June 2025 | Lab Grown Magazine

June 2025 | The Lab Grown Diamond Resource Book 28 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | June 2025 29 While IGI previously used the words "LAB GROWN" on the girdle, they now primarily use a microscopic laser-inscribed ID number, In 2023 a short lived process surrounded all graded LGDs through the current king of LGD identification, IGI, displaying clear “lab-grown” proof of identity. Within the same year, IGI changed its LGD inscriptions to an “LG” abbreviation keeping their grading report number inscription as a cross-reference to printed reports. Images: The Gem Academy Unregulated Non-Profit Groups Most are unaware of a dynamic group with deep pockets, namely the Watch and Jewelry Initiative (WJI 2030). Their mission is “to develop joint so- lutions that create positive outcomes for people and planet…” They wish to tackle the diamond and precious metal eco-friendly front. At 72 ma- jor members, these are multi-billion dollar brands but regardless, no government officials sit on their board. To learn about their governance, read their 2024-3025 report at: https://tinyurl.com/WJI-2030 Regulating Quantity and Price When we speak of regulation, we don’t mirror other major professions enforcing laws govern- ing market quality, penetration or price to our in- dustry. Bottom line: Others do, we don’t. Take the transportation industry - specifically the New York City Taxi and Limousine Commission (NY TLC). Over 200,000 TLC licensees com- plete about 1,000,000 trips each day. The New York City government runs this regula- tory group, the medallion taxis and for-hire ve- hicles like Uber and Lyft. The medallion system is a government-created supply constraint on the number of taxicabs hitting the roads. Dare to Compare Regulation affects market value and price. The NY TLC recently increased rider fares and Uber/ Lyft per-trip driver pay. Now, every cab upped its base fare, increase their flat airport rates and a rush hour surcharge is now the law. App services cost more too now.