands of unsuspecting jewelry buyers.

The Global Response

In response to the problematic growth of conflict diamonds, several organizations and companies banded together to create a strict global diamond certification process known as the Kimberley Process in order to help ensure that diamond customers worldwide were not purchasing conflict diamonds. As a result, diamond buyers today can be confident that they are buying conflict-free diamonds as they shop at just about any reputable jewelry store.

What You Can Do

As you search for affordable engagement ring sets, be certain to consider the source of the diamonds before you buy. Although most jewelry stores in the United States sell certified conflict-free diamonds from legitimate sources, it is better to be safe than sorry. DeBeers, the jewelry company that many U.S. jewelers use as their source for diamonds, was instrumental in starting conflict-free diamond certification through the Kimberley Process. They believe that 99.8 percent of diamonds on the world market today are conflict-free as a result. If savvy consumers continue to demand responsibly-mined diamonds for their wedding jewelry, perhaps we can eliminate the sale of conflict diamonds altogether.

My Trio Rings proudly sources all its diamonds from the DeBeers mines so you can be certain that your wedding rings have conflict-free diamonds.

Photo Credit: Swamibu

In today’s shaky economy, it is tempting to sacrifice quality in order to save money, even when it comes to weddings. Many couples searching for gold and diamond wedding bands consider purchasing fake diamond jewelry, since it is significantly cheaper than even discount wedding ring sets made from real diamonds. But despite these savings, it does not make sense to start a life together with jewelry that will not last a lifetime. And that is not the only reason why the smart couple chooses real diamonds. Here are four reasons why:

1. Diamonds are stronger than cubic zirconia.

A cubic zirconia ring is much more likely than a real diamond ring to be damaged by everyday mishaps such as bumping into a wall while carrying a moving box or having your ring gnawed on by a teething baby. Since clumsy moments are unavoidable for many of us, having jewelry than can weather such blows brings peace of mind.

2. Diamonds shine from every angle.

Cubic zirconia rings can look dull when looked at from different angles. They also can have coloration or a shine that looks different from the brilliance of a real diamond. This difference makes it obvious to knowledgeable observers that the stone is not real. Cubic zirconia rings are also more likely to get cloudy or discolored than gold and diamond wedding bands that are properly cared for.

3. Diamonds are considered to symbolize a lifetime commitment.

Some people think it is bad luck to get married without a genuine diamond ring to seal the deal. It may be a superstition, but it makes sense that people are leery of representing their lifelong bond with jewelry that may not last as long as their relationship. If the wedding rings won’t last, will the marriage?

4. Diamonds are a good investment.

Unlike costume jewelry, high quality real diamonds have historically gained value over time. And although you are unlikely to sell your wedding ring to profit from this gained value, it is nice to know that the keepsake you may pass on to your grandchildren will have more than just sentimental value. And with a little polishing, that family heirloom will look as good as new.

Fortunately, there are easy ways to save money on gold and diamond wedding bands, such as buying a diamond cluster ring rather than a diamond solitaire, or purchasing discount wedding ring sets online. Real diamond rings can fit into any budget with careful planning and comparison shopping.

Diamonds are the hardest known precious stones on Earth. They record a 10 on the standard Mohs scale of hardness, a scale that peaks at 10. Their extreme hardness originates from the combination of heat and pressure deep within the Earth over long periods of time. Ultimately, when a diamond is mined, it is mined in a rough form and in various shapes, colors and sizes.

Diamonds are mined primarily through pipe mining. Volcanic eruptions deep within the earth bring diamonds close to the surface where they can be mined. Pipe mines run far down, the deepest of which are up to 100 miles down. Large rocks containing diamonds are blasted out of the Earth, and brought up to be crushed and processed. The chunks are then sent to refineries to be screened for rough diamonds.

Mines located around the world in India, Russia, Canada, and Australia drill deep into the Earth and produce about 27,000 kg of diamonds a year. Of this, only about 20% of the rough diamonds mined are deemed good enough to be cut and polished for use in jewelry, while the rest are used for industrial purposes.

The rough diamonds that are good enough for jewelry are distributed by large companies, the largest of which is the De Beers Central Selling Organization. These rough diamonds are priced and sorted into over 5,000 categories, and traded to private buyers. These buyers ultimately send the rough diamonds to a cutting center to be cut and polished, after which they can be placed into a piece of jewelry.

