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News

  1. Pandora Unveils First Ever Art Collaboration - Keith Haring X Pandora
  2. Further Growth in Hong Kong’s Luxury Retail Sales
  3. Pandora Unveils First Ever Art Collaboration - Keith Haring X Pandora
  4. Further Growth in Hong Kong’s Luxury Retail Sales
  5. Platinum Jewellery Sales Rise in Key Markets in Q2 2022, PGI says
  6. AGTA Announces New Board Members
  7. Fura Gems Discovers 101-carat Ruby
  8. Lightbox Sells Lower-Quality Lab-Grown Diamonds
  9. 160-Carat Rough Unearthed from Angola Mine
  10. GIA Found Synthetics, Simulant among Four ‘Natural’ Sapphires
  11. ‘De Beers Blue' Might Originate from Deep Earth, Says GIA
  12. New Chairman Elected at India’s GJEPC
  13. Tiffany Launches Its First All Gender Bangle Collection
  14. Pandora Launches Lab-grown Diamond Jewellery Collection in North America
  15. Gemfields Reports Record Revenues
  16. IIJS Premiere Sees Record Number Visitors
  17. Signet Acquires Blue Nile for $360M
  18. Hong Kong jewellery sales slide in H1
  19. Fancy Colour Diamond Price Index Rises
  20. The Potentially Largest Pink Diamond Found in 300 Years
  21. Kering Reports Strong First Half Jewellery Sale
  22. Vicenzaoro Back In September
  23. eBay Offers Fine Jewellery Authentication with GIA Partnership
  24. New Executive Director and Secretary General Appointed for Watch & Jewellery Initiative 2030
  25. VO Vintage Returns To Vicenzaoro September
  26. Sarine Partners With NGTC on Grading Reports In China
  27. Diamond Prices Slide Amid Economic Uncertainty
  28. De Beers, Botswana Sales Agreement Extended
  29. AWDC Appoints David Gotlib As New President
  30. IGI Debuts Online Learning Courses
  31. Swarovski Appoints First Non-Family CEO
  32. Kashmir Sapphire Ring Comes Out on Top at Bonhams
  33. WJA Foundation Launches New Scholarship for Women of Colour
  34. Blue Nile Merges with Mudrick for Its Second IPO
  35. RJC Launches ‘Gender Equality Toolkit’ at JCK Las Vegas
  36. GIA Reports to Go Digital by 2025
  37. Gemfields Achieved Highest Revenue at Emerald Auction
  38. DAMAC Group Now Owns de GRISOGONO
  39. GJEPC Proposes Lab-Grown Diamond Park in India
  40. Pandora’s New Crafting Facility in Vietnam Costs $100M
  41. Q1 Gold Jewellery Demand Soft, Says WGC
  42. Jewellery Buying Groups Formed New Global Alliance
  43. Singapore to Host Jewellery & Gem World 2022
  44. ‘Wonder Woman’ Gal Gadot Premiered in Tiffany’s 2022 High Jewellery Collection
  45. Christie’s to Auction ‘The Light of Africa’ for $18M in June
  46. New Board of Directors were elected to Jewellery Exporters Association of Turkey
  47. Oroarezzo back with Première Competition
  48. ‘De Beers Blue’ auctions US$57.5M at Sotheby’s
  49. CTF launches Mother’s Day collection
  50. Jewelers of America Announces The 2022 CASE Award Winners
  51. De Beers: Diamond Businesses Staying Cautious About Business Expectations
  52. Synthetic Alexandrite Pioneer David Patterson Dies at 89
  53. 205 CARAT FANCY INTENSE YELLOW DIAMOND GENEVA MAGNIFICENT JEWELS | 11 MAY 2022
  54. Rebecca Foerster Appointed As President of Hearts On Fire
  55. US Steps Up Sanctions Against Alrosa
  56. PGI Study Findings: Consumers Have Different Interpretations of Sustainability
  57. Irving Wong Appointed as Pandora’s General Manager For China
  58. Rolex’s 6 New Watches Unveiled at Watches & Wonders Geneva
  59. Sixième Sens par Cartier High Jewellery: Heteractis Ring
  60. Will Russian Diamond Ban Help Foster Lab-Grown Diamond Business?
  61. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  62. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  63. JEWELLERY GENEVA Takes Place between 30 March and 3 April 2022
  64. Christie’s Presents 228 carat White Dimond
  65. Gold Bar Integrity Programme to be Implemented
  66. Press Release: BONHAMS ANNOUNCES ACQUISITION OF BRUUN RASMUSSEN AUCTIONEERS – DENMARK’S LEADING AUCT
  67. Early Spring Fashion for Natural Diamonds
  68. Jennifer Garner Shines in De Beers Jewellers at the Premiere in New York
  69. To celebrate its 15th anniversary, “Cartier Women’s Initiative Impact Report”
  70. American Gem Trade Association Announces Partnership with JCK Show Again
  71. Chow Tai Fook and Canada's Mountain Province Diamonds Sign Supply Agreement
  72. Registration Is Open for 2022 JCK Show
  73. Alrosa Caught Up in U.S. Sanctions
  74. Tawhid Abdullah Receives Lifetime Achievement Award
  75. The Largest Blue Diamond Appears at Sotheby’s Auction
  76. Price Rise for Nearly 90% Of Fancy Colour Last Year
  77. Dickson Yewn’s Collectibles Given for Sotheby’s Charity Auction
  78. De Beers Boosts Production
  79. Watches & Wonders Geneva To Be Held In Hybrid Format
  80. Jewellery, Gem & Technology Dubai to Debut February
  81. Hong Kong Losing its Dominance as the World's Largest Watch Market
  82. Gift Guide for CNY
  83. Press Release: Sotheby’s Announces New Appointments To Luxury Team In ASsia
  84. Georg Jensen Becomes a Certified Member of RJC
  85. 555.55-carat Black Dimond Unveiled at Sotheby’s Auction
  86. GIA Appoints Anna Martin as SVP for Institute, Industry Relations
  87. Alrosa Boosts Direct Sales of Fancy Diamonds to Investors
  88. CIBJO General Assembly postponed to March 17 and 18, 2022
  89. 7,525 Carat Emerald Discovered
  90. Karl Lagerfeld Jewellery Collections to Shine
  91. Diamonds Travel To The Space
  92. Vicenzaoro January postponed to March
  93. America’s Youngest Jeweller Starts Business via Instagram
  94. Concerns over conflict gold arise again
  95. The 1st International Gemstone & Diamond Trade Summit Wraps Up in Macao
  96. The Knot’s Study:Over 30% of Respondents Say Natural Diamond Unimportant
  97. Pantone’s 2022 Colour of the Year: Very Peri
  98. Phillips Jewellery Auctions Fetch over HK$181 Million
  99. The World’s First Pure Gold Castle of Magical Dreams by CHOW TAI FOOK
  100. Jewellery Sales Jumped 78% During the Thanksgiving Holiday
  101. Gem Auctions DMCC’s Debut Auction Successful
  102. Cartier’s Christmas Tree Lights Up the City with Love and Hope
  103. Rediscovering Lacloche in Hong Kong
  104. Blue diamonds to lead Christie’s HK autumn sale
  105. JMA show to stage next Thursday
  106. HK auction to help Cambodian kids
  107. Basel fair cancelled again
  108. HKDI show to continue in Dec
  109. Gemfields sells 7,500-carat emerald for good
  110. Sustainability is key to diamond purchases, a report says
  111. Christie’s Geneva jewellery sale fetches CHF53.7m
  112. Cibjo forms working group on fei cui standards
  113. Only Watch raises CHF30m for DMD research
Read More...


