December 2023 | Lab Grown Magazine

December 2023 | The Lab Grown Diamond Resource Book 12 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | December 2023 13 36 WEST 44th STREET, SUITE #1103, NEW YORK, NY 10036 Tel.: 212 768 3200 Ext 108. Toll Free: 800-622-WAVE(9283) Ext 108 Fax: 212 768 3322 Email: info@gemwave.com / harshil@gemwave.com Celebrating 28 Years In Business DISCLAIMER: Lab Grown Magazine assumes no responsibility for content, articles, or advertisement in publication. All rights reserved. Reproduction in whole or in part in any form without prior written permission of the publisher is prohibited. The publisher reserves the right to edit all articles for clarity space and editorial sensitivities. Publisher Zev Oster Manager David Oster Features Writer Dan Scott Graphics / Production Kim Kennelly LabGrownAds@gmail.com Advertising & Sales LabGrownMagazine@gmail.com Circulation 24,000 Magazines Printed &Mailed Monthly Distributed at Show Bins PO Box 683 Pomona, NY 10970 T: 888-832-1109 F: 212-257-7056 www.LabGrownMagazine.com Find us on A division of Zev Great Gratitude At the close of each year, we, like many of our readers, reflect on the past eleven months. We think of the various challenges, how we overcame them, or how we are currently jumping those hurdles. This year, we’ve each celebrated success from a continuous uplift in lab-grown diamond (LGD) demand. While LGD prices continue to lower, interest and sales continue to increase. Noting a 3-carat lab stone’s retail price dropped from the first quarter of 2021 ($20,565) to Q1 of 2023 ($9,305), with The Art of Jewels retailing a 3-carat F-VS2 at $2,031 currently. And, at press time, a 3.01-carat F-VS2 is wholesaling at $744 from AMIPI, Inc. Yet, lowered LGD prices haven’t kept major design houses out of the game. This year, LVMH’s Fred and Antwerp-based diamond legend, Baunat launched LGD designs. Baunat’s Valquère line is leveraging the parent company’s growth as Europe’s leading online jeweler. The Israeli Diamond Industry reported LGD’s worldwide value was $19.3 billion 2020. Future sales projections vary, yet all reports scale north predicting $34.3 billion by 2027 and $49.9 billion by 2030. In November, Smit Patel, director of India’s Greenlab Diamonds revealed that all of their stock was purchased by retailers. He said, “I am left with no stock of LGD.” Greenlab is self-professed to be the “largest cultivator of diamonds in the world.” Still leading in engagement ring sales, natural diamonds have some impressive numbers of their own, even 2023’s nose-dive prices. A 3-carat natural diamond has dropped -15.2% in value (year-on-year, August 1, 2022 to August 1, 2023) but newfound natural diamond digs offer other digits - massive in their own right. In August, the Lucara diamond was discovered weighing 1,080.1 carats. A 692.3-carat, was unearthed in the same month, both from South Lobe region of Botswana, and both Type IIa. A 390.7-carat diamond was mined from Alrosa, be it inhibited by a US sales ban and an upcoming European G7 verdict to ban Russian diamonds worldwide. Those sanctions benefited The De Beers Group greatly in 2023. The natural mining group increased production to 34.6 million carats, which is not only the highest volume for the producer this year, it also placed them close to maximum capacity. Whichever diamond path you may lean, Dan Scott offers a host of holiday suggestions to entice increased diamond store sales. In this issue of Carbon , Dan offers research into the most successful window treatments, in-store props/staging, high-traffic diamond retail events, and ideas to excite the senses while elevating your sales this season and into 2024. From all of us at LabGrown Magazine and Diamond Pulse to you and yours, have the happiest of holidays!