Sounds like they aren't worth billions of dollars anymore.
*Worth to your lady, not to you Economically, the diamond is a token of wastefulness that serves only to destroy value as part of the human mating ritual. Bitcoin for women, but even less liquid.
>Smaller diamond producers have reduced their own prices. De Beers, a unit of mining group Anglo American, and its Russian competitor Alrosa have reportedly rejected price cuts and would rather allow buyers to pull out of previous contracts.
$5 they'll hold firm on their prices and just take tax credits in countries for "business losses".
De Beers created the demand artificially for engagement rings so they are pretty much done,I guess.
[0] https://en.wikipedia.org/wiki/Signalling_theory [1] https://en.wikipedia.org/wiki/Signalling_(economics)
These are fun semantics... if you can't liquidate your inventory for a substantial fraction of its "price" then I'd say that it simply doesn't have the value you've priced it at.
If there are only ten suckers in the world willing to buy a widget for a billion dollars, and you have a thousand of those widgets, then you're sitting on roughly ten billion dollars -- not a trillion.