Wednesday, December 4, 2013

Martin Rapaport Addresses Synthetic Diamonds

Martin Rapaport, the chairman of the Rapaport Group,  has just released an editorial relating to synthetic diamonds. The editorial entitled “Sinthetics” defines measures that the diamond industry must take to ensure the integrity of diamonds and the diamond trade.

Rapaport defines the 4-D’s: Differentiation, Detection, Disclosure, and Documentation, and calls upon the trade to sample test diamonds before delivery to retailers. He says, while documentation on invoices stating that diamonds are natural is important, it is not sufficient. Trust without verification is unacceptable and dangerous. Rapaport calls on the diamond mining sector to increase consumer education about natural diamonds so that they may be properly differentiated from synthetics.

“The integrity and ethics of the diamond trade is being tested by firms that sell synthetic diamonds as natural. Retailers must investigate their sources, confirm the authenticity of their diamonds and take full responsibility for what they buy and sell. Natural diamonds can and should be authenticated and differentiated. As long as the trade is honest, demand and prices for natural diamonds will not diminish due to synthetics. Real diamond demand is not about cheap synthetic prices, it’s about the authenticity of the diamond and the relationship between people. Women want the real thing,” said  Rapaport.

“Sinthetics” by Martin Rapaport is published in the December issue of the Rapaport Magazine.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.