JCK Online
Both the natural and lab-grown diamond sectors are hurting right now, industry members acknowledged at a panel on “The Current State of Diamond Market,” held July 16 during the Initiatives in Art and Culture’s 14th annual Gold + Diamond Conference in New York City.
“Business is quiet for both natural and lab-grown,” said Ronnie Vanderlinden, president of Diamex, which deals in both products. “There’s struggles at the moment. Liquidity is not strong. The U.S. market is the strongest market in the world right now. We hope that by the time September comes around, consumers will wake up and there will be better demand for both natural and lab-grown.”
He noted that Martin Rapaport recently lowered prices on his widely read list. “They came down for a reason,” he said. “Prices were dropping. They’re not dropping in all categories. They’re actually lifting in certain categories, and staying stable in other categories.”
Matthew Schamroth, partner and CEO of M. Schamroth & Sons diamond company, has also seen a “softening” in the market, but noted that certain items are scarce.
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