In an account with CNBC Accomplish It, he singles out the bells arena retailers who, in his opinion, abet consumers to squander their bucks unreasonably.
“I apperceive it sounds adventurous to absorb a lot of money — it’s crazy to do that,” he says. Instead, he suggests, couples should advance that money in added advantageous things, such as the banal market.
And because he has a acceptability as aciculate agent — he wouldn’t arise on Shark Tank otherwise, and his banking successes are actual — he sounds like a man one should accept to.
So aback he declares that “diamond rings are absolutely expensive, and they don’t aftermath any assets or any interest,” what is a customer declared to think? And how do we in the industry acknowledge to our detractors?
Interestingly, aback O’Leary proposed to his wife-to-be, he gave her a tiny design afterwards a setting, one he got at a ample abatement from a wholesaler. But then, for their 25th anniversary, he offered her a 5.50-carat design ring. So absolutely O’Leary is not blind of the ability of chunk to accurate abiding love. And there’s no abstinent that a sparkler will win a woman added “wows” from her girlfriends than would a banal portfolio.
But let’s go aback to the “really expensive” argument. We all apperceive not every man about to adduce spends $2 actor on an assurance arena the way Chris Zylka afresh did for Paris Hilton. Of course, that pear-shaped, 20-carat arena by Greene & Co. International (pictured above) is superb and shines a spotlight on chunk as the brilliant gemstone for conjugal jewelry.
Even in the non-celebrity, non-hotel-heiress world, though, it shouldn’t be hasty that best men will absorb added money on the woman they adulation than on a new iPhone. The role of jewelers is to advice them accomplish the appropriate choices — including for their budgets. Designers accept appear up with so abounding aesthetic agency to actualize the apparition of a big bean for those couples who don’t accept the agency to absorb two months’ bacon but still appetite a arena that makes a statement.
Far from advocating a challenging, debt-ridden future, we accept a arena is one amount for which application a acclaim agenda or alike borrowing some money seems justified. If I had a son about to pop the question, I’d acquaint him to absorb added on the bling and beneath on the flowers, gold-laminated invitations and added disposable gimmicks avant-garde weddings include.
Long afterwards the installments accept been paid off, the smile on a woman’s face aback she remembers the angle — the abruptness of advertent the ring, or the collective acquirement — will remain. As will, of course, the design itself.
There are a lot of allegedly astute bodies who feel they can advance our industry and attenuate our livelihood. Because chunk are advised a affluence — as they should be — they are additionally advised expendable.
In the end, the consumers are the ones who will decide. Their akin of assurance with design adornment depends on how we present ourselves as an industry and how aspirational and ethical we abide to accomplish diamonds. Whether the applicant is Mrs. O’Leary, Miss Hilton or any added woman who loves diamonds, our role is to accomplish abiding every being purchasing a design arena sees it as an affecting and financially alive advance — one that agency so abundant added than its amount tag.
Picture: Courtesy Greene & Co.
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