1990: Diamond Jewelry Association Estimated New Investments in Diamond Market
On July 26, 1984, the DRB’s own Joseph Schlussel presented a list of predictions in an address before the National Association of Jewelry Appraisers Conference in New York City:
1. More and more mines will open and expand in Africa, especially Botswana and Zaire; Australia; the Soviet Union; and even China.
2. De Beers will close some of its marginal mines.
3. More and more industrial diamonds will be cut for gems as synthetics become the better and more eco- nomical choice for industry.
4. A new diamond investment market in a different form, backed by major financial institutions, will emerge with the backing of De Beers, and perhaps even a futures market.
5. Many large diamond companies will diversify into finished jewelry and gemstones.
6. Color will be used more in natural diamonds and in mixed gemstone rings.
7. More jewelry will be sold by catalogue and cable TV.
8. More schemes to defraud customers who buy jewelry unseen will emerge.
9. Appraisers will need new elaborate equipment to de- tect new synthetics and treatment of gems
10. Appraisers will have to use more human judgement and sentiment in order to compete with telephone ap- praisal.
11. Finally, I predict and wish that the expanded market for diamonds and all jewelry will keep us all very, very busy.
A final note: All of our predictions came true, except for number four—unless you consider the De Beers-backed limited edition stones for the Millennium an “investment item.”
These predictions were re-printed in the Jewelry Appraiser newsletter in 1987.