The Diamond Club West Coast Closes Out 2025 and Looks Ahead to Continued Growth
More than 600 guests gathered to celebrate industry excellence, honor standout members, and mark an exciting new chapter for DCWC
And we took the opportunity to reach out to Kalpesh Jhaveri, to hear his thoughts on the current diamond market
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Los Angeles, CA – (January 5, 2025) – The Diamond Club West Coast (DCWC), an affiliate of the World Federation of Diamond Bourses (WFDB), closed out the year with its annual Holiday Party, welcoming more than 600 members, industry leaders, and guests for what has become the largest year-end jewelry industry celebration on the West Coast.
“The DCWC Holiday Party is about more than celebration, it’s about community,” said Jhaveri. “Seeing more than 600 people from across our industry come together under one roof reminds us how strong and connected our community truly is. This evening reflects the momentum we’ve built and the exciting future ahead.”
Interview: Market Realities from the West Coast
A conversation with Kalpesh Jhaveri, President of the West Coast Diamond Club
We had an opportunity to speak with Kalpesh Jhaveri about the current diamond market. We spoke about the influence of synthetic diamonds, of what is popular in natural diamonds, and whether tariffs have affected pricing. We also spoke a bit about the DCWC and its current wave of popularity.
What’s selling — and what isn’t?
According to Jhaveri, 2025 has been a strong year for lab-grown diamonds.
“One- and two-carat goods, especially one-carat stones, have been softer on the natural side,” he explains. “Those buyers, because of dollar value, have shifted into larger lab-grown stones. Lab has suddenly become very, very affordable.”
By contrast, natural diamonds over three carats have held up better. “As far as natural goods are concerned, larger stones — over three carats — have done pretty well.”
Quality expectations: lab vs. natural
In lab-grown diamonds, Jhaveri notes that buyers are almost exclusively focused on high color and clarity.
“Everything is pretty much collection quality,” he says. “You’re seeing G color and better, VS and better. Nobody’s really asking for SI goods in lab-grown.”
Natural diamonds initially followed a similar trajectory, with buyers gravitating toward higher quality. But Jhaveri says that trend may now be shifting.
“As differentiation between natural and lab has started to happen, you’re beginning to see interest in stones with slightly tinted colors or slightly lower clarities — especially though in color,” he says. “That differentiation isn’t a bad thing. It actually helps separate natural from lab.”
“Those JKLM colors, or stones with inclusions — those are signatures of the earth,” he says. “They geologically differentiate one stone from the next, versus everything being perfectly flawless or DEF color, which is what’s happening in lab-grown.”
Shapes and cutting trends
Rounds still dominate, but Jhaveri says fancy shapes continue to perform strongly across both categories.
“Elongated shapes have done very well,” he says. “Ovals, marquises, pear shapes, long Radiants, long cushions, elongated emerald cuts — all of that has sold well in both natural and lab.”
While celebrity influence plays a role, he notes the trend was already underway. “Taylor Swift didn’t start it — she just accentuated it.”
Tariffs, availability, and localized pricing
Jhaveri sees tariffs as a major factor reshaping how diamonds are priced and sourced in the U.S. market.
“Looking at a single global price list doesn’t make sense anymore,” he says. “A stone that looks cheaper overseas may not be cheaper once you factor in tariffs and time.”
As a result, availability within the U.S. has taken on greater importance. “If a particular three-carat K-color VS stone isn’t sitting in America, buyers will pay more for a three-carater that is,” he explains. “So what is the ‘real’ price anymore?”
This dynamic, he says, applies not only to diamonds but to colored stones as well.
Engagement rings and the future of lab-grown diamonds
Jhaveri is candid about where he believes lab-grown diamonds fit — and where they don’t.
“I personally feel that lab-grown diamonds will make an exit from the engagement ring market,” he says. “Not because of environmental arguments, but because of what an engagement ring represents.”
He frames engagement jewelry as a symbol of commitment and legacy. “Historically, it was about sacrifice — giving something meaningful, something that represented value and permanence,” he says. “A product that costs a few hundred dollars doesn’t carry that same message.”
In his view, lab-grown diamonds are better positioned as fashion or accessory items. “Big necklaces, statement earrings — things people couldn’t afford in natural,” he says. “They’re still diamonds. But proposing with one? I don’t see that lasting.”
Legacy, he argues, matters. “You pass down a Rolex, not an Apple Watch,” says Jhaveri. “Natural diamonds endure. They carry stories.”
At the same time, Jhaveri is careful to stress balance.
“I represent an organization with members on both sides,” he says. “If a client wants a lab-grown diamond, I’m not going to dismiss that. My responsibility is to make sure clients are informed and satisfied.”
A growing club and an evolving role
Under Jhaveri’s leadership, the West Coast Diamond Club has more than doubled its membership and expanded its physical footprint in Los Angeles. The club has also strengthened ties with local law enforcement, supported public safety initiatives in the Jewelry District, and built an active committee structure with strong participation from younger members and women.
“We’re probably the fastest-growing club in the world federation,” he says. “And what sets us apart is engagement — not just trading floors, but constant interaction, communication, and education.”
Honoring Excellence Within the Industry
A highlight of the evening holiday party was the presentation of DCWC’s annual awards, recognizing members whose leadership, dedication, and impact continue to elevate the industry.
Award recipients included:
- Rookie of the Year: Anthony Kantor, M. Kantor and Associates
- Member of the Year: Lisa Wiener, Worldwide Diamond Co.
- Lifetime Achievement Award: Mervyn Hahn, Los Angeles Diamond Factory
“These honorees represent the values DCWC stands for — integrity, commitment, and long-term contribution to the trade,” Jhaveri added. “It is an honor to recognize individuals who strengthen our industry and inspire the next generation.”
Bottom Row (left to right): Doron Auslander, Radhika Malhortra, Hala Alam, Kalpesh Jhaveri, Lisa Weiner, Tanya Parikh, Ruth Raviv
Looking Toward the Future
As DCWC looks ahead to 2026, the organization continues to build momentum. This past fall, DCWC announced the official integration of the Jewelers 24 Karat Club of Southern California into Diamond Club West Coast. The transition honors the 24K Club’s distinguished legacy while expanding access to DCWC’s services, resources, and global connections.
“This integration represents growth with purpose,” said Kimberly Overlin, former President of the 24 Karat Club of Southern California. “By welcoming the 24K Club into DCWC, we are strengthening our collective voice and creating even greater opportunities for collaboration, education, and business for our members.”
Founded in 1946 and officially recognized as a WFDB affiliate in 1980, DCWC is headquartered in downtown Los Angeles’ Jewelry District and is the fastest-growing club within the WFDB. With more than 300 members and growing, DCWC represents diamond and gemstone dealers, jewelry manufacturers, second-hand jewelers, and wholesalers.
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