Interview with CEO of Lolo Diamonds
Gracing Miami from the scenic Bogota, Colombia, Lolo Sudarsky is South Florida’s most ebullient diamond dealer and the CEO of LoLo Diamonds. Located in Miami’s iconic Seybold Building, Lolo Diamonds is hidden away and only the true insiders will make it past their heavy security doors. Le CITY deluxe sat down with Lolo Sudarsky discussing the intricacies of running a diamond business in Miami.
Tell us about your business Lolo, what do you specialize in?
I am in the diamond wholesale business, selling to jewelry stores and dealers, and to private collectors. We have an office here in Miami for 15 years and we have another office in Colombia. I never wanted to become a jewelry store. It’s a different business and a different headache. We specialize in diamonds 3 karats and up and we can see good value and make good deals.
Talking about value, you can invest your money into anything. Many people like to invest into gold, or real estate. Why would one invest their money into diamonds?
Diamonds are good for diversifying your money. There are two kinds of diamonds: One are commercial diamonds where you’ll always have your money there because it doesn’t go down as much and the other kind of diamonds which are really for investment which are big, top quality that go up quite high in value.
So what are the trends in diamond investing?
If you really want to invest, you’d have to go for top quality. Miami a city where you sell big stones- anywhere between 3 to 7 karats. Commercial quality that looks very good, but you don’t have to pay big money. We mostly sell in the range between $20,000-$40,000. The demand is high with steady, strong prices.
What about the different certificates in the diamonds?
There are three different diamond certificates: GIA, AGS, EGL. Without a certificate, issued by a reputable agency, such as GIA, AGS, or EGL, or HRD, a buyer relies on a jeweler’s integrity that the diamond’s 4C are accurate and not overstated. GIA is very strict and EGL is also a very good certificate and they are more flexible.
Read the whole interview in the 5th issue of Le CITY deluxe USA. Buy here