The way synthetic diamonds are currently marketed and sold is fundamentally unethical, dishonest and misleading. Essentially,
the current market for synthetic diamonds is evil and consumers that buy them are suckers. - Martin Rapaport

Those that market synthetic diamonds, claiming that they are a more ethical alternative to natural diamonds, are making false claims that threaten the lives and livelihood of millions of artisanal diggers.

One and a half million diamond diggers and the seven million people they support rely on the sale of their natural diamonds to sustain their lives. Those that market synthetic diamonds as an alternative to fair trade and development diamonds are taking bread out of the mouths of the poorest people in the world.

While new products and innovation should be supported, but it is highly unethical to claim that synthetic diamonds are more ethical than natural diamonds, while destroying the lives of the poorest and neediest people in the world. Synthetic diamonds are definitely not more ethical than natural fair trade or development diamonds. They are telling people not to buy from diggers. That is evil.

Selling a Product with Continuously Falling Prices

Synthetic diamonds are man-made, which means man can make unlimited amounts of them.

It is likely that synthetic diamond prices will FALL by at least 50 percent every 18 to 24 months!!

Given the unlimited supply scenario, I see no reason why synthetic diamonds should not settle down to price levels slightly higher than cubic zirconia or very fine-cut Swarovski crystals.

Synthetic sellers make a big point about disclosing that the

ir synthetic diamond is exactly the same as a natural diamond. That is not true.
Natural diamonds have natural scarcity, which enables them to be a store of value. Synthetic diamonds have no scarcity and are not a store of value. Consumers think they are buying a diamond with all of its attributes. They do not realize that they are buying something that does not hold value.

The fact that consumers are not fully and fairly informed about the fact that synthetic diamonds have unlimited supply and therefore cannot serve as a store of value is dishonest. Natural diamonds have consistently served as a store of value for hundreds of years and consumers mistakenly believe the same of synthetics.

Consumers have a right to know what they are buying. Do they know that the value of synthetics is unsustainable and that the price they paid will fall sharply in the years ahead? Consumers are being unfairly misled by synthetic companies that don't tell the whole truth. When they find out they have been ripped off there will be hell to pay.

What's a Jeweler to Do?

Should retailers sell synthetic diamonds? If they don't, they might lose a customer. If they do, what will they tell the consumer looking to resell the diamond in a few years?

You must be totally honest with consumers. Let them know that synthetics are not more ethical than natural diamonds and that synthetics are not a store of value.

In my view the whole point of the engagement ring is that the man is giving the woman - or partner to partner - something of great value that will retain value.

The challenge to our natural diamond trade is real and dangerous. It's high time we promote natural diamonds. Anything and everything that is good about natural diamonds needs to be communicated.

We must attack the dishonest way synthetic companies are communicating about ethics and diamond value. Consumers need to be warned that synthetic diamonds do not store value and that their prices will collapse in the years ahead. Ads showing brides-to-be rejecting synthetic diamonds need to be aired. It's time to stop being politically correct and fight for the legitimacy of natural diamonds.

Email me for the full article and Letter to Leonard DiCaprio.

Aleah's 2 cents

I think we have done a terrible job combating the Conflict Diamond accusation. The diamond industry feeds 10 million people & we worry about a few conflict ones? It's like refusing to vaccinate your kids because there was one unfounded article that said vaccines were potentially harmful. We need to do a better job showing how much GOOD Natural Diamonds do!