The seminar was intended to educate the audience as to the growth of man-made diamond manufacturing and discussed ways in which this interacts with the other components of the trade, in particular the natural diamond jewelry industry, and how these interactions can be successfully managed.
The reality is that synthetic diamonds are rapidly coming of age quality-wise in comparison to even the best natural stones. As a result, increasing numbers of man-made stones are mixing with natural products in the supply chain. Where this is being done in an above-board manner is not a problem, but there is a rising amount of synthetic diamond being surreptitiously introduced into certain product lines such as diamond set jewelry where it is not economical to test every single stone.
“Lab-grown diamonds have been a rising industry concern and its time that industry leaders step up and take a lead by eliminating the middlemen and by bringing in transparency on matter that is subjective at the moment. The need of the hour is to educate the industry that synthetic diamonds is not a problem but mixing the ones with natural might lead to a bigger problem,” said, Nicholas Del Re, Chief Information Officer at GSI.
Although not yet of serious proportions, the continued introduction of synthetic diamonds into the retail jewelry trade, if allowed to continue on an undisclosed basis, is likely to lead to one or more severe crises bringing about a potential public collapse in confidence as to the value and ability to resell these mixed sets. While there has always been some small measure of various forms of undisclosed diamonds in the industry, the traditional tracking methods have, thus far, proven sufficient to maintain a general belief in diamonds as both an object of rare beauty and as an investment. It is clear, however, that new-procedures in verification as to the origin and type of diamond are going to be needed.
“At GSI, we have always maintained American standards for Diamond Detection by grading the 4’c. GSI has been able to incorporate the very latest and best in technology with experts in the research & development team. At GSI, application of technology is right at the very beginning of our diamond grading process,” said, Ms. Seema Athavale, Chief Gemologist, and Research & Development at GSI.
In particular, everyone in the industry needs to start proactively cooperating on finding new policies and procedures that will prevent this topic from becoming a subject of general public awareness. With the possible exception of various criminal enterprises, it is in nobody’s interest to degrade standards and deceive the public as to the value of their purchases.
As a certified full-service lab for the global diamond and colored stone trade, GSI believes it is important for everyone in the industry to understand what new tools for verification are currently available and which ones are nearing the end of their beta testing phase. While new administrative and tracking procedures are certainly a part of the solution, greatly improved test equipment would go far in finishing the job as well and highly skilled research & development will be needed, but the industry needs to be made aware of what tools are available and how important it is for them to be deployed on an essentially universal basis.
The final consumer of all diamond products must rest fully assured that the items they purchase are accurately labelled and graded. The only way to achieve this is through an industry-wide commitment to proper classification of man-made stones and impossible-to-evade safeguards that will catch any and all attempts at circumventing these procedures. Seminars attendees will leave with a superior understanding of all these underlying factors as well as getting an early look at all of the new verification measures designed to provide accurate and swift classification in a low-cost manner.