HIGHLIGHT

  1. US market unfolds changes and potential
  2. The queen of gems, the gem of queens
  3. Classics return

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  • Diamond growing seeds at Element Six, synthetic diamond production company of De Beers
  • 88 synthetic diamonds supplied by Ada Diamonds form the infinity symbol underneath a clock mounted on the Rolls-Royce Adamas’dashboard
  • Fashion pendant by Chatham Created Gems & Diamonds
  • Bridal ring by Chatham Created Gems & Diamonds
  • Vintage Engagement Ring by MiaDonna
  • Advertisement of MiaDonna’s ethical diamond engagement Ring

Time will tell the future of synthetics

The world’s largest diamond producer by value De Beers, who supplies over 40 percent of the world’s rough diamonds reversed its decades-old policy of selling natural diamonds for jewellery propose and ventured into the synthetic diamond business by debuting fashion jewellery brand Lightbox Jewelry in May 2018. Its white, pink and blue diamond jewellery weighing from 0.25 to one carat are available at US$800 per carat, with a vision to offer jewellery at an affordable price and enhance the understanding of differences between natural and synthetic diamonds. A total of US$94 million will be invested in the new synthetic diamond production facility in Oregon which is expected to be operational in four years while US$10 billion will be spent in natural diamond business over the coming years. The diamond giant sees natural and synthetic diamonds as “distinct product categories that offer consumers different things”. 

Within a year after the introduction of Lightbox, De Beers announced that the wholesale price of synthetics has fallen by 60 percent. De Beers commented: “As technology develops, manufacturing costs for mass produced items, like LGDs (lab grown diamonds), tends to decrease. We have seen this happen before with flat screen TVs which were very expensive when they first came to the market but are now widely available quite cheaply.” It says the appealing price of synthetic diamond jewellery will not harm the natural diamond market. “Consumers are still choosing to mark their most significant occasions in their lives with natural diamonds, such as engagement, wedding, anniversary and birth of child,” says De Beers’ spokesperson Bianca Ruakere. 

