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The elite club that rules the diamond world is beginning to crack

In the diamond trading world, becoming one of De Beers's elite buyers is viewed as essential to achieving success and making money. Now, it's no longer so easy

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Thomas Biesheuvel | Bloomberg
It's one of the world's most exclusive clubs, known over the years as the Syndicate, the Central Selling Organization and the Diamond Trading Company. 

For more than a century, De Beers has sold most of its rough diamonds to a select number of customers, a list that reads like a who's who of the opaque gem-trading world. Tiffany & Co, Graff Diamonds and Signet Jewelers Ltd all own subsidiaries in this group, guaranteeing a steady supply of gems with the pedigree of being vetted by De Beers.

In the diamond trading world, becoming one of De Beers's elite buyers is

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First Published: Jul 29 2019 | 2:30 PM IST

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