Green Rocks Created Diamonds, based in London’s Hatton Garden, today announced further developments in the created diamond market.
Last year the GIA made a significant announcement to the industry when it launched its LGDR – a full grading report for laboratory-grown diamonds – followed with the statement: “There will always be a market for the amazing treasures of Mother Nature’s natural diamonds, but there is a new generation of customers who view laboratory-grown diamonds as an option. They, too, deserve our protection.”
It claims to have sent a message to jewellers all over the world that laboratory-grown diamonds are here to stay and are highly relevant and sought after by the consumer.
Leon Peres, president, and CEO of Green Rocks saw this as a necessary evolution for the market, and today sees that progression continue with the GIA now making a clear distinction on its certificates between a non-treated ‘as grown’ diamond and a post-growth treated one.
This is indicated by an asterisk next to the colour grade and mirrors the same way that the GIA distinguishes between a mined diamond that has been treated to enhance its colour and one that has not.
Peres says that in his mind the ‘*‘ signifies that a diamond that is treated – whether it is mined, or laboratory-grown – is not the standard and not what the customer will come to demand as the market for laboratory-grown diamonds only continues to grow within the UK and Europe.
Understanding that this differentiation is important, and that transparency is key, the IGI has since followed suit, and updated how it grades laboratory-grown diamonds on its reports by specifically indicating diamonds that are “as grown with no indication of post-growth treatment.”
“The popularity of lab-grown diamonds has heightened since IGI debuted the industry’s first (reports) 16 years ago” CEO of IGI, Roland Lorie, stated. “As the technology has advanced and demand evolves, this institute will continue to do right by the consumer.”
“We praise the IGI and GIA for this important decision” said Peres. “Not all laboratory-grown diamonds are created equal.
“Some are grown using inferior technology, are of low quality and cannot be sold without colour enhancement to treat the colour, often numerous times and with several methods, until it is white enough to be sellable.
“Retailers and consumers deserve to know exactly what they are buying so they can make an informed decision with all the facts laid out in front of them.
“We have always supported this level of transparency and fully expect UK & European customers to demand non-treated laboratory grown diamonds just as we have seen happen in the US market.”