People are fond of diamond jewelry, necklaces, rings, etc., and all other diamond accessories from ancient times. Although all classes of people love diamonds, very few know the story behind their marketing and distribution. In this article, we will know about some of the inside stories of the diamond market and the stories related to GIA and IGI.

Inside story

Since the arrival in the world market, lab-grown diamonds have been the topic of debate among buyers and sellers. Unlike natural diamonds, lab-grown diamonds have characteristics that are modified and restructured. Lab-grown diamond's methodology and standards are different from natural diamonds. The Gemological Institute of America (GIA) didn’t even certify the lab-grown diamonds when they appeared in the world market. According to the GIA, back then, lab-grown diamonds lacked the authenticity and the marketing value that natural diamonds possessed. While the International Gemological Institute (IGI) kept on producing and structuring lab-grown diamonds, the GIA insisted on focusing on the development of natural diamonds. For the past few decades, the development of natural diamonds has become limited due to its mining procedure and environmental challenges. On the other hand, lab-grown diamonds have continued to develop their infrastructural characteristics and re-shaping ability. Thus, lab-grown diamonds captured the world market fast and their production level rose higher every day for the last decade. The GIA was hoping to re-establish the natural diamond reign in the world again. But the production rate of the natural diamonds fell behind compared to the lab-grown diamonds. The IGI has been developing various colored and re-shaping diamonds for all classes of people for marketing purposes and their marketing strategy worked very well. They distributed re-usable and re-structuring diamonds to the distributors and the buyers. Thus, the GIA’s effort to devalue the lab-grown diamonds didn’t work. And, they finally certified lab-grown diamonds.

Conclusion

The GIA is finally collaborating with the IGI. This collaboration will transform the people’s perspective towards lab-grown diamonds forever.