[agtech_andy]

There has been a massive (but slow) sell off of natural diamonds. People in the industry have known this time was coming for a while.

It is very much a bag holder problem.

In some countries, people (often families) have saved for a long time to accumulate some inventory of something that is now worth a lot less. The diamond industry varies a bit by country, but in places where individual dealers hold a lot of inventory, there is a lot of incentive to be against synthetics.

I saw this firsthand in Turkey. I gave my a fiancée a ring with a very nice moissanite stone about a year and a half ago. She showed it to some jewelers and most had to really make a show of things like, "Congratulations on your upcoming wedding, but I can only work with real stones. We are not supposed to even look at these."

And I don't blame them for at least having to act this way. A lot of these family stores have hundreds of thousands to millions of dollars worth of natural diamond inventory that they took years to accumulate, and along comes something that is superior in every way for a fraction of the price.

Yes. In some other places around the world, the resistance to lab grown stuff has been violent. But the industry of natural diamonds is much more violent, and it is great to see that the way we mine diamonds will soon be a thing of the past.