DeBeers to sell lab-created diamonds

[BigPurseSue]

This is interesting. DeBeers announced that it plans to sell a line of lab-created diamonds for what it calls the costume-jewelry market, as opposed to the bridal market that most sellers of lab diamonds aim for. Here's an article about it from the NY Times:

"'Diamonds Are Forever' and Made by Machine
https://www.nytimes.com/2018/05/29/business/de-beers-synthetic-diamonds.html

The line is called Light Box. They plan to sell white, baby-blue and pink lab diamonds starting in the fall. The web site is: http://www.lightboxjewelry.com

 

[Love Of My Life]

Judith Ripka talked about this article today while selling her jewelry on one of the home shopping networks
Quite interesting

 

[bunnycat]

Intriguing. One of the problems has always been that there has always seemed to have be (Intentional???) confusion between synthetic diamonds (same chemical composition, light refraction properties and Mohs hardness) and "man made" diamonds (like diamond coated CZ and the like). The sellers of those products label them as "lab diamonds" and of course they are NOT chemically or compositionally the same, and many people don't understand that. Getting people to actually understand the different between a diamond that has the same crystal structure and composition as a mined stone has been fraught with difficulty for years....They have a lot of work ahead of them, I suspect.

 

[Compass Rose]

DeBeers just wants to cash in on a growing market. They probably never ever thought it would be this soon.

 

[pammbw]

DeBeers has always denigrated lab created diamonds, so this about face is interesting indeed. I agree that educating consumers about different man made and mined gemstones is a confusing business. I think the CZ and Moissonite vendors- Berricle, Birkat Elyon, Charles and Colvard, etc- do a good job of labeling their goods as nothing other than a beautiful man made gemstone in its own right. Consumers are familiar with CZ & Moissonite and accept it for what it is, nothing "fake" about it. Lab created diamonds, or "cultured" diamonds, as the industry may call itself, as the new kids on the block, will definitely have the harder time setting themselves apart from the rest. DeBeers finally embracing this technology tells me that lab created diamonds will be the wave of the future.

 

[BigPurseSue]

I agree that lab-created diamonds are going to be the wave of the future. But educating consumers is going to be tough. For instance most people don't understand the difference between lab-created gemstones and simulated gemstones.

DeBeers' pricing is very interesting. https://lightboxjewelry.com/pages/our-pricing They're setting the stones in cheap costume-jewelry settings--sterling, 10K, gold-plated. So as not to impact their buyers of mined diamonds no doubt. Yet the pieces are very expensive. For a 1/4 carat-total pair of diamond studs in 10K gold the price would be $400. It would be $100 less if the setting is silver.

 

[pammbw]

I agree that lab-created diamonds are going to be the wave of the future. But educating consumers is going to be tough. For instance most people don't understand the difference between lab-created gemstones and simulated gemstones.

DeBeers' pricing is very interesting. https://lightboxjewelry.com/pages/our-pricing They're setting the stones in cheap costume-jewelry settings--sterling, 10K, gold-plated. So as not to impact their buyers of mined diamonds no doubt. Yet the pieces are very expensive. For a 1/4 carat-total pair of diamond studs in 10K gold the price would be $400. It would be $100 less if the setting is silver.

I agree the pricing for the settings they are offering will be problematic. I really liked the pink princess cut stud earrings, but for silver settings, I may as well just buy CZ for $20 and get the same look. I think they are making a mistake not offering higher quality settings. I, for one am not paying $400 for silver.

It will be interesting to see if their marketing strategy pays off. I think their main competitor is not going to be mined diamonds, but CZ fashion jewelry. But we all know DeBeers is very good at marketing!

 

[BigPurseSue]

I agree the pricing for the settings they are offering will be problematic. I really liked the pink princess cut stud earrings, but for silver settings, I may as well just buy CZ for $20 and get the same look. I think they are making a mistake not offering higher quality settings. I, for one am not paying $400 for silver.

It will be interesting to see if their marketing strategy pays off. I think their main competitor is not going to be mined diamonds, but CZ fashion jewelry. But we all know DeBeers is very good at marketing!

Oh I totally agree! I'm not going to pay $400+ for earrings with some cheesy-looking settings even if they are chemically-real diamonds. Not when I can get $15 sterling-CZ studs at Macy's.

I think De Beers is making a mistake with the cheap settings.

Only time will tell what the quality of the lab-made diamonds looks like. The web site says they contracted out the manufacture of the diamonds. If they're not graded I'd want to see them IRL before buying.

 

[ArmCandyLuvr]

$100 is ridiculous for sterling stud settings. Ritani offers basic four-prong settings in 18k gold for $150! My platinum martini settings were only $185, and they're charging $200 for 10k gold!

 

[lorihmatthews]

My guess is that they're going for a somewhat aspirational customer. One who can't afford the cost of a natural diamond but wants the name. Or, the customer who wants a diamond look but is wanting to stay away from real diamonds due to the hype around anti-blood diamonds.

Similar to when Target and H&M do collabs with large designers.

