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Gabon courts foreign investors to grow fledgling diamond sector

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President of GSI commented on diamond spending trends amongst millennials

11 november 2019

gsi_logo.pngDebbie Azar, president and co-founder of Gemological Science International (GSI), was recently interviewed by streaming news channel Bold TV. 
During her segment, she commented on diamond spending trends amongst millennials and what consumers should look for when buying diamonds. 
Millennials account for 40 percent of diamond sales and many are women “self-purchasers”, Azar said. 
On lab-grown diamonds, she explained that while they have the same physical, chemical and optical properties - there are noteworthy differences. 
“There are some key differences, such as the price and the value,” Azar stated when asked about natural and lab-grown diamonds. “It’s important to also note that natural diamonds have historically maintained their value , which is why they are passed down from generation to generation and why you can sell them on the secondary market,” she added noting that the long-term value of lab-grown diamonds is still unknown. 
She concluded that both options may be the right one for consumers based on their buying needs and as long as they are educated between the two, and receive a grading report from a reputable gemological lab like GSI to know exactly what they are getting. 

Alex Shishlo, Editor of the Rough&Polished European Bureau