To all the dealers trashing Lab Diamonds

[Rockdiamond]

The lab diamond industry is really pushing how unethical it is to buy mined, without ever mentioning the ethics and human rights violations that come from countries like China- the largest manufacturer of labs, and the biggest contributor to carbon emissions.

All the arguments for labs just feel very disingenuous to me. I don't care why someone buys a lab, but don't pretend they're morally superior for it, they are not.

First off, I totally agree. I have noticed certain lab diamond sellers advertising the product on the basis of it being environmentally superior. Balderdash. As has been mentioned, we really don’t know the full story yet.
But, my perspective as a dealer …..the attacks on lab diamonds are coming from a well oiled machine as opposed to a retail seller making outrageous claims.
Theres no “Rappaport” of lab diamonds. It’s like the freakin Wild West.

 

[smitcompton]

Hi,
I think we ought to be prepared for the competitors EMD vs LGD to point out differences anywhere they can. The EMD people have a large investment at stake. Can you blame them?
Rockdiamnd, you said Rappaport has not changed his prices on diamonds for the last three months. So, I checked, not Rappaport but those diamond stats I like to look at from Pricescope. The 1-2 carat categories have increased in price thru Dec1. The surprise to me is that 3 and 4 cwt stones have fallen in Nov 12% and in Oct 8%. This is exactly the opposite of what I expected. So Rappaport may be correct.

In my news feed there was an article of what happened to rising diamond prices during the pandemic. Inflation and all the other events caused diamond prices to increase 25%. Texas Leaguer Justifies the increase by fails to account for why White Flashes prices seem to me to have gone up 100%, I suspect that now that white flash has a jewelry store that opened recently, it now has costs associated with this newer venture that must be met and so increases diamond prices under te guise of inflation and supply problems. Who believes there are supply problems.? With increases like these the lab diamond market can flourish. It is the opening needed, but the EMD dealers have contributed to this immensely. I don't think you can shut the barn door anymore.
I say face it, Lab diamonds are a good alternative They may continue to fall in price but they look great. No need to disparage anyone who chooses either.

It pains me to say this, but I think White flash is very overpriced and you experts should branch out to find new choices for consumers. They are getting rich off of you. IMO..

Annette

 

[Rockdiamond]

HI @smitcompton !
Regarding the price chart.... I'm sure there's valuable info to be gleaned....but my perspective is sitting in the middle of the market. Buying and selling. Carat size stones are down. In general.
Maybe there's a way to filter the info that shows increases in specified segments- it's totally possible, especially considering December Christmas sales.
The market overall is down. Full Stop.

I'd also take issue with categorizing Bryan in the way you have.
In my experience, he's very transparent, knowledgeable, and well informed in his postings. I'm sure he'll respond to your points.\

In general: I do a lot of diamond shopping online, so I have a feel for the market.
There are some very cheap prices being offered by some sellers. They're also offering less service.
I know that from my perspective if I had to strip away all the nice things we do as part of Diamonds by Lauren that cost some money- all in the effort of being the cheapest....I wouldn't do it. You'll never win trying to be the cheapest.
I can't speak for WhiteFlash, but as an observer, I find them to be an excellent online seller- among the best.
I would not expect them to be the cheapest.

 

[Betty Baguette]

I believe we're going to reach a critical mass that soon tips the scales strongly in favor of lab grown engagement ring stones. As more and more young American women are excitedly announcing their engagements with 4-5 carat (lab grown) stones that their fiancés can easily afford, there will be pressure on their friends to buy similarly sized rings. There's massive peer pressure in this age group. Who wants to be the only one with a 1 carat (albeit mined) pebble when everyone else is flashing massive boulders? Especially when no one really knows if those boulders are lab or mined.

I don't think much about lab vs. mined prices because my interest is antique/vintage jewelry. So I was shocked yesterday when I saw the huge stones recently posted in
"Show me the Bling - the Laboratory Grown version!".

I think this is the future of diamonds.

 

[nala]

I believe we're going to reach a critical mass that soon tips the scales strongly in favor of lab grown engagement ring stones. As more and more young American women are excitedly announcing their engagements with 4-5 carat (lab grown) stones that their fiancés can easily afford, there will be pressure on their friends to buy similarly sized rings. There's massive peer pressure in this age group. Who wants to be the only one with a 1 carat (albeit mined) pebble when everyone else is flashing massive boulders? Especially when no one really knows if those boulders are lab or mined.

