News and Trends

Q&A: Shimansky


We chatted to Yair Shimansky, CEO of Shimansky Jewellers about The Cape Town Diamond Museum and what we can expect from the diamond market in the future. Shimansky set up the Cape Town Diamond Museum as a non-profit organisation. What do you believe is the importance of this museum for South Africa? Mother Nature blessed South Africa in many ways; and not just on the surface, also in the form of the world’s most precious gem buried deep within the Earth. South Africa has produced some of the world’s largest, most valuable and memorable diamonds and today maintains its position as a top diamond producer. The Cape Town Diamond Museum is unique, being the only one of its kind in Cape Town, and is the first to pay homage to the extraordinary story of the Story African diamond industry. We invite locals and tourists from all over the world to explore the fascinating world of diamonds and discover a three-billion-year-old story unfold, adding another facet to Cape Town and South Africa as a tourist attraction. The museum’s importance is to ensure visitors feel the excitement and mystery around these iconic gems, and leave feeling enriched with knowledge about diamonds and their important role in our country’s history. What makes a diamond a good investment? Diamonds are a very rare gift of nature and also limited in supply. As time goes on, there will be fewer diamonds available for consumers, especially with the growing demand from the Asian market. This makes them even more rare and valuable. Diamonds are the most condensed form of wealth storage and are a very liquid, hard-asset investment. Their size and portability allows you to take them anywhere and sell to the international market, compared to other investments such as property, which is not portable. A good diamond investment is a diamond that will appreciate over time more so than other diamonds. It’s recommended that an investment diamond is larger than 1 carat and has a high colour between D and F and a clarity that ranges between VVS to flawless. Natural fancy colour diamonds, such as fancy yellow, fancy pink and fancy blue, are also an excellent investment due to their rarity.  For example, even a low-quality red diamond can fetch more than R10 million. The one thing we cannot control is what Mother Nature will supply and which diamonds will get discovered. Based on history, statistics and mining activity and analysing all the data, one can have a pretty good picture of the future production going forward. From 2016 onwards there will be a major diamond supply and demand gap that will see diamonds escalating significantly from 2016. So now is a very good time to invest in diamonds, as we look forward to a very bright future. Which cut do you think will continue to be the most popular regardless of trends? Currently over 90% of all diamond cuts are round brilliant. This diamond shape has been popular for the last 100 years and I think it will continue to be the most popular cut going forward. Round brilliant diamonds offer the most brilliance in a diamond compared to any other cut and is a very versatile shape that can be used in almost any jewellery setting. What diamond trends can we expect to see in 2014? There is a movement towards diamond jewellery with classic designs and clean lines. Customers want designs that are beautiful today, but designs that will also stand the test of time. More people are investing in a higher quality diamond compared to a jewellery item that has a many smaller diamonds that are of less value compared to a single diamond, which is rarer and appreciates in value. Consumers are also becoming more knowledgeable about the 4Cs and the quality of the diamond’s cut. They are more discerning about their choices and tend to buy a better quality item. For more information about the The Cape Town Diamond Museum, visit capetowndiamondmuseum.org or contact 021-421-2488. Interviewed by Lindi Brownell Meiring