Friday, May 16, 2008

Diamond Congress: Agreeing on Generic Marketing and Synthetic Labeling

From an article on synthetic/cultured diamonds:

The 33rd World Diamond Congress saw the release of new International Diamond Council (IDC) rules for grading diamonds. The rules, standards on nomenclature for lab-created or synthetic diamonds, were prepared by a joint committee of IDMA and the WFDB, and stipulate that diamonds created in a laboratory environment must be labeled by approved terms.

Lab-grown, lab-created, man-made and synthetic can all be used to describe a created diamond, and these terms must be accompanied by ‘diamond.’ The committee emphasized that the term ‘cultured’ may not be used in reference to synthetic diamonds. Fischler said during the final press conference this was due to the fact that the word can be very easily confused with cultured pearls, which could imply an element of natural growth in the process.

“The intrinsic value of diamonds is based upon its uniqueness,” Fischler said. “Each diamond is unique. Lab-grown diamonds are in no way unique, and I think it is very important for everyone to understand the difference.”

The World Jewellery Confederation (CIBJO), said in a joint statement issued by with the WFDB and IDMA that it acknowledged and accepted the IDC’s regulations relating to the nomenclature of synthetic diamonds.

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