November 25th, 2005
By Charles Wyndham.
The news that Boney has lost his exclusive contract to act as a post box for the GIA collecting and sending stones for certification is poignant.
After all, Boney told us that his business with the GIA was financially significant for his Rapaport group.
What Boney did not tell us was that he had the exclusive contract to provide this highly profitable business to the GIA.
As I wrote before I am in a bit of a quandary as I never had any doubt that it would be financially significant for him but what was the benefit for the GIA?
Why was Boney given an exclusive contract? Why were other offers to do the same for less not taken up?
However, what makes all this most satisfying is to think that whilst Boney was railing against De Beers, the DTC, the monopoly, the EU anti competition authority, Supplier of Choice, the contract with Alrosa and last but not least accusing Diamdel, the De Beers wholly owned subsidiary, of being “evil”; that is in contrast to him proclaiming the virtues of his own business including “development” diamonds and more to the point his deliberately misleading and blatantly opaque price list.
There was good old Boney, running yet another of his own monopolies with the GIA.
Almost makes me think that my chum’s cat that I wrote about sometime ago, Vomit, has used up a few of his nine lives and popped up again..
December 25th, 2005
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