A World of Increasing Rarity: Green Fancy Diamonds With A Master Strategy to Sell Them
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Jennifer Lopez via her IG; actual green diamond engagement ring.
Jennifer Lopez and Ben Affleck have done more to educate the world about fancy diamonds than any two people alive.
Neither of their engagement rings was purchased at Astteria, headquartered in London, but they could have been. This introduction to George Hadary, widely referred to as ‘George the Jeweller’, and his company Astteria UK is about so much more than fancy diamonds.
Perhaps it’s because I devoted 30 minutes listening to Mr. Hadary’s podcast with Paul Zimnisky [scroll to bottom of page] that I have a sense of his personality. My original intention was to only write about the world of fancy diamonds — triggered by the Lopez-Affleck late summer nuptials and their major impact on the shrinking world of fancy diamonds.
But after listening to George Hadary speak, I was truly impressed not only with his communication skills, but the way he has created intimacy and trust online, meeting with new and old clients in the digital space. In fact, ‘George the Jeweller’ can teach most of us how to operate with integrity in our online businesses.
First, Let’s Get Fancy
When Lopez and Affleck reunited in love for the second time in 2021, nearly two decades after they filmed the movie ‘Gigli’ in 2002, the diamond masters of the universe knew that this second-act engagement would be spectacular.
The first fancy diamond ring Ben Affleck purchased for Jennifer Lopez in 2002 was a 6.1 carat pink-diamond solitaire, and it was breathtaking. Today pink diamonds cost as much as 50 times the price of white diamonds, while making up less than two percent of all diamonds sold.
The closure of Australia’s Argyle Mine, supplier of 90 percent of the world’s pink diamonds, will drive their value higher.
In Praise of Green
In April 2022, Jennifer Lopez revealed that she and Ben Affleck were engaged for the second time. On J Lo’s ring finger was a spectacular 8.5-carat natural green diamond.
In the world of fancy diamonds, red and green are the two rarest colors — with red the most rare of all. Industry experts say that the value of red diamonds has risen by 500 percent in two decades.
Green diamonds are so exclusive that only a handful are introduced to the market each year.
Writing in April, 2022, Bloomberg cited an early winter call on the street for about two months for “an approximately 10-carat green diamond—intense or vivid, green yellow, or yellow green.”
JLo says that green is her lucky color, reminding readers of a certain green dress — that would be the infamous plunging Versace dress that she wore to the Grammy awards in 2000. “I’ve realized there are many moments in my life when amazing things happened when I was wearing green,” the star wrote ‘On the JLo’.
Estimates of the price of the Affleck’s green diamond range from $5 - $10 million, but no one really knows. Now that the ring has been discussed and researched for several months, it has only grown in stature and reputation.
Astteria [aka Asteria] but Astteria is used in all online media, has a very detailed information page about green diamonds on their website. And AOC shares a sampling of beautiful green diamond jewelry from the Astteria website.
One of the drivers of escalating fancy diamond prices is the growth in loose colored diamonds being purchased as investments, serving as discreet, valuable, and lucrative assets. Ultra rich investors are counting on the forecasted growth of colored diamond values and the relatively stability of these “recession proof investments” to bank on considerable profits with comparatively low risk.
Investors include professionals and funds investing on behalf of ultra rich clients who buy colored diamonds as alternative investments. This new demographic of investors has significantly expanded the diamond market, traditionally dominated by rare gem collectors and connoisseurs
Digital Marketing Lessons from George Hadary
AOC readers know that always before writing about any company in fashion or jewelry, I look for 1) sustainability and ethical procedures prominently displayed on a website and social media; and 2) a sense of ‘ubuntu’, the traditional thought of southern Africa. Ubuntu is a Nguni Bantu term meaning humanity and a sense of interconnectedness. “I am because we are.”
You can read about the philosophy of Astteria on the environment and transparency. The company controls almost the entire process of bringing the stones to market in the form of high jewelry, an asset in a world where traceability means everything with younger customers.
In the podcast referenced top of page, Mr. Hadary shares all the details of how the company evolved with its partners and organization. The story is also told on the website of how the brand Astteria London was born — a brand that stands for fancy color diamond jewelry and is branching out into more exciting gemstones.
George was advised not to do it, that these types of stones were not suitable for England. Very British himself, ‘George the Jeweller’ followed his own instincts.
Astteria has locations in London, New York, and now Palm Beach where clients can get consultations for custom-made pieces. The brand has created a wonderful experience for its global clientele, with a dynamic display of colorful diamonds and gems set in carefully paired precious metals.
Appointments are also available in Hong Kong, Tel Aviv, and Shanghai.
There are also brokers who act on behalf of clients seeking a certain type of diamond — just as Ben Affleck sent out a call for the diamond he was seeking for Jennifer Lopez.
What has evolved from a marketing and customer relationship experience is a combination of digital experiences that are adapted for each client. Hadary explains that the vast majority of his clients are over age 30 and in many cases he sells the second or third piece of high jewelry, not the first one.
These are sophisticated businesspeople with a level of comfort with digital life. George’s team was adept at selling online before COVID hit. As a result, they did not suffer during global lockdowns as did many other high-end luxury jewelers.
As Hadary explains to Paul Zimnisky in the podcast, it’s already been three or four years that the company has been advertising and selling Astteria diamonds via pictures and videos that are shared on all major digital marketing platforms. These include WeChat, WhatsApp, Instagram, and Facebook.
A 30-Day Return Guarantee
In his podcast, Hadary stresses that Astteria is devoted — almost fanatically so — to a 30-day, absolutely no questions asked return guarantee. Nothing has to be wrong, except that the buyer has changed his or her mind about the purchase. In a business where reputation means everything, Astteria clients know that if something goes wrong, the guarantee stands.
People don’t arrive on the Astteria website and purchase a $16,000 piece of jewelry. Drawing in new customers is done through organic and financed online marketing and advertising. Those marketing efforts are targeted to elite buyers.
George Hadary stresses that the company invests heavily in online videos and high-quality photography. With the very detailed marketing materials, focused on capturing the detailed brilliance of the stones in online-media materials, the Astteria audience has a clear idea regarding the type of prestigious item they would be purchasing.
Yes, Astteria's Instagram page is beautiful and not loaded up with models and special events shots. But there are critical differences in the quality of the videos and how the jewelry is shown.
I’m viewing the images on a new super deluxe Macbook Pro, but I assume that Astteria’s clients also have access to the very best technology.
These Instagram videos give one a great sense of the quality of each piece.
Hadary explains that most new clients do reach out digitally at first. That may come through the contact page on the website or a phone call. Often people visit the website from Instagram. There may be several emails as people become accustomed to purchasing such fantastic and expensive jewelry online. Typically then the conversations move to WhatsApp or similar service where the parties are exchanging conversation ‘face to face’.
It’s the client who determines the pace and medium of communication. Hadary doesn’t say so, but I assume that for a prospective 5-star client, someone may get on an airplane to meet at a secure Astteria location or suitable location like Brink’s.
George Hadary’s “people skills’ are praised on the website, but they really come through loud and clear when he speaks. He is absolutely an ambitious, very intelligent, savvy businessman. But there is also a warmth to his personality that inspires engagement and trust. He’s a human you want to know — an asset to the planet.
I’m no expert on selling the finest jewelry to an elite clientele online, but it seems to me that trust and a sense that a person has fine character go a long way in cementing a long-term relationship. I will be getting an education on the Astteria website and researching in more depth on this most interesting, largely-digital luxury business. ~ Anne
