The American Gem Society (AGS) will present panel discussions on lab grown diamond pricing and supply, advances in lab grown identification and the art of natural diamond storytelling.
The three-hour Confluence is an online-only event, featuring three pre-recorded sessions, designed to allow the speakers to take part in a live chat Q&A.
The event is scheduled for 25 September and will be accessible to non-AGS members for a $150 fee. The sessions will remain available, on demand, until 31 December.
The Importance of Diamond Screening: Challenges, Techniques, and Resources covers the latest screening technologies and their limitations, providing guidance on using gemological instruments for verification.
Laboratory-Grown Diamonds: Pricing, Supply, and Disclosure explores the complexities of the lab grown diamond market, including pricing dynamics and the importance of transparency.
And The Incredible Story of Natural Diamonds delves into the geological history and mining processes of natural diamonds, featuring insights from experts at GIA , which is sponsoring the event.
AGS is a nonprofit trade association representing a select group of jewelers, independent appraisers, and suppliers in the jewelry industry.
New Delhi: India’s lab-grown diamond industry is facing challenges such as significant fall in prices, eroding consumer interest and competition from imports, think tank Global Trade Research Initiative (GTRI) said Sunday, adding said that though India faces the issue of production overcapacity, it continues to import in large amounts and this issue needs deeper investigation.
To address these challenges, the government needs to take certain steps such as setting clear and consistent rules to standardize quality, certification, and market practices; issuing a Quality Control Order to check quality of imports; and investment in research and development to improve production processes, reduce costs, and enhance the quality of lab-grown diamonds.
As per the report, India’s lab-grown diamond industry is facing a major challenge, with prices falling by 65% in the past year to Rs 20,000 per carat from Rs 60,000 due to local overproduction and oversupply from abroad, which points to problems like overproduction, high imports, and lack of regulation. The number of units producing lab-grown diamonds in India has increased to 10,000 units, leading to over supply and tougher competition.
The industry lacks clear regulations checking such practices, making it hard to ensure quality. Lack of proper certification, and low trust market operations could slow down the industry’s growth, according to GTRI founder Ajay Srivastava.
He added that 98% of India’s imports of rough lab-grown diamonds come from Hong Kong (63.7% or $728.2 million) and the UAE (28.5% or $326 million).
In FY24, India imported rough lab-grown diamonds worth $1.14 billion and exported cut and polished ones worth $1.3 billion.
Natural diamonds cost around Rs 3.5 lakh per carat and this price drop is making it difficult for manufacturers to repay loans taken for purchasing lab-grown diamond making machines, putting them under financial strain, GTRI said.
The American Gem Trade Association announced that, starting at Tucson next year, exhibitors will not be allowed to sell lab-grown diamonds or colored gemstones at the AGTA GemFair.
National Jeweler received a news release on AGTA’s decision via email Wednesday morning. The release also was posted on the AGTA website, though it had been removed by Wednesday evening.
AGTA CEO John W. Ford Sr. said the news release was “pulled by error,” and would be reposted today.
According to the release, AGTA’s new rule bans the display of loose gemstones or jewelry “comprising non-natural gemstones, ones that are man-made, synthetic, or lab grown.”
AGTA said its dealers can still sell lab-grown gems if they are disclosed, but only natural gems can be made available for purchase at GemFair.
The association said it enacted the ban to “thwart potential confusion,” confusion it sees happening in the lab-grown diamond industry and fears will affect the colored gemstone industry, even though lab-grown colored stones have been around for more than a century.
When asked what led to the belief that confusion was occurring, or could occur, in the colored gemstone market, Ford said in an email to National Jeweler, “Look no further than the chaos created by synthetics in the diamond industry … Our action is also in response to considerable concerns voiced by AGTA membership in relation to the adverse effects that synthetics could also potentially cause in the colored gemstone industry.”
While the AGTA’s decision has made headlines, it does not seem poised to have a big impact on AGTA GemFair exhibitors, few of whom sell lab-grown gemstones anyway.
In his email, Ford said out of the 260 exhibitors of loose or set gemstones at the 2024 AGTA GemFair Tucson, only two list that they sell synthetic gemstones in the AGTA Source Directory.
“Since sending out over (260) 2025 AGTA GemFair Tucson renewals, we’ve had an overwhelmingly positive response from the vast majority of our exhibitors, greatly outweighing any negative responses,” he said.
