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New York, NY--The Natural Diamond Council (NDC) recently published a 2023 analytical report called "Diamond Facts: Addressing myths and misconceptions about the diamond industry." Aimed to dispel common misunderstandings about natural and lab-grown diamonds, the NDC seeks to promote transparency and inform consumer decision-making.

[Image via Natural Diamond Council]

The report addresses misconceptions such as the detectability of lab-grown diamonds, their sustainability, the rarity of natural diamonds, price depreciation of lab-grown diamonds, ethical sourcing, and the benefits of natural diamonds to their countries of origin.

The report states that professional verification instruments can identify all lab-grown diamonds. It also points out that lab-grown diamonds are not necessarily sustainable. Their manufacturing process requires significant electricity, often from coal-based grids in countries like China and India.

On the other hand, natural diamonds are inherently rare due to their formation process, which takes millions or even billions of years. The global recovery of natural diamonds has dropped by over 30% since 2005. Additionally, natural diamond prices have shown an average increase of 3% per year over the last 35 years, while lab-grown diamond prices have experienced a 74% decrease from 2016 to 2023.

Ethical sourcing remains a priority for the natural diamond industry, with initiatives like the Kimberley Process and the Responsible Jewellery Council ensuring conflict-free trade and responsible sourcing. Moreover, the natural diamond industry supports the livelihood of 10 million people worldwide, benefiting local communities and economies.

To read the full release from Natural Diamond Council, click here.