I don't think much about lab vs. mined prices because my interest is antique/vintage jewelry. So I was shocked yesterday when I saw the huge stones recently posted in
"Show me the Bling - the Laboratory Grown version!".

I think this is the future of diamonds

I think you are right in that no one can distinguish between a natural and lgd,but rocking anything over a 3 carat these days, over a 2 if the couple is super young—is an indicator that the ring is a lab. That is why many lgd buyers choose to keep the size at a “credible” size.

I would not bet that the future belongs to lgd based on their affordability and accessibility. A lot of people do not appreciate what comes too easily. Think about moissanite. Yes, on PS, most can spot them a mile away. Even a cubic zirconia. But for the world at large, these 2 stones are indistinguishable from afar. If people really wanted big and cheap, these two stones would be the go-to. I think lgd is a fad. Will die down when they are everywhere—and their price plummets like moisannite.

 

[MissGotRocks]

Hi,
I think we ought to be prepared for the competitors EMD vs LGD to point out differences anywhere they can. The EMD people have a large investment at stake. Can you blame them?
Rockdiamnd, you said Rappaport has not changed his prices on diamonds for the last three months. So, I checked, not Rappaport but those diamond stats I like to look at from Pricescope. The 1-2 carat categories have increased in price thru Dec1. The surprise to me is that 3 and 4 cwt stones have fallen in Nov 12% and in Oct 8%. This is exactly the opposite of what I expected. So Rappaport may be correct.

In my news feed there was an article of what happened to rising diamond prices during the pandemic. Inflation and all the other events caused diamond prices to increase 25%. Texas Leaguer Justifies the increase by fails to account for why White Flashes prices seem to me to have gone up 100%, I suspect that now that white flash has a jewelry store that opened recently, it now has costs associated with this newer venture that must be met and so increases diamond prices under te guise of inflation and supply problems. Who believes there are supply problems.? With increases like these the lab diamond market can flourish. It is the opening needed, but the EMD dealers have contributed to this immensely. I don't think you can shut the barn door anymore.
I say face it, Lab diamonds are a good alternative They may continue to fall in price but they look great. No need to disparage anyone who chooses either.

It pains me to say this, but I think White flash is very overpriced and you experts should branch out to find new choices for consumers. They are getting rich off of you. IMO..

Annette

@smitcompton, not sure which jewelry store that Whiteflash opened you are referring to? They do have a brick and mortar place but I visited there in 2018 and it had been opened sometime before I was there. To my knowledge, that place encompasses their whole operation. Unless there is another place that I am not aware of, I don’t think that accounts for their pricing. We do know that they specialize in super ideal cuts and that cutting them results in more diamond material being lost in that process. I don’t think comparing their one carat stones to more generic stones is a fair comparison. Cut quality costs more money - plain and simple. As to how and why and when they price their merchandise, you would have to ask them directly. I do know that I have seen diamond prices on certain diamonds rise and fall and sometimes rise again. I assume it is due to market fluctuation. They too are now selling lab diamonds.
I think if you listen to diamond dealers that do this work every day, they will tell you that the diamond market is in uncharted territory these days. We can all guess and predict the future, but they will be just guesses and predictions. Will be interesting to see how things have played out a year from now.

 

[smitcompton]

@smitcompton, not sure which jewelry store that Whiteflash opened you are referring to? They do have a brick and mortar place but I visited there in 2018 and it had been opened sometime before I was there. To my knowledge, that place encompasses their whole operation. Unless there is another place that I am not aware of, I don’t think that accounts for their pricing. We do know that they specialize in super ideal cuts and that cutting them results in more diamond material being lost in that process. I don’t think comparing their one carat stones to more generic stones is a fair comparison. Cut quality costs more money - plain and simple. As to how and why and when they price their merchandise, you would have to ask them directly. I do know that I have seen diamond prices on certain diamonds rise and fall and sometimes rise again. I assume it is due to market fluctuation. They too are now selling lab diamonds.
I think if you listen to diamond dealers that do this work every day, they will tell you that the diamond market is in uncharted territory these days. We can all guess and predict the future, but they will be just guesses and predictions. Will be interesting to see how things have played out a year from now.

Hi,
I was waiting for you to chime in.

Several yes ago when I was looking for studs, I found Brian Gavin to be much higher in price than other vendors that people on pricescope recommend. I said as much. Several months later a prosumer said the same thing. Since that time Brian Gavin prices have moderated and he no longer is the most expensive. Contrary to what Rockdiamond has said, I do not advocate going to the cheapest, but do not think that going to the most expensive is smart.

