Belgium wants clear terminology for diamonds worldwide
Jewellers still use multiple terms for diamonds which can have a negative impact on consumer confidence.
Belgian Secretary of State for consumer protection, Eva De Bleeker, has visited the Diamond District and the Antwerp World Diamond Centre (AWDC). Discussions were held on a clear terminological distinction between natural and synthetic diamonds.
Diamond traders are already legally obliged to use the correct terminology for natural and synthetic diamonds, but jewellers still use a jumble of terms which can have a negative impact on consumer confidence. De Bleeker wants to change this and is looking for solutions together with the diamond industry.
Almost 86% of rough diamonds pass through the city of Scheldt in Antwerp each year and 50% of all polished diamonds. Therefore, the diamond district is a real draw for consumers looking for diamonds. The trade is important in export terms for the country.
Depending on the consumer budget and desires not all diamonds are quite the same if you look beyond chemical composition. While natural and synthetic diamonds have identically the same composition they have a totally different financial and (to some) symbolic value. Currently, synthetic diamond is cheaper but has no resale value.
Ari Epstein - CEO AWDC says, ‘Although both products have the same composition, they are very different in value. But the consumer cannot see the difference with the naked eye. Once at the jeweller's, one is also confronted with a proliferation of terms such as a cultured diamond, an authentic diamond, a naturally treated diamond... terms that can confuse or mislead the consumer. Therefore, we ask the Secretary of State to make a clear terminological distinction between natural and synthetic diamonds that is understandable and comprehensible to consumers.’
Between diamond merchants and jewellers, a transparent and clear legal framework around terminology already exists. For the relationship between jeweller and consumer this is not yet the case which leads to confusion and occasionally also to deception by rogue jewellers.
De Bleeker is exploring how consumers can get the information they need both before entering into a purchase agreement and during. To this end, she and the AWDC are discussing various avenues, both within a legal framework and a voluntary commitment by jewellers.
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