The Understated Luxury of Diamonds: Jeffrey Rackover

By Jeffrey Rackover

To some, diamonds are simply a decorative adornment, something to be worn while attending a black-tie affair. I constantly work to change that perception. A fine diamond is so much more than a simple piece of jewelry; rather, it is an investment in your future. And in these uncertain times, there is no better investment to make than in a diamond.

Even in the challenged economy, if one wanted to cash in on a diamond purchased 20 or 30 years ago, he or she would receive a huge return on their investment, one that is unmatched in virtually every other industry. While prices may be down from their height of $175,000 per carat (in the 10-carat-plus range) of D-flawless diamonds, which are the best of the best, every industry is seeing the affects of the market. Prices may have come down 20 percent, but rest assured, they will soon will soon begin to climb, so there is no better time to purchase a fine diamond than now. In my business, I have helped many take advantage of these prices. In fact, there has been a marked increase in my sales of engagement rings, as men are buying larger stones for their beloveds than they would have been just last year. By purchasing these resilient stones, these lucky couples are investing in their futures in more ways than one.

For the summer, the “classic” look continues. Just as the social trend this season in the Hamptons is for smaller, more intimate gatherings instead of the blow-out bashes of years’ past, the “in” jewelry pieces are smaller, less flashy than last year’s counterparts. Staples, multiple bangles, diamond studs, brilliant-cut cocktail rings: these are all acceptable, regardless of location. If you need to spice it up for a more formal affair, these same pieces transcend from day to night-that is part of the appeal of classic jewelry; it is right for every occasion. Of course, with the summer season comes color: yellow and pink diamonds are the epitome of quiet elegance right now.

Cheers,
Jeffrey Rackover

Jeffrey Rackover
589 5th avenue
New York, NY 10017
212.644.3838