"Perfect Storm" in the Diamond Retail Industry

(The Diamond Loupe) - Mel Moss, industry activist and President of Regal Imports Ltd., discusses the "perfect storm" of miners cluttering the pipeline with unprofitable downstream endeavors, consumers losing interest and negligible profits for all: "Diamond miners are trying to make a profit, but under current conditions, their profit does not allow any profit for their customers. Diamond cutters are faced with a consumer that is not interested in paying more for diamonds, if they are interested in buying diamonds at all. [Retailers] often compete with their own suppliers for diamond sales and Internet discounting is pushing retailers to accept lower margins. It is a vicious circle with retailers not wishing to make tiny margins on increasingly complicated diamond sales. So retailers either stop selling diamonds in favor of more profitable products or demand lower prices from their suppliers, and around and around we go with no one in the pipeline being able to make money by selling diamonds." [Watch the video]