This article, by Martin Rapaport, will discuss how unfair rough diamond prices have affected our industry and offer solutions on how to make it right.
The diamond industry is changing as the rough diamond distribution system self-destructs amid collapsing rough prices. Unprofitable, unsustainable and unfair rough prices have been the bane of our industry. For too many years artificially high rough prices have stolen profits from our trade. The hard-working cutters, polished dealers, jewelry manufacturers, designers and retailers who have honestly added value to diamonds have not received their fair share of diamond profits. How can we fix the situation?
- Really understanding the situation
- Accountability
- Solutions
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