Lab grown diamonds have been a point of contention in the diamond industry for years now. There may be a change on the horizon when it comes to the trade of melee diamonds. The Bharat Diamond Bourse (BDB) in Mumbai was the very first exchange to declare itself a “natural-diamond zone” in October 2015. This made it very safe to buy melee diamonds with confidence that no synthetics would be included.
As the BDB does, many others follow in step. It's not the first time it's acted as a bellwether for the industry. When the BDB considers seriously changing its course, it can mark others doing the same. This makes it ground-shaking that the BDB may consider a vote to change its stance on trading lab grown diamonds.
Some members have requested such a vote. This doesn't necessarily mark a higher acceptance for lab grown diamonds, though. They're still largely considered less valuable than natural diamonds. For instance, consider industry polling data accessible in the U.S. Consumers clearly place a higher value and desirability on natural diamonds.
Policy Around the World Varies
The BDB's potential change comes about as a result of the higher accuracy in detection. When the BDB banned lab grown diamonds in 2015, the ability to detect the differences wasn't as advanced as it is today. Lab grown diamonds themselves are much more similar to natural diamonds than they were even a few years ago, but the ability to detect them and the standardization of processes to do so have improved by leaps and bounds.
Bourses, exchanges, federations, and dealers’ clubs have a wide range of policies regarding synthetic diamonds and disclosure. Some ban them outright, like the BDB and Diamond Federation of Hong Kong. Others include synthetic diamond companies as long as product disclosure rules are adhered to. These include the bourses of Antwerp, Belgium, and the Dubai Diamond Exchange.
The Importance of Melee Analysis
There's a reason that when you buy melee diamonds from K. Rosengart, they're fully analyzed, sorted, and graded through a stringent Melee Diamond Analysis Service. The recently launched service allows purchasing stores to have access to the full range of information on the melee diamonds they're purchasing. As mentioned, natural diamonds are still more highly valued, and that means that you need a guarantee and verification that these are exactly what you're getting.