Lab Grown Diamonds and its place in the Industry
Synthetic diamonds has found its way on the shelves of many respected jewelry stores, all across the country and boy is it causing a frenzy! But what does that mean for the diamond industry, exactly?
A survey reveals that 80% of jewelry retailers would prefer that lab grown diamonds not be listed in the RapNet database, and in addition treatment and origin documents should be publicly disclosed; whereas, another survey showed that 25% of independent retailers support the idea of reselling these man made gems, due to the profitable demand of the millennials.
It is believed that both synthetic and natural diamonds hold differential value and because of that, a manufactured diamond should not be discredited and seen as competition; instead, used as a more feasible option for buyers.
Whether for or against the fabricated jewels, our industry is ever changing. Could our loyalty to the natural diamonds potentially prevent the growth and evolution of independent retailers, or will they continue to stand the test of time?
Like the old saying goes, “Pressure makes diamonds.” - George S Patton, Jr.
Thanks & Regards,
Kalman Klein & Kathy Hillelson
Owl Financial Group, LLC
50 West 47th Street, Suite 2006, New York, NY 10036
P: 212.319.1250 | F: 888.518.5744 | 844.CALL.OWL