Precious Objects: A Story of Diamonds, Family, and a Way of Life

The diamond trade has long been as shrouded in mystery as the precious gem itself. Oltuski, daughter of a diamond dealer, brings clarity in this study of the industry, with a special emphasis on New York's diamond district, the small neighborhood that handles 90% of the diamonds entering the U.S., its ties to the Hasidim and their unique bargaining vocabulary. Hers is a workmanlike account of the various aspects of the trade%E2%80%94its South African origins, the intricacies of mining and grading, and the growing online commerce in stones%E2%80%94sparked by her own desire to better understand her father's business. Oltuski diligently covers the darker side of diamonds%E2%80%94how the brutal conflicts in Sierra Leone, Ivory Coast, Democratic Republic of Congo, the Republic of Congo, and Angola were financed by and fought over the gemstone%E2%80%94leavening it with precisely observed accounts of the delicate, almost balletic haggling among the New York dealers. Oltuski makes a commendable effort at literary journalism, with revealing observations on the centuries-old link between Jews and the diamond industry, and sparkling accounts of her familial ties to the business. (July)