The diamond industry is confronting significant changes and Martin Rapaport laid out a clear path forward in the Rapaport Webinar: 2025 – The Way Forward on January 29, 2025. Addressing the challenges of falling prices, shifting consumer demand, and the rise of synthetic diamonds, Rapaport emphasized the urgent need for the trade to reposition itself.
Claiming that the best way to make money in the diamond business is going to be luxury diamonds, Rapaport argued for selling “fewer, better diamonds to fewer, better customers.”
With natural diamond prices under pressure and competition from lab-grown alternatives increasing, he stressed that success will come from focusing on high-end consumers who value rarity, authenticity, and enduring value.
Rapaport warned against the industry’s fixation on price competition, urging jewelers and suppliers to embrace the luxury market rather than trying to compete in the commoditized synthetic space. He emphasized the need for a shift in mindset toward premium branding and exclusivity, encouraging the trade to position natural diamonds as a high-value luxury product rather than a price-driven commodity.
Another major takeaway was the impact of the Great Wealth Transfer. With an estimated $124 trillion set to shift from baby boomers to younger generations over the next 25 years, Rapaport highlighted the significant buying power this will bring. “We are going to see the best market in the world for luxury products in the United States,” he stated.
“Go luxury or go home,” Rapaport urged, stressing that the key to success is differentiation, branding, and confidence in the value of natural diamonds.
Note: The video is restricted to Rapaport members, including Price List and RapNet members. If you are not yet a member, you can join us here for just $250 a year. Membership includes Special Reports, Analysis, Rapaport Price List, Diamond Price Calculator, Trade Screen, and more. Alternatively, you can pay to access only the current webinar here for $50.
