What will happen
to the diamond industry?

One carat and smaller diamonds are down 10% to 25% over the past year.
Synthetics have taken over the near-gem market and also still hold about 50% of the US engagement ring market. Sanctions and tariffs are restructuring the supply chain. De Beers is for sale. How will all this play out in 2026?

Martin Rapaport is optimistic. He believes the US wealth effect driven by over $100 Trillion of inheritances over the next 20 years will fuel the greatest market for luxury diamonds the world has ever seen. There will be excess demand for the best quality, rarest diamonds. 20% of diamonds will account for over 80% of sales value. The future will belong to those that know how to create, market and sell luxury diamonds that make the world a better place.