Diamonds show no sign of losing their appeal in the luxury goods market. Christies sold a rare red purple diamond for a heart stopping $2,600,000. It's a record for a ring. The octagon shaped stone is 2.2 carats and is the largest red diamond to be sold at auction. English jeweler Laurence Graff who has a insatiable appetite for the worlds largest jewels bought the ring.
Implications - Despite the recent downturn of the economy, there is still a strong market for ultra-luxury items. Companies and brands that seek to market to the affluent would be wise to invest in extravagant products that skew toward the wealthy. By marketing directly to this segment of the population, companies instantly associate themselves with high-spending consumers.
$2.6M Red Diamond
More Stats +/-
16 Shared Transportation Innovations
Egg-Themed Skincare Sets
Top 60 Toy Trends in March
Top 100 Eco Trends in March
Top 50 Youth Trends in March
Free 2018 Report & eBook
Get the top 100 trends happening right NOW -- plus a FREE copy of our award-winning book.
Our Research Methodology
This article is one of 350,000 experiments. We use crowd filtering, big data and AI to identify insights.
Red Purple Octagon Diamond Sets Price Record
- By: Going Like SixtyNov 19, 2007 Updated: Jun 15 2011