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A 'Necessary Evil' Turns Big Investment
The luxury jewelry business in the U.S. has undergone a dramatic change due to a significant shift in the way consumers view diamonds and other precious stones.
"That consumer realized that really fine-quality diamonds—or precious stones for that matter—do keep their value—actually, even increase in value—in times like this, and this is something that is new to the American consumer because they always saw jewelry as almost a necessary evil to please the wife or the fiancée ... and now they realize that it is not such a stupid idea to have a small percentage of their wealth in precious stones,"
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