With the odd notable exception there are not many to whom I have spoken recently in the industry that have much confidence in the near future, and I would not want to be asked to define what I mean by ‘near future’. Yet for once I am probably not the gloomiest person around. Despite every attempt by the industry to scupper its own prosperity, people are still buying diamonds. In some markets many less are being purchased, but in those markets all luxury products are having a torrid time. Diamond sales are in the context of the general economic climate holding up reasonably well, not brilliantly, but most certainly not disastrously.
- Charles Wyndham takes stock, looks forward to De Beers' next move, and wonders why synthetic diamonds are seen as such a threat