Results for “David Prager”

We estimate that between 2010 and 2015, there will be 150million new Chinese entering the middle-class. That's a middle-class which increasingly buys diamonds as a gift of love and as a memento of stature.

As I said earlier, the only source of value in our business is the consumer's desire for the product. That desire is built on emotions ascribed to diamonds, and if they believe the way that diamond has been brought to their finger does anything other than live up to the values they ascribe to it, we would have a major problem.

All the market research we have done shows that consumers use diamonds to mark special moments in their lives because they are timeless, have been in the ground 3 billion years and are unique. For all of those reasons, when you ask a consumer, particularly a woman, if they would be happy to have a synthetic diamond engagement ring? the answer is no…

The truth is nobody needs a diamond. You don't need a diamond to heat your home, run your car or power your cell-phone. As a business, it's clear to us that there is only one source of value for diamonds- and that is the consumer's desire for the product. 99% of diamond demand is from the jewellery industry, less than 1% goes to industrial uses.

More than just being a luxury item, they are pieces that represent milestone moments- that's why they're important. People also reflect on whether diamonds are a hard asset class. They are the hardest of all assets, being the hardest asset known to man!

All the market research we have done shows that consumers use diamonds to mark special moments in their lives because they are timeless, have been in the ground 3 billion years and are unique.

The only source of value in our business is the consumer's desire for the product. That desire is built on emotions ascribed to diamonds.

More than just being a luxury item, they are pieces that represent milestone moments- that's why they're important.

Diamonds are rare, there haven't been any major finds for over 20years, and there are no major mines on the horizon. Demand- particularly in China and India- is growing rapidly, and in the very near future we will see demand outpace plateauing supply.

The truth is nobody needs a diamond. You don't need a diamond to heat your home, run your car or power your cell-phone. As a business, it's clear to us that there is only one source of value for diamonds- and that is the consumer's desire for the product.