Las Vegas, Nevada, A new record was achieved and announced this month at the JCK JEWELRY SHOW, held at the Sands and the Venetian in Las Vegas. An eye-popping 50 carat emerald cut Lab-grown diamond became the main attraction at the show.
JCK Las Vegas draws over 30,000 jewelers and attendees from 130 countries and showcases the latest products in the Gem, Diamond and Jewelry Industries. “All the talk is about Lab-grown diamonds” commented Avi, a wholesale jeweler from New York’s 47th street.
The 50.25 carat classic emerald cut was certified as a G color, VS2 clarity by IGI, the International Gemological Institute. The enormous rock was Lab-grown and Produced by Ethereal Green Diamond in Mumbai, and was sold for an undisclosed amount, and named “The Shiphra Diamond”. The new owner is Shiphra Jewelry from Switzerland. The company claims to be the first high-end jewelry brand that creates its pieces exclusively with the use of laboratory-grown diamonds.
LAB GROWN DIAMOND WAVE
A sea of Lab -grown Diamonds is hitting the market, and Retailers, wholesales and manufacturers are scrambling to ride the wave! Record breaking Lab-grown diamonds have been announced as recently as one month ago with a 34.59 carat emerald cut by lab diamond giant MAITRI in INDIA.
In 2022, a RUSSIAN Company declared the Lab-grown diamond record with a 16.04 carat rock, followed by a CHINESE grower and cutter, Shanghai Zhengshi Technology Co. Ltd., announcing the record with a 16.41 carat princess cut Lab-grown diamond stunner shortly thereafter.
TRENDS
New research shows that 1 of every 3 engagement rings in the US now has a Lab-Grown diamond center stone. They are being embraced as affordable luxury options and environmentally friendly ways to show love and commitment. Love comes in all flavors and sizes, so upgrades have been the rage at many independent jewelry retailers. “Ladies are wanting to upgrade or trade-in their engagement ring that may feature a small half or one carat natural diamond center, and Super Size it to a 4 or 5 carat Lab-grown diamond to fulfill her fantasy dream ring!” said Jim Roberts, a mid-west retailer at the show that was looking for large center lab stones. “The wife is ecstatic, the husband is happy that he saved tens of thousands, and we are happy making a healthy profit instead of a razor thin margin on an expensive mined diamond. It’s a win, win, win” he added!
We were also in Las Vegas, so he may have been a bit excited with all these diamonds and casinos around!
