In this conversation, Avi Krawitz and Didier Backaert, director at Bonas Group, discuss the evolving role of diamond dealers in the rough diamond market, the impact of tender houses, and the significance of financing in the industry. They explore how the landscape has changed over the years, the efficiency of the market, and the relevance of traditional dealers amidst new trading mechanisms. The discussion also touches on production levels and the future of the diamond industry.

Takeaways

• Diamond dealers remain relevant but their roles have changed.
• Tender houses are increasingly important in distribution.
• The diamond market has become more efficient over time.
• Financing has become a key role for modern dealers.
• Production levels in the diamond industry are declining.
• Dealers are reinventing themselves to stay relevant.
• The industry has learned to operate more healthily post-crisis.
• Contract sales and auction mechanisms are both valuable.
• Trading centers like Antwerp and Dubai play crucial roles.
• The future of diamond dealers is uncertain but worth monitoring.

Chapters

00:00 - Introduction to the Diamond Debate

01:30 - The Relevance of Diamond Dealers

05:10 - The Role of Tender Houses

10:17 - Financing in the Diamond Industry

11:54 - Changes in Trading Dynamics

14:35 - Trading Centers and Their Influence

19:02 - Contract Sales vs. Auction Mechanisms

24:31 - Production Levels and Market Efficiency

27:44 - The Evolving Role of Dealers

Gen-Z’s changing values are reshaping the diamond market. This debate examines whether - and why - natural diamonds are losing relevance among younger consumers, what’s pulling them toward alternatives, and if the industry can win them back.

Avi unpacks the issue with Matt Gabel of MJ Gabel, a fine-jewelry advisory firm.

Diamond Debates is supported by Sarine Technologies.

David Kelly is the CEO of the Natural Diamond Council (NDC), the organization responsible for driving consumer interest in natural diamonds.

Nearly four years since the rebranding of the NDC in 2020, the organization is embarking on a new campaign: ‘Real, Rare, Responsible,’ highlighting the values it argues are inherent in natural diamonds.

In his role, David has developed a unique perspective of how the industry operates in different markets and cultures, how to approach category marketing in today's brand-centric environment, and the interaction between lab-grown and natural diamonds.

Learn more about the NDC at www.naturaldiamonds.com and via the handle @onlynaturaldiamonds on Instagram and Tik Tok.