Real diamonds are forever
DIAMONDS ARE A symbol of eternal love, not only because they are among the hardest substances around, but also because they are millions of years old.
But what if a two-carat pink diamond could be made in a week for less than US$5,000?
Synthetic diamonds are nothing new. Successful synthesis of diamonds dates back to the 50s, according to Yves Kerremans, director of HRD Research Antwerp.
'Natural and synthetic diamonds share the same physical and chemical properties as they both have a cubic crystal lattice consisting of carbon atoms,' Mr Kerremans said.
'The difference, however, is in their growth and storage history. Natural diamonds are unique and are often stored for millions of years at high temperatures.
'Synthetic diamonds, on the other hand, follow a standard 'recipe' and are removed from the presses as soon as their growth is accomplished. The growth patterns and defects present in natural and synthetic diamonds differ as a consequence,' he said.
About 3 billion carats of synthetic diamonds, worth US$1 billion, are produced a year, compared with 130 million carats of natural diamonds.
Production of synthetic diamonds had not affected the natural diamond market much, said Ashit Shah, senior executive manager of Diasqua, a Hong Kong diamond jewellery retailer.
'We sell bigger-sized diamonds of at least five carats. Our customers look for high-end, good-quality diamonds. They are willing to pay for natural diamonds. [They don't even consider] synthetic diamonds,' he said.
'The market of synthetic and natural diamonds does not overlap much. The intrusion of synthetic diamonds is not a problem for us at all.'
Diasqua sells natural diamonds only, but does sell some with treated colours.
'Natural diamonds with natural fancy colours are rare, but in huge demand. We sell some of these, and we sell treated fancy coloured diamonds. We also sell natural diamonds with their inclusions [flaws] removed by laser. But whatever we sell, we tell our customers clearly what it is.'
Lawrence Ma, president of the Diamond Federation of Hong Kong, said the diamond industry valued integrity. Full disclosure of the properties of a diamond with no ambiguity was the responsibility of diamond sellers.
'I have seen advertisements that blur the border between natural diamonds and synthetic diamonds with slogans like 'buy a diamond for one-third of the price',' he said.
'It is generally understood that the word diamond stands for natural diamond. These companies walk on the thin line between what is legal and illegal as defined by Trade Description Ordinance. But these are rare cases. Most Hong Kong diamond companies are honest.'
Last November, the Customs and Excise Department launched the Jewellery Integrity Campaign to promote industry-wide trading of genuine goods.
The campaign builds up a self-regulating mechanism among industry players through the adoption of clear trade descriptions in diamond retailing activities.
'Consumers have the right to choose. Synthetic diamonds are not bad as long as the consumers know perfectly what they are getting for the value.'
Mr Ma said he did not believe synthetic diamonds would be a big blow to the natural diamond market.
'Natural diamonds have somehow become a branded product. Its symbolic meaning is more valued than its physical or chemical properties and its appearance - just like girls wouldn't be pleased if they received a bunch of fake flowers. People might buy synthetic diamond fashion jewellery, but when they want to mark a special day like an engagement, they don't want a synthetic diamond.'
Antwerp is holding a symposium titled 'Diamonds in time: the evolution of treatments and synthetics' tomorrow at 2pm in meeting room 204-205, Hong Kong Convention and Exhibition Centre
Key Facts
Hong Kong Jewellery & Watch Fair
Opening dates and hours
September 18-22 10.30am-6.30pm
September 23 10.30am-5.30pm
Venues AsiaWorld-Expo (Sep 18-23)
Hong Kong Convention and Exhibition Centre (Sep 19-23)
Admission Free, trade only
Exhibitors 2,519 from 47 countries and regions
Exhibit profile Fine finished jewellery, diamonds, pearls, gemstones, jewellery timepieces, machinery, equipment and tools, packaging, publications and related services
Organiser CMP Asia
Website www.JewelleryNetAsia.com
ASIA'S FASHION JEWELLERY & ACCESSORIES FAIR
Opening dates and hours
September 18-20 10.30am-6.30pm
September 21 10.30am-5.30pm
Venue AsiaWorld-Expo
Admission Free, trade only
Exhibitors 320 from 17 countries and regions
Exhibit profile Fashion jewellery, fashion jewellery materials, fashion accessories
Organiser CMP Asia
Website exhibitions.jewellerynetasia.com