 

[crystal_cat]

My unity thought is that they are trying to differentiate their synthetic diamond from the bridal market - I'm sure the market for diamond simulants and alternatives has impacted sales of mined diamonds. So if consumers associate simulants with costume jewellery, they will be more like to go for the 'real thing' when it comes to bridal. Also, I really like the moon sharks earrings but the price is pretty steep.

 

[Gourmetgal]

I’ve seen lab grown diamonds irl and they look just like real diamonds...in fact they are the same material and are a big step up from CZ in look and quality. Do not think you can just buy CZ’s and get the same look. Vast difference. I would definitely consider lab grown for non-major pieces, like hoop earrings or tennis bracelets. The pricing seems expensive compared to CZ’s but not compared to mined diamonds.

 

[bunnycat]

I haven't looked at their pricing, but again, the main problem here is going to be in "lingo" that is already present in the industry. I am not going to name names, just feel free to google diamond coated CZ.

So there are at least 4 things to keep track of

1- CZ and other man made zirconium simulants
2- coated CZ products to give it better durability and "luster"
3- non CZ simulants that are lab grown (Moissanite and so forth...and that sometimes even get called diamond- incorrectly, IMO)
4- Lab created actual diamonds that are chemically and compositionally the same
5- actual mined diamonds

Then add on top of that the massive amount of misinformation there is about actual mined diamonds. There has been so much misinformation through the decades from brick and mortar jewelry stores. I still get the impression that most people think a diamond sparkles because once it comes out of the ground and you polish it just "is".

Nope.

Color and Clarity?

Nope. (very seldom interferes with sparkle)

Hearts and Arrows?

Nope (that's just a measure of symmetry)

Cut quality.

Yep. A diamond is basically a really really expensive mirror. The mirror is made out of all the facets on it interacting together and reflecting back and forth and out the top of the stone back at you- the viewer. That's what makes it sparkle. So if the cutter cheats and is trying to save material to make it weigh more on paper, or make it flat and shallow but have a wide diameter for its weight, then that can interfere with sparkle.

There is a set of variables which forms the basis for diamond pricing and all of the above factor in to it. So a stone that is beautifully cut and in a desirable color range and clarity range (and a cert from a reputable lab) is priced much higher than a stone that has a less desirable color, poor clarity, and bad cut optics or a cert from a questionable lab. The lower those go, the cheaper the stone and the more you find them in cheaper jewelry as opposed to high end jewelry.

(Wait- I really do have a point)

Last I looked (when we were looking for my engagement ring), the actual lab grown diamonds maxed out in size (around 1ct or so because that's as big as they could grow them) and their price was around 20% cheaper than a mined stone. However, IMO once you factor in that the cutters may or may not be paying attention to good proportions, and that GIA and AGS won't grade lab create stones, so the color and clarity listed on whatever cert they come with may or may not be accurate, it doesn't seem like much saving to me. (If GIA or AGS as the most trustworthy grading labs change their mind and starts issuing certs for lab stones, I'm all on board).

So, at the moment I am applying the same logic to whatever DeBeers is scheming. To me $400 for .25ctw of mediocre or poorly cut material doesn't seem like that much of a deal, so I'd wait and see what the stone quality will be like. Will it be as pretty as the promo pics? Or, really will it be like getting the crummy industrial D grade stuff they put in jewelry "promo" products? Time will tell, I suppose.

 

[BigPurseSue]

My guess is that they're going for a somewhat aspirational customer. One who can't afford the cost of a natural diamond but wants the name. Or, the customer who wants a diamond look but is wanting to stay away from real diamonds due to the hype around anti-blood diamonds.

Similar to when Target and H&M do collabs with large designers.

From the web site it almost looks like they're trying to appeal to the aspirational sorority-girl set. This is the jewelry you give to your gal-pals because they're your pals. Their motto is "For Moments Not Milestones." I think that and the cheap costume-jewelry settings are pretty significant.

My unity thought is that they are trying to differentiate their synthetic diamond from the bridal market - I'm sure the market for diamond simulants and alternatives has impacted sales of mined diamonds. So if consumers associate simulants with costume jewellery, they will be more like to go for the 'real thing' when it comes to bridal. Also, I really like the moon sharks earrings but the price is pretty steep.

I think DeBeers wants to get in on the man-made diamond market but avoid threatening the market for mined diamonds. So they're marketing these as costume jewelry.

I’ve seen lab grown diamonds irl and they look just like real diamonds...in fact they are the same material and are a big step up from CZ in look and quality. Do not think you can just buy CZ’s and get the same look. Vast difference. I would definitely consider lab grown for non-major pieces, like hoop earrings or tennis bracelets. The pricing seems expensive compared to CZ’s but not compared to mined diamonds.

That's interesting. And good to know. I haven't seen lab-grown diamonds IRL. But I can't help but wonder whether the quality of these particular lab diamonds being marketed by DeBeers is intentionally inferior in quality so as not to impact their mined-diamond market.

