Living Up to the Diamond Promise

(ehudlaniado.com) - Diamond prices are not living up to their promise. As compared with other luxury items, human appreciation for diamonds has been decreasing over the last few years. Over the years we have promoted diamonds as an enduring symbol of love as well as an indication of wealth. But the times are changing, and so are consumer tastes. If humans have created a reality in which some objects have more value than other objects, then we need to maintain this reality (which is in fact perception), and reinforce it. In my many travels, I meet people with financial means. The older generation has started to lose their faith in diamonds because of their opaqueness. The attitude I've met with among younger generations has been “Diamonds? What for? Why would I wear diamonds as jewelry?” However, everyone's interest is piqued when I suggest to them that diamonds could serve as an asset that can retain its value. This leads me to the conclusion that we can reposition diamonds on the market if we reframe the conversation and educate future consumers about the possibilities that rare natural diamonds hold.