GIA Dunks on Lab Diamonds

[freddyboston]

Ironic.... Indian retailers/consumers don't like/buy Lab Diamonds.... it's like a chef who won't eat what he's cooking..... (no wonder De Beers plans to open 100 Forevermark stores in India by 2030)

Titan has been staunch in its stance on natural diamonds, noting that the Indian market had little interest in lab-grown. However, even though the US market is more open to synthetics, Singh said the jeweler had no intention of including them in its North American offering.

Titan’s Tanishq ‘Bullish’ on US Expansion, but Lab-Grown Still off the Table

Titan-owned jeweler Tanishq has plans for a large-scale expansion across North America, setting its sights on the vast Indian diaspora market.

rapaport.com

 

[AllAboardTheBlingTrain]

Ironic.... Indian retailers/consumers don't like/buy Lab Diamonds.... it's like a chef who won't eat what he's cooking..... (no wonder De Beers plans to open 100 Forevermark stores in India by 2030)

Titan has been staunch in its stance on natural diamonds, noting that the Indian market had little interest in lab-grown. However, even though the US market is more open to synthetics, Singh said the jeweler had no intention of including them in its North American offering.

Titan’s Tanishq ‘Bullish’ on US Expansion, but Lab-Grown Still off the Table

Titan-owned jeweler Tanishq has plans for a large-scale expansion across North America, setting its sights on the vast Indian diaspora market.

rapaport.com

Yeah as an Indian I can attest to that - the attitude that I see towards labs here is very much a “only buy them if you can’t afford the real deal” thing. A lot of young couples without too much disposable income would rather buy a smaller natural than a bigger lab; and a lot of the sale of labs that does happen is marketed as costume/travel jewellery or people buy labs but claim that they are natural and that they would never buy labs, no sirree. It’s not like there isn’t a market, of course there is, but it’s considered the less desirable alternative for sure.

 

[Texas Leaguer]

So are you going to stop selling LGDs any time soon?

As long as our customers are wanting labs, we will do our best to accomodate them. I don't see that changing much in the short term.

 

[Texas Leaguer]

Ironic.... Indian retailers/consumers don't like/buy Lab Diamonds.... it's like a chef who won't eat what he's cooking..... (no wonder De Beers plans to open 100 Forevermark stores in India by 2030)

Titan has been staunch in its stance on natural diamonds, noting that the Indian market had little interest in lab-grown. However, even though the US market is more open to synthetics, Singh said the jeweler had no intention of including them in its North American offering.

Titan’s Tanishq ‘Bullish’ on US Expansion, but Lab-Grown Still off the Table

Titan-owned jeweler Tanishq has plans for a large-scale expansion across North America, setting its sights on the vast Indian diaspora market.

rapaport.com

It's refreshing to see someone in the natural diamond industry using the term "bullish"

My experience in the business informs me that we go through cycles. Perhaps we are approaching a turning point. We could be looking at the best buyers' market in recent memory. Of course you only know these things in retrospect!

 

[Chelsea Palmer]

Might these just be marketing gimmicks?https://thedailyguardian.com/others...ustainable-style-with-lab-grown-diamonds/amp/

Samaira Sandhu Becomes The World’s First Celebrity Brand Ambassador For A Lab-Grown Diamond Brand

Actress Samaira Sandhu has made history by becoming the first-ever celebrity—Indian or international—to be appointed as the brand ambassador for a lab-grown diamond company. This groundbreaking move marks a significant moment for the sustainable luxury industry, reinforcing the growing global...

www.filmibeat.com

 

[freddyboston]

Might these just be marketing gimmicks?

Exactly... (author is the CEO of Solitario)
I love the buzzwords....

sustainability.
responsible luxury
ethical sourcing and eco-friendly choices
ethical and environmentally friendly alternatives.
ethical fashion
lab-grown diamonds.... the new symbol of luxury and conscientious living

 

[Garry H (Cut Nut)]

It's refreshing to see someone in the natural diamond industry using the term "bullish"

My experience in the business informs me that we go through cycles. Perhaps we are approaching a turning point. We could be looking at the best buyers' market in recent memory. Of course you only know these things in retrospect!

I keep saying this loudly - the top 20% economic quintile buy more than 80% of natural diamonds. Always did and always will.
Lab diamonds are a wonderful new entry point for the 5% of those who will progress into that top quintile and become natural diamond buyers in the future.
The two types of diamond are a 'natural' fit (punny).
All three of the big international auctions over the past few weeks - the diamonds blitzed the suggested ranges.

Large Stones Lead $16M TAGS and Sodiam Tender

Trans Atlantic Gem Sales and Angola’s Sodiam sold more than $15.5 million worth of large rough diamonds at their recent tender in Luanda.

rapaport.com

 

[Chelsea Palmer]

I keep saying this loudly - the top 20% economic quintile buy more than 80% of natural diamonds. Always did and always will.
Lab diamonds are a wonderful new entry point for the 5% of those who will progress into that top quintile and become natural diamond buyers in the future.
The two types of diamond are a 'natural' fit (punny).
All three of the big international auctions over the past few weeks - the diamonds blitzed the suggested ranges.

