March 2022 | Lab Grown Magazine

March 2022 | The Lab Grown Diamond Resource Book 24 To advertise call (888) 832-1109 | March 2022 25 n this conclusion story on lab-grown diamond (LGD) worth and value, we’ll summarize key points from Parts 1 and 2. We’ll also offer closing arguments defending LGD value, suggest steps to help your store or brand prepare the best answer that’s best for you, and gain real world knowledge from a legendary gemstone growing guru. Here’s the first summation point: This series wasn’t written to wage war against the natural diamond supply chain. Quite the opposite. The diamond and jewelry industry appears to be moving toward a self-destructive divide. The majorty of professionals from either side have taken staunch, one-sided positions, mined or man-made. If I may suggest, too many are locked in place. Well intentioned support groups from either platform are expected, perhaps even forced by their respective membership base, to protect such lock-down mentalities by figuratively pouring cement into either side. Well, the results are in. Our diamonds vs. diamonds ‘winning elements’ to date include: Supercharged ill will, a growing lack of trust, a highly combative sales environment, misleading, or downright dishonest public relations (surrounding incorrect carbon emissions and sustainability claims) and, one more thing... A low- hanging communication cloud of apathty. To properly address LGD value, we first need to appreciate why many industry professionals would rather refrain from another natural vs. LGD debate. While historically understanable, accepting apathy is also historically damaging for all. THE OPPOSITE OF LOVE “What’s the opposite of ‘love’?” I asked the late (and truly great) Scott Kay during my closing interview to secure the newly created CMO position many moons ago. I recall he paced a bit. Scott Kay knew the answer to this question wasn’t ‘hate.’ Seconds later it hit him. He looked me sqaure in the eye, and with a perfect Hollywood smile he delivered the perfect answer. The opposite of ‘love’ is not ‘hate’. Hate, I’ve learned, is an emotion of love. It’s not a plesant one, but it’s part of ‘love,’ non-the-less. When you hate something that a loved one did or said, you are angry, ‘fit-to-be-tied,’ perhaps, but the fact you are still communicating, be it through practical screams, proves unity is the ultimate, and mutual end goal. The opposite of ‘love’ is apathy; indifference; when you truly don’t care anymore. When boredom supercedes even the most mild of emotional touchpoints, love is indeed lost. Where there is no love, there is no passion. And, we can all agree, passion is our daily motivator. The debate over LGDs worth and value is actually easy to solve. All jewelry (diamond designs leading the pack) are purchased on pure emotion, not investment protocall. If you’re considering the resale value of an engagement ring that goes hand-in-hand with wedding bands - jewelry blessed in a church, temple or synagogue - symbolizing what, for many, is the most significant pivot point of your life, then you may want to revisit your definition of ‘love.’ That noted, I know you’re seeking more ‘meat and potatos’ responses and prefer something more tangible. That’s what this series is about, after all. But first, an important worldwide industry weather alert. I SNOWAND ICE At the tip of the LGD value sword is the ‘zero worth/ no resale value’ argument. Disgruntled dicussions spark industry fights, law suits and a lot of negativity. The moment LGDs started to roll their collective sales snowball, the size and weight quickly accumulated. When that mega ice ball rolled over natural diamond turf, the mined community banded together with blow torches aimed to melt the problem away. Natural diamonds have been turning up the heat ever since, and have plenty of reserve to keep those fires burning. Yet, where one LGD ice ball may turn to slush, many more are rolling in, gathering size and power. As this fire and ice storm continues, some retailers and consumers are choosing to take a vacation to more balmly environments. Perhaps this is why we’re seeing consumer nods to non-diamond engement rings. Next to diamonds, natural sapphires are the most in- demand center stone for today’s bride-to-be. Backed by a string of Hollywood influencers, the short list of those who have opted for blue, pink and yellow sapphire centers include, Kate Middleton, Elizabeth Hurley, Emma Slater, Mary-Kate Olsen, Jenny McCarthy, Victoria Beckham and Penelope Cruz. SINKOR SWIM Matshona Dhliwayo once said, “A fish that is afraid of drowning is ignorant of its gifts.” If you have taken a diamond side and did so out of competitive fear, consider ‘competition’ to be a falsehood. Look at the fur industry. There will always be those who desire natural animal fur/skins and will go out of their way to have their automobiles appointed with leather. These folks don’t think twice about purchasing handbags, belts or shoes created from the same native, natural source. Then, there will always be those who insist on man-made furs and non-leather options. Millions of restaurants worldwide do not restrict access if you’re a vegetarian or a meat lover. In the hospitality space, dining drives dollars. It’s not what you order, but the fact that you are dining out and ordering that matters. There will always be those who demand natural diamonds, and now, there are those who choose the opposite. The real ‘diamond king’ is the consumer and their power of choice.Embracing dual diamonds activates a much wider market we both monitor and benefit from. IS UNITY ANOPTION? What if there was a worldwide group that welcomed each side? Well, there is, or at least there could be. Enter the Mined and Man-made Diamond Alliance (MMDA); a concept that may die a quick death unless proven interest supports such. The mission statement is based on a unified global diamond team. It is not a means to reduce or replace any organization. The MMDA model may be most productive working with, and perhaps even for, the Natural Diamond Council (NDC) and the International Grown Diamond Association (IGDA). Updates on IGDA appear later in this story. Please visit www.MMDA.world and give your thumbs up, or down, to the idea of creating a unified diamond non-profit group aimed at the betterment of the diamond industry in totality. MEASURING LGD WORTH ANDVALUE Covered in detail in Parts 1 and 2, remember to not rely on one strength, rather combine points for the most robust response to LGD value question. Leading us off is an impossible to kill and proud point-of-difference. Made in the USA . Americans invented the process of growing diamonds and gemstones. The LGD American industry has extremely strong manufacturing capabilities. With LGD growers like Aether Diamonds, Etherneva (growers of a red diamond set in an18k ring auctioned at Sotheby’s) Diamond Foundry, DeBeer’s Element Six/Lightbox Diamonds, Diamond Nexus, WD Diamonds, and more. Touting American pride, increased US jobs and quality American craftsmanship, all contribute to US LGD worth and value. This is a very positive point that can’t be challenged by miners, as there are no commercial diamond mines in the states. Mmd M I N E D & M A N - M A D E D I A M O N D A L L I A N C E A W E A R E G L O B A L What are your thoughts on a Mined and Man-made Diamond Alliance? Your voice is welcomed and needed at www.MMDA.world