The famous rappe, L'il Jon, just set a Guinness Record for largest diamond pendant ever recorded. The diamond pendant costs roughly $500,000.00. It has 73 carats of diamond in it and 3,756 round-cut white diamonds in the necklace. Overall, the total set of this jewelry weighs 12 pounds, 7.5 inch tall and 6 inch wide. The pendant is designed with a phrase "Crunk Aint Dead".
Implications - While the bridge between the rich and the poor continues to expand, individuals with disposable income are increasingly looking for new extravagant products. Businesses will benefit by honing in on the small but wealthy group of individuals who still consider an luxurious lifestyle their main priority. Companies need to realize that not all consumers are in the midst of supervising their spending and that there is still a market for lavish products.