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
Small Luxury Hotels FAQ
Introduction
This small luxury hotels FAQ answers common questions about boutique stays. It explains definitions, differences with large chains, and which services to expect. In addition, it covers family options, sustainability, and tips on finding the right property.
What defines a small luxury hotel?
- Fewer than 100 rooms.
- Personalized attention and privacy.
- Strong links to local design.
- Locations in unique urban or rural areas.
As a result, travelers often choose them for a more intimate experience. Moreover, their distinctive style sets them apart from standardized hotels.
Why choose a small luxury hotel?
Personal service
Staff remember guest details, therefore creating a sense of familiarity.
Calm spaces
Unlike large hotels, these properties feel quieter, so you can relax more easily.
Local culture
For example, menus highlight regional produce, and interiors reflect local crafts.
In addition, many guests return because the experience feels authentic.
How do small luxury hotels differ from large chains?
Guest experience
Small hotels provide tailored attention, while chains rely on uniform systems.
Property identity
Each boutique hotel has its own theme. On the other hand, large chains repeat formats worldwide.
Dining approach
Menus change seasonally and locally. Therefore, guests enjoy fresh variety instead of standard global menus.
Are small luxury hotels only for leisure stays?
Business features
- Lounges double as meeting rooms.
- Private dining options support work dinners.
Digital needs
- Fast Wi-Fi supports remote work.
- Quiet spaces help concentration.
Because of these advantages, small luxury hotels appeal to both business and leisure travelers.
What services can you expect?
- Concierge services for tours and dining.
- Fine dining menus with seasonal ingredients.
- Spa and wellness treatments.
- Added extras like minibars and welcome gifts.
Moreover, services shift depending on location. For example, a city hotel might offer cultural tours, while a rural retreat offers farm experiences.
Are small luxury hotels family-friendly?
Options for families
- Connecting rooms for parents and children.
- Child-friendly amenities such as menus or games.
Adults-only stays
- Some properties focus on privacy.
- Guests find peaceful, child-free environments.
Therefore, always check booking policies, because each hotel sets its own approach.
Do these hotels support sustainability?
Sourcing and dining
Farm-to-table meals reduce transport impact. In addition, guests enjoy fresher produce.
Environmental focus
Plastic use is restricted, while refillable bottles are encouraged. Smart energy systems reduce wastage.
Local involvement
Hotels support the community by hiring regionally. As a result, growth extends beyond the property.
How do you find the right small luxury hotel?
Define needs
Decide if food, spa, culture, or privacy is your top priority.
Check guest feedback
For example, repeat reviews about service often signal consistency.
Compare value
Packages may include meals, transfers, or early check-in. Therefore, higher prices can still deliver stronger value.
Are small luxury hotels worth the price?
Value of service
Guests pay for attention, comfort, and privacy. Moreover, experiences feel tailored and unique.
Extras add value
Some hotels include exclusive experiences or benefits. Finally, weigh these extras against nightly rates.
As a result, many travelers feel these hotels justify their price when quality matters most.