Industry News by Nemesis

Natural Diamonds Still Sell Out Because of Their Emotional Value - Gemmyo

December 22, 2019

Customers still buy natural diamonds because of their emotional value, despite the fact that the cost of synthetic diamonds is less by 30-40 percent, says Pauline Laigneau, co-founder of the French jewelry house Gemmyo. 


"We should not forget about the sentimental value of the diamond. Choosing between Picasso's painting, signed by the master himself, and a very beautiful reproduction, we always give preference to the original. We have some decline in demand, but customers who come to find strong emotional value in a gem are willing to pay more for a natural diamond," said Laigneau quoted by magazine Le Point. 


Production of synthetic diamonds is currently estimated at 3-4 million carats per year in comparison with 160 million carats of natural diamonds. In the weight segment synthetics also cannot compete with natural stones. 


The largest synthetic diamond produced to date weighs 9 carats. It adorns the ring from Courbet, sold for 450,000 euros. The weight of the largest cut diamond in the world - Golden Jubilee, which is estimated at $4-12 mln, reaches 545.67 carats.

 

Source: Rough&Polished

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