Martin Rapaport at Dubai Diamond Conference: Stop panicking, start positioning.
His play: Lean into the Veblen effect. Rarity = premium = desire. Focus on top-tier natural diamonds for high-net-worth buyers. Let aspiration trickle down from there.
Two alpha opportunities he's calling:
1. Generational wealth transfer in the US. Boomers passing down both cash and jewelry to Gen X/Millennials.
2. Pre-owned diamond market heating up as pieces re-enter circulation.
The connection? Next-gen inherits wealth AND jewelry. Industry needs to give them reasons to buy natural diamonds AND trusted platforms to trade pre-owned pieces.
This is what Diamonds 2.0 is about: adapting to what's changed, not crying about it.
Natural diamonds aren't dead. The old playbook is.
His play: Lean into the Veblen effect. Rarity = premium = desire. Focus on top-tier natural diamonds for high-net-worth buyers. Let aspiration trickle down from there.
Two alpha opportunities he's calling:
1. Generational wealth transfer in the US. Boomers passing down both cash and jewelry to Gen X/Millennials.
2. Pre-owned diamond market heating up as pieces re-enter circulation.
The connection? Next-gen inherits wealth AND jewelry. Industry needs to give them reasons to buy natural diamonds AND trusted platforms to trade pre-owned pieces.
This is what Diamonds 2.0 is about: adapting to what's changed, not crying about it.
Natural diamonds aren't dead. The old playbook is.