1.07 ct. G color, IF clarity untreated synthetic diamond. A 1.07 ct., G color, IF clarity untreated synthetic diamond.

Synthetic diamonds have been manufactured for over 20 years. In the last few years the technology has improved and larger and better quality goods are being produced.

If one were to remove the natural vs synthetic label, the consumer receives a visually identical product with the same qualities of brilliance and resiliency - but the natural diamond will be roughly 40% more expensive.

Research carried out 10 years ago revealed that the vast majority of consumers would never even consider a synthetic diamond. When the research was repeated approximately two years ago by DeBeers, the demand for synthetic diamonds had dramatically increased. The information relayed back to the trade is that only 52% were adamant they would only purchase a natural diamond (source).

One of the reasons put forward as to why there would be such a massive shift in thinking, is the contentious issues of blood diamonds.

My personal thoughts are that this market will increase and become significant. I see an opportunity for the diamond industry to increase its market share of the luxury segment. In addition it provides a tremendous opportunity for natural diamonds which are undoubtedly becoming harder and more expensive to mine, to increase in not only real value, but perceived value.

The story which can be told about the incredible combination of factors which must be present to create a natural diamond is so compelling, that the diamond industry will be able to continually charge a significant premium on these goods.

The industry is and must continue to work diligently to ensure that diamonds which are synthetic are not passed off as natural. If the consumer is duped, the ramifications for us all will be massive... And not in a good way. Having recently attended a presentation by the GIA in Tokyo addressing the identification of synthetic diamonds, it was stated that all documentation will clearly identify a stone as being synthetic.

A recent article suggests that today synthetic diamonds have captured 1% of India’s of world diamond jewellery market. At this point in time the statistics from other countries are not available. There is no doubt that at the right price and with great marketing the ability of the synthetic stones to capture a significant segment of the diamond market is palatable. It should be noted that DeBeers are currently one of the largest manufacturers of synthetic diamonds in the world today... something to think about!