(These are different from simulant diamonds, which atomically, are not diamonds at all. Simulants, or imitation diamonds are actually chemically composed of another material altogether, like moissanite or cubic zicronia. Pictured above is a simulant diamond)
Man-made diamonds on their own, present a legitimate opportunity for both buyers and sellers, IF disclosed properly. There's nothing fraudulent about selling one of these stones, as long as they are sold as synthetic gemstones or laboratory-made gemstones. The problem is, because there seems to be an influx of these products flowing into the international jewelry markets, some shady sellers try to move their items in an underhanded fashion, sneaking man-made gemstones into parcels of natural diamonds. Even store owners often fall prey to this scheme, as you need advance spectrometric equipment to detect a fake.
Despite their monetary values being very different, visually a synthetic diamond is almost impossible to separate from a natural one, even for experienced jewelers. The cause for concern is starting to hit many, as the public starts to gain awareness on the reality of this issue and what it means for security in the diamond trade.
According to news sites in the US, a subsidiary retail brand of Diamond Foundry will be shutting down their physical store in Los Angeles branch after just six months in business. The manufacturer legally produces or grows synthetic diamonds using controlled machinery.
The closure of their establishment is occurring for reasons we can only speculate from halfway around the world, but the company isn't out of the ballgame just yet. Reports say that the brand will continue with its online business activity, as they still state that fast-paced movement of their lab-grown diamond products is prevalent throughout many digital markets.
It's unclear whether the public's reception of synthetic diamonds would be similar in other localities, but the fact that these artificially made products are being sold online to millions of people across the world, should stir up the possibility of gradually diffused security in the overall diamond trade.
Are these buyers acquiring the stones for personal jewelry, or are they re-selling them to unsuspecting people who do not yet know of the technology to produce diamonds with machines? Here in the Philippines, synthetic diamonds have also made their way into our community. We actually applaud the local retailers who openly disclose their items as synthetics, but hold fear regarding the small-scale traders that may be too tempted to gain a quick buck at someone else's expense.
Hopefully the ethics and open disclosure stay true for businessmen here in Metro Manila, as the separation of natural VS synthetic diamonds is currently a fast-growing issue. Gemcamp Laboratories has already encountered several synthetic stones at our facility, some of which had owners who were not aware of their production from machines. It's a pressing matter, and we hope to always do our best in helping the Filipino people stay away from any possible fraudulent purchases.
