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Why Aren't Millennials Buying Diamonds, The Economist Asks

"We all work at Verizon and Lids at the mall."

Hey millennials: Why aren't you buying diamonds?

It's a question that The Economist had for people born between the 1980s and the early 2000s after the tennis ball-sized Lesedi La Rona diamond failed to sell at a Sotheby's auction last week.

See, the diamond was discovered by the Lucara Diamond Corp., a Vancouver-based company that found the stone in Botswana.

They tried to auction it for $92 million. But the highest bid it drew was $79 million.

The Economist said the diamond industry is struggling to sell to millennials because they're wary of "the taint of conflict and exploitation." It's an understandable concern — but one that "irks Lucara and other listed diamond miners" because they claim to "play by the rules."

Now, The Economist is an august magazine that is keenly aware of the struggles that millennials face.

But the magazine might have done better to ask its question another way.

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