Although synthetic diamonds have been around since the middle of the 20th century, advances in production technology have just recently made it possible to create lab-grown diamonds in yellow, pink, champagne, and colorless varieties that possess all of the physical and chemical properties of their naturally mined counterparts.
These synthetic gems might have been perceived as a threat to the industry in the past, but experts such as Bill Boyajian, graduate gemologist, former president of the GIA, and founder and CEO of Bill Boyajian & Associates, say the time has come to inform and educate consumers about this increasingly ubiquitous alternative to mined diamonds.
Synthetic diamonds cost 20 to 30 percent less, which could be attractive to price-sensitive consumers, and their production avoids the question of the conditions under which they were mined and who profits from their sale. It is incumbent upon retailers to communicate with full transparency to customers about the factors that distinguish these gems.
A greater concern for the jewelry industry is that these lab-created stones would be passed off as their mined counterparts and misrepresented when they are sold, a prospect that has prompted retailers to take a closer look at their supply chain and authentication management protocols.
Series sponsor Gabriel & Co. has long supported clear, accurate, and unambiguous disclosure of natural mined diamonds as well as all man-made and treated gem materials. In support of full disclosure, Gabriel & Co. has chosen to use only natural diamonds that can be verified through our stringent sourcing and tracking processes. For more on this topic, please read guest blogger Bill Boyajian’s “Are Diamonds Forever?” at Gabriel & Co.’s website.