Up Next: How is a Diamond Cut?

There are some who when looking for a wedding ring set for their upcoming wedding decide that they want simply the most affordable wedding ring they can find. There’s nothing wrong with that, and especially with the troubled economy of the past few years, this is extremely justifiable. Even though a wedding is a presumably once in a lifetime event, it is becoming more acceptable today to try to find cheaper alternatives to traditional rings that cost over $12,500. However, it is generally agreed upon that an engagement ring should have real diamonds, and not fake stones such as cubic zirconium. Even though there are a few who believe a Cubic Zirconia diamond is good enough and indistinguishable from a real diamond, there are many differences and ways to tell them apart quickly and easily.

Diamonds have been a staple of wedding rings for over a century now, and a diamond ring is almost synonymous with a wedding or engagement. A diamond is the hardest and toughest stone in the world, and nothing can break it. The only way to scratch a diamond is with another sharp diamond. However, many who are looking for cheaper alternatives tend to look at cubic zirconium diamonds as a cheaper alternative. While the price difference is huge, Diamonique and other fake diamonds have been known to cloud up or scruff up, and many consider fake diamonds to be bad luck for a wedding. More so, most jewelers and others familiar with diamonds can immediately tell the difference because a fake diamond will have a tell-tale rainbow like sparkle from it, while a real diamond has a trademark white shine, also known as its brilliance.

While most jewelers and people who are familiar with real diamonds can almost immediately tell if a diamond on a piece of jewelry is real or fake, there are many objective methods to tell if a stone is genuine. Many jewelry stores will perform a free heat test to your diamonds. During this test, they will heat it up for a few seconds and see if it holds the heat. A real diamond disperses heat quickly and won’t heat up during such a test. There are also tools available with the use of a diamond tester and a hardness test.  Also, a cubic zirconia and most other fake diamonds typically weigh 40-70% more per carat than a real diamond, a difference that is immediately obvious when you weigh the stone in question and compare it to what a real diamond of that carat size should weigh.

Since the above methods may be difficult for most people to check the diamonds in their rings personally, there are some easier ways to check if a stone is real. For example, a simple fog test can help you figure out if a stone is real. This can be done by fogging the diamond with your mouth. If it’s a real diamond, the fog won’t stay very long and will evaporate almost immediately. Another way to test a diamond is by placing it under a UV light or a black light, since a real diamond will reflect medium to dark blue fluorescence. Finally, fake diamonds tend to seem dull when looked at from the side, while a real diamond will have equal shine and brilliance from every angle.

There are many other ways to test a stone, but the best and most certain way to test if a diamond is real or not is to ask the retailer to give you a certificate of authenticity for the diamonds used in the item. Most prominent jewelers will provide a detailed certificate from a diamond lab such as GIA, the Gemological Institute of America, or EGL, the European Gemological Laboratory. Both are independent and unbiased and will give you a proof without a doubt whether the diamonds in question are authentic.

MyTrioRings guarantees its diamonds are authentic, and is happy to provide a diamond certificate of authenticity upon request, for a standard fee. Simply call or email us to request a diamond certificate for a new purchase or a trio rings purchase you have already made. A Trio Wedding Ring Set is the perfect way for you to save money on gold wedding rings yet have the satisfaction of owning real diamonds. Check out our large selection of Diamond trio ring Sets, as well as our Yellow and White gold trio ring sets. When the Ladies Engagement ring, Ladies Wedding band, and Men's Wedding band are together in a matching set - this is called a Trio Wedding Ring Set.

One question that we at MyTrioRings get very often is whether the diamonds used in our diamond trio ring sets and other jewelry such as our diamond necklace specials include any conflict diamonds, which are often referred to as blood diamonds. Our answer, displayed on every product page, has consistently been our guarantee that “Our diamonds are all authentic naturally mined diamonds and guaranteed to be from reputable and conflict-free mining sources.” Blood diamonds or conflict diamonds have been a point of concern for decades now, but there is very little proof that most diamonds available in the United States today are funding bloodshed in Africa.