Many vendors on pricescope have told us for years that their margins are very slim, which of course is to have you think that you are getting the best deal. No one makes these claims in the colored stone section as we all know vendors must make a living. No one disagrees with this and I normally don't care if someone gets rich. I do care when they cry poor,(just eeking out a living). but keep raising their prices as whiteflash has done. You see the stones I looked at have doubled in price. It was as much a shock to me as when I learned that the F150 truck was selling for $75,000.
I know Whiteflash has been a good company for many. But things change. A store opened in 2018 takes time and money to be successful. I dont just think, I know it brings up costs. Those new costs have to be met somehow. Higher prices. Just one store can do it. Five years is still a new business.

Are we also now stating that Rappaport isnt reporting decreases in diamond prices. His reputation is at stake. Its hard for me to believe especially when pricescopes charts and graph also show no decreases in 1-2 ctw diamonds.

This morning on the business channel it said Christmas sales are up from last year except in 2 categories. Jewelry and electronics. We will know more as companies report their earnings.

I very much like Texas Leaguer. He is a gentleman . I just see what I see. Perhaps my phrasing of "getting rich from us", was a bridge too far. Sorry!

Annette

 

[MissGotRocks]

Hi,
I was waiting for you to chime in.

Several yes ago when I was looking for studs, I found Brian Gavin to be much higher in price than other vendors that people on pricescope recommend. I said as much. Several months later a prosumer said the same thing. Since that time Brian Gavin prices have moderated and he no longer is the most expensive. Contrary to what Rockdiamond has said, I do not advocate going to the cheapest, but do not think that going to the most expensive is smart.

Many vendors on pricescope have told us for years that their margins are very slim, which of course is to have you think that you are getting the best deal. No one makes these claims in the colored stone section as we all know vendors must make a living. No one disagrees with this and I normally don't care if someone gets rich. I do care when they cry poor,(just eeking out a living). but keep raising their prices as whiteflash has done. You see the stones I looked at have doubled in price. It was as much a shock to me as when I learned that the F150 truck was selling for $75,000.
I know Whiteflash has been a good company for many. But things change. A store opened in 2018 takes time and money to be successful. I dont just think, I know it brings up costs. Those new costs have to be met somehow. Higher prices. Just one store can do it. Five years is still a new business.

Are we also now stating that Rappaport isnt reporting decreases in diamond prices. His reputation is at stake. Its hard for me to believe especially when pricescopes charts and graph also show no decreases in 1-2 ctw diamonds.

This morning on the business channel it said Christmas sales are up from last year except in 2 categories. Jewelry and electronics. We will know more as companies report their earnings.

I very much like Texas Leaguer. He is a gentleman . I just see what I see. Perhaps my phrasing of "getting rich from us", was a bridge too far. Sorry!

Annette

I always respect your opinion and points of view. You may be correct on many levels; I just don’t know it for sure. The fluctuations I have seen on the Whiteflash website could be attributed to the cost they paid for a diamond, market fluctuations that cause a rise and fall and sometimes another rise, or what they consider to be a fair price. I just don’t know how their pricing works. As a consumer, I can only judge by availability of something I am interested in or the asking price. Brian Gavin’s prices still seem higher to me and their in stock availability low. They publish sales - higher prices and then discounts - whereas WF does not offer specials. I felt like Gavin pushed lab sales harder as well. While I understand that lab sales are higher these days, I think these companies also need to remember that it has been the natural diamond market that brought them where they are today. I guess though, in all fairness, that loyalty takes a backseat to profit. They all must profit somehow or just cease to exist.
I don’t know exactly when WF opened their storefront. I was there in 2018 and it had been up and running for quite sometime. I don’t know whether the storefront or online sales dominate their business. I got the impression that the storefront was probably by appt. only as people were not going in and out like they would at a regular retail store. Again, just my impression but I know nothing about any of it for fact. I just know that they have provided me the opportunity to buy some first water quality cut diamonds that I have loved and enjoyed. Quality costs money and I don’t believe there are really any deals in diamond jewelry. Price slashing was obviously not their business practice and I appreciated that too. Their customer service is stellar as well and that means a lot to me. I had the privilege of meeting Texas Leaguer and he is as much a gentleman in person as he is online. Their staff is warm and down to earth - like chatting with old friends. A far cry from other jewelry folks I have dealt with in the past.
I don’t know where this all ends up; it has been unsettling indeed for all concerned. I am just thankful that these vendors on Pricescope have thus far been able to hold their own. I hope they continue to be successful in the future!

