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Do You Stock Lab-Grown Diamonds?
By Phyllis Schiller
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| Rahaminov pendant featuring a Forevermark natural diamond. |
The 4Cs are not the only things that make a piece of diamond jewelry a sales winner. In an ongoing series, Rapaport Magazine explores the “3Ws” — what’s selling, what’s not and why — by going straight to the people who really know — jewelry retailers. Each month, we ask a sampling of retailers to comment on the important issues that are facing the industry today. Here is what they had to say when asked: “Are you stocking lab-grown white diamonds? What appeal do you see it having for your customers in the future?”
“At this point, we are not stocking lab-grown diamonds and are not planning to stock them. I do understand looking forward in a near future, a jewelry store like ours will probably have a case that is diamond and another case that is lab-grown diamond and have both options available. While I won’t rule it out completely, at this point, in our style of business, my feelings are, ‘No, we’re not going to do it.’
“Most of our business is custom work. I have told people about lab-grown diamonds. But most of our clients have passed it off as something they would not get into. I have not had anyone ask to get one. I’m not sure that in the finer side of business, it’s going to take a commanding position in the real near future.”
“We’re not a fan of lab-grown diamonds. No one has come in asking about this and I don’t think it’s something our customers will be interested in. I think we have a more traditional clientele and I think they want to be more traditional in their choice of stones.”
“I have not entertained the idea of stocking lab-grown diamonds at this particular time. I haven’t talked to any customers who are requesting any information to purchase them. I haven’t really been hearing, except for what I read in the trade publications, of customers purchasing lab-grown stones as opposed to the natural. I would say it has no effect on our end.”
“We’ve never carried lab-grown and at the present time, we’re not entertaining doing that. We’ve never had anyone ask about it. If they don’t ask, I’m not buying.
I’ve been in this business my whole life and whether lab-grown diamonds will have an effect on the natural diamond business has been a conversation I’ve heard from the very beginning. The whole debate is whether a woman would accept a diamond that’s been grown in a lab as opposed to a diamond formed billions of years ago in the earth that came up through a volcano, fully natural. For my customers, the answer is ‘no.’ From research that I’ve read, I don’t think lab-grown will be as accepted as a natural diamond. The prices are expensive, especially in the gem quality. I’m sure there are stores out there if they can get them at a better price and they can make a better profit, they’re going to stock them. But our philosophy is more about natural diamonds.”
“If it isn’t natural, I don’t want it. I can’t imagine this type of diamond finding a place in the industry because it has no rarity whatsoever. They can produce all of those they want but Mother Nature only produces a fixed amount. To me, there’s no appeal. I’m not real big on any synthetic. We’ve not had a single soul come in and ask about this. We sell Forevermark and that’s the thing we advertise. As far as lab-grown diamonds being a conflict-free choice, De Beers advertises that Forevermark is conflict free and natural. It’s kind of their bullet point, so we hit that right off the bat.”
“No, we don’t have any plans to stock them. It’s not something we’re interested in having or promoting. It’s not something that we are asked about or requested to have. What we do at this store is the classics and our clientele is interested in important pieces, important diamonds and the named-brand companies that we represent. Lab-grown diamonds are not what our clientele prefer and expect from us as far as diamonds, or colored gemstones, are concerned. I can see where they might be of interest to some chain stores as price-point items but it’s nothing that we would consider having.”
“We haven’t done that yet. I believe in the real thing. I wouldn’t lose a sale and I’d get a lab-grown diamond in for somebody if they wanted it, but it isn’t really my deal yet. Customers haven’t asked about it. If anything, in terms of an alternative to natural, it would more likely be about moissanite, if that.”
“I don’t think we would carry them. I’m sure that we wouldn’t. I’m going to stick with the natural, out-of-the-ground gemstones. I don’t think people are aware of lab-grown diamonds in the Midwest. I don’t think it will be a factor in terms of the jewelry we carry.”Article from the Rapaport Magazine - April 2016. To subscribe click here.
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