The secret heart of the diamond trade is said to be Antwerp and specifically on Hoveniersstraat, an otherwise unremarkable street of office blocks.
Here in 1,500 diamond offices, eight thousand people, representing 160 nationalities, handle diamonds worth £85 million every day.
About 85% of all the diamonds on the world market are bought and sold here and vaults contain gems worth hundreds of millions more.
The global trade in diamonds is worth £31 billion, and demand is increasing.
Antwerp’s connection with diamonds goes back to the 16th century, but the city won out over Amsterdam in the 19th century by a using lower wages and more flexible regulations.
Here cut and uncut diamonds are scrutinised manually for valuation before being graded into one of as many as 16,000 categories. While technology could define the size and shape, only the human eye can discern the colour and clarity.
The rough diamonds are said to look a bit like broken glass but once they are polished, the lustre, sparkle and brilliance, the life and colour can be seen. Every diamond is said to be different, described by one trader as being like “fingerprints”.
The cost of diamonds is on the up as known reserves are said to be dwindling and wealthy new middle classes in China, India, Latin America and Russia buy them as investments.
The Kimberley process of certification was put in place to ensure that the gems are ethically sourced from certain countries only and to stop the trade in so-called “blood diamonds” in which many people have been killed or maimed. Blood diamonds have also funded savage civil wars, such as the one in Sierra Leone in the 1990s.
Security is tight at Hoveniersstraat. Visitors’ details are checked on criminal databases. Those who do not pass muster can find armed police waiting for them outside.
Nevertheless, astonishing heists have occurred. Recent robberies at Brussels airport and a Cannes jeweller have seen thieves run off with diamonds worth over £100 million.
