Diamond industry have been going through significant changes over the recent years and we want to share out take on the state of things.
Right now, there are two big players in the diamond industry, natural diamonds (ones that are made in Earth's crust) and lab-grown diamonds (grown by humans).
- De Beers is the corporation that owns the absolute majority of diamond mines in the world and buys off rough diamonds from mines they don't own to control supply/demand chain. They exercise this control by controlling supply of diamonds to the industry, thus keeping diamond prices high.
It is an artificial manipulation to control the price of diamonds. Had the market been truly open, prices of natural diamonds would go down -- but was not the case for over 130 years.
- Lab grown diamonds are relatively new asset in the diamond industry, and it is noble to produce diamonds in sustainable way. What is appalling, however, is that customers and designers alike are charged same high prices for lab-grown diamonds. As technology evolves, we predict that lab-grown diamonds will become more affordable, and thus the value of a diamond that is lab-grown will shrink.
Because of that, we don't think it is ethical to ask our customers to invest thousands of dollars into gemstones that will potentially lose their value in the near future.
And that is why we sell only reclaimed natural diamonds. Reclaimed in this case means diamonds that have been in prior use. Just like our gold, those are stones that came from older jewelry.
It is a practice that allows us to take in what is best about lab-grown diamonds - their sustainability. Reclaimed diamonds do not prompt new diamond mining, what has a problematic past to say the least.
Reclaimed natural diamonds are a way that we can be confident that we simultaneously offer a good investment for our customers and use the best available materials as a business.