A Bit of Background…

In April 2008 at the AGS Conclave in Seattle, I had the privilege of listening to Malcolm Gladwell – best-selling author of The Tipping Point, Blink, Outliers and What the Dog Saw. During a breakout session he suggested that a change in narrative is essential if the diamond industry is to stay relevant to future generations.

As an outsider, he observed that young people are notably absent in traditional jewelry stores.  To be sure they are still getting engaged, but other contexts of diamonds that were so appealing to their parents and grandparents simply do not ring as resonantly in today’s world.  Namely – status and conspicuous consumption.

As an example, Malcolm noted that today’s youth are hyper-aware and concerned with the inter-connectedness of people and nature. Their values still allow them to (over)pay as much as $4 for a cup of coffee, but only if it is fair-trade and shade grown.

The knee-jerk reaction from the crowd was, “Oh I get it, you mean we should disclose that we offer only conflict-free diamonds”.  Well, not quite.  That is actually selling against a negative.  Malcolm’s message was about constructing a new and positive and compelling narrative. 

I've been mulling over his remarks ever since.  I’m guessing that part of any new story will directly relate to the very nature of diamonds and another part will spontaneously emerge from our customer base.

The Beauty part…

Our industry has become fixated on selling the story of Diamond Beauty. 

Even though some enlightened jewelers know enough to Romance the Occasion or the Emotion and not just the Stone, I have yet to enter a jewelry store where the 4C’s (not to mention the Budget) don’t figure prominently in the sales pitch. 

In particular, the story is now almost entirely centered on Cut. Whether the discussion is about Tolkowsky’s proportion sets or AGS performance-based standards, we all seem to agree that in order for a diamond to be beautiful (and therefore appealing) it must be impeccably cut and polished.

IMHO, the obsession with Cut has become a fetish – especially for the Engineer-types.  But that is another story.

Enter the Beast…

Two recent sales have jarred me into a newer reality. 

The first came when a design jeweler called to ask me for a Funky-looking, Organic, Crystalline, 5 mm. diameter Diamond that could Retail for $100… in other words Congo aka Boart aka Industrial or Near Gem Diamond. Ugh! Yuk! Cripes!

Well, I found one – at Quintuple Key for me I might add!  It weighed just over a carat, not that anybody cared.  It was very dark and highly included, which only made it look Natural and Real.  I merely rough cut the bottom flat enough for easy mounting in an engagement set.  And, guess what?  The customers Loved it!!!

The second was in my wife’s jewelry store. She carries a line of rings that are cast in 22K and set with Rose Cut Diamonds.  The material is what many of us in the Trade might formerly have called Drek. Never mind all that!  The look is very Unique, if not downright Medieval.  Her bridal customer fell in Love with one and bought it – with no discussion whatsoever of the 4Cs! 

BTW, the size was 2.5 carats, color let’s just say cloudy orangey brownie yellowish milky grey, and clarity slightly Perfect. Retail price $1945 at Key-and-a-Half.

Something is happening…