Martin Rapaport Goes In-Depth on Diamond Prices

The video of Martin Rapaport’s latest webinar, which focused on natural-diamond prices, is now available. During the session — which broadcast live exclusively to Rapaport members on September 18 — the Rapaport Group CEO offered valuable insights on the future of synthetic diamonds and the shifting dynamics in major markets like the US, India, China and Dubai, as well as the implications of political issues.

Rapaport provided real data on the huge drop in natural-diamond sales, particularly in the US. “We’re down 55% in 2023 in US polished imports over a half-carat,” he stated. This dramatic drop, he said, is in large part driven by the increasing market share of synthetics: “Synthetic diamonds are moving into the engagement-ring market, taking a lot of the sales away from natural diamonds.”

On a broader scale, Rapaport addressed global market changes. He was candid about China’s diamond market decline, stating that “China didn’t slow down. China died.”

This market shift is also leading to an influx of resold diamonds, he explained. “Chinese consumers…are now reselling those diamonds…and they’re ending up in Surat.”

Looking ahead, Rapaport expressed optimism for the trade, especially those focusing on high-quality natural diamonds.

“The world is about to experience the greatest transfer of wealth in history,” he said. “From 2021 to 2041, we will witness the transfer of $84 trillion…. There’s going to be a lot of rich people looking to spend money on something meaningful.”

To catch more of Rapaport’s insights into diamond prices, watch the full webinar video.

Note: The video is restricted to Rapaport members, including Price List and RapNet members.