De Beers to Sell Diamonds Made in a Lab for First Time   

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The world’s largest diamond-mining company, De Beers, is to sell lab-made diamonds for the first time in its 130-year history. In a statement released this morning, De Beers said it will market the lab-grown diamonds—which are much cheaper than mined diamonds—in a new fashion line called Lightbox.
“Lightbox will transform the lab-grown diamond sector by offering consumers a lab-grown product they have told us they want but aren’t getting: affordable fashion jewellery that may not be forever, but is perfect for right now,“ said CEO Bruce Cleaver. “Our extensive research tells us this is how consumers regard lab-grown diamonds—as a fun, pretty product that shouldn’t cost that much—so we see an opportunity here that’s been missed by lab-grown diamond producers.” Man-made diamonds make up a small part of the $80 billion global market, according to Bloomberg, but demand is increasing. Read more at Bloomberg.

{Matzav.com}

7 COMMENTS

  1. Oh great. So this is an opening for serious scamming in the industry. How is the layman off the street supposed to know the difference when he wants to purchase a real diamond? The old switcheroo goes back thousands of years. Who is going to regulate the price?

  2. The real diamonds have a grading certificate from leading institutes, such as GIA, AGS, and EGL – in the same way that kosher food gets a hechsher, and you’ll only way from a hechsher that you trust.
    (I know this from having worked many years in the diamond industry)

  3. The lab made diamonds sell until now for half as much as a natural diamond. The customer has no way of knowing which he is getting as it takes a special device to differentiate them.
    With DeBeers starting to sell them at 10% of what a natural diamond sells for, the temptation on the part of jewelers to pass off the lab made as natural grows that much greater.
    An honest jeweler may sell a choson the lab made at its real price and the kallah will never know.
    On the other hand, the smart kallah will tell her choson to buy the lower priced diamond and still be able to show herself as having received diamond ring.

    • “An honest jeweler may sell a choson the lab made at its real price and the kallah will never know.”
      I’m not sure if the irony of that statement is deliberate, but funny regardless.

  4. Certificates like GIA, AGS, and EGL are also fake. I’ve seen sellers get few certificate for the good diamonds so they can sell their cheaper diamonds with those certificates.
    This is from a huge reputable company.

  5. Certain fakes can be spotted fairly easily by the layman, once you know the signs. for example, a CZ has a grey area when you turn it at certain angles. An honest jeweler can teach the public how to spot different types of synthetic diamonds. It’s probably even available online.

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