Joint Press Release By The Diamond Dealers Club & Diamond Manufacturers And Importers Association

(MENAFN- PR Newswire)

NEW YORK, Jan. 22, 2025 /PRNewswire/ -- As we enter the third week of the new year, the natural diamond market continues to demonstrate encouraging signs of stability, strength and growth. Most jewelers reported a solid year-end performance, with sales levels holding steady or improving compared to last year. This positive momentum reinforces the resilience of natural diamonds as symbols of cherished memories, luxury, heritage, and timeless beauty.

The undersigned trade organizations, representing thousands of professionals across the diamond industry, reject misleading narratives suggesting that natural diamond prices are broadly weakening. While isolated pricing anomalies may exist in the market, they are not indicative of overall trends. The stability and strength observed across much of the industry these last few months reflect the enduring value of natural diamonds and the growing confidence of consumers in these timeless treasures.

One notable factor that we feel may be contributing to the strengthening of natural diamond prices is the continued decline in lab-grown diamond (LGD) prices. Recent data posted by industry analyst Edhan Golan on his LinkedIn page shows that synthetic diamonds, commonly referred to by their industry as lab-grown diamonds, are now trading at wholesale prices averaging a bit over $100 per carat. We believe this dramatic decrease severely diminishes their perception as high-value luxury items. As lab-grown diamonds reach these low price points, they will lose their appeal for meaningful gifting occasions-moments where consumers seek to convey genuine commitment, love, and a sense of permanence.

In contrast, natural diamonds continue to stand apart as symbols of rarity and timeless beauty. Their inherent value and emotional significance resonate deeply with consumers, particularly when commemorating life's most cherished moments.

We also encourage industry stakeholders to discuss pricing for these precious commodities in pure dollar terms, rather than referencing discounts to various price lists. This approach better reflects the unique value and rarity of each diamond, emphasizing their status as luxury items of exceptional worth.

We urge all stakeholders-dealers, manufacturers, retailers, and consumers alike-to recognize and embrace the positive trajectory of the market. Natural diamonds are not mere commodities; they are rare and cherished symbols of love, legacy, and craftsmanship.

This is an important moment for the diamond industry to:

• Promote confidence in the value and integrity of natural diamonds,
  
• Highlight their unmatched rarity and beauty , and
  
• Celebrate their role as a cornerstone of the luxury jewelry and watch market.

By working together, we can ensure that natural diamonds continue to shine as symbols of resilience, elegance, and enduring value, preserving their rightful place as the ultimate expression of luxury and sophistication.

About the Issuing Organizations
The Diamond Dealers Club (DDC) and the Diamond Manufacturers and Importers Association (DMIA) are leading organizations domiciled in New York, the heart of the U.S. diamond industry. Together, they represent thousands of professionals across the global diamond and jewelry industries. These organizations are dedicated to promoting the integrity, value, and craftsmanship of natural diamonds, supporting ethical practices, and fostering growth and innovation within the industry.
Diamond Dealers Club (DDC)- Elliot Krischer, President ([email protected] )
Diamond Manufacturers and Importers Association (DMIA)- Stuart Samuels, President ([email protected] )

SOURCE Diamond Dealers Club

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