Shiny Rocks and Sticky Tariffs: Is the Diamond Industry About to Crack?

Ice Ice Maybe Not So Baby

Folks let me tell you the diamond biz is facing a 'perfect storm,' as that fancy pants CEO from Antwerp Karen Rentmeesters put it. And you know what? Storms mean chaos and chaos is opportunity! But seriously these tariffs Trump slapped on? A ten percent import duty on these shiny rocks? That's like trying to squeeze blood from a... well you get the picture. Half the world's diamond demand is right here in the good ol' US of A so this is a problem a big one. And for what? To make a point? I'm all about making points but usually with a well placed lawsuit not trade wars!

From Botswana to Your Bride: A Rocky Road

These diamonds they don't just pop out of the ground and onto some starlet's finger. Oh no honey. They go on a journey a real 'round the world' trip. Mines in Africa trading hubs in Europe polishing centers... it's a regular diamond diaspora! And every border they cross every hand they touch is a chance for something to go wrong or for Trump to slap another tariff on it! And they say I'm the one with the complicated supply chain? This is worse than trying to get Walter White's blue stuff across state lines believe me.

Raw Deal or Raw Material?

Now this Rentmeesters lady is making a stink saying diamonds should be considered 'raw materials.' And you know what? She's got a point! You don't see people walking around with loose diamonds in their pockets do you? Unless they're my clients of course. But seriously they end up in rings necklaces all that sparkly jazz. So why the tariff? It's like taxing the clay before you make the pot. It's just bad business folks. Bad for everyone. Except maybe me 'cause desperate times call for...you know.

Lab Grown: The Heisenberg of Diamonds?

But here's the real kicker: lab grown diamonds. Chemically identical impossible to tell apart with the naked eye and selling for dirt cheap. It's like Walter White cooking up a batch of crystal meth that's purer than anything nature can produce. And people are buying it! More than half of American couples are rocking lab grown engagement rings! Pandora the jewelry giant even stopped selling mined diamonds altogether. It's a revolution people a diamond revolution! And you know what I always say: 'Better call Saul!' for the best deals on these alternatives to mined diamonds.

Sixty Percent?! You Serious?

The price of mined diamonds has plummeted like a client's alibi falling apart on the stand. Down almost 60% since 2022! Sixty percent! That's like losing your entire retainer fee in a single poker game. But some analysts are saying things might be stabilizing. Maybe people are starting to see the difference between the real thing and the knock off. Maybe they're realizing that a diamond isn't just a rock it's a story a legacy a symbol of... well whatever you want it to be. Just don't expect me to buy into the hype. I'm a lawyer not a jeweler!

De Beers: Doubling Down or Going Down?

And then there's De Beers the big daddy of diamonds. Instead of jumping on the lab grown bandwagon they're doubling down on natural diamonds. They're even closing their lab grown jewelry brand! It's a bold move I'll give them that. But is it smart? Only time will tell. And with Anglo American looking to unload De Beers who knows what's gonna happen? Maybe I should buy it. 'Saul Goodman Diamonds' has a ring to it doesn't it? (No pun intended). Remember what I always say folks: 'If you're committed enough you can make any story work.'