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brings them back himself. Regardless of the means of
transportation, all stones are insured during travel.
Mr. Frank joined the jewelry industry in 1973, working for
Citizens Jewelry Company and D. Geller & Sons before operating
his own partnership, Diamond Industries, from 1979 to 1985. He
has worked for petitioner for over 5 years.
About 45 percent of petitioner's purchases are made within
the United States. Domestic purchases are often made by
telephone and are delivered by armored division, registered mail,
or commercial carriers, depending upon the size of the order.
The $600,000 Red Diamond Transaction
In 1991 petitioner took an order from a customer for an
extremely rare .70 carat red diamond. Mr. Haviv located and
purchased the diamond for $56,000. After Mr. Haviv transported
the diamond into the United States, petitioner's salesperson,
Beth Leamon, sold it for $600,000. Her bonus that year was
$16,105.
Dangers of the Business
Mr. Haviv has encountered increased dangers by working
overseas. For instance, an individual was killed at the Tel Aviv
diamond exchange, and Mr. Haviv was near an airport bombing in
France. Mr. Haviv carries a gun in countries where it is legal,
including the United States. Even when Mr. Haviv travels in
nearby Atlanta, his work places him at a special risk.
Petitioner asserts that part of Mr. Haviv's compensation is for
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Last modified: May 25, 2011