August 2018

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SPECTRUM – Diamond Industry News #24

This edition of Spectrum diamond news and trends is a fascinating roundup that takes us deep into the debate about lab grown and mined diamonds, then 750 kilometers beneath the earth to where blue diamonds form. From there we travel into the minds of millennial consumers, with a recent study about their jewelry buying habits. And we finish off with an amusing viral video that rocked the diamond industry this week – an unusual episode where an ant was caught taking off with a diamond! It has to be seen to be believed, so don’t wait – dive into this month’s diamond news and industry tidbits in our latest Spectrum blog post.

A Defining Moment for Lab-Grown Diamonds

By Joshua Freedman @Rapaport

The Federal Trade Commission is attempting to put some order into the question of what is a diamond, with an amendment to the very definition of ‘diamond’. In fact, the change involved was the removal of the word ‘natural’. So how much of a difference does it really make, and what impact will it have on the industry as a whole? According to Rapaport’s Joshua Freedman, the change is largely “academic”, yet also carries significant symbolic weight. It’s the next intriguing instalment in the lab grown vs. mined diamond debate.

In a first, scientists precisely measure how synthetic diamonds grow

By Glennda Chiu @PhysOrg

Official changes to the FTC definition of diamonds notwithstanding, there is still much wonder and curiosity surrounding lab grown diamonds. Are they really the same as natural diamonds? How is it possible? How are lab grown diamonds actually formed? All the answers have now been revealed, when scientists at Stanford University studied the formation of diamondoids, the tiniest pieces of diamonds that, in their smallest form, contain just 10 carbon atoms. Read the article at Physorg.com to find out why the scientists involved in the experiments say that “this is really fundamental research.”

Manufactured diamonds will be to mined diamonds what Tudor is to Rolex

By Jay Solomon @The Times of Israel

And the lab grown diamond discussion goes on and on…

The impact that lab grown diamonds will have on the industry is far from clear, and remains a subject of hot debate. This interesting piece, featured in the Times of Israel, a publication based in one of the world’s traditional diamond centers, gives an original perspective. The author, Jay Solomon, is not convinced that lab grown diamonds will replace mined diamonds at all. Rather, they will take the place alongside them as a comparable, quality alternative that is more affordable, yet not quite at the same level of luxury – or, as he put it, like a Tudor watch, rather than a Rolex.

Super-rare diamonds form at extreme depth

By Ben Lewis @Cosmos magazine

As interesting as lab grown diamonds are, there is nothing so fascinating as a new scientific discovery about natural mined diamonds. And here’s one that is truly amazing: scientists have recently found out that the very rarest, blue colored diamonds are formed 4 times deeper in the earth than white or other diamonds. That means they form an astonishing 750 kilometers beneath the earth’s surface. However, the blue hue is caused by boron, which is usually found closer to the surface – so how did these blue diamonds get buried so deep? Read the article in Cosmos magazine to get to the bottom of it all!

Study on Millennials Reveals Favorite Jewelry Brands, Attitudes on Lab-Growns

By Emili Vesilind @JCK Online

The debate between mined and lab grown diamonds rages on, but let’s not forget about the end consumer, who is actually the one buying diamonds and jewelry. And of course, as millennials get older, they are becoming the largest consumer segment in jewelry purchases. So we loved this article in JCK Online that explores a study of 1000 millenials to determine their jewelry buying habits. Earrings are the most popular jewelry piece, while over half of respondents say they buy jewelry for themselves. And our favorite part? Diamond jewelry was found to be the most popular style of jewelry, followed by jewelry with colored gemstones.

Diamond-stealing ant caught red handed

By New York Post

Okay, with all the serious debate going on about the future of the industry, sometimes it’s fun to focus on the lighter side of diamonds. And this video certainly does it. Recently, a video went viral of an ant (yes, an ant!) in a jewelry store taking off with a large diamond! It’s a truly wonderful sight, and quite hard to believe if you don’t see it for yourself! So check out the video, and watch why millions of people around the world were having a laugh over an ant and a diamond.

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