 

[smitcompton]

I always respect your opinion and points of view. You may be correct on many levels; I just don’t know it for sure. The fluctuations I have seen on the Whiteflash website could be attributed to the cost they paid for a diamond, market fluctuations that cause a rise and fall and sometimes another rise, or what they consider to be a fair price. I just don’t know how their pricing works. As a consumer, I can only judge by availability of something I am interested in or the asking price. Brian Gavin’s prices still seem higher to me and their in stock availability low. They publish sales - higher prices and then discounts - whereas WF does not offer specials. I felt like Gavin pushed lab sales harder as well. While I understand that lab sales are higher these days, I think these companies also need to remember that it has been the natural diamond market that brought them where they are today. I guess though, in all fairness, that loyalty takes a backseat to profit. They all must profit somehow or just cease to exist.
I don’t know exactly when WF opened their storefront. I was there in 2018 and it had been up and running for quite sometime. I don’t know whether the storefront or online sales dominate their business. I got the impression that the storefront was probably by appt. only as people were not going in and out like they would at a regular retail store. Again, just my impression but I know nothing about any of it for fact. I just know that they have provided me the opportunity to buy some first water quality cut diamonds that I have loved and enjoyed. Quality costs money and I don’t believe there are really any deals in diamond jewelry. Price slashing was obviously not their business practice and I appreciated that too. Their customer service is stellar as well and that means a lot to me. I had the privilege of meeting Texas Leaguer and he is as much a gentleman in person as he is online. Their staff is warm and down to earth - like chatting with old friends. A far cry from other jewelry folks I have dealt with in the past.
I don’t know where this all ends up; it has been unsettling indeed for all concerned. I am just thankful that these vendors on Pricescope have thus far been able to hold their own. I hope they continue to be successful in the future!

Hi,

I just want to say that I do really value your opinion. To me, you are one o the most sensible people on here. Thanks for replying. I think this changing industry is very interesting to me. Not all topics catch my interest.

Annette

 

[MissGotRocks]

Hi,

I just want to say that I do really value your opinion. To me, you are one o the most sensible people on here. Thanks for replying. I think this changing industry is very interesting to me. Not all topics catch my interest.

Annette

Thank you - let’s just say that we have a mutual admiration association. It is interesting though diamond purchasing has always been so for me. I was engaged 47 years ago yesterday and my upgrade journey started about ten years thereafter. I have heard so much stuff from so many sellers of diamonds! Always going to give you a deal, don’t wait as three other people are interested in this, we have our own mine and cut out the middle man, you won’t beat this quality or price, yada, yada, yada. Pricescope helps wade through all that verbage garbage and I am forever indebted to this site.
We will just keep watching and waiting to see where this all ends up!!

 

[Rockdiamond]

Are we also now stating that Rappaport isnt reporting decreases in diamond prices. His reputation is at stake. Its hard for me to believe especially when pricescopes charts and graph also show no decreases in 1-2 ctw diamonds.

Hi Smit! Part of my initial posting- the point is that Rappaport is staking his reputation on trashing lab diamonds. He says they're worthless. He points out that "Only a real diamond signifies love" ( his words)- and he's been extremely vocal about this....all the while, sticking his head in the sand regarding the easily recognizable effects on the natural diamond market.
If you- or any readers are looking to buy 1-2 carat, natural diamonds, expect to pay less than last year.
I'm basing my assessment on actual trading in the actual market over the past few months. The market is much softer than last year- across the board. Some articles are more affected, but the decline goes across the board. The only possible exception I can think of might be certain specialty cuts.

 

[Karl_K]

When Rap prices were lowered to reflect reality the sellers on Rapnet went stark raving mad and threatened to abandon the platform.
He caved and everyone just pretended that release did not exist.
So now from what I have heard the prices are unrealistically high but the percentage off has increased. The end results are lower out the door prices but the fiction of diamonds keeping value lives on.
So a lot of the industry chose to climb the mast of a sinking ship and yell values are steady.

 

[nala]

Is this for real? Are these genuinely lgd?

 

[Ibrakeforpossums]

eBay, anybody's guess.

 

[nala]

eBay, anybody's guess.

