Now Available – Lab-Grown Diamond Sourcing!
If you haven’t heard already, the VDB App has released a complete offering of lab-grown diamonds! Twelve lab-grown suppliers (with more to come), more than 4,800 lab-grown diamonds, and – of course – all the features you’ve come to expect from VDB, like lab reports, high quality photography, and 360-degree views. Now it’s easier than ever to source, buy, and sell lab-grown diamonds!
If you’ve already begun to sell lab-grown in your collections or in your store, you know there are some details that need to be covered. And if you are still in the lab-grown exploration phase, you’re probably wondering what to watch out for! So we created this handy-dandy checklist of things to think about, consider, and prepare as part of your lab-grown diamond offering. Here we go!
Lab-Grown Diamond Checklist
1. Choose your partners carefully. Lots of lab-grown facilities are springing up all over the world, and some have more, ahem, above-board practices than others! So make sure you’re working with a lab-grown partner who follows the FTC’s Jewelry Guides regarding disclosure, is working with excellent cutters, and has some longevity and business experience behind them. A good place to start is with the suppliers we’ve chosen to participate in the VDB App!
2. Segregate your inventory! Set up an entirely separate storage system for your lab grown diamonds, so they will never ever get accidentally mixed in with your mined diamonds!
3. Invest in a lab-grown detection device, so you can quickly identify a lab-grown diamond. This is something all diamond dealers and sellers should invest in anyway – even if you’re not carrying lab-grown. Not sure what to buy? Check out this article from National Jeweler reviewing detection devices.
4. Read the Guides! The FTC Jewelry Guides contain important information about how to sell and promote lab-grown (and lots of other information you need to run a compliant jewelry business). You can find the Guides here: https://www.ftc.gov/news-events/media-resources/tools-consumers/jewelry-guides
5. Get your vocabulary in order! You don’t want your team referring to lab-grown diamonds with a lot of different terms. Choose the terminology that works for your business (Lab-grown? Man made? Synthetic?) and stick with it. Consider both the marketing implications and the clarity of the term you choose, because the law says you must distinguish between lab-grown and mined in a way that is obvious to your buyer.
6. Educate your staff! Invest in the training your team needs to discuss