The United Nations defines conflict diamonds as “diamonds that originate from areas controlled by forces or factions opposed to legitimate and internationally recognized governments, and are used to fund military action in opposition to those governments, or in contravention of the decisions of the Security Council.” The popular movie titled Blood Diamond, which came out in 2006, shows the horror and bloodshed that is associated with diamonds mined in Africa. Set during the Sierra Leone Civil War of 1999, the movie shows the RUF rebel group of Sierra Leone enslaving villagers to mine diamonds that they would then trade directly for guns.

In 2001, in response to outcry from many about the news about the wars in Africa raged over diamonds, the UN called for the creation of an international certification scheme for rough diamonds. The result was a piece of legislation titled, the Kimberly Process, which enforces rigorous requirements on diamond producers to certify shipments of rough diamonds as “conflict-free” and actively prevent conflict diamonds from entering the legitimate market. For example, when the UN deemed that Liberia was being used as a vehicle for exporting conflict diamonds by the RUF rebel group of Sierra Leone, the country was banned from the Kimberly Process, and its exports of diamonds were forbidden.

Today, diamond holding company De Beers controls about 35% of the world’s supply of diamonds, and is the direct distributor of the diamonds that are used in the trio wedding ring sets and jewelry available on MyTrioRings.com. De Beers commits fully to preventing conflict diamonds and only distributes diamonds from its own mines. This way it can guarantee that its diamonds are completely conflict free. De Beers has a highly regulated and restricted process for distributing its diamonds, and not ever jeweler and diamond distributor is granted access to its diamonds.

This means that you, as a retail customer of diamonds today, can shop with complete confidence that the diamonds on MyTrioRings.com are 100% conflict free. In your search for the perfect wedding ring set, however, it is important for you as a consumer to ask questions and ask the vendor if they know whether or not the diamonds they sell are in fact conflict free. While actions such as the Kimberly Process are helping make the world’s diamond supply safer, for the effort to be a success, it requires diligence from everyone involved in the process, ranging from diamond producers, all the way to consumers. To help the cause, do your part so that you can purchase your diamond rings with a clear conscience.

The United States was once seen as the emerging front of the diamond market. It was the land of the American Dream, mass-consumerism, and new money. However, the United States’ economy is lagging behind the high growth markets in the east, namely India and China. While demand for Diamonds in the United States fell after the global economic crises in the past decade, markets have in fact surged in the East, to the point where within a decade, Chinese demand for diamonds could reach the same level as the United States.

De Beers has long been the monopoly holder of diamonds in the world, amassing about 95% of the World’s supply of diamonds at one point. They source their diamonds from Africa and India, and release it through select avenues and retailers on a limited approval basis. In an interview this month with London’s Financial Times, the Managing Director of De Beers, Garreth Penny stated that “What we’re now seeing, with China growing as rapidly as it is, [is] annual double-digit growth compounded over a period of five years.”

However, it appears that the surge of the diamond market in China is not solely due to the solid performance of the local economy and stock markets. A lot of it has to do with the wedding culture and traditions in China. According to Penny, 20 years ago, it was rare for Chinese brides to receive diamond engagement rings. However, today about 50% of couples married in Beijing, Shanghai, and Guangdong buy them.

The growth of the diamond market in China is significant, since in 2009, China only accounted for 6-7% of the global diamond market, while the United States accounted for about 40% of it. De Beers has forecasted the Chinese demand to more than double by the year 2016.

A similar trend is visible in India today, where “the diamond jewelry business has been showing a growth rate of about 15% at a time when [just gold jewelry] has shown negligible growth.”The diamond jewelry market in India has been surging, and is representative of similar activity in India. According to experts, this is because with gold prices at an all time high, consumers are moving from investing in pure gold to diamond jewelry.

According to latest figures, in May 2010 alone, India’s polished diamond exports rose 73% from last year, to almost $1.8 billion. India has long been labeled a major hub of diamond cutting and polishing, and has a hand in 9 out of 11 diamonds that are produced around the world. Apart from India, Honk Kong and Dubai are also emerging as key trading areas.

It will be interesting to see how the balance of power between diamond trading centers shifts over the next decade. While the diamond industry is rebounding well from the global economic collapse of the past decade, there are many issues the diamond industry must deal with over the next decade, especially a decline in the diamond supply in the future. According to Penny, “These great mines that were discovered 10, 20, 30 years ago are not being replaced today. According to the data that is out there, we’re going to see some significant declines in diamonds.”