Fred Mouawad, the Mouawad Diamond Division Bangkok Co-guardian and the man behind the most expensive piece of lingerie in the world (Victoria's Secret, $11 million) tells Bloomberg at the International Jewelry Show in Hong Kong that the diamond industry is under as much pressure as any other business, but that diamonds are, "probably one of the best asset classes you can invest in." Mouawad said that, "The diamond and jewelry industry goes through a lot of different cycles, and it's very much impacted by the economy. I would say the last three years has been difficult. I think it will remain a little difficult this year. It’s the first time we are going through a global slowdown where there is not one market that’s really thriving when it comes to jewelry.
He says there is a great deal more polarization happening in the industry, as much more volume is moving at the lower price points, but one can still sense that the in-between is where people are having more difficulties. Giving advice on investment diamonds, he says that, "What you really want to do in gemstones is to go for the rarest possible gems", such as D flawless (colorless, free of inclusions). "Mother nature produces a lot of diamonds. Very few are actually pure ... Weh you think about investments you think of rarity. The higher the color, the more rare and therefore the more value." Diamond make such great investments becuase they are, "Small, portable, very high value per size and weight." And the $11 million bra? "We sold one. I think it is more a collector’s item. In general we make them for the beauty, for the show, and we keep them. The one we did for 2015 is still in our possession. And we will probably keep in the Mouawad museam for a long time."