Articles

The RJC Code of Practices policy

The RJC Code of Practices policy

The RJC Code of practices policy defines the Eurostone Diamonds standards on business ethics, human rights, social performance and environmental performance against which Eurostone Diamonds are to be certified. A key feature of RJC certification is the requirement for independent third party auditing of Eurostone Diamonds management systems and performance. The RJC certification system also establishes mechanisms for early identification of issues, corrective action, and enforcement methodology.

The Eurostone Diamonds Code of practices covers a wide range of sustainable development issues, and is applicable throughout the supply chain, from rough diamonds to jewellery retail to the final consumer.

As Members of the Responsible Jewellery Council, Eurostone Diamonds seeks economic, social and environmental benefits from its business activities so that the company contribute to sustainable development following the guidelines:

 

  • we are committed to conducting our businesses to a high ethical standard, and to ensuring integrity, transparency and conformance with applicable law.
  • we will not engage in bribery and/or corruption.
  • we will not tolerate Money laundering and/or financing of terrorism.
  • we will adhere to the Kimberley process Certification system and the world Diamond Council voluntary system of warranties.
  • we will take reasonable measures to ensure the physical integrity and security of product shipments.
  • we will respect the fundamental human rights and the dignity of the individual, according to the United nations Universal Declaration of Human Rights.
  • we are committed to high standards of health and safety in our operations.
  • we will adhere to working hours and remuneration legislation,
  • we will conduct our business in an environmentally responsible manner.

Download RJC Code of Practices

Pini Netzer

Founder and CEO

Eurostone introduces Fancy Shape Price Calculator

Eurostone introduces Fancy Shape Price Calculator

 

Israel-based Eurostone, leading expert manufacturer of custom-cut and calibrated polished diamonds for the luxury watch and high-end jewelry markets, has launched the Fancy Shapes Price Calculator. This is a first tool of its kind in the diamond industry, aimed specifically at the fancy shapes, in calculating the price points of custom-cut, straight-edged fancy shapes.

“Online-based calculators for round diamonds pricing have been around for a while, “ saif Eurostone CEO Pini Netzer, “but with the Fancy Shapes Calculator, we’re really bringing  a completely new tool into the diamond market!”

Free of charge, the calculator is easy to use. When entering data, it requires users to provide specifications of the size, shape and clarity, and within seconds,  an accurate price quote is delivered.  “Of course, the clients’ final price quote is based on the integration of the latest industry pricing standards, cost calculation and current pricing data acquired via Eurostone’s wide network of diamond professionals,” Netzer added.  “But with the calculator, for our clients we’re taking most of the guesswork out of the equation.”

Netzer, who enjoys a global reputation as one of the best custom-cut diamond cutters of straight-edged fancy shapes, spearheaded the calculator’s planning and implementation as part of what he hopes will be a modernization of the fancy cut diamond industry.

“With the calculator’s introduction, we’ve taken another, but big step to lower the threshold for our clientele,“ Netzer says. “There will much less need for cumbersome fax messages and long telephone conversations to offer customers estimates. The greatest innovation about the Fancy Shapes Price Calculator’s is that it gives watchmakers,  jewelers and designers the ability to calculate their own costs and thus provide a highly accurate pricing to their customers – an option unheard of, until now. This, of course, promises a much smoother production process, on both Eurostone’s and the customers’ end,” he concluded.

Access the calculator at: eurostone.co.il/diamond-price-calculator/

Suppliers struggle to keep up with diamond demand

Suppliers struggle to keep up with diamond demand

Financial Times Supplement Watches & Jewellery

November 10, 2013

 

Claire Adler reports on the groups that are burning the midnight oil as they provide fancy cut gems for sophisticated Swiss watches

 In a global market experiencing the pressures of recession, one area of the luxury watch and jewellery industry is stable for the companies that specialize in it – the niche for unusually shaped diamonds on watches.

 Some in the business say it is a struggle to keep up. “The demand for what we call fancy cut diamonds, like baguettes, square, pear and marquise shaped diamonds, for sophisticated jewellery watches is so strong that we are burning the midnight oil to keep up with our delivery deadlines,” says Pini Netzer, chief executive of Eurostone, a company that has been supplying diamonds to watch companies for more than 20 years.

 “When large watch houses choose a size and shape of diamond they want, they will often pay a high price but they can also dry out our supply.”

 Eurostone supplies diamonds to watch brands owned by the three big luxury watch groups, Richemont, the Swatch Group and LVMH as well as privately owned large brands. While the companies specialising in small round stones, called melée, are largely based in India and sometimes Belgium, the diamond manufacturers focusing on alternative shapes are mostly located in Israel.

 A coterie of Israeli companies supplies the highest echelons of the Swiss watch industry, using technology often developed by Israel headquartered Sarin Technologies, to cut unusually shaped diamonds with meticulous precision and generate design options electronically.

“If a watch company decides to put a diamond-set watch in its catalogue which contains, for example, one carat of diamonds of a specific shape and quality, that might be 100 stones of 0.01 carat, each one millimeter in size. Watch companies can sell specific designs around the world for several years. For 10,000 watches, that amounts to a 100,000 stones,” says Mr. Netzer.

 “They might tell us this in January and require the watches to reach the shops in September. This can put enormous pressure on the demand for particular stones.”

 The appeal to the diamond companies of securing powerful watchmakers as customers is clear. “The watch companies are prepared to pay for the best, they are extremely selective and they belong to large groups, which means we can trust them as good payers,” says Mr Netzer, whose company specializes in fancy cuts of between 0.02 carats and one carat. “The down side is that, when they no longer want a particular stone, its price can drop significantly.”

Companies that sell unusually shaped diamonds to the top Swiss watch groups claim that supplying diamonds for watches is very different to supplying diamonds for jewellery.