Lab Grown Cultured Diamonds - FTC Regulatory Rulings
I have been getting a LOT of questions and inquiries regarding Lab Diamonds the past few weeks - for existing and new clients alike.
What I am finding is that when I offer lab "cultured" diamonds as an option, and fully explain what they are, most of my newer clients are opting for the lab stones.
Why? For a few reasons. The most compelling is that on average a lab diamond is 30% less expensive than a mined one. Which means if you were to buy a certified G VS diamond with an excellent cut you would pay approximately 30% less for a comparable size and quality G VS lab diamond.
Another option is to get a larger comparable diamond and still save money. So lets say a budget allowed for a 1.5 ct round brilliant G VS EX cut mined diamond, if buying a lab grown diamond, same color and quality, the same budget would allow for a 2.0 ct diamond. Two of my clients have opted to split the difference and get a 1.75 ct diamond and put a few dollars back in their pocket.
But the most compelling reason seems to be the endorsement by the FTC (Federal Trade Commission) whereby they have clearly stated that there are now two types of "real" diamonds;
Mined and Lab Cultured Diamonds.
To better educate my clients - this is the information I am sharing - with more to come!
1. my blog post about Lab Diamonds:
2. For those really interested in the industry information …
the Final Revision to Jewelry Guides by the Federal Trade Commission (FTC)
Specifically look at Section H (pg 79) and the conclusion on page 87-
"Finally, the Commission removes the term “synthetic” from the examples of possible qualifications."
and Section I on Page 93-94
However, the Commission cautions marketers that it would be deceptive to use the terms “real,” “genuine,” “natural,” or “synthetic” to imply that a lab-grown diamond (i.e., a product with essentially the same optical, physical, and chemical properties as a mined diamond) is not, in fact, an actual diamond. As discussed below, the Commission no longer defines a “diamond” by using the term “natural” because it is no longer accurate to define diamonds as “natural” when it is now possible to create products that have essentially the same optical, physical, and chemical properties as mined diamonds.358
Big blow to the mined diamond industry but regardless - providing an accurate cert from a reputable grading agency is certainly my preference.
A few more summary links.
and an article published by Forbes on the subject:
Of course the proof is in how it looks!
Custom Oval Lab Diamond Engagement Ring
$2950 with Lab diamonds vs $4150 with Mined diamonds
for more information email me directly or call 516-422-1220