News

Advanced Search

Video: Can ‘Good’ Diamonds Sell at a Premium?

Jun 10, 2019 10:56 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Diamonds with proven ethical sourcing should sell for a higher price than others, participants in Rapaport’s annual town hall meeting in Las Vegas concluded.

“The biggest challenge for sourcing ethical diamonds is whether consumers are willing to pay extra for them,” stressed one of the participants in the discussion that took place during last week’s JCK show. “I believe there is huge demand and they will,” he added, to the agreement of many others in the room.

“I think people want better products. Why does color and clarity tell the story?” asked Martin Rapaport, Chairman of the Rapaport Group, who facilitated the meeting that can be viewed in the video above. Why shouldn’t there be a fifth C, representing the good that diamonds do that enhances value, he added.

The discussion outlined what is required to create a differentiated category of ethically sourced diamonds and jewelry. While it’s up to each individual and organization to do what they can in their communities, the industry must work to connect the dots and tell positive stories about the diamond journey, the participants agreed.

“For us to move forward as an industry, we have to be authentic,” stressed one gem trader, who sources colored gemstones in Sri Lanka. “My [millennial] generation sees through that. We need to truly believe in this cause. It costs more money but if we don’t spend the money we’re not going to survive as an industry.”
Tags: Rapaport News
Similar Articles
Fabiana Di LorenzoEthics Service for Small-Scale Jewelers Launches
Jul 03, 2019
UK-based consultancy Levin Sources has launched a responsible-sourcing service for small to medium-sized (SME) jewelers. Developed
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.