Thursday, July 12, 2012

More Synthetic Diamonds Found

A dream come true if they're real

Looks like another batch of undisclosed synthetic diamonds were submitted to GIA. These diamonds were submitted to a lab in Hong Kong and appear to be similar to the synthetics that were discovered a few months ago. This batch appears to be of the same quality as those manufactured by Gemesis. The synthetics are rumored to be from the same company based in New York.

This is bad news for the diamond industry. While GIA is able to find and identify the synthetic diamonds that are being submitted to their lab for grading, it is causing a problem with reputation. It’s not that synthetic gemstones or diamonds are a problem; it’s a problem when they are not disclosed prior to grading, and what about the one that aren't graded? This recent influx of synthetic diamonds to GIA has me thinking that something is going on, and it’s not good.

An unusual use of diamonds

July and August are typically slow periods in the jewelry industry. We spend more time working on advertising, our websites and getting inventory and product together. Many jewelers are sending diamonds to the lab for grading. This is probably why so many synthetics hit GIA at once. The summer months are used for preparation for the coming holiday season. The holidays are the busiest time of year for jewelers and everyone has to have their "stuff" together.

What will be interesting to see if how the jewelry industry handles this problem with undisclosed synthetic diamonds. Will an investigation into whom or why so many synthetics are being submitted ever take place? Can the powers that be ever get to the bottom of this mini scandal and can any fears that crop up in the consumer sector be quelled? These are all valid questions and concerns. With the biggest time of the year for jewelers’ right around the corner I hope that this doesn’t get worse. Not sure how it will end.

No comments:

Post a Comment