New York, NY — August 5, 2019 — Not all diamonds are alike, and these days, it seems, not all retailers. In direct competition with those seeking higher profit margins by selling lesser-quality, manufactured diamonds, SuperJewler.com, a leading online jewelry retailer, remains strongly committed to selling its customers only real diamonds.
SuperJeweler.com is firmly opposed to lab-grown diamonds for
many reasons — number one, they’re not real. They may share the same chemical
properties as earth-mined diamonds, but their crystal structure is different.
As a result, they don’t hold up over time like the real thing.
“Not even close,” says SuperJeweler.com Chief Executive Officer Andrew Fox. “Laboratory grown diamonds are nothing more than a tech product, and tech products always fall in value. Remember when De Beers famously said that a diamond is forever? Well, they didn’t mean synthetic ones.”
According to both Reuters and the South China Morning Post, over the last two years, the value of laboratory grown diamonds has fallen by as much as 80%. Even worse news for buyers is that the value of fake diamonds is projected to fall yet another 80% in as little as one more year, rendering them completely worthless. As production methods speed up, the quantity for sale is anticipated to explode, and their value plummet further.
“Diamonds are anything but a short-term purchase,” Mr. Fox believes. They are bought on the assumption that they’ll last for the life of the wearer, maybe even becoming a family heirloom. Sellers of lab-grown diamonds are therefore grossly misrepresenting their products. They’re increasing their profit margins while ripping off customers.”
SuperJeweler.com isn’t the only voice decrying the sale of synthetic diamonds as deceitful, and ultimately, harmful to the industry. Martin Rappaport, in Synthetic Ethics, which appeared on Diamonds.net, wrote that, “Sadly, we have an industry that is cashing in on the reputation of natural diamonds.”
He continued that, “We are destroying the long-term reputation of diamonds as a store of value for short-term synthetic profits. It’s shocking to see so many in our industry willing to take consumers for a ride without disclosing the likely price decline of expensive synthetic diamonds.”
Many justify the sale of synthetic diamonds by hailing them as an ethical alternative to so-called “blood diamonds.” But in actuality, the unethical lab-grown diamond marketers are the ones wreaking havoc on people’s lives. Traditional diamond mining has been the economic lifeblood of many of the world’s poorest regions. The shift away from earth-mined diamonds has taken desperately needed jobs and investment away from laborers for whom there is no other industry to turn to. Entire communities are being impacted.
At the same time, modern mining practices are having a significant economic and even social impact in such areas, as was supported by the findings of “The Socioeconomic and Environmental Impact of Large-Scale Diamond Mining,” the first-ever comprehensive report on the realities and state of modern diamond mining, conducted by Trucost ESG Analysis, a part of S&P Global.
As featured on Bloomberg.com, the report not only finds that “Diamond Producing Association (DPA) Members generate more than US$16 billion in net socioeconomic and environmental benefits through their diamond mining operations” but also that “the vast majority of these benefits are infused into communities through local employment, sourcing of goods and services, taxes and royalties, social programs and infrastructure investment.”
Also according to Bloomberg.com, “The report also uncovers that DPA Members pay employees and contractors on average 66% above national average salaries and that companies focus extensively on employee training to ensure a highly-skilled workforce.”
Mr. Fox explains his decision to never sell lab-grown diamonds this way: “Our name says what we stand for. We are jewelers, and no self-respecting jeweler would sell fake diamonds.” “It’s kind of ridiculous.” he continued, “Natural, earth-mined diamonds come from the ground and are 999 million years old. They are rare. They have a mystique. They are special, and for all those reasons, we will continue to sell them, and sell only them.”
SuperJeweler.com is the market leader online in diamond jewelry, gemstone jewelry and gold products. In business online since 1999, with over 1 million positive reviews and millions of customer served, SuperJeweler is the one of, if not the, oldest online jewelry companies. SuperJeweler has global buying power and provides manufacturer-direct pricing, and features a Lifetime Warranty and 60-Day Money-Back Guarantee. Headquartered near the diamond district in New York City, with personnel in China, Sri Lanka, India and around the US, SuperJeweler is here to serve customers 24 hours a day, 7 days a week.
search Martin Rapaport and lab grown diamonds.
speech regarding the natural diamond industry: