FTC’s Diamond Lexicon and Why It Matters To The Lab Grown Diamond Industry
Even though there are more people buying lab grown diamonds compared to the number of people choosing mined diamonds, a question frequently asked is ‘Are manufactured diamonds real?’
The answer to this question has been given by the Federal Trade Commission (FTC) — lab grown diamonds are real!
In this blog, we discuss the FTC’s rules on lab diamonds. Read on!
What is the FTC?
The FTC is an agency that deals with matters that affect American consumers. According to the FTC’s website, the agency has the power to “investigate and prevent unfair methods of competition and unfair or deceptive acts or practices affecting commerce. This creates the agency’s two primary missions: protecting competition and protecting consumers.”
The FTC had to make changes in the definition of diamonds. The earlier definition used the term ‘natural’ because before the invention of lab grown diamonds, the only type of diamonds available were mined from the earth. This change was made to ensure that definitions do not mislead consumers.
What does the FTC say about lab grown diamonds?
The FTC made many changes in the definition of diamonds in its jewelry guideline. While it restricted or prohibited the use of certain words from diamond vocabulary, it has given detailed explanations for those changes and conditions under which those words can be used to describe man-made diamonds.
The use of the word ‘cultured’
The FTC allows the use of the term ‘cultured’ in connection with lab grown diamonds. However, the word ‘cultured’ can be used only when it is accompanied by the words lab diamonds, laboratory diamonds, lab grown diamonds, or a word that references lab diamonds. However, this has been a contention. While some manufactured diamond brands are for it, others are against using this word. Hence, the FTC allowed the use of this word but with a mention of lab diamonds.
The word ‘synthetic’ can also be used
The word ‘synthetic’ was removed from the laboratory diamond lexicon. However, it can still be used. The FTC’s revised guide mentions that even though the term is prohibited, it can be used. For instance, marketers are allowed to use the word synthetic; however it should not imply that manufactured diamonds are not real, because they are real. When writing about lab diamonds, one must always mention that the gemstone was produced in a laboratory.
The word natural is removed from lab diamond lexicon
The FTC has removed the word ‘natural’ from terms used to refer to lab grown diamonds. Earlier there were only one type of diamonds – those mined from the earth. As these were produced naturally, diamonds were called a natural product. However, with the invention of man-made diamonds, the word natural has been removed from the diamond lexicon.
Here’s a chart that explains the distinction between lab made diamonds, mined diamonds, and cubic zirconia.
How FTC’s definition impacts lab made diamond consumers
According to the changes made by the FTC in the definition of diamonds, lab grown diamonds are real diamonds. The price of lab diamonds is at least 30 to 40% less than the price of mined diamonds.
While the definitions by FTC might worry the mined diamond industry, for conscious consumers and lab grown diamond manufacturers, it will have a positive impact, because lab diamonds are now considered real by definition.
There’s more to man-made diamonds than the lower price. Lab created diamonds are produced ethically in controlled environments, making them more appealing to conscious consumers. Man made diamond producers and jewelry brands are now able to confidently market their laboratory diamonds and jewelry as real without confusing buyers.
If you’re looking for man-made diamonds, you can choose lab diamonds without any hesitation as they are considered as real as mined diamonds. Whether you are a diamond retailer, a wholesaler, or an individual diamond connoisseur, explore a wide range of lab grown diamonds with Grown Diamond Corporation.
