Global Diamond Exchange Merger Renovations

Global Diamond Exchange of New York, N.Y., has announced updates for shareholders concerning its business strategy of merger and acquisition with Sib Almaz. Completion of the transaction is expected in September of 2007 and as more details come forth the exchange has mentioned it will update.

With respect to the company's current business operations at its wholesale 46th Street office in New York, they're remodeling, including new furniture, fixtures and equipment. Confident that 60 to 70 percent of its business surmounts in the Fall, Global intends on increasing its staff for sales details to consumers and buyers by that time. In this case wholesale means Global Diamond Exchange Inc. has specialized in selling groups of stones or "lots" instead of individual pieces. This wholesale capacity gives the company significant inventory options. After renovations buyers will have better access for viewing individual pieces at 2 West 46th Street, the projected staff increase intended to accommodate its market now primarily from North American, European and Russian Federation buyers.

Massive diamond carats in raw form, many also cut and polished, are imported from Angola, Botswana, South Africa and Russia according to the World Diamond Council. These regions currently offer the largest diamond world trade. The country of Angola has a six-million carat per year export capacity from its mines and showed record growth during 2007. Since the year 2003 and intervention by the United Nations, at least 250,000 miners and smugglers have been deported. Unfortunately this same country that exports $2.2-billion worth of rough diamond rock also relinquishes $375-million in lost revenue due to illegal smuggling. Diamond matter trafficked into countries unrecognized by customs officials not only degenerate inventory value but also deplete our luxury tax revenue. Other smaller countries which are consistent diamond exporters include Venezuela and Guyana, South America. Global Diamond Exchange Inc. currently advertises a lot of its diamonds are mined in Russia and displays images from their website catalog.

Diamond and authentic jewelry sellers are required to staff at least some workers with certification from GIA or the Gemology Institute of America. Cut, color, clarity, style, shape, proportions and workmanship are just some of the many ingredients required not only to create a beautiful diamond but to rate it as well. Carats are derived from its weight and each newly purchased diamond includes a grading report indicating the number of carats in the item for sale. Some conservative yet very popular cuts include emerald, oval, marquise, brilliant, baguette, heart shape, pear and single cut. The African Cullinan stone discovered in 1905 weighed 3,106 carats and was considered a fragment from a larger piece by crystallographers. One-hundred and five precious and highly rated gems were later derived from it.

Pink, champagne and purple hued diamonds are currently being exported from Australia. No color or white diamonds offer the most value, the rarest or red diamonds are also mined in Australia.

Although the renovations of the 2 West 46th Street building of Global Diamond Exchange haven't been finished, they're open for business. The globaldiamondex.com website currently displays a price list and photographs of exquisite diamonds for sale. One eye opener for a dream catcher is the 34 carats black diamond being offered at a price of $500,000, and really has a sleek and unique appearance. A more affordable marquis cut of .51 carat is $1,250 and a mid-range show-stopper is an 8.68 carats emerald cut diamond at $221,000. The company Rockefeller sales center and the West 46th street building that's being revamped originally opened in 1988 and premiered the business.