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In its news release, AGTA also noted that lab-grown gemstones lack the value inherent to natural gemstones, which are rare and sometimes inimitable.
“AGTA felt that it needed to be crystal clear to buyers that when they attend an AGTA show, they know that they are only shopping mined natural gems from the earth,” said Kimberly Collins, AGTA board president and owner of Kimberly Collins Colored Gems.
“AGTA dealers pride themselves in sourcing superior gems that are rare, beautiful, and natural.”
AGTA also notes that “synthetic gems are not minerals.”
The association said it recognizes two definitions of the word “mineral”—that of the British Geological Survey, defining a mineral as “a naturally occurring substance with distinctive chemical and physical properties, composition, and atomic structure” and that of the U.S. Geological Survey, which defines a mineral as a “naturally occurring inorganic element or compound having an orderly internal structure and characteristic chemical composition, crystal form, and physical properties.”
“The definitions are essentially the same, but the keyword in both that is important is use of the word ‘natural,’” said AGTA board member John Bradshaw.
“It’s important to indicate that synthetic gems are not considered minerals, because minerals are natural, and synthetics are not.”
Ads for synthetic diamond jewellery have been banned after the UK company behind them, Skydiamond, did not make it clear they were not real.
Even though the strapline of the newspaper advert was the “world’s first and only diamond made entirely from the sky” and a social media ad said “love is… a diamond gift made from the sky”, there were complaints from the National Diamond Association.
The advertising regulator upheld the complaints and concluded that the ads were misleading and said they could not appear again in the same form, including on the company’s website without, better explanation.
Skydiamond, the trading name for The Sky Mining Company Ltd, was told by the Advertising Standards Authority not to use the terms “diamonds”, “diamonds made entirely from the sky” and “Skydiamond”, and not to describe its synthetic products “without a clear and prominent qualifier”.
The firm was told by the ASA that it must use terms such as ‘synthetic’, ‘laboratory-grown’ or ‘laboratory-created’, “or another way of clearly and prominently conveying the same meaning to consumers” and were not to use the claim “real diamonds” to describe synthetic diamonds.
Sky Mining said both the ads and extensive information and graphics on its website set out that their diamonds were manufactured in a laboratory, with detailed information on the production process on its website.
The company said the very brand was built on the premise that their diamonds did not come from the earth and do not have the negative environmental impacts associated with diamond mining, with all components required sourced from the sky: atmospheric carbon dioxide (as a source of carbon), rainwater (as a source of hydrogen) and renewable energy from solar and wind power.
As explained on the company’s website, Skydiamonds are made from carbon dioxide and hydrogen extracted and produced using proven industrial processes and combined to form methane in a biological process, with methane fed into chemical vapour deposition machines in which diamonds developed at a high temperature over 14 days.
It says for every carat of Skydiamond produced, greenhouse gas emissions are reduced by 99.79% compared to mined diamonds, and that compared to growing diamonds in a laboratory, mined diamonds produce 4,383 times more waste, use 2.14 times the energy and 6.8 times as much water.
The ASA acknowledged that further information on the Sky Mining manufacturing process appeared on About Us pages of the website among other pages.
“However, in the absence of a clearly worded and prominent qualification such as ‘synthetic’, ‘laboratory-created’ or ‘laboratory-grown’, or another way of clearly and prominently communicating the same meaning, we considered it was still ambiguous as to whether the diamonds were synthetic or not,” the regulator said.
Human-made diamonds come with an appealing claim: Manufacturers say the stones are produced ethically using renewable energy. But many of the products do not meet that claim or their producers do not confirm the electricity sources they use. And, laboratory diamonds require a lot of electricity to produce.
In the United States, lab-grown diamond sales increased 16 percent in 2023 from 2022, says Edahn Golan, an industry expert. The stones cost much less than natural diamonds.
Bario Neal is a jewelry store in Philadelphia, Pennsylvania. It uses lab diamonds. All of the stones are either made with renewable energy or neutral use of energy through the carbon credit system. Credits pay for activities like planting trees, which capture carbon.
Social media posts show Millennials and Generation Zs proudly explaining the purchase of their lab-grown diamonds for sustainability and ethical reasons. But the sustainability of production is questionable. A high number of manufacturers are not transparent, or open, about their operations.