Yep. A diamond is basically a really really expensive mirror. The mirror is made out of all the facets on it interacting together and reflecting back and forth and out the top of the stone back at you- the viewer. That's what makes it sparkle. So if the cutter cheats and is trying to save material to make it weigh more on paper, or make it flat and shallow but have a wide diameter for its weight, then that can interfere with sparkle.

There is a set of variables which forms the basis for diamond pricing and all of the above factor in to it. So a stone that is beautifully cut and in a desirable color range and clarity range (and a cert from a reputable lab) is priced much higher than a stone that has a less desirable color, poor clarity, and bad cut optics or a cert from a questionable lab. The lower those go, the cheaper the stone and the more you find them in cheaper jewelry as opposed to high end jewelry.

(Wait- I really do have a point)

Last I looked (when we were looking for my engagement ring), the actual lab grown diamonds maxed out in size (around 1ct or so because that's as big as they could grow them) and their price was around 20% cheaper than a mined stone. However, IMO once you factor in that the cutters may or may not be paying attention to good proportions, and that GIA and AGS won't grade lab create stones, so the color and clarity listed on whatever cert they come with may or may not be accurate, it doesn't seem like much saving to me. (If GIA or AGS as the most trustworthy grading labs change their mind and starts issuing certs for lab stones, I'm all on board).

So, at the moment I am applying the same logic to whatever DeBeers is scheming. To me $400 for .25ctw of mediocre or poorly cut material doesn't seem like that much of a deal, so I'd wait and see what the stone quality will be like. Will it be as pretty as the promo pics? Or, really will it be like getting the crummy industrial D grade stuff they put in jewelry "promo" products? Time will tell, I suppose.

This is something I've been wondering about as well. What's the cut of these particular lab-made diamonds like? So much of a diamond's beauty and dazzle rests upon its cut, and cutting is a very labor-intensive process. A beautiful lab diamond doesn't arrive with an instantaneous Poof! from a compressed fiery ball of carbon. As with mined diamonds, it must be cut and cut expertly in order for it to shine. I remember the first time I saw a wealthy woman wearing a honking big diamond. I was like holy crap, that is a spotlight! I could see it shine across a crowded room. Does the fact that DeBeers is setting these man-made diamonds into costume settings mean that the company is saying "O.k., these diamonds are not cut as well or as beautifully as mined diamonds. Everything about them is second-rate, we've made them intentionally second-rate so don't even think about giving them as gifts for the important occasions in a woman's life." Is that what's going on?

 

[bunnycat]

From the web site it almost looks like they're trying to appeal to the aspirational sorority-girl set. This is the jewelry you give to your gal-pals because they're your pals. Their motto is "For Moments Not Milestones." I think that and the cheap costume-jewelry settings are pretty significant.



I think DeBeers wants to get in on the man-made diamond market but avoid threatening the market for mined diamonds. So they're marketing these as costume jewelry.



That's interesting. And good to know. I haven't seen lab-grown diamonds IRL. But I can't help but wonder whether the quality of these particular lab diamonds being marketed by DeBeers is intentionally inferior in quality so as not to impact their mined-diamond market.



This is something I've been wondering about as well. What's the cut of these particular lab-made diamonds like? So much of a diamond's beauty and dazzle rests upon its cut, and cutting is a very labor-intensive process. A beautiful lab diamond doesn't arrive with an instantaneous Poof! from a compressed fiery ball of carbon. As with mined diamonds, it must be cut and cut expertly in order for it to shine. I remember the first time I saw a wealthy woman wearing a honking big diamond. I was like holy crap, that is a spotlight! I could see it shine across a crowded room. Does the fact that DeBeers is setting these man-made diamonds into costume settings mean that the company is saying "O.k., these diamonds are not cut as well or as beautifully as mined diamonds. Everything about them is second-rate, we've made them intentionally second-rate so don't even think about giving them as gifts for the important occasions in a woman's life." Is that what's going on?

So very true. Cutting is a very labor intensive process, and generally, in order to get really good proportions, the cutter has to use up more rough than they would have if they were just going for weight, and that's one reason the really well cut boutique stones (the various Super Ideal cut stones out there) cost more for the same size stone. Then, you can't get out of the cost of sending it to be independently graded by a reliable lab like GIA or AGS and so if the max cost on these is <$1K then they most likely aren't graded either....

And really, as long as a person is going in with their eyes wide open, and knows what they are getting and expecting for their cash, as long as they are happy with their decision, that's fine. It's just when people go in blindly, especially in to a situation that has always been cloaked in mystery (jewelry selling) and relies on people's emotional attachment to an object to make a decision, I get wary, and recommend caution and learning as much as you can, so you can make an informed decision.

You wouldn't buy a car (or an expensive purse!) without researching the quality of what you are buying and making yourself aware of the pros and cons, and I tend to approach any expensive purchase the same way.

And you make a good point about the marketing of them. They are already clear that they are marketing them as "less than" fine jewelry...that's already a bit of a red flag to me. And the "moments not events" is always a red flag to me too from the jewelry industry, always having played on people's emotions for sales rather than making informed buyers.