Last updateWed, 14 Mar 2018 3pm

Millennials reject diamonds? Prepare to start hearing a new story


Almost exactly a year ago, The Economist tweeted a story about the Lesedi La Rona failing to sell at auction with a baiting question: "Why aren’t millennials buying diamonds?" Now, to be clear, the Lesedi La Rona, an 1,109-carat rough stone with a predicted price tag of $70 million, didn’t fail to sell because it couldn’t attract an eager millennial buyer. Diamonds that large and that rare tend to go to international collectors on the level of Laurence Graff or moneyed Middle Eastern princes – not, as that tweet might suggest, lovesick American twenty-something’s.

Read the full story at https://www.forbes.com/sites/rachellebergstein/2017/06/09/millennials-reject-diamonds-prepare-to-start-hearing-a-new-story/#6aef85626620