Mined diamonds are a waste of money, an expert says. Here’s why

Lab-grown diamonds sell for one-quarter of the price of traditional ones and an Australian wholesale broker says he can’t tell the difference

When Steve Richards, a gemologist trained to identify grades of precious jewels, was considering a Christmas present for his wife, he settled on a pair of diamond earrings.

These diamonds, however, were not formed deep in the Earth over millions or billions of years and brought to the surface through volcanic eruptions. They were grown in a lab over a matter of weeks and bought for a fraction of the price.

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Fendi’s magic touch: the woman behind the world’s most famous handbag

Artisans from every corner of Italy are putting their spin on Fendi’s iconic Baguette bag. Its designer, Silvia Venturini Fendi, explains why

Last year, Silvia Venturini Fendi was on holiday with her girlfriends in Palermo when she came across a small bottega run by a middle-aged artisan and his father. Enchanted by the beautiful handmade homewares on display, she spent all morning in the store-meets-workshop buying up pieces for her Roman home. A passionate preserver of Italian artisanship, she asked where the third generation was? The man’s daughter, despite knowing how to make everything, was only interested in becoming a fashion model, he said. “What a pity,” Venturini Fendi replied. “She should come here and continue all these incredible things you’re doing. Sometimes you look far when you don’t see great things happening under your eyes.”

The man implored her to convince his daughter and, in classic spontaneous Italian style, it wasn’t long before Venturini Fendi was on the phone sharing her own enthusiasm for family businesses. “The way you learn is by watching people working,” she tells me. “There’s no instruction manual – artisans have to pass on and show their creativity.”

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