Many of the manufacturers are in India, where about 75 percent of electricity comes from burning coal. The companies use words like “sustainable” and “environmentally-friendly” on their websites. But they do not release reports on the environmental effects of their operations.
Cupid Diamonds, for example, says on its website that it produces diamonds in “an environmentally friendly manner.” But it did not answer questions about the sustainability of its operations.
Solar energy is quickly expanding in India and there are some companies, such as Greenlab Diamonds, that use renewables in their manufacturing processes.
China is the other major country producing laboratory diamonds. The largest makers did not return requests for comment. They also did not release details about their electricity source.
More than half of China’s electricity came from coal in 2023.
Paul Zimnisky is a diamond industry expert. He said few companies are honest about their supply chains and their use of renewable energy.
Zimnisky said a lot of companies claim to make an “environmentally-friendly product when they aren’t really doing anything that’s environmentally friendly.”
How it is made
Lab diamonds have been in production around seventy years. Producers treat carbon to high pressure and high temperature. The idea is to copy the natural conditions that form diamonds underground. But, nature spends at least one billion years to make a diamond. Lab diamonds are complete in a few weeks.
In the past, the stones were used mostly in industries like stone cutting, mining and dentistry tools.
Over time the laboratories, or foundries, have gotten better at making stones. Production costs have dropped as technology improves.
Companies now can manufacture as many stones as they want and choose their size and quality.
Diamonds, whether lab-grown or natural, are chemically identical and entirely made out of carbon. Experts can identify between the two using lasers to examine their atomic structures.
Marketing battle
The lab diamond is competing in the same market as natural stones. Worldwide, lab-grown diamonds are now 5 to 6 percent of that market. And, the public battle for customers has begun.
The natural diamond industry and some experts argue that lab-grown diamonds will not hold value over time.
Zimnisky predicts that natural diamonds will continue to sell in the thousands and tens of thousands of dollars for engagement rings.
And the human-made stone?
“Five to ten years into the future, I think there’s going to be very few customers that are willing to spend thousands of dollars for a lab diamond,” he said.
Page Neal said she co-founded Bario Neal in 2008 to “create jewelry of lasting value that would have a positive impact on people and the planet.”
She added: “We want to only work with materials that we feel like our clients would be proud to own.”
I’m Dan Novak.
Dan Novak adapted this story for VOA Learning English based on reporting by The Associated Press.
The World Jewellery Confederation (CIBJO) and the International Grown Diamond Association (IGDA) have agreed to collaborate to protect consumer confidence around synthetic diamonds.
The organizations have signed a memorandum of understanding (MoU) calling for the pair to develop standards, operating principles and terminology for lab-grown diamonds, they said Monday. IGDA president Joanna Park-Tonks will sit on CIBJO’s laboratory-grown diamond committee, which has created a “Laboratory-Grown Diamond Guideline” governing standards for trading and handling synthetic stones.
The honest and accurate presentation of sustainability issues is a current focus for CIBJO’s laboratory-grown committee and was an element during the discussions between CIBJO and IGDA, the organizations said.
“We have had open lines of communication for some time already, and IGDA did participate in the public review before we released the ‘Laboratory-Grown Diamond Guidance’ document in 2021,” said CIBJO president Gaetano Cavalieri. “Over the past several years, the laboratory-grown diamonds sector has grown into a large and a prominent part of our industry, and we all have a vested interest in each other’s success.”
The signing took place on Sunday during the National Association of Jewellers (NAJ) Summit in Birmingham, UK.
De Beers’ Lightbox lab-grown diamond brand is trialing sales of engagement rings, marking a major shift for the company, which previously insisted synthetic stones were not a product for important milestones.
The retailer is publicizing lab-grown diamond engagement rings on its home page, promising a “stress-free and risk-free” shopping experience. “Our cutting-edge technology ensures each of our lab-grown diamonds are quality guaranteed,” the site reads, with the marketing line: “Because great chemistry deserves great chemistry.”
A link takes viewers to a page listing 16 items featuring regular Lightbox lab-grown diamonds, or stones from the brand’s Finest line, which have higher color and clarity. The standard collection usually sells for $800 per carat plus the cost of the setting, while Finest retails at $1,500 per carat. The selection includes white, pink and blue stones, with prices ranging from $500 for a three-stone ring to $5,000 for 2 carats.