Large Stones Lead $16M TAGS and Sodiam Tender

Trans Atlantic Gem Sales and Angola’s Sodiam sold more than $15.5 million worth of large rough diamonds at their recent tender in Luanda.

rapaport.com

Dear Garry H.,

When you refer to the top 20% buying 80% of natural diamonds, does that include the generally-subpar diamonds sold in mall jewelry stores? Or are they purchasing 80% of gem-quality diamonds? Asking out of curiosity only. Thank you.

 

[Garry H (Cut Nut)]

Dear Garry H.,

When you refer to the top 20% buying 80% of natural diamonds, does that include the generally-subpar diamonds sold in mall jewelry stores? Or are they purchasing 80% of gem-quality diamonds? Asking out of curiosity only. Thank you.

By value CP. By $ value.
What they were buying in Mauls largely came from the Argyle diamond mine in Australia over the past 4 decades. Average price per carat of that rough was between $6 and $12 per carat - cheaper and much harder to polish than LGD rough today.

Natural diamonds of twice the carat weight cost FOUR times more.
LGD of twice the carat weight cost 10% less per carat.

 

[Chelsea Palmer]

By value CP. By $ value.
What they were buying in Mauls largely came from the Argyle diamond mine in Australia over the past 4 decades. Average price per carat of that rough was between $6 and $12 per carat - cheaper and much harder to polish than LGD rough today.

Natural diamonds of twice the carat weight cost FOUR times more.
LGD of twice the carat weight cost 10% less per carat.

Thank you, Garry H.

 

[Garry H (Cut Nut)]

From Rapapot News: JCK Las Vegas reflected healthy American consumer demand but a mixed wholesale market. The Luxury show, which focuses on high-end jewelry, was strong. So were orders for 2-carat and larger diamonds at JCK, though demand was weak for rounds under 1.20 carats. Fewer overseas exhibitors attended than usual

 

[AllAboardTheBlingTrain]

Might these just be marketing gimmicks?https://thedailyguardian.com/others...ustainable-style-with-lab-grown-diamonds/amp/

Samaira Sandhu Becomes The World’s First Celebrity Brand Ambassador For A Lab-Grown Diamond Brand

Actress Samaira Sandhu has made history by becoming the first-ever celebrity—Indian or international—to be appointed as the brand ambassador for a lab-grown diamond company. This groundbreaking move marks a significant moment for the sustainable luxury industry, reinforcing the growing global...

www.filmibeat.com

Vivek Oberoi owns Solitario, so I can imagine that he wears and promotes labs (his acting career went nowhere but I believe he has been a successful businessman) but I’ve never heard of any of the other celebs in that first article wearing lab grown diamonds except for in that article (or other similarly vague ones by LGD brands). Maybe they wear them, but they certainly don’t promote them. Also some of these types of promo articles will claim anything - like one article I saw said something about Alia Bhatt’s engagement ring being a lab. Source? Another LGD company saying they could make you a lab version of her natural ering. It’s just AI garbage.

I learned there was an actress named Samaira Sandhu only upon reading this article lol and her face is still entirely unknown to me as is her acting career even upon googling (never heard of any of those movies and when you google the name you get a makeup artist before you get the actress). No shade to her, it just struck me as funny that the article made her sound like some mega famous celeb.

 

[Texas Leaguer]

I keep saying this loudly - the top 20% economic quintile buy more than 80% of natural diamonds. Always did and always will.
Lab diamonds are a wonderful new entry point for the 5% of those who will progress into that top quintile and become natural diamond buyers in the future.
The two types of diamond are a 'natural' fit (punny).
All three of the big international auctions over the past few weeks - the diamonds blitzed the suggested ranges.

Large Stones Lead $16M TAGS and Sodiam Tender

Trans Atlantic Gem Sales and Angola’s Sodiam sold more than $15.5 million worth of large rough diamonds at their recent tender in Luanda.

rapaport.com

Garry,
It can be argued that the market for jumbo stones does not reflect the diamond market as a whole. But things do seem to be breaking for mainstream diamonds as well. We have recently been advised that Indian manufactures have raised prices on nice quality mainstream sizes by 5-7%.

Can you add anything to that Garry? Do you think the overall diamond market found a true bottom in the last month?

 

[Garry H (Cut Nut)]

Garry,
It can be argued that the market for jumbo stones does not reflect the diamond market as a whole. But things do seem to be breaking for mainstream diamonds as well. We have recently been advised that Indian manufactures have raised prices on nice quality mainstream sizes by 5-7%.

Can you add anything to that Garry? Do you think the overall diamond market found a true bottom in the last month?

I have not heard that Bryan, and I am in some big WhatsApp groups.
I know they hate Rapaport.
Every week for a month or more there has been a mine closure or bankruptcy, so supply is diminishing as I predicted 5 years ago at the start of lab diamonds and COVID.
So there will be a bottom but now? Next year?
And will the Chinese stop buying gold and like diamonds again?