Ebay protects buyers more than sellers. I would venture to say they have to be somewhat legitimate? The point is, these diamonds are flooding the lgd market. They are from India.

 

[0515vision]

A 95.7% rating in EBay is *not good,* so I went digging.

Several buyers wrote that the “diamonds” actually test as moissanite. The same seller also sells “topaz,” and three reviewers said they received glass. I’m sure their “certification” isn’t part of our beloved alphabet soup.

 

[Rockdiamond]

Here's a sterling recommendation...hahahah.
I guess anything is possible but there's a lot of red flags. I've already had the experience of buying a knee massage machine from overseas. It was a piece of junk- but the return shipping was more than I paid for it. It's quite possible this is some sort of similar setup.
Nothign I'm seeing at the wholesale lever would justify that price, unless it's a truly defective stone- which is also possible. There are a lot of bad LGD's out there

 

[nala]

In the lgd market, price is the bottom line. Lots of these vendors. Lots of sales.

 

[Ibrakeforpossums]

I may have purchased from them, or maybe the seller's brother-in-law. Ended as a return.

 

[oncrutchesrightnow]

Buying from a domestic seller makes returns easier but does not guarantee a domestic setting or stone.

I recommend buying cheap only if the returns are easy or you can afford to lose the money.

If there were a time warp and I did not start collecting until 2025, my diamond collection would probably be mostly LGD, with my only EGD being the ones given to me as gifts plus a few weird specimens like my brown-pink.

ETA since I started collecting in 20PL* or so, and I am so close to having every traditional diamond shape, I still feel committed to getting the last two shapes (heart and pear) in EGD.

*PL = pre-mainstream adoption of LGD. Anybody want to decide on exactly what year that was?

 

[Ibrakeforpossums]

2018?

 

[Betty Baguette]

If they are not considered costume jewelry, why not keep and cherish them?

I'm guessing they're selling these cultivated diamonds because, with the price drops, they can now afford to buy much bigger stones. (Not because they consider them to be costume jewelry, which of course they aren't).

 

[AprilBaby]

Look what the industry is doing to people.

Parts of this industry has decided to go full bore on deriding people's feelings about the people they love, more baldly put the price tag on it. They had cultural pressure to push debt, and if you couldn't well that's just too bad you're lower class. Work harder, save longer, take the loan, but remember it's not an investment! Aspirations melding into poison. We turn that inward and then we push it outward to the nearest targets. Each other.
So, this part of the industry decides to say it isn't real or it's not the same caliber because they can't afford or choose a different way to express. All tornadoed around material. Love = material. That is ugly, but somehow culturally acceptable. Echoed in different ways. That made many very resentful and because it's harder to direct that hurt at an industry, a monolith, they wrongly direct it at people. Millions have felt less than because of a technically voluntary, and in the end exclusionary practice that has been driven into our heads and culture. For carbon. The most common material on the planet, the primary building block of life. But we give, collect and wear chunks of it to feel special. For distinction that imparts huge amounts of information in a literal flash. It's only a little over two hundred years old for the hoi polloi, really ramped up in the last hundred+ years or so. If we're being honest this board was built on it. You can't escape it. It's the beauty of the irrational human.
For the first time there's also a bit of seismic sudden equanimity happening. It's threatening on a subconscious level. It's no surprise that there is deep seated resentment and defensiveness that is flowing in both directions.
They are saying the quiet part out loud.

Sneetches. Sneetches all the way down. And the industry knows it.

Here’s a short film about where our unused and discarded clothing ends up.

What’s the relevance? Well - it’s not just Walmart cast-offs that end up here. It’s also designer merch that didn’t sell, or that’s being deliberately destroyed to prevent unauthorized resale or preserve artificial scarcity. Stuff that’s worth hundreds or even thousands of dollars.

It’s as disconcerting as it is short. Like the one bit where workers posit that water for laundry must be very expensive in these foreign worlds - and that must be why everyone’s chucking so much perfectly good stuff.

Lab diamonds: Commodities that are gaining popularity by the heartbeat - more than any other synthetic gemstone. Minimal intrinsic worth beyond the time and cost of manufacture. More can be made - indefinitely. Already entering the world of fast fashion. Yes, they cost hundreds or thousands of dollars… So do designer clothes. What will the Panipat of lab diamonds look like? And at least these clothes are made back into thread. How does one reuse gemstones?

They send all the leftovers to me!

