First of all, congratulations to the diamond companies who have been selected for a new contract period by the DTC. I am happy to see that all six of my clients whom I helped with  their financials and profiles were reselected.

However, the DTC's notification to its clients also carried a further message, that all companies will be inspected by a firm of forensic accountants.

As I have written before, this approach is healthy and good for the industry, but it is not without its risks. From the clients whose files I have reviewed and prepared for such a forensic investigation, I detected some genuine errors which could lead a forensic accountant to reach the wrong conclusion. And with the DTC's unpredictable attitude to removing sightholders, 'getting your ducks in a row' should be a priority before the forensic accountants arrive.

The more worrying concern about De Beers and the DTC is the move to assert control on the polished market through the licensing of the ForeverMark to anybody who can comply with the De Beer's Best Practice Principles - BPP. T he symbol which the major players in the rough and polished diamond industry have worked so hard to be associated with, will now go down stream as a quality symbol on polished diamonds sold.

The strategy has its benefits for the De Beer's group. By licensing and tracking the ForeverMark to all and sundry, they will know where all marked diamonds are going and will over a fairly short period of time have an extremely powerful database. If the public can be persuaded to only buy a diamond with the ForeverMark, then De Beers will be able to increase the licensing fees and create more profit.

On the other hand, does the industry need it? More importantly, does the consumer buying diamond jewellery for his loved one want to pay the higher price just to have an extra logo?

The industry does not need an extra trademark which will add to the cost, but not the value, of the diamonds going down the pipeline.

I am doubtful that even if the use of the ForeverMark was free, whether it would create any extra sales. Sales of the Journey Diamond jewellery concept have exceeded $1.5bn, which in itself is a tremendous achievement, but out of that sum, how much is from sales of diamond jewellery that would otherwise not have happened?

Various mining, polishing and jewellery companies coming up with brands, trademarks and concepts which all try to differentiate their purveyors from their competitors, but which only confuse the end consumer. He wants to know that his diamond is natural, looks beautiful and which is not tainted with blood. He does not need a whole portfolio of certificates and assurances, and he certainly does not want to be charged extra for a trademark he does not need! Let's miss this one forever.