Lightbox was unavailable for comment on Sunday, but told Women’s Wear Daily (WWD) and JCK it was running “a small in-market test of consumer preferences in the lab-grown diamond engagement ring segment.”
When De Beers launched Lightbox in 2018, Bruce Cleaver, the miner’s CEO at the time, presented lab-grown as a product that “may not be forever, but is perfect for right now,” claimed there was “no real emotional value in lab-grown diamonds, because they’re not unique,” and said the stones did not warrant grading. It later debuted the Finest line, introduced stones larger than 1 carat, and started declaring the cut quality, color and clarity of its stones.
India-based Ethereal Green Diamond has created and sold the largest polished lab-grown diamond in history, according to the International Gemological Institute (IGI), which graded it.
Named Shiphra, the emerald-cut, 50.25-carat, type IIa stone has G color, VS2 clarity, and an “excellent” score for cut, polish and symmetry, IGI said Thursday. It measures 22.95 x 18.45 x 11.57 millimeters. It’s the world’s first polished lab-grown diamond above 50 carats, IGI claimed.
Ethereal grew the 150-carat rough using the chemical vapor deposition (CVD) method over a period of eight months. It cut the stone in Surat, India, and will display the polished at its JCK Las Vegas booth. Swiss brand Shiphra Jewelry has bought it and lent its name to the piece.
“This gemstone is a paradigm-shifting breakthrough, surpassing 50 carats while exemplifying preeminent standards of sophistication and quality,” said Tehmasp Printer, president and managing director of IGI India.
The record comes shortly after IGI graded its largest lab-grown diamond to date: A 35-carat CVD stone that Maitri Lab Grown Diamonds produced. Last month, the Gemological Institute of America (GIA) said it had examined a 34.59-carat diamond that Ethereal synthesized using the same method.
Lightbox has promoted Adam O’Grady to the newly created role of chief operating officer, effective March 27.
The executive will lead all aspects of supply chain and manufacturing activity for the De Beers-owned lab-grown diamond company, it said last week. These include diamond synthesis and jewelry manufacturing, cutting and polishing, and research and development.
O’Grady has been general manager of the Lightbox lab since 2019. In addition to his new responsibilities, he will continue to oversee operations and engineering at the company’s advanced manufacturing lab in Gresham, Oregon, where he is based.
“He is a transformational leader with deep knowledge of the lab-grown diamond category,” said Lightbox CEO Antoine Borde.
Prior to joining Lightbox, O’Grady spent his two-decade professional career at Element Six, De Beers’ industrial super-materials and synthetic-diamond business. He served in a series of general management and senior project roles in South Africa, China and the UK. In 2019, he oversaw the design and construction of Lightbox’s $94 million manufacturing lab in Gresham, which opened in October 2020.
As of 2021 the laboratory-grown diamond trade market was estimated to be worth around $1.9 billion, according to a report by Frost & Sullivan.
This market is expected to grow significantly in the coming years, with some estimates suggesting that it could reach a value of over $15 billion by 2035.
laboratory-grown diamond trade has been growing steadily in recent years. There are several factors driving this growth.
Price: Laboratory-grown diamonds are typically less expensive than natural diamonds, which makes them an attractive option for consumers who are looking for high-quality jewelry at a more affordable price.
Ethical concerns: Some consumers are hesitant to purchase natural diamonds due to concerns about ethical issues such as conflict diamonds. Laboratory-grown diamonds are considered to be a more ethical alternative, as they are produced in a controlled environment and do not have the same potential ethical issues as natural diamonds.
Environmental concerns: The process of mining natural diamonds can have a significant environmental impact. Laboratory-grown diamonds are generally considered to be more environmentally friendly, as they do not require mining.
Advancements in technology: The technology used to produce laboratory-grown diamonds has improved significantly in recent years, making it easier and more cost-effective to produce high-quality diamonds. All of these factors have contributed to the growth of the laboratory-grown diamond trade, and it is expected to continue to grow in the coming years.
The answer is not yet: It is worth noting that natural diamonds still hold a significant share of the diamond market, and it remains to be seen how much of an impact laboratory-grown diamonds will have on the industry as a whole over the next decade.
