JON WALP
GENERAL MANAGER
LONG JEWELERS
VIRGINIA BEACH, VIRGINIA
“It seems that those dealing in precious natural diamonds have always faced a challenge from synthetic diamonds, whether CZs [cubic zirconia], YAGs [yttrium aluminum garnet] or moissanite. With lab-grown diamonds, it’s a little scarier because of the difficulty in identifying created diamonds. And this time, with the Lightbox Jewelry, it is a little different in that De Beers, too, is a player in this market.
“De Beers knows that there is always a consumer desire for lower-cost alternatives to natural diamonds. I believe that their Lightbox Jewelry venture has two objectives. Not only will it compete for this consumer, but it will also drive out the competition with lower pricing. By driving down prices and devaluing the lab-grown diamonds, they will actually enhance the value of natural diamonds.
“As far as my view of lab-grown diamonds, I consider myself a traditionalist. That being said, I have brought lab-grown stones into the store. I hate it and will do all in my power to convince my clients that a natural diamond is the better route to take, but at the same time, as a retailer, I can’t afford to lose any sales.... I would consider at least looking at the Lightbox line, but more as a design/color-stone alternative than from a diamond jewelry perspective. Lightbox could make a great add-on sale and may bring new clients into the store, which will enable me to introduce them to bigger and better things in the future.”
MICHAEL WILSON
OWNER
WILSON & SON JEWELERS
SCARSDALE, NEW YORK
“For me, lab-grown diamonds absolutely have a place in our industry at the retail level. We’re believers that there is room for it. One thing that we’ve all been battling for the past few years is full disclosure about what these stones are. And I think one thing that De Beers brings to the table on that score is the fact that their brand name backs up the fact that they’re selling synthetic diamonds. It’s not like they’re trying to sell fake diamonds and push them off as real under the De Beers name. They’re clearly stating, ‘Lightbox is our brand, and we’re selling synthetic diamonds to the public at terrific prices.’ This makes sure there’s a clear distinction between stones grown in the lab and diamonds that occur naturally.
“‘Lightbox Jewelry by De Beers’ might carry a bit more weight than just the name ‘Lightbox,’ which is a brand out of left field — in the same way that Forevermark having De Beers’ name attached to it has a bit more significance added to the brand name.
“We do not stock lab-grown diamonds in the store at present. But I would consider bringing the Lightbox Jewelry in. I’m not at 100% right now, but I would say absolutely, it’s something that we would consider doing sometime in the future.”
Image (left to right): Michael Wilson, Owner Wilson & Son Jewelers; Jon Walp, General Manager Long JewelersArticle from the Rapaport Magazine - August 2018. To subscribe click here.