Industry News by Nemesis

De Beers Providing Its Own Clarity About Natural and Laboratory-Grown Diamonds

November 25, 2019

The De Beers Group has created a new booklet to clearly differentiate between two "entirely different" products, with two entirely different value propositions, which now form part of its product portfolio: natural and laboratory-grown diamonds. 


According to the Diamond Loupe, the booklet was distributed to 'sightholders' and stakeholders, and addresses the primary differences among the two products, such as; rarity, the types of jewelry for which they are appropriate, the environmental impact of the two products and the question of 'legacy'.


"This booklet equips diamond professionals with the facts to communicate accurately to consumers," De Beers Group says. According to it, natural diamonds are "inherently rare and precious", while laboratory-grown diamonds (LGDs) are "mass-produced in batches [and thus are] neither rare nor unique, so they don't possess the enduring value of natural diamonds." To illustrate, they note that LGD prices have declined by two-thirds inside a year, and will likely continue to fall as the technology improves. 


The difference between their inherent properties also makes them suitable for different types of jewelry, with diamonds appropriate for jewelry marking significant moments in life, enduring in value and serving as family treasures to be handed down to future generations, while LGDs are suitable for the low-price, non-precious jewelry segment. They are conceived for accessible fashion jewelry one wears for fun rather than for emotional significance.


De Beers' booklet also seeks to dispel the myth of the lower environmental impact of LGDs.

 

"More than two-thirds of LGD supply are manufactured in China, Singapore or India and have a significantly larger carbon footprint," booklet says.

 

Source: Rough&Polished

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