GemThoughts

The last two posts covered scenarios that I think are totally possible, even probable, as we move further into a time of declining production of diamonds and increasing production of MMDs - man-made diamonds. Until relatively recently, MMDs were too often the means for people to realize extra profits by deceiving buyers.  Even experts cannot detect MMDs without special equipment, and for years no such equipment was available.  Yes, labs could detect MMDs, but it is very safe to assume that only a tiny percent ever got that far - most MMDs are smaller stones.  In addition, productions were so small, that finding them was more by accident then by a directed search. I recall being told years ago that a New York based lab found MMDs because a major auction house checked all diamonds being auctioned, mounted or loose, as a matter of course.  I have never heard of any other company doing that. Of course, diamond "imitations" have been around a long time.  There...

Last week I posted a blog covering the first of the three tipping points for man-made diamonds (MMD's), moments when MMD's will have dramatic effects on the diamond business.  (If you have not read it, I suggest doing so before going on with this blog.) No sooner had I posted tipping point 1 , when news came out that a very high quality 10-carat diamond was produced by New Diamond Technology, a Russian company claiming that they possess a new process that is far more efficient.  They claim it took them 300 hours to create this stone, which was cut from a much larger piece of rough, over 30 carats.  Let's see, 300 hours is 12.5 days for a 10-carat diamond.  Whether is was a promotional effort of regular production, most miners would love to have a finished 10-carat high quality stone every ten days. Then I read that both Helzberg's and Sam's Club, each of whom address somewhat different market segments, are both offering larger diamonds in pink, yellow and whit...