New diamond regulations may label some diamonds as synthetic

3 years 8 months 1 day 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
COLUMBIA - The Columbia Board of Education will discuss modifications to the public comment section of its meetings Monday night.... More >>
22 minutes ago Monday, October 14 2019 Oct 14, 2019 Monday, October 14, 2019 5:13:00 PM CDT October 14, 2019 in News
COLUMBIA — The CEO of Dow Inc. has donated $6 million to a new University of Missouri health institute... More >>
4 hours ago Monday, October 14 2019 Oct 14, 2019 Monday, October 14, 2019 12:49:00 PM CDT October 14, 2019 in News
CENTRALIA - Centralia is holding their first monthly meeting on public safety Monday night since the firing of former Centralia... More >>
5 hours ago Monday, October 14 2019 Oct 14, 2019 Monday, October 14, 2019 11:51:00 AM CDT October 14, 2019 in News
KEYTESVILLE- A mid-Missouri father filed a wrongful death lawsuit Wednesday against the man accused of causing his disabled daughter's death... More >>
6 hours ago Monday, October 14 2019 Oct 14, 2019 Monday, October 14, 2019 11:21:00 AM CDT October 14, 2019 in News
JEFFERSON CITY - A local group wants to expand the Jefferson City National Cemetery by relocating East Miller Park across... More >>
7 hours ago Monday, October 14 2019 Oct 14, 2019 Monday, October 14, 2019 10:25:00 AM CDT October 14, 2019 in News
ROCHEPORT - The Columbia Department of Public Health and Human Services is opening community-based pop up flu clinics in Boone... More >>
7 hours ago Monday, October 14 2019 Oct 14, 2019 Monday, October 14, 2019 10:20:00 AM CDT October 14, 2019 in News
JEFFERSON CITY - Moms Demand Action is partnering with Stop the Bleed Coalition to hold crisis first aid training on... More >>
13 hours ago Monday, October 14 2019 Oct 14, 2019 Monday, October 14, 2019 3:40:00 AM CDT October 14, 2019 in News
COLUMBIA - Maries County sheriff's deputies said a drunk driver was to blame in a fatal car crash from early... More >>
20 hours ago Sunday, October 13 2019 Oct 13, 2019 Sunday, October 13, 2019 8:46:00 PM CDT October 13, 2019 in News
COLUMBIA - Drivers on I-70 westbound saw 2 mile long delays around mile marker 124 when the Missouri State Highway... More >>
1 day ago Sunday, October 13 2019 Oct 13, 2019 Sunday, October 13, 2019 4:18:00 PM CDT October 13, 2019 in News
ROCHEPORT - The Missouri Department of Natural Resources said the number of people using the Katy Trail is down by... More >>
1 day ago Sunday, October 13 2019 Oct 13, 2019 Sunday, October 13, 2019 3:08:00 PM CDT October 13, 2019 in News
COLUMBIA - The CDC began monitoring the 2019-2020 flu season this weekend. And doctors are urging people to get their... More >>
1 day ago Sunday, October 13 2019 Oct 13, 2019 Sunday, October 13, 2019 2:55:00 PM CDT October 13, 2019 in Continuous News
COLUMBIA — Six Columbia churches had their first Sunday service with improved emergency health precautions on Oct. 13. The... More >>
1 day ago Sunday, October 13 2019 Oct 13, 2019 Sunday, October 13, 2019 2:00:00 PM CDT October 13, 2019 in News
HARSTBURG – Celebrating another fall season with pumpkin carving, hayrides and a straw maze, the 28th annual Hartsburg Pumpkin Festival... More >>
1 day ago Sunday, October 13 2019 Oct 13, 2019 Sunday, October 13, 2019 8:00:00 AM CDT October 13, 2019 in News
TOKYO (AP) — A heavy downpour and strong winds pounded Tokyo and surrounding areas on Saturday as a powerful typhoon... More >>
1 day ago Saturday, October 12 2019 Oct 12, 2019 Saturday, October 12, 2019 8:03:00 PM CDT October 12, 2019 in News
LILBOURN, Mo. (AP) — A small earthquake has been reported in southeastern Missouri. The U.S. Geological Survey says... More >>
1 day ago Saturday, October 12 2019 Oct 12, 2019 Saturday, October 12, 2019 7:41:00 PM CDT October 12, 2019 in News
COLUMBIA — One person died after a crash in Cooper County Saturday morning. Haven Pennington, 19, drove her Pontiac... More >>
2 days ago Saturday, October 12 2019 Oct 12, 2019 Saturday, October 12, 2019 4:55:00 PM CDT October 12, 2019 in News
There is 5:40 left in the game. North Kansas City's Ronaldo Calderon kicks a field goal to give the... More >>
2 days ago Saturday, October 12 2019 Oct 12, 2019 Saturday, October 12, 2019 12:36:00 PM CDT October 12, 2019 in News
JEFFERSON CITY — The dome of the Missouri Capitol building will be lit pink in honor of breast cancer... More >>
2 days ago Saturday, October 12 2019 Oct 12, 2019 Saturday, October 12, 2019 12:08:00 PM CDT October 12, 2019 in News
Columbia, MO
Broken Clouds 71°
6pm 64°
7pm 60°
8pm 59°
9pm 58°