Wholesale diamonds have an economic impact on societies.  From the day of discovery to the point where they are purchased by a individual, investor group or collector, someone discovers a benefit from their presence.  The countries where diamonds are located receive compensation through tariffs, other taxes, and even the salaries that miners receive. 

These revenue sources cause a trickle down effect that enriches the local and world economies and inspire growth and improvements to mining technologies.  More than 10 million people in the world benefit in some way by the diamond trade.  Many mining methods are used to recover wholesale diamonds. 

The World Diamond Council monitors the environmental impact of diamond mining throughout the world and there are certain guidelines that must be followed when a diamond mining operation is planned.  All wholesale diamonds must go through the Kimberly Process Certification System to ensure that they are registered.  This process eliminates the possibility that counterfeit diamonds or conflict diamonds are not introduced into the diamond industry under false pretenses.

This measure was necessary because some wholesale diamonds can also be manufactured using clinical methods in laboratories.  Diamonds, which are produced in this manner, are beautiful gems but are not considered as pure, quality diamonds.  During the clinical manufacturing process, additives can be introduced that will affect the color of a diamonds.  While these diamonds are considered authentic diamonds, the color changes that occur will affect how they will be valued for sale.

An influx of sub-grade wholesale diamonds would have a dramatic affect on the diamond industry.  As a quality control measure, the Diamond Council voted to make some changes and The Kimberly Process Certification System was established.  This certification system ensures that only diamonds with natural coloring are sold as such and that correct labeling of all other type of diamonds occurs.  A numerical accounting of all wholesale diamonds takes place to some degree.  Better quality diamonds are numerically numbered using a laser, which makes tracking ownership easy.

Rough diamonds are mined and must all undergo a rigid inspection process before they can be sold in wholesale lot to others.  Every diamond stone will be considered on its own merit for the shape, carats, color and clarity.  The cut of wholesale diamonds will affect pricing.  In order of quality, the diamonds cuts are Signature Ideal, Ideal, Excellent, Very Good, Good, and Fair.