 

[Texas Leaguer]

Hi,
I think we ought to be prepared for the competitors EMD vs LGD to point out differences anywhere they can. The EMD people have a large investment at stake. Can you blame them?
Rockdiamnd, you said Rappaport has not changed his prices on diamonds for the last three months. So, I checked, not Rappaport but those diamond stats I like to look at from Pricescope. The 1-2 carat categories have increased in price thru Dec1. The surprise to me is that 3 and 4 cwt stones have fallen in Nov 12% and in Oct 8%. This is exactly the opposite of what I expected. So Rappaport may be correct.

In my news feed there was an article of what happened to rising diamond prices during the pandemic. Inflation and all the other events caused diamond prices to increase 25%. Texas Leaguer Justifies the increase by fails to account for why White Flashes prices seem to me to have gone up 100%, I suspect that now that white flash has a jewelry store that opened recently, it now has costs associated with this newer venture that must be met and so increases diamond prices under te guise of inflation and supply problems. Who believes there are supply problems.? With increases like these the lab diamond market can flourish. It is the opening needed, but the EMD dealers have contributed to this immensely. I don't think you can shut the barn door anymore.
I say face it, Lab diamonds are a good alternative They may continue to fall in price but they look great. No need to disparage anyone who chooses either.

It pains me to say this, but I think White flash is very overpriced and you experts should branch out to find new choices for consumers. They are getting rich off of you. IMO..

Annette

I try not to take things personally, but some of the statements in this post are pretty inflammatory and require a response.

First, the assumption that our “new” retail showroom requires that we raise our prices is completely false. We opened the showroom ten years ago. The showroom is in contiguous space to our main campus, so the incremental overhead associated with it is negligible. It was done to accommodate the many requests we were getting from local customers in the 4th largest market in America to come see our diamonds in person, and to view and try on the bridal styles offered in our extensive portfolio of designer brands.

The notion that our diamond prices have increased 100% is also false. Prices have been volatile these last few years and did initially spike due to supply chain problems, but have come back down significantly. We have lowered prices far more than we ever raised them. I am not sure what you are basing your assertions on. If you provide some evidence, I could look into it. We proactively keep our prices as low as we possibly can while continuing to provide the quality, services and benefits that we are known for - we remain very competitive with like kind and quality.

The notion that we are “getting rich” off the Pricescope community is offensive, considering how hard our whole team has worked over the last few years to continue delivering the quality that this community deserves, while operating in one of the most challenging business environments in a generation. We have been driven by the desire to simply weather the storm, adapt to rapid changes, maintain our staff, and continue to serve our wonderful customers. Not to get rich off anybody.

 

[nala]

I'm guessing they're selling these cultivated diamonds because, with the price drops, they can now afford to buy much bigger stones. (Not because they consider them to be costume jewelry, which of course they aren't).

And this will keep happening bc the price keeps dropping and the diamonds keep getting bigger. Both new and preloved markets will be flooded like moisannite.

 

[seaurchin]

And this will keep happening bc the price keeps dropping and the diamonds keep getting bigger. Both new and preloved markets will be flooded like moisannite.

As a customer, I can't wait!

 

[smitcompton]

I try not to take things personally, but some of the statements in this post are pretty inflammatory and require a response.

First, the assumption that our “new” retail showroom requires that we raise our prices is completely false. We opened the showroom ten years ago. The showroom is in contiguous space to our main campus, so the incremental overhead associated with it is negligible. It was done to accommodate the many requests we were getting from local customers in the 4th largest market in America to come see our diamonds in person, and to view and try on the bridal styles offered in our extensive portfolio of designer brands.

The notion that our diamond prices have increased 100% is also false. Prices have been volatile these last few years and did initially spike due to supply chain problems, but have come back down significantly. We have lowered prices far more than we ever raised them. I am not sure what you are basing your assertions on. If you provide some evidence, I could look into it. We proactively keep our prices as low as we possibly can while continuing to provide the quality, services and benefits that we are known for - we remain very competitive with like kind and quality.

The notion that we are “getting rich” off the Pricescope community is offensive, considering how hard our whole team has worked over the last few years to continue delivering the quality that this community deserves, while operating in one of the most challenging business environments in a generation. We have been driven by the desire to simply weather the storm, adapt to rapid changes, maintain our staff, and continue to serve our wonderful customers. Not to get rich off anybody.

