What's the SD on the diamond cutting industry?

[Randy_Seltzer]

I was once told (no cite) that all jewelry-grade diamonds go through either New York or Tel Aviv for cutting. Is this true? If so, why?

I know that the diamond mining industry is essentially held by a monopoly, but is it the same situation for the cutters? Is it a closely held trade, passed down from generation to generation, or is there just not enough demand for the service for any other shops to spring up?

[Dewey_Finn]

@Randy Seltzer

I was once told (no cite) that all jewelry-grade diamonds go through either New York or Tel Aviv for cutting. Is this true?

It’s not true. From the Wikipedia article:

“One hallmark of the trade in gem-quality diamonds is its remarkable concentration: wholesale trade and diamond cutting is limited to a few locations. 92% of diamond pieces cut in 2003 were in Surat, Gujarat, India.[1] Other important centers of diamond cutting and trading are Antwerp, London, New York, Tel Aviv, Amsterdam.”