Introduction: Why Rough-Diamond Sales Changed Forever
In the latest Rapaport Diamond Podcast, Adam Schulman, founder and CEO of Koin International, explained how tenders and auctions reshaped rough-diamond sales. Before tenders became common, miners relied on informal, over-the-table deals. As a result, prices often stayed flat and buyers controlled the market.
During the conversation with Joshua Freedman, Schulman shared how competition improved transparency and why miners now prefer tenders. Because of these changes, auctions and tenders dominate the global trade today.
From Private Bags to Transparent Tenders
For decades, dealers bought rough diamonds in closed rooms, carrying bags of stones and making quick offers. While this approach worked for some, it lacked transparency. Therefore, Schulman saw a gap in the system.
- 2005: He co-founded Fusion Alternatives with I. Hennig. Since it was the first independent tender platform, it allowed small and mid-sized miners to reach more buyers.
- 2015: He launched Koin International to expand the model. After its success, tenders became the preferred sales method.
- Today, over 70% of rough diamonds are sold via tenders or auctions.
At the same time, De Beers and Alrosa continued their sight system. Yet miners shifted toward tenders because they could secure stronger competition and higher prices.
Learn more: How Diamond Auctions Work.
Q&A with Adam Schulman
Q: Why did tenders change the market?
A: Before tenders, miners often had no choice but to accept fixed offers. After tenders gained traction, they attracted hundreds of buyers and achieved 10–15% higher prices.
Q: Why did Koin relocate from Antwerp to Dubai?
A: “During Covid-19, Antwerp became difficult for global access. Meanwhile, Dubai offered lower tax, better logistics, and faster growth,” Schulman explained.
Q: Are tenders the new standard?
A: “Yes. Over time, tenders proved more transparent and competitive, so miners prefer them.”
The Business Impact of Tenders
Because miners wanted fair pricing, tenders delivered results. For example:
- In early Koin tenders, small miners gained 20% more revenue compared to direct deals.
- Dubai now accounts for 40% of global rough-diamond trade, proving its rise as a key hub.
- Koin hosts more than 20 tenders each year, drawing buyers from India, Belgium, Israel, and the UAE.
See also: Why Dubai Became a Diamond Hub.
Adam Schulman Beyond Diamonds
After years of building Koin, Schulman still finds time for his passion: photography. While leading diamond tenders, he also captures wildlife across deserts and safaris. His work appears on Instagram at @adam_s_photography.
For inspiration, explore Gemstone-Inspired Photography.
Adam Schulman, CEO of Koin International, joined the Rapaport Podcast to explain how tenders and auctions changed rough-diamond sales. From Antwerp to Dubai, the shift introduced transparency, competition, and better prices for miners. Today, auctions dominate because they bring more buyers and fairer results.
Suggested Reading:
Guide to Diamond Market Trends
History of Rough-Diamond Trading
Introduction
Welcome to our Technology AI Emerging Tech FAQ.
Here, you’ll find clear answers to common questions about artificial intelligence, emerging technologies, and their impact on daily life.
This guide helps you understand AI tools, automation, and the latest tech trends quickly and easily.
Whether you are a beginner or an enthusiast, these insights will help you make informed decisions about adopting and using technology.
FAQ Section
What is Artificial Intelligence (AI)? – Technology AI Emerging Tech Explained
Artificial intelligence (AI) is technology that allows machines to perform tasks that normally require human intelligence.
Examples include smart assistants, voice recognition, language translation, and self-driving cars.
AI continues to evolve rapidly, influencing industries such as healthcare, finance, manufacturing, and education.
Understanding AI basics helps you leverage its benefits while avoiding potential risks.
What Are Emerging Technologies? – Technology AI Emerging Tech Insights
Emerging technologies are innovations that are reshaping our world.
Key examples include AI, blockchain, quantum computing, augmented reality (AR), virtual reality (VR), and Internet of Things (IoT) devices.
These technologies impact how we work, learn, communicate, and even entertain ourselves.
Staying aware of emerging tech trends ensures you can adapt to new opportunities and challenges.
How Does AI Impact Daily Life? – Practical AI Applications
AI powers tools like personalized recommendations, automated customer service, smart home devices, and medical diagnostics.
It improves efficiency, reduces errors, and helps individuals and businesses make smarter decisions.
Even simple tasks like filtering emails, scheduling appointments, or optimizing energy use are increasingly managed by AI systems.
Are AI and Automation Safe? – Technology AI Emerging Tech Safety
AI is generally safe when designed ethically and monitored carefully.
Developers must follow guidelines to prevent bias, misuse, or unintended consequences.
Regulations, ethical frameworks, and transparent design practices help ensure AI benefits society responsibly.
Learning how AI systems work improves your confidence and safety when using emerging tech.
How Can I Learn About AI and Emerging Tech? – Beginner’s Guide
You can learn through online courses, tech blogs, webinars, or hands-on projects.
Following tech news, experimenting with AI tools, and joining tech communities keeps you updated.
Many platforms also provide free tutorials, coding exercises, and AI simulations to help you gain practical experience.
Learn more:
. Learn about advanced AI research.