Hi Texas Leagure
First, let me say I am not in anyway attacking your work ethic. I was however trying to understand how your pricing at Whiteflash appears to be higher than comparable increases in prices in the diamond industry in general. On numerous occasions on pricescope, including in this thread , you have listed all the reasons that diamond prices have risen. I added to the list by thinking your "store that isn't a store, would add to that cost. Nothing inflamatory there. Now , I checked your prices months ago, but rechecked today using the same parameters, which were still there, and found that your prices are lower than what I saw some months ago. So, I can conclude that you have indeed lowered some prices. Good for you.

I already stated my comments on getting rich off of other was a bridge too far and , yes inflammatory. I already corrected myself.

I also had just read the thread on the Lab diamond and also wondered about the disparity in price for a 5 ct lab diamond. Yours was 24,000 vs 11,000. This confirmed my feeling that WF was over pricing.

Annete

 

[Texas Leaguer]

Hi Texas Leagure
First, let me say I am not in anyway attacking your work ethic. I was however trying to understand how your pricing at Whiteflash appears to be higher than comparable increases in prices in the diamond industry in general. On numerous occasions on pricescope, including in this thread , you have listed all the reasons that diamond prices have risen. I added to the list by thinking your "store that isn't a store, would add to that cost. Nothing inflamatory there. Now , I checked your prices months ago, but rechecked today using the same parameters, which were still there, and found that your prices are lower than what I saw some months ago. So, I can conclude that you have indeed lowered some prices. Good for you.

I already stated my comments on getting rich off of other was a bridge too far and , yes inflammatory. I already corrected myself.

I also had just read the thread on the Lab diamond and also wondered about the disparity in price for a 5 ct lab diamond. Yours was 24,000 vs 11,000. This confirmed my feeling that WF was over pricing.

Annete

Thank you for your clarifications.

We have no choice but to follow the market up and follow it down. If you sell things below replacement cost (a rising market) you cannot continue to stock the depth and breadth of inventory necessary to maintain adequate inventory levels. If you do not reduce prices in a falling market, you do not make sales. If the market falls far enough, existing in-stock inventory has to be sold for little or no profit, or even for a loss. We have experienced all of these challenges, and in rather a whiplash fashion. We do believe the market will become more stable in the coming months and years, making it easier for us to manage our broad selection of precision cut in-house diamonds. We also believe the pricescope community is uniquely able to distinguish value.
The market for lab diamonds has been even harder to keep a tight handle on. Prices are all over the map, even for seemingly comparable diamonds. The fact that lab diamonds are not all created equal is one reason for significant price variations. We believe the lab diamond market will also find better equilibrium in the medium term.

 

[Rockdiamond]

The other side to this, speaking as an internet merchant....
The vast majority of sites are populated using a feed. A compilation of thousands of diamonds.
The seller never actually touches the diamond till it's sold. Sometimes not even then.
These sorts of systems allow global changes in price, details, etc.
Of course, it also means the pics/descriptions are based on an AI sort of methodology.
Websites that feature particular diamonds, that are in their possession, are offering a much different sort of service, for sure.
I can't speak for others, but in the case of our site, we need to change each price individually. Sometimes it's not possible to keep up, particularly in the case of lab diamonds, and the state of this rapidly developing market.

I would advise anyone buying a lab grown diamond to reach out to the merchant to see if they are getting the most current pricing.

I pulled my quote from a thread in the LG section asking about price discrepancies- it's relevant here.

 

[denverappraiser]

I’m a huge fan of Mr. Rapaport. I’ve often told people that he is who I want to be when I grow up, and it's not just his income, although I'd love that too. He rocks. That said, I don’t always agree with him, and this particular campaign is an example. It’s simply not true that lab diamonds have no resale value. Undamaged stones above very tiny are easy to sell. The problem is the price. There are a lot of reasons for this, some even pretty good ones, but the problem has to do with seller expectations. This is EXACTLY the problem with reselling natural diamonds and always has been. Hardly anyone gets their price on resale with either mined or grown stones. Again, mostly for good reasons. Describing this issue as a fundamental problem with lab-grown is not just wrong, it’s disingenuous, and Martin knows it. Diamonds are extraordinarily cool little things, they’re remarkably durable, and people should be happy to buy and wear them. I see clients nearly every day who have been thrilled with their diamonds for decades. Generations even. This is a GREAT thing, and I can’t think of any other product that delivers it. What they’re not is financial instruments. That’s been one of the big lies in the diamond business and Rapaport is doubling down on it to promote the cause of natural diamonds.