Has there been an increase in clients asking for lab-grown diamonds?

Two jewelers discuss the pros and cons of stocking synthetics.

By Phyllis Schiller

HOPE WIXON
OWNER, WIXON JEWELERS
BLOOMINGTON, MINNESOTANo, we have not had any inquiries. I would never even consider stocking these. It’s just like when moissanite came out. Everyone freaked out and said, ‘What’s going to happen to our industry?’ Sure, you’re always going to have young people who are thinking, ‘Oh, it’s saving the world,’ but at the end of the day, people want the real deal. Unless the bride picked it out, would she really want to be surprised by this type of ring?

“I haven’t had any interest to make me investigate lab-grown diamonds. It’s so not a part of who we are as a retailer; it’s not what our clients are looking for. It’s never going to happen here, put it that way. Most of our clients are older, established. We don’t really cater to the 18-year-olds or to the 25-year-olds. I think that’s where that market is, I guess. It’s not even an option for our clients. I don’t hear any clients discussing any issues with buying natural diamonds. The ‘blood diamond’ issue doesn’t even come into it.

“Nowadays, everything is about a cause, and every topic that used to be a non-topic is now a hot topic. I think people are just getting weary of all the causes. It’s not that they’re not sympathetic, but it’s just, how many battles do you fight?

“I don’t feel I have to romance diamonds to sell them, but I think I’d have to romance lab-grown diamonds and why someone is going to give one to their significant other. People here want value. They don’t mind spending the money as long as they know what they’re getting is the real deal, an authentic diamond. What is a lab-created diamond worth on the secondary market? What’s moissanite worth? Are you going to give a nickel for it if someone wants to trade it in?

AMY ASTARAEE
OWNER, BRAX JEWELRY
NEWPORT BEACH, CALIFORNIAWe just started to stock lab-grown diamonds. The reason I started carrying them is because people were coming in and asking for them. The most requests were from the younger generation. My regular customers are not interested in this type of diamond.

“We don’t push the lab-grown diamonds to customers who come in wanting to purchase diamonds unless they specifically ask for it. Then we show them the options. So far, what we’ve seen is that it’s not only about the price, it’s more about the stone being green and not a blood diamond and protecting nature. Mostly, we see that it is the younger generation that is leaning toward purchasing lab-grown diamonds. It’s the customer’s choice.

“These customers are primarily the millennials — sometimes it’s just the man shopping for lab-grown diamonds, and other times, we have couples shopping together, where it’s something they both agree on. I am anticipating that the demand for lab-grown diamonds will grow.

“Millennials are learning about this product organically on social media without any ads coming to them. To my knowledge, there is no need for a broad campaign, because consumers are driving demand already and will continue to do so as they hear more about it.

“Lab-grown diamonds are still kind of new. If a customer is looking for natural diamonds, we don’t want to push them toward the lab-grown diamonds. We don’t want them to feel uncomfortable with us. But if they ask for it or that price range, then we will educate them about lab-grown diamonds. But we don’t push them.

Image: Hope Wixon; Wixon Jewelers / Amy Astaraee; Brax Jewelry

Article from the Rapaport Magazine - January 2019. To subscribe click here.

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