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Here’s What Stuller Thinks About the Future of Lab-Grown Diamonds

Published

7 years ago

July 18, 2016

INSTORE Staff

Jewelry manufacturer began offering synthetic diamonds earlier this year.

Speaking with Rapaport, Stanley Zale, VP of diamonds and gemstones at Stuller, explains how his company views the future of synthetic diamonds, which the jewelry manufacturer recently announced it would begin offering.

The news outlet asked Zale: “Do you agree with the view that lab-grown diamonds will lose value as supply increases?”

Zale responded: “I don’t know what’s going to happen with the value, but I believe in the laws of supply and demand. If the price of lab-grown diamonds goes down so much that they become worthless, people will stop manufacturing them. Over time, a correct level will be found.”

Rapaport News also asked: “How do you respond to claims that lab-grown diamonds are a more ethical product than natural diamonds?”

Zale’s response: “The industry needs to do a better job telling the diamonds-do-good story. The value of lab-grown diamonds is derived from the value we place on natural diamonds. Therefore, talking down natural diamonds or saying lab-grown diamonds are a more virtuous alternative does not help. We’re not claiming that its eco-friendly or better than anything else. We’re just trying to give our customers what they might want. It’s not our place to make judgements about what someone puts in a piece of jewelry as long as it’s reasonable.”

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”