Diamond Prices Are in Free Fall in One Key Corner of the Market

Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by conductr on Tuesday September 05, 2023 @06:32PM (#37398712)

Because the GEM Society is a business that wants to 1) continue grading diamonds and 2) begin cataloging lab diamonds. Both of which are revenue sources.

[ Parent | on HN ]

Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by Someone on Wednesday September 06, 2023 @09:44AM (#37405046)

The claim I replied to was (emphasis added)

> I think it's mandatory that every lab-grown diamond above a certain carat are laser-engraved

That’s not “diamonds that are lab-grown by GEM Society members”.

Why would it be reasonable to require anybody who’s not the GEM Society to engrave their products, so that the GEM Society can protect its source of revenues?

[ Parent | on HN ]

Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by conductr on Wednesday September 06, 2023 @01:58PM (#37408652)

I think you also mentioned “reasonable” and I’m pointing to the reason. You have to remember who makes the rules and also that this is an old business that’s rich with protected interests.

But there’s also a lot of concern about stolen jewelry and even diamond swapping for seemingly legitimate businesses. So, not too hard to make it also sound like it’s for the consumers best interest.

[ Parent | on HN ]