I’m often asked a pertinent question in the industry: “Why don’t you stock synthetic diamonds?” I usually reply that true love, or at least the kind that’s synonymous with engagement rings, deserves the true gemstone, not a copy – Mother Nature’s wonderful gift of beauty, which does not age, nor wither and die.
A diamond is forever. It is linked to wonderful stories of legendary love affairs, kingdoms, and world trade, along with both true and fictional tales of great heists.
Moguls, kings, queens, and movie stars have worn their diamonds as symbols of power, wealth and love.
Romance is what we sell, along with beautiful diamonds.
Diamonds have been used to write graffiti in panes of glass in castles and grand historical houses – declarations of love and poems of great devotion.
Queen Elizabeth I, whilst imprisoned in the lodge at Woodstock, is alleged to have scratched into a pane of glass using a diamond: ‘Much suspected by me, nothing proved can be, quoth Elizabeth prisoner.’
Young customers entering a jewellery store today, in many cases, have not had the pleasure to be served by a knowledgeable salesperson.
This can be quite a daunting prospect, but what we need to sell is what is advantageous about the purchase of a natural diamond.
Diamond, the king of all gems, gives us a multi-faceted glimpse into thriving economies as they speak the language of prosperity and opulence. Diamonds were traded along the Silk Road with all the luxury goods sought and lusted for at that time.
The East India Company took diamonds and made the diamond trade a global one. This global trade in diamonds brings great wealth to poor countries.
Botswana, which was formerly one of the poorest countries in Africa, had the fortune to discover diamonds in the early 1970s. This has given Botswana one of the fastest growing economies in the world.
Diamonds have brought a relatively high standard of living to its people – one of the highest in Africa. Botswana’s diamond production is second to only Russia’s.
Here in Australia, customers of all ages have superannuation and stock portfolios, many of which invest in mining companies around the world.
Among them are Rio Tinto, one of the world’s largest mining companies and the owner of Australia’s own Argyle Mine, and Alrosa, a Russian mining conglomerate that leads the world in diamond production by volume.
The money from these mines not only brings wealth to Australia as a collective nation, but also the individuals who have diverse investments.
When your customers ask you, “Why should I buy a natural diamond?” you can confirm with their superannuation provider that they may already be shareholders in diamond mines.
Their purchase indirectly financially rewards them, and many others, around the world.
Luxury goods and the companies that produce them have always made the effort to distance themselves from copies, fakes, frauds, scams and other assorted con-artistry, going so far as to launch large-scale legal proceedings to protect their names and trademarks.
The prestigious luxury jewellery companies have made it crystal clear: synthetic diamonds are copies, fit only for the purposes of ‘trendy’ jewellery.
The synthetic diamonds have a limitless production and thus lack the economic value that comes with scarcity.
This factor is the difference between paper money and gold.
Diamonds truly are the gold standard in jewellery and their synthetic counterparts are propagated entirely by the volatile fashion market, making them a poor long-term investment.
Families will not be fighting over who gets mum’s synthetic diamonds at the reading of the will.
There will be no great blockbuster movies made, nor bestselling books written about the great jewellery heist at the synthetic diamond factory.
We sell the real thing. Diamonds are forever and I can assure you, Marilyn Monroe never sang, “Synthetic diamonds are a girl’s best friend.”
Name: Louise McManus FGAA DipDT
Company: Akshmi Diamonds
Position: Manager
Location: Adelaide, South Australia
Years in Industry: 35