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Today a new generation of devoted diamond wearers is giving a whole
new spin to sparkle. This is a generation that has not grown up with
the prejudice of real jewellery versus costume jewellery –
uninfluenced by the earlier costume boom it gives way to a whole
new, fresh approach to diamonds. There was once a time when the
engagement ring was the first diamond a woman owned. Not anymore.
Now everyone feels entitled to indulge at any age. To cater for this
new approach, Duttson Diamond Brokers & Consultants (Duttson Rocks),
based in Knightsbridge, are offering a less daunting alternative way
than the expensive high street to help you buy your own personalised
diamond.
First, what has been the cause of this transformation in wearing
diamonds? The most notable difference is the change of attitude by
the industry’s regulator, the DTC (De Beers). In the first
independent management review in the Company’s history, they were
advised to abandon their role as the “market custodian” and let the
diamond price take care of itself. The problem was that while the
DTC were hoarding goods and reducing production in its mines, this
was in effect subsidising competitors. As new independent mines
appeared, such as in Canada, and started selling straight on to the
market they were enjoying a free ride on the stable prices supplied
by the DTC through the self limiting measures of the cartel. Acting
on this advice, the DTC is now swinging its strategy away from the
century-old doctrine of absolute control of rough and it’s the
downstream diamond market, for instance the jewellery stores, that
will most feel the change.
Retailers are looking for new ideas to make their diamonds
different. They’re breaking the rules, smashing taboos and giving
diamonds a whole new image and language. The change in mentality
towards diamonds can be seen with new diamond heroes, such as P.
Diddy, J-Lo, Britney and Becks, with talk of diamonds’ “Bling Bling”
value. The music industry has contributed significantly as the young
and funky end give “new” diamonds a momentous boost – whereas a year
or so ago, the young, cool, trendsetters refused to wear diamonds,
now they can’t get enough of them.
However, despite this increase in diamond advertising and awareness,
acquiring them can still remain a potentially nerve wracking
experience.
“People shopping for diamonds typically walk into a retailer where
some 19 year-old tells them what they are looking for is an F
colour, VS2, 1.01 carat round brilliant, which will cost them
$12,000, which is essentially what they’d read off the label.
Customers don’t fully understand what they are getting, or get
talked into buying some new design that’s all the rage but isn’t
what they were really looking for. It can be hard to get the
information you’re seeking, because the diamond industry is a
notoriously closed shop,” says Neil Duttson.
This is where Duttson, Diamond Brokers & Consultants, come in –
sourcing bespoke diamonds directly from Antwerp for private clients.
With such a diverse generic change among consumers’ attitude towards
diamonds, why not change the way that people go about acquiring
them? With retailers changing designs fortnightly to entice the
consumer, why not leave the design up to the woman who’s going to be
wearing it “forever”?
In an effort to cater for the new, more discerning customers who
want more than off-the-shelf diamonds, Duttson can offer a
personalised approach to acquisition in an otherwise previously
untransparent market. Together with Harry Lucas, who left De Beers
after three years to join forces with Duttson, they are able to
provide a unique service whereby they visit their private clients,
teach them about the 4 Cs (colour, cut, clarity and carat), show
them what their options are within their budget and then take an
order for a loose diamond that is sourced directly from Antwerp –
typically within 48 hours. The diamond is then presented on a clamp
ring (to enable them to try it on) in a hand-made, octagonal black
walnut and suede lined box. The design and setting is then left to
be determined by the recipient, with whom one of Duttson’s many
designers, such as Neil Rayment formerly of Cartier, can ensure that
she can have that design she’s always wanted, hand-made and
delivered to her door.
“It would seem that most women have known how they wanted their
diamond to look since about the age of 10.” Duttson adds.
All their diamonds over 50 points (half a carat) will be fully
certified by one of the industry’s governing bodies, either the
Diamond High Council (H.R.D) or Gemological Institute of America (G.I.A.).
With the diamond industry being built on relationships and
connections, Duttson’s minimal overheads, no disproportionate brand
or retail mark-ups and ability to source the stones direct, mean the
diamond is considerably cheaper than one bought through a retail
outlet. It could be anything up to 50% less. A recent satisfied
customer and director of a sports management company, after paying
‘considerably less’ than the typical $11,500 – $17,000 for his
1.43/VS2/H round brilliant which he had set in simple platinum ring,
mentioned a common concern with diamond purchases that Duttson hope
to put an end to.
“Buying a diamond is perhaps the only time when you’ll spend a
significant amount of money when, in my case, you’re clueless about
the subject. Quite frankly, I also didn’t want to shop around stores
dealing with people trying to sell me jewellery I didn’t want. I
left it to someone who knows what he’s doing.”
Like all of nature’s unique creations – people, stars, snowflakes –
no two diamonds are ever the same. They are the dark and the light –
windows polished into the heart of mankind. They have existed in the
universe since before the Sun and the Earth. In our own planet, at
depths of a hundred miles, carbon formed into diamond crystals,
which are both impervious and frail. Many diamonds abandon their
form and vanish into graphite on their journey to the light. Those
that survive the hammerstroke of creation are brought to the surface
to shine, and it’s the diamond trade that unpackages and sells this
light. With Duttson’s direct approach from source straight to
client, together with his ability to pass these savings on to the
customer, he’s hoping more and more people will be able to enjoy the
feeling of wearing one of nature’s wonders.
Wearing your unique and personalised diamond, set in your own
design, has never been more affordable or fun.
Contact:
Neil Duttson
c/o Motiv Focus
39 Wedgwood Road
Bicester
Oxon OX26 4UL
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