WFDB Calls for Further Debate on Issue of OvergradingMay 18, 15
(IDEX Online News) – World Federation of Diamond Bourses (WFDB) president Ernie Blom has expressed his support for the industry-wide debate on the current problem of overgrading and said it will be one of the topics on the agenda of the upcoming President’s Meeting.
"It is critical for our industry members, in different forums, to hold these debates," said Blom. "We need to discuss this and other issues, on an ongoing basis to find some sort of industry consensus on the direction we need to take and possible solutions.
"We will be discussing the issue of overgrading, for which there must be zero tolerance, at the Presidents’ Meeting. Is there a way of arriving at an industry consensus on grading scales to prevent confusion and to aid consumers in selecting diamonds? We must always remember that the end-buyer is critical and our aim is to help create tools that put the customer completely at ease with a purchase," Blom added.
The two-and-a-half-day Presidents meeting, a biennial gathering of the leaders of the 30 diamond bourses affiliated to the WFDB, and the International Diamond Manufacturers Association (IDMA's) 16-member organizations, will be held in Tel Aviv from June 14 to 16.