At Richdiam, we've made a conscious decision to exclusively work with natural diamonds and precious stones. Even though synthetic diamonds and gemstones are becoming ever more prevalent and affordable, we do not deal in them. Our reasons are simple: we care about our communities, our ecological impact, and our customers' wealth.
The natural diamond industry can be generalized in three main segments: the upstream, midstream, and downstream segments. The upstream refers to mining activities. Diamonds are mainly found in Western Africa, Southern Africa, Canada, Russia, and Brazil.
Mining for diamonds and other related activities create jobs in what are usually isolated and impoverished communities. These jobs help feed and educate thousands of families and improves their socioeconomic environment. Botswana is an excellent example of a country that has been able to uplift its standard of living significantly thanks to the diamond industry.
Midstream activities pertain to the manufacturing and wholesale dealing of loose diamonds. The midstream segment consists of diamond cutters, polishers, traders, graders, couriers, insurance agents, and the likes. These activities are concentrated in the diamond centers of the world: Antwerp, New York, Hong Kong, Tel Aviv, and Mumbai. In each of these places the midstream generates significant incomes on regional and national levels as well many jobs that help support local communities in these cities.
Downstream activities refer to diamond jewelry manufacturing, marketing, retail sales, administration, et cetera. Since most people tend to buy a diamond at least once in their lifetime for an engagement, this global demand for natural diamonds creates jobs and opportunities in every shopping district near you.
The ecological impact of synthetic diamonds cannot be understated: diamonds are formed under immense pressure and heat, when this environment is recreated in a laboratory it requires massive amounts of electricity. Usually these synthetic diamonds are made in countries with low energy costs that are often reliant on coal and other fossil fuels and do not have good labor practices.
We also care about your wealth: for thousands of years powerful historical figures have used diamonds and other gemstones as a store of wealth and a symbol of power. Regular commercial diamonds will have a resale value of at least 50% and up to 80% of the retail price. So if ever you'd be in a stressful financial situation, you can always sell your diamond and recuperate a large part of the paid amount. In some cases and in longer terms, diamonds also appreciate in value. This is especially true for rare larger sized fancy colored diamonds. In comparison to natural diamonds, synthetic diamonds have little to no resale value. Even though synthetic diamonds are cheaper to buy, you will not be able to recuperate any significant amount if you ever decide to sell it.
If you have any further questions about our natural diamond policy, we invite you to schedule a commitment free 30 minute consultation with one of our team members.