One carat and smaller diamonds are down in price 10 percent to 25 percent over the past year. Synthetics have taken over the near-gem market and also still hold about 50 percent of the U.S. engagement ring market. Sanctions and tariffs are restructuring the supply chain. De Beers is for sale. How will all this play out in 2026?

Martin Rapaport addressed these critical subjects as a keynote speaker during CIBJO’s Jewellery Industry Voices series at VIZENZAORO on January 18, 2026. He is the Chairman of the Rapaport Group; founder of the Rapaport Price List; creator of RapNet, the largest trading platform in the industry; and founder of Rapaport Auctions, the largest recycler of diamonds in the world.

Mr. Rapaport was optimistic. He believes the U.S. wealth effect driven by over $100 trillion of inheritances over the next 20 years will fuel the greatest market for luxury diamonds the world has ever seen. There will be excess demand for the best quality, rarest diamonds. 20 percent of diamonds will account for more than 80 percent of sales value. The future will belong to those that know how to create, market and sell luxury diamonds that make the world a better place.

He was introduced to the audience by Gaetano Cavalieri, President of CIBJO, and Marco Carniello, Chief Business Officer of the Italian Exhibition Group, the owner and organizer of VICENZAORO.