Safeguarding the Public Trust in Diamonds
By Bill Boyajian
This recent series on synthetic diamonds was designed to introduce these products to the consuming public, and to identify the ethical issues surrounding accurate promotion and representation of them. In a world focused on transparency, social responsibility, and truth in advertising, it is vital that man made diamonds are properly identified and accurately represented to the jewelry-buying public.
To facilitate this transparency and to eliminate the possibility of ambiguity, leading members of the diamond and jewelry trade have developed elaborate systems to clearly identify their gems and jewelry, and to safeguard the public’s trust in their products. For example, Gabriel & Co., a leading designer-manufacturer and supplier to thousands of retailers, assures its clients that the diamonds mounted in their jewelry pieces are compliant with the Kimberley Process, which ensures they are conflict-free. In addition, all natural diamonds that Gabriel & Co. uses can be verified through its stringent sourcing and tracking processes, ensuring proper identification.
Many retailers are hesitant to offer synthetic diamonds to their customers as a less expensive alternative to natural diamonds. A big part of their concern is whether increased production of manmade diamonds will drive the price (and the value) of the product down, and not serve the long-term interests of their customers. Time will tell whether synthetic diamonds will make a significant impact in the marketplace. For now, manmade diamonds represent only a fraction of 1% of the total diamond jewelry market, although that percentage is growing annually.