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synthetic diamonds legal market


Post Date: 16 May 2011    Viewed: 469

Three major international organizations – the World Jewellery Confederation (CIBJO), International Diamond Manufacturers Association (IDMA) and World Federation of Diamond Bourses (WFDB) - issued a joint statement on the market status of synthetic diamonds, the Joint Statement on Lab-Grown Diamonds. This can be considered the beginning of a legal market for synthetic diamonds.


In the first place, the statement produced a more precisely defined terminology: gem-quality diamonds created in a laboratory or factory can be described as “synthetic,” “laboratory-grown,” “laboratory-created,” or “man-made,” and the descriptor must always be followed by the word “diamond” or “diamonds.” Under no circumstances can the term "cultured" be used to describe gem-quality synthetic diamonds. It is noteworthy that CIBJO's Diamond Blue Book only allows the descriptor "synthetic" to describe gem-quality synthetic diamonds.


It is important to emphasize that natural rough diamonds and polished diamonds subjected to technological enhancement, are neither truly natural nor artificial. Thus, there are three commercial varieties of diamonds legalized at the international level: 1) natural, 2) treated and 3) synthetic.


There is no legal market of synthetic diamonds in Russia. However, experts point to single cases of synthetic diamonds being circulated in the Russian Federation, loose and set in jewellery pieces. The price level is the same as for good natural diamonds - a few thousand dollars per carat.


Yuri Shelementiev, deputy head of the Moscow State University’s Gemological Center, says: "Currently, the theme of synthetic diamonds has abated. I assume that investments in setting up production facilities abroad have not paid off because end users are not very eager to buy synthetic diamonds. After all, these diamonds are generally not colourless and they are different from natural even in their outward appearance."


A similar opinion is shared by Ararat Evoyan, First Vice President of the Association of Russian Diamond Manufacturers: "As far as I know, there is no legal market of synthetic diamonds in the Russian Federation. I think their future will be the same as it was in the past century with rubies, sapphires and emeralds: every gem will have its own buyer, as well as its own criminal aspect."


It can be concluded that so far synthetic diamonds in this country are circulating in the "black" and "gray" market sectors. Apparently, they are not quite successful in price competition with cheap diamond imitations - rhinestones and cubic zirkonia. Another explanation for the failure to develop a legal market of synthetic diamonds may be the mental aversion felt by the Russians towards any fakes, be it counterfeit vodka, or silicone implants; if they are used, they are used because of poverty and with shame.


However, the legal market of synthetic diamonds has already taken shape abroad. The largest producer of synthetics is Gemesis, an American company, which, according to its own statements, is churning out tens of thousands of synthetic diamonds per year. Incidentally, its factory uses Russian technology, BARS, developed in Akademgorodok, Novosibirsk; Russian production engineers, as for instance Boris Felgenson, were seen there during the construction and commissioning stages.


There are also small manufacturing companies in the United States, such as Chatham Created Gems & Diamonds and Apollo Diamond. More than ten jewelry designers are known to have worked with synthetics. For example, Renaissance Diamonds offers a line of jewelry called “Astounding” featuring pink and blue colored synthetic diamonds. In advertising such products the stress is made on... environmentally friendly created diamonds which is in no way confirmed by a comparative technical and technological analysis.


The Internet happens to be the main sales channel for synthetic diamonds. About a dozen of firms are active in this field. Thus, DiamondsCultured.com is specialized in synthetic diamonds and jewelry graced with such gems based on the goods provided by Gemesis and Chatham. The firm takes 10 days to deliver the following kinds of synthetic gems: pink and blue diamonds, up to 0.75 carats, and yellow diamonds, up to 1.5 carats. D. NEA posts sale prices for diamonds 0.5 carats in size: blue gems at about $3,000, white at $2,000, yellow at $1,500 and orange at about $1,000. Incidentally, in its advertising campaign the firm promotes the idea of "non-conflict diamonds" as opposed to natural diamonds, whose “non-conflict origin” is to be proved within the frames of the Kimberley Process.


There are no global statistics available on synthetic diamonds. However, it seems that all the legal turnover of synthetic diamonds is concentrated in the U.S., probably due to a massive sympathy for technological progress or because of law-abiding businesspersons.


In general, the future of the synthetic diamond market is unclear. Vladimir Zboykov, CEO of Elgem, is sure that in China production of synthetic diamonds "will grow like mushrooms after rain, and not all of their goods will then be spread in the market just as synthetics. Valery Morozov, General Manager of Ruiz Diamond, believes that "the threat of synthetics for the natural diamond market has been exaggerated. It is not the first year we hear these concerns voiced. However, despite the progress in synthetics technology, such stones are not widely used in jewelry consumption. I think if we take care to introduce affordable, mass-consumption devices to determine synthetic diamonds, this problem will become non-existent."


Thus, it can be assumed that in the near future neither legal nor criminal synthetic diamonds will be able to attract more than 1% of the global diamond jewelry market. The world has made significant progress in research and development in the field of carbon materials, such as nanodiamonds, fullerenes, carbon nanotubes, and graphene. The latter material - a single sheet of carbon atoms – generated a Nobel Prize in Chemistry this year. Diamond as a form of carbon is no longer any mystery for scientists and engineers. However, so far a technical breakthrough able to trigger off a serial “bulk” production of synthetic diamonds of reasonable price and good quality at levels comparable with natural diamond output appears to be impossible.


 


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