The Natural Diamond Council (NDC) has released a new report that debunks some of the myths and misconceptions about the diamond industry and provides valuable insights for buyers who are interested in investing in natural diamonds. The report, titled ‘Diamond Facts: Busting Myths About the Diamond Industry’, covers various aspects of natural diamonds, such as their sustainability, ethical sourcing, pricing and quality, and compares them with lab-grown diamonds, which have been gaining popularity in recent years.
According to the report, natural diamonds are more sustainable, ethical and valuable than lab-grown diamonds that are manufactured in a matter of weeks using a highly energy-intensive process that relies on fossil fuels and emits greenhouse gases. The report also reveals that the price of lab-grown diamonds has dropped by over 74% in the last six years, while the price of natural diamonds has increased by an average of 3% annually, making natural diamonds a more stable and long-term investment option.
The report also highlights the importance of verifying the quality and origin of diamonds, as lab-grown diamonds are required to be disclosed as such by law and can be easily detected by professional instruments. The NDC has partnered with key players in the GCC region, such as Al Jawhara and La Marquise, to ensure greater transparency and traceability in the diamond supply chain and to educate consumers about the benefits of natural diamonds.
The report comes at a time when the UAE has announced a 100% resale value on diamonds, which is expected to attract more buyers from different age groups and backgrounds. The NDC aims to promote the natural diamond industry as a source of social and economic development, as well as a symbol of love, beauty and rarity.
Tawhid Abdullah, CEO of Jawhara Jewellery & Chairman of the Dubai Gold & Jewellery Group (DGJG) stated, “At Jawhara, we firmly believe in the unparalleled allure and enduring significance of natural diamonds. And so we have partnered with NDC, an organisation that shares our commitment towards promoting these wonders of nature. We support the Diamond Facts report released by NDC, as it is helping create transparency and dispel common myths in the industry. Our common goal is to empower the consumer in the GCC to make informed choices when it comes to purchasing natural diamond jewellery.”
Nishith Shah, CEO of La Marquise Jewellery added, “La Marquise jewellery was created for the young, informed ‘glocal’ consumer and to fulfil their desire for exquisite, exclusive natural diamond jewellery. As a brand, we have collaborated with the Natural Diamond Council as we both believe in the significance and beauty of these precious gems. We are very happy to promote the NDC’s Diamond Facts report as it dispels misconceptions and offers real, fact-based information to the GCC consumer on both natural diamonds and lab-grown diamonds, leading them to making an educated choice.”
Richa Singh, Managing Director – India & Middle East, NDC, said, “Today’s consumer is making conscious, mindful choices, and are looking for reliable, trust-worthy and transparent information. At Natural Diamond Council, one of our key missions is to inspire, educate and protect consumers from misinformation. The ‘Diamond Facts’ was launched with the objective of busting myths and clarifying misconceptions about diamonds, and advancing the integrity of the modern diamond industry. We are happy about the positive response we have received in the GCC region and will continue to work towards building the diamond dream here, and across the world.”