It is well-known that lab-grown diamonds are in great demand today. The current trend is showing that most millennials buy lab-grown diamonds for their engagement rings instead of mined diamonds these days. The ethical and environmental issues surrounding mined diamonds are one of the main reasons for the increasing popularity of lab-grown diamonds.
Many diamonds companies have started to manufacture their lab-grown diamonds. Since they are cheap, the companies believe that more people who couldn’t afford to buy a diamond would be ready to buy lab-created diamonds.
Here are some of the important things that you should consider when selling your lab-grown diamonds.
Carefully Select Your Partners
Many lab-grown diamond enterprises are cropping up around the world, with some having more ethical practices than others. As a result, you need to make sure you’re dealing with a lab-grown diamond provider who adheres to the FTC’s Jewelry Guides in terms of disclosure, works with competent cutters, and has some durability and business expertise. The vendors who have agreed to take part in the VDB App are a good starting point.
Separate Your Inventory Into Categories
Do not store your lab-grown diamonds with mined diamonds because they could get mixed and sorting could become very difficult. It is always better to separate your inventory into categories. An untrained eye can’t tell both mined and lab-grown diamonds apart due to the similarity in their chemical as well as physical forms.
Read The Guidelines
The FTC Jewelry Guides include vital information on how to sell and advertise lab-grown diamonds, as well as a variety of other useful information for running a legal jewelry business.
Buy A Lab-Grown Diamond Detection Device
Buy a lab-grown diamond identification instrument so you can spot one instantly. Even if your company is not selling lab-grown diamonds, this is something that all diamond merchants and distributors should consider. It can make their job easier.
Choose The Right Vocabulary
You wouldn’t want your staff to use a variety of words when referring to lab-grown diamonds. Adhere to the terms that work best for your company, such as lab-grown, man-made, and synthetic. Since the law requires you to distinguish between lab-grown diamonds and natural diamonds in a way that is evident to your buyer, think about both marketing ramifications and the clarity of the phrase you use.
Train Your Staff
It is important to train and educate your staff on lab-grown diamonds because they have to answer every question the customers have on lab-grown diamonds.