The cannibalization of the natural rough diamond market by lab-grown diamond (LGD) producers continues to rapidly gain momentum: the De Beers’ Lightbox brand began selling LGD engagement rings on its website. It is quite safe to say even now that the dearest hopes of natural diamond producers for a fundamental separation of markets and giving the fashion jewelry status to LGD jewelry turned out to be unfulfilled as engagement rings cannot be fashion jewelry by definition, and it should be recognized that LGDs advance steadily on the way to enter the most “tasty” and traditional sectors of the polished diamond market. The market structure is changing radically, which inevitably entails far-reaching consequences. It was to be expected that “tectonic disturbances” in the polished diamond market would trigger the development of appropriate images in pop culture, primarily in cinema, that would add era-specific features to the polished diamonds' aura and would facilitate the transformation of their perception by end consumers in the right way. But all of this happens at a surprising pace.
Coincidentally or not, but 2023 was marked not only by aggressive expansion of LGDs, but also by the release of the “Rough Diamonds” TV series, a co-production from Israel’s Keshet International, Belgium’s De Mensen for Netflix and Vlaamse Radio en Televisieomroeporganisatie (VRT). According to Flix Patrol, the series ranked sixth on Netflix within several days of its first release in April 2023 and became one of the most watched crime dramas. Belgian actor Kevin Janssens starred in the film created by Israeli director Rotem Shamir and screenwriter Yuval Yefet.
The plot of the film is offbeat. A head of a company trading in rough diamonds has committed suicide in the Antwerp diamond district. An orthodox Jewish family has owned this established company - renowned in diamond circles - for several generations. The brother of the suicide victim, a successful businessman with the manners of a noble superman, arrives from London to clarify the tragic circumstances. At the same time, the Antwerp police is conducting its own investigation of the circumstances of the suicide of the major diamond dealer. The two investigations carried out by the family and the police intertwine and reveal the unexpected seamy side of the reputable company’s activities - the links to Islamic radicals who use diamond deals in the illicit trafficking of weapons and drugs. And the main character, who at first seems as a “knight without fear and beyond reproach”, an affectionate brother and a loving father, turns out to be a representative of a major drug cartel. All the characters, including policemen, use rather illegal methods when they try to solve problems arising during the investigation. The audience sees the attractive world of rough diamond dealers - seemingly built on the concepts of honor and respectability, as well as on respecting one’s words and commitments and on scrupulous choosing one’s partners and contractors - as a criminal cesspit where everyone can betray and cheat any other person as soon as any “tangible” profit is at stake. At the same time, all the characters constantly talk about orthodox values, trust, respect for traditions and hard-and-fast rules. The “Mazal U’Bracha” approach seems to be used everywhere! Until it comes to action...
The details in the series are impeccable - so, the consultants’ professionalism is highly commendable. The scenes of the election of the president of the diamond exchange and the preceding vote-trading between representatives of the Jewish and Indian communities convincingly show that the filmmakers hold deep insight into the material. As for understanding the realities of the diamond market, perhaps, it is safe to say that “Rough Diamonds” is far ahead of all the cinema products ever released on this topic. It outstrips “Diamonds are forever”, “Snatch” or “Blood Diamond”, it has no elements of farce, grotesque or a western. It is an accurate, convincing, and realistic story.
What kind of opinion on the market should this film shape in natural diamond consumers? That's right - only rascals who hide their cynicism and greediness under sweet talks about ethics and their oaths of adherence to traditions deal in natural diamonds. It is the rarest case for Netflix series as there is not a single good guy! Even the main character, such a courageous and charming person, turns out to be a drug dealer. It’s a very timely film, just a good example of countermarketing of natural diamonds.
