by John Pollard » Jun 3, 2019 Full video here (click "Watch on Facebook") https://www.facebook.com/video.php?v=663256897421671 Main topics: Synthetics, ethics, the supply chain, recycled diamonds. * Presentation starts at 17:30 * Visitors to Sierra Leone & Surat discuss "people behind the diamonds" = 23:15 * Current product crisis, marketing, generational speculation = 54:00 * Video mashup: Super diamonds (tech applications)/disruption (jewelry applications) = 1:00:30 * Synthetic benefits = 1:06:00 * Synthetic harm = 1:12:00 * RapNet Vote Results = 1:22:00 * Rapaport position slide = 1:24:19 * What are we selling: Sparkle or value? CZ vs Synthetics vs Natural = 1:25:00 * Rapaport call to petition the FTC = 1:28:00 * Need to create an ethical natural diamond market = 1:35:45 * Recycled diamonds and Jewelry: Creating a new market = 1:43:30 * Conclusion 1:48:30 SUMMARY (ymmv) Rapaport Group’s position: While acknowledging the consumer is best served with a range of products, the Rapaport Group refuses to list or track pricing for synthetic diamonds. Rationale: Consumers are regularly told synthetic diamonds are "identical" to mined diamonds. Rapaport states this is patently untrue, as there will be a limitless supply of synthetic diamonds, causing them to cheapen over time, but there is a limited supply of earth-mined diamonds. Rapaport considers the current situation tantamount to fraud. Action: Rapaport is calling for the trade to petition the FTC to revisit synthetic diamond definitions and position to address the above. * Personal notes: In my opinion this State of the Diamond Industry session was Martin Rapaport’s most coherent and focused delivery of the last three years. No shouting accusations about “parasitic leeches.” No tarring and feathering of DeBeers’ for their lightbox initiative. He was composed, coherent, confident and committed (hey…that’s 4Cs). My opinion: When sold with complete disclosure the synthetic decision clearly becomes the consumer's choice. With that said, Rapaport is presently convinced that many sellers are not disclosing the full story; they are pitching synthetics as “identical” to natural as a main selling point, and not informing buyers that sharp devaluation is inevitable. Non-sequitur: For any who haven't seen the "Super Diamonds" video (1:00:30) it's really informative and well done.