Are synthetic diamonds about to be supervised?

25/01/2018

Will the diamond exchanges start supervising over diamonds that were produced in laboratories?
In the recent years, the market of manmade diamonds has risen, and according to the estimations, millions of carats of manmade diamonds are now sold every year.
All of this is only an estimation, because many of those who manufacture diamonds in the laboratories want to conceal the true numbers of their production, and there are those who claim that substantial amounts of jewelry in India are embedded with diamonds that were produced in the laboratory.
A senior figure in the diamond industry said that "I assume that no one will check these little stones. Although they are cheap, they are shinier than natural diamonds that cost the same".
There are only two diamond exchanges that can lead such a process of supervision, and they are the Indian diamond exchange in Mumbai and the Israeli diamond exchange.
Due to reports that diamonds that are produced in the laboratory are being mixed in unknown proportions with natural diamonds, the Indian diamond exchange has prohibited the sale of synthetic diamonds and the Israeli diamond exchange decided that although this trade is permitted in the private offices of its members, it will be forbidden in its trading hall.
The International Diamond Council (IDC) was established in 1975 in order to provide for its founders the World Federation of Diamond Bourses and the International Diamond Manufacturers Association (IDMA) – customary standards for polished diamonds that will be used in the diamond industry around the world.
Ernie Blom, the president of the WFDB said that an ISO standard defines diamonds as something that was naturally created. This standard always implies that a diamond can't be manmade, and its importance is in the fact that it determines what can be a true diamond.
The need for transparency is in order to guarantee that the consumers will be able to fully trust the diamond suppliers.
As for synthetic diamonds, which is a critical topic in the diamond industry, it should be mentioned, that the diamonds that are produced in a laboratory are from the same chemical substance like natural diamonds, and therefore it is important for the consumers to know exactly what is the type of diamonds that is offered to them?.
Ernie Blom explained that the first steps in enacting a new ISO standard have started seven years ago in Europe, and the WFDB has a strong desire together with stakeholders in the industry like the World Jewel Confederation (CIBJO) to enact this standard.
The main issue that influences the diamond industry is the terminology, which allows the manufacturers of synthetic diamonds to use the term "cultivated" for their product of synthetic diamonds.
The diamond industry of America assumes that even though the term "cultivated" is grammatically correct, by using this term we confuse the consumers who believe that a "cultivated diamond" implies that it is a natural one.
While the retailers, suppliers and jewelers tend to use synthetic diamonds in growing proportions, the need for a full and appropriate candidness is a critical component in defending the consumer trust.
I reemphasize that the use of the word "cultivated" in regards to manmade diamonds is misleading because it implies that synthetic diamonds are created in a natural environment like natural pearls.
The suppliers can also use the word "cultivated" in order to describe a synthetic diamond only if it is used in the course of one of the following authorized terms such as a "cultivated diamond that grew in a lab", "a cultivated diamond that was manufactured" or "a cultivated synthetic diamond".
The synthetic diamonds are still a small part of the market, but this portion is continuing to grow, and this matter must be dealt with by all of the international diamond organizations.          

It's  Definitely  Worthwhile  To  Contact Us –
Always Get The Best Diamond For Your Budget.

Diamond Consulting

©2012 Moti Israeli Diamonds | YCS-Yahalom Creative Solutions, Leveraging Technology. Powered By EasyStock™.