New diamond regulations may label some diamonds as synthetic

2 years 9 months 1 week ago Thursday, February 11 2016 Feb 11, 2016 Thursday, February 11, 2016 12:18:00 PM CST February 11, 2016 in Top Stories
By: Angie Bailey, KOMU 8 Anchor

COLUMBIA - When shopping for your valentine, it is important to ask if the diamond is man-made or synthetic.

Some real diamonds are being made in weeks, not centuries. It all starts with a small seed about the size of a shirt button. That seed is then blasted with carbon particles in high heat. Then, in about 2 weeks, that seed turns in to a genuine one-carat diamond.

This lab-made diamond is identical down to the molecule, even under a microscope. This method is already being used in the U.S. and elsewhere. 

Now, the 143 billion dollar jewelry industry is watching to see if lab-made diamonds will get any love from consumers.

Mills Menser owns Buchroeders Jewelers in downtown Columbia. His dad owned the store before him, so he said he grew up looking at diamonds.

Menser said he buys precious stones from all over the world. So far, he said his customers haven't shown an interest in lab-grown diamonds.

"One took billions of years to grow and is a natural wonder. The other is a science experiment for lack of a better term," Menser said.

Lab-grown diamonds currently sell for 15-30 percent less than a natural diamond of the same size and clarity. Last year, 400,000 carats of gems were grown in the U.S.

The Gemological Institute of America is the industry's final authority on the value of a diamond. It has only recently agreed to start grading lab diamonds using the same criteria as natural diamonds.

Menser said the GIA is sending a message when it makes a point to distinguish between the two groups of diamonds. The rule is that man-made stones have to be labeled as "synthetic."

Menser compares diamonds to art.

"If you have a painting by Picasso or Monet, and another artist duplicates that by using the same type of canvas and paint, it doesn't make it a Monet. It doesn't make it worth the money of the original. People want that original," Menser said.

He said he wonders if lab-grown diamonds will be tagged with the same stigma of Cubic Zirconia and Moissanite. He said both look exactly like a diamond to the naked eye, but have only declined in price since arrival on the market many years ago.

He said the future value of lab-diamonds could be very disappointing.

"The resale value on those is very dismal. Although you're saving a little up-front, you're giving virtually everything away on the back-end. People aren't going to want to pay anything for them," Menser said.

To protect your investment, Menser says you should insist your diamond, natural or lab-grown, have a GIA certification and will therefore be laser inscribed. A jeweler can show you that inscription under a microscope. 

Lab-grown diamonds are free of the ethical and environmental concerns raised by natural diamonds from a mine.

Right now, if you opt to buy a man-made diamond, you are rolling the dice on it's future resale value. 

The bottom line is that people should ask what they are buying because the growth in the man-made diamond market is expected to go up by around one-thousand percent during the next several years, according to a Bloomberg business report.

 

 

More News

Grid
List
JEFFERSON CITY (AP) — The State Board of Education is set to pick Missouri's next top K-12 education official. ... More >>
1 hour ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 2:53:00 PM CST November 19, 2018 in News
PHELPS COUNTY - A grand jury indicted a St. James attorney with 18 counts involving sexual assaults of four different... More >>
2 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 2:07:00 PM CST November 19, 2018 in News
COLUMBIA - The Columbia City Council will vote Monday night on a proposed agreement between the city and two electric... More >>
2 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 1:26:00 PM CST November 19, 2018 in News
KANSAS CITY (AP) — The Kansas City Zoo euthanized a 55-year-old chimpanzee because her health was failing. Blackie, who... More >>
3 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 12:24:00 PM CST November 19, 2018 in News
BOONE COUNTY - It was a "loud verbal argument" between Tiffany Fountain and a male that led to a shooting... More >>
4 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 11:53:00 AM CST November 19, 2018 in News
(CNN) -- Three Democratic senators on Monday filed a lawsuit challenging the appointment of acting Attorney General Matt Whitaker, ratcheting... More >>
5 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 10:20:00 AM CST November 19, 2018 in News
SPRINGFIELD (AP) — A Freshman wrestler at Drury University was shot in the abdomen in a hunting accident over the... More >>
7 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 9:13:00 AM CST November 19, 2018 in News
ROLLA (AP) — Authorities say four people have been killed in a head-on crash in Phelps County. The Missouri... More >>
8 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 8:12:00 AM CST November 19, 2018 in News
CAMDENTON - Camden County Sheriff's Deputies said a suspect is in custody in connection with a possible homicide early Monday... More >>
8 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 7:32:00 AM CST November 19, 2018 in News
INDEPENDENCE (AP) — Authorities say a Missouri man who was free on bond while awaiting trial in a deadly September... More >>
9 hours ago Monday, November 19 2018 Nov 19, 2018 Monday, November 19, 2018 7:05:00 AM CST November 19, 2018 in News
(CNN) -- While hundreds of families wait in agony to learn the fate of missing loved ones, officials gave a... More >>
17 hours ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 10:18:00 PM CST November 18, 2018 in News
COLUMBIA - A St. Louis woman is headed to California and collecting donations along the way to help the victims... More >>
18 hours ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 9:33:00 PM CST November 18, 2018 in News
OZARK (AP) — Springfield's yoga community is speaking out after a pastor at an Assemblies of God megachurch warned Christians... More >>
18 hours ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 9:15:00 PM CST November 18, 2018 in News
WASHINGTON (AP) — The Latest on the killing of Saudi journalist Jamal Khashoggi (all times local): 10:55 a.m. ... More >>
23 hours ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 4:59:00 PM CST November 18, 2018 in News
OMAHA (AP) — The Federal Reserve says farm income continued to decline across the Plains and western states this fall... More >>
1 day ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 3:32:00 PM CST November 18, 2018 in News
COLUMBIA - City Manager Mike Matthes said he will speak at the council meeting Monday, following the announcement of changes... More >>
1 day ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 11:37:00 AM CST November 18, 2018 in News
COLUMBIA – Turkey Day came early for people in Columbia on Saturday. The Shiloh Christian Worship Center hosted its... More >>
1 day ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 11:18:00 AM CST November 18, 2018 in News
SAVANNAH (AP) — A cat owner in northwestern Missouri is crafting makeshift shelters to help keep stray cats warm during... More >>
1 day ago Sunday, November 18 2018 Nov 18, 2018 Sunday, November 18, 2018 11:05:00 AM CST November 18, 2018 in News
Columbia, MO
Broken Clouds 44°
5pm 43°
6pm 41°
7pm 38°
8pm 36°