Martin Rapaport's comments on the event was insightful. Market power is shifting from supply to demand. In the next 90 years, diamond mining companies will not have market power. They probably won't event exist, as diamond mining will be very limited. When rough diamond supplies are reduced, and eventually eliminated from the open market, recycled diamonds, gems and jewelry will emerge as the primary source of supply, with elderly consumers selling and young ones buying. That will result in a more profitable diamond and jewelry trade as unconstrained free-market supply becomes available from motivated sellers.
I hope we will live long enough to see those days coming and events happening.
Useful links:
http://diamantkring.be
https://www.diamonds.net/News/NewsItem.aspx?ArticleID=64416&ArticleTitle=Rapaport%2bSees%2bOpportunity%2bfor%2bDealers%2bAmid%2bTurmoil
