Jogia Diamonds' Blog

As another month goes by, diamonds, both natural and lab grown record another price drop. In natural diamonds, Rapaport records that 1ct round diamonds fell by 2.7% in the month of July alone, continuing their downward trajectory that started in March 2022. On the lab grown side, prices continue their predictable price slide with 1ct round brilliant, E/VVS2, ideal cut lab grown diamonds now available for well under A$700 including GST. However, the reasons for the price collapse of natural and lab grown diamonds are entirely different – one is supply driven and one is demand driven.

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Most professionals in the diamond industry would agree that diamond grading has slowly become worse over the past 20 years. In fact, if you offered me a choice of two round brilliant diamonds, the same size, colour, clarity and proportions, with one graded by GIA in 2003 and another graded in 2023, it would be a no-brainer to choose the one graded in 2003, as I have witnessed firsthand what I think to be the slow degradation of grading standards, in some cases such as the GIA cut grade it is on display for the whole world to see. However, people rarely talk about this. Sure, there have been and will always be disputes about diamond grading, but it seems nowadays, the entire industry, from wholesalers and retailers to independent valuers simply accept GIA’s grading without any questions.

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An article last Friday in Fairfax papers tells the story of post pandemic Melbourne and Perth. Essentially, it states that whilst Perth has nation leading office occupancy in its CBD, the retail vacancy in the CBD is 26.1 per cent – the highest CBD vacancy rate in the country. Meanwhile, in Melbourne, the opposite is true, with a retail vacancy rate of 9.2 per cent, but a very high office occupancy rate.

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It has been two years since we started selling lab grown diamonds. Over that time, we’ve seen supply of lab grown diamonds explode, with prices plummeting which in turn has led to greater demand from our clients. With the sudden gain of popularity, one must wonder what the future has in store for lab grown diamonds and the entire diamond industry.So, here are six predictions on the future of lab grown diamonds.

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Almost three years ago, I wrote about how jewellery, and especially engagement rings are not indestructible. The fact remains that if you buy a piece of jewellery, and you wear it on a regular basis, at some point, whether it be in a year’s time or 50 years’ time, your will need to get it repaired or resized. That said, getting your jewellery repaired, resized or re-modelled can sometimes be a minefield, so below I’ll discuss five of the most common mistakes people make when getting their jewellery repaired.

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Over 15 years ago, I wrote about how jewellery valuations were worthless. Fast forward to about a month ago, I was asked to do valuations on a number of unknown pieces of jewellery. Usually I would decline such a request as I had never done a valuation on a piece of jewellery not bought from us, however, this was for a relative of an existing customer, so I agreed.

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Last month, I wrote 7 Things That Have Disrupted the Diamond Industry in the past 25 Years. Following on from this, below are five things that I predict will happen in the next 25 years.

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Greenwashing, along with its cousin, fairwashing refers to the practice of making dubious, or downright false environmental or ethical claims about a company’s products. In October and November of last year, it was found that the fashion sector has the highest proportion of “concerning claims”. This shouldn’t be a surprise to anyone, as in the past few years, a plethora of companies in both the fashion and jewellery industries have been established on the basis that they are more environmentally friendly and ethical. However, a cursory glance at some claims put forward by these companies reveal that their environmental and ethical claims are either nothing new or can easily be de-bunked. Below are six of the most dubious claims that are common amongst “eco-friendly” or “sustainable” jewellers, and why each of these claims is problematic.

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It may come as a surprise to some, but despite Russia having invaded Ukraine over one year ago, the world is still awash with Russian diamonds. Whilst some western nations, most notably the United States have placed sanctions on rough diamonds originating from Russia, these same diamonds are still being cut and polished in India and China and then being resold in western markets without so much as a blink of an eye.

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25 years ago, in 1998, Jogia Diamonds was incorporated. Since then, our company has gone through a lot of changes. However, looking back on the past 25 years, the diamond and jewellery industry has changed even more. Most of these changes have been positive for both the industry and consumers and have affected everything from the way jewellery is sold to how it is designed and manufactured. As always, with certain parts of the industry being very resistant to change, some wholesalers and retailers still hold back and do things the “old fashioned” way, causing the division within the industry.

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