A different story

San Francisco-based Ada Diamonds, who supplies synthetics diamonds for the clock mounted on the dashboard of Rolls-Royce’s Adama collection. The company’s co-founder, Lindsay Reinsmith told Hong Kong Jewellery that the wholesale price of synthetic diamonds from 0.25 to 1.5 carats by month from January 2018 to March 2019 remained steady, unlike the statics shown by De Beers. There was even a jump in the wholesale price due to synthetics shortage.

Tom Chatham, CEO of Chatham Created Gems & Diamonds told Hong Kong Jewellery that De Beers’ announcement of synthetics wholesale price decline before the JCK show was disruptive. Some customers canceled orders after the announcement was made when Chatham failed to meet the US$800 per carat pricing ‘standard’ set by De Beers. However, Lightbox only offered diamond jewellery under one carat back then. He suspected De Beers was selling below cost as the diamond growing equipment is not inexpensive. The price setting for Lightbox has undercut the synthetic diamond jewellery market instead of lower manufacturing costs. 

Beyond fashion

Numerous new players, big or small, have entered the synthetic diamond industry. According to Paul Zimnisky Diamond Analytics, synthetic diamond jewellery market was worth US$1.9 billion in 2018 and is expected to grow 22 percent annually to US$5.2 billion by 2023 and US$14.9 billion by 2035. Morgan Stanley forecasted the annual sales of synthetic diamonds will account for 7.5 percent of the total diamond sales by 2020 from the present less-than-one percent share. 

Distant from the view of De Beers who assumes customers would prefer natural diamonds for non-fashion jewellery and celebrating milestones of their lives to synthetic diamonds, Martin Rapaport, chairman of the Rapaport Group said: “Most of the (synthetic diamond jewellery) producers are not in the fashion jewelry business; they are going after the engagement ring market.” “The most important thing to understand is that wherever and however De Beers promotes and sells synthetic diamonds, they will be competing with natural diamonds,” he added. Amish Shah, president of ALTR Created Diamonds stated that 80 percent of their sales were in the bridal category.

Demand for synthetic diamond bridal jewellery grew in 2017 thanks to the millennials and Generation Z who combined accounted for two-thirds of global diamond jewellery sales. A survey conducted by Berenberg Research interviewed 2,000 female millennials and found that 53 percent would happily accept a synthetic diamond engagement ring - with acceptance ranging from 62 percent in Japan to 56 percent in the United States and 40 percent in China, three of the largest diamond jewellery consumption countries. 

All about values

The younger generations’ preference for jewellery is not just fashion-driven. Their concerns about the provenance and environmental sustainability of the products and the ethical practice of suppliers are known facts. Mined diamonds come with a slew of ethical concerns. It is said that even the most environmental friendly diamond mines are still environmental destructive. In addition to only one in four mines are well regulated while leaving 75 percent of the mines plagued with human rights and environmental abuses. The 2018 Conscious Consumer Spending Index stated that 59 percent of people bought goods or services from a socially responsible company and 32 percent of Americans are planning to spend more on companies that are socially responsible.

Anna-Mieke Anderson, founder of MiaDonna which aspires to offer ethical diamond alternatives that would help free children oppressed by the active conflict diamond mining industry, said environmental impact of synthetic diamonds is seven times lesser than that of traditional mining activities. To go beyond, MiaDonna only uses recycled metals and to offset the emissions caused by shipping. They plant a tree with One Tree Planted for each purchase made. 

Over 80 percent of millennials have a positive opinion of synthetic diamonds once they understand that they share similar chemical and physical properties as natural diamonds but come with no human rights issues and environmental harms. With a retail price of 30 to 70 percent lower than natural diamonds, the synthetic diamond market is seeing a promising future.

Russia's Alrosa, the world's largest diamond miner by volume backs De Beers’ view on synthetic diamonds. The company’s head of strategic projects and analytics Dmitry Amelkin said technological advancement in synthetic diamonds has reduced the production costs succeeded by the retail price, which has gone down by half in two years. Alrosa as a natural diamond giant sees room for a double-digit growth for synthetic diamond jewellery thanks to progressive technology development. The diamantaire further explains price reduction will transform synthetic diamond jewellery into a niche product as fashion jewellery but never a luxury item while natural diamond will stay as a distinctive product category. Synthetic diamond has existed for more than half century with limited influence on the natural diamond market. Both markets can co-exist the same way as natural and synthetic coloured gemstones which have lasted for more than a century without invading either market. Natural diamond jewellery will be the main stream with love and romantic events as the major driver among all traditional emotional moments for its sales. 

A survey by Diamond Producers Association (DPA) pointed out that over 53 million Americans, account for 21 percent plan to purchase a diamond between Thanksgiving and Valentine’s Day. More than seven in 10 interviewees are more likely to buy a natural diamond over synthetics diamond. For the millennials and Generation Z, Alrosa said they saw rosy prospects for natural diamonds because they bring about opportunities for the whole diamond industry and concluded the younger generations focus more on design and the story behind gemstones. 

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