RAPAPORT Profile: David Gavin

RAPAPORT Profile: David Gavin

Click here to read the full interview on Rapaport

The Diamond Bourse of Canada began operations in 2010, providing a bourse to the world’s third-largest diamond mining country by value. David Gavin was re-elected to a second term as president of the bourse at the end of May this year.

Name: David Gavin
From: Canada
Company: Diamond Bourse of Canada – President

Rapaport News: What characterizes the Canadian diamond jewelry market? Does it mirror the U.S. market?

DG: It is similar to the U.S. market but on a smaller scale. The recently approved Signet acquisition of the Canadian jewelry chains People’s and Mappin’s, which fall under the Zale banner, is a good thing for the Canadian market because such players tend to bring fresh ideas into the marketplace. In general, there’s a lot of cross-pollination between the U.S. and Canadian markets.

This means that there will be some synergies for the Canadian bourse and the U.S. market because we do have some U.S. members that don’t have offices and locations in Canada. The bourse gives them a place to hang their hat when they come and it gives them some sort of reference point in terms of finding customers.

The same is true for our Canadian members. We are a resource and a reference point for them. We can point them in the right direction depending on their needs. We really are a compass for them in terms of being plugged into certain associations or interest groups where we can see what trends are emerging in the market and help guide our members. 

Our membership with the WFDB will also provide access to all of the diamond bourses around the world. It will expose us to all of their events and things that are happening around the world that we haven’t had access to before. This means that we will receive a whole new source of information that will be of great use to our members.

Click here to read the full interview on Rapaport

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Genesis Rare Diamonds Sells 15-Ct. Asscher Cut for $3M

DBC Member Genesis Rare Diamonds, in the News!

Genesis Rare Diamonds (Ontario) Ltd., sold a 15.10-carat, D, flawless, Asscher cut diamond to a client in Canada for  $3.3 million.asscher cut

Jeff Kushner, the president of Genesis Rare Diamonds, said, “The buyer of the diamond, an existing client of Genesis, stated to us several years ago that she was seeking an Asscher cut, D color, internally flawless diamond of approximately 10 carats and that she has been searching for such a diamond for almost 20 years, but to her dismay she was unable to source one.”

Kushner explained that they attempted to source the diamond, but it was not until several weeks ago that they were finally contacted by one source with a perfect match. Negotiating the transaction was “a tedious and complicated affair,” Kushner said, however, “both seller and buyer acting reasonably agreed upon a price acceptable to both parties and the transaction was concluded on October 22, 2013.”

The diamond’s Gemological Institute of America (GIA) grading report disclosed “excellent” cut with “excellent” symmetry and no florescence and classified the stone as type IIa, according to Genesis.

“The aesthetic beauty of this extremely rare and valuable diamond is a testament to the individual who painstakingly cut and polished this ‘miracle of nature,’” said Kushner.

Oh (A Bourse in) Canada!

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Oh (A Bourse in) Canada!

To find out more about this burgeoning bourse IDEX editor-in-chief Danielle Max put some questions to Diamond Bourse of Canada (DBC) president David Gavin.

Crossworks and Chow Tai Fook Sign Supply Licensing Agreement

Congratulations to Diamond Bourse of Canada founding member Uri Ariel of HRA/Crossworks on entering into a long-term supply and licensing agreement for Crossworks’ patented hearts and arrows ideal-cut square diamond with Chow Tai Fook Jewellery Group LtdImage

Crossworks and Chow Tai Fook Sign Supply Licensing Agreement
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=44411