The film is so realistic that the audience cannot help but wonder, “How typical is this for our time?” Rough and polished diamonds, due to their high unit value and easy covert transportation, have always attracted focused attention of criminal and radical characters and organizations - this is a well-known fact, one might say, an axiom underlying numerous documentary and fiction stories since the 19th century. But can all this happen in our time, in the 21st century, in the center of Europe, in the Antwerp Diamond District where transparency and respect for law seem to reign? Making undocumented deals, taking part in drug trafficking, and dealing in the ‘gray’ arms market? And even - God forefend! - avoiding taxes!? No, no, these are sick fancies of the creators of “Rough Diamonds”, the blessed Belgian land just could not bear such cynical adventurers acting under the guise of honorable diamond dealers. At least today, in our time of law-abiding businessmen. Or these are not sick fancies…
Well, while we appraise the social and aesthetic value of a work of art that is determined, as you know, by a typical nature of a theme and a plot, as well as its relevance, I would venture to present our readers with a puzzle of quotes related to the latest events in the rough diamond market, and it’s up to you to put them together in the right combination.
Malay Mail 01.07.2023: “In March, Botswana announced it would take a 24 per cent stake in Belgian gem processing firm HB Antwerp in a move seen as designed to loosen De Beers' grip on the country's gems. Botswana’s state-owned diamond trading company, Okavango Diamond Company (ODC), would also enter into a five-year agreement to supply rough diamonds to HB Antwerp as part of the deal.”
Mining.com 12.04.2023: “Rafael Papismedov, co-founder of HB Antwerp, told the Financial Times that a revised deal would help Botswana break free from the current model of being “stuck in a box that says you can only dig and wash the diamonds.” Papismedov added that De Beers’ operating model carries on “colonization” principles, acting as if Botswana was incapable of building midstream capabilities for polishing diamonds.”.
GOV.UK, Companies House: “GLOBAL LOTTERY MANAGEMENT LIMITED, company directors: Papismedov Rafael, date of birth 09.03.1975, nationality Israeli, 12, Van Eycklei, Antwerp, 2018, Belgium. Dotan Natan, date of birth 08.01.1967, nationality Israeli, 17, Hameiri Street, Ramat Gan, 52651, Israel.”
The Open Database of The Corporate World: “LAFNEA LIMITED, Company Number HE184548, Cyprus, Thermopylon, 1, 6023, Larnaca”.
Сripo.com.ua wrote based on the documents of the “Temporary Commission of the Verkhovna Rada (parliament) of Ukraine on Clarifying the Circumstances and Investigating the Facts of Deliveries of Ukrainian Military Equipment to Georgia in Violation of the Ukraine’s Legislation and the International Laws”: “... the representatives of the Cyprus-based company Lafnea Limited (registered: Cyprus, Thermopylon, 1, 6023, Larnaca), Israeli citizens Alexander Volfovich, Natan Dotan and Rafael Papismedov negotiated with unknown Ukrainian partners about the purchase of the Su-25 and Su-25UB attack fighters in the interests of the Georgian Ministry of Defense; as well as the purchase of a package of the AK-47 and AK-74 assault rifles, including cartridges for them; the Pechora surface-to-air missile system; the Igla-1 and the Strela-2M MANPADS; the RPG-7V anti-tank grenade launchers, including PG-7 grenades for them.”
HB Antwerp: “In the last several years, Rafael engaged in strategic consulting for different heads of states and local human rights NGO’s. With a clear spirit for entrepreneurship, Rafael will bring out of the box insight to the industry…”
That’s it! “Out of the box insight” is exactly what the natural diamond market needs today! Especially if “out of the box” ideas are promoted by the experts in the lottery business and ‘gray’ arms trade. Back in the day, Arkady Gaydamak was pretty good at this business, however, the outcome was somewhat disappointing.
So, the co-creators of the “Rough Diamonds” series did not sin against the truth. The “portrait” of the natural diamond market successfully portrays “out of the box insight”, sugary sanctimonious smile and idle talk about ethical values masking the desire to achieve profits by any means. I hope we will see more than one season of this important series.
Sergey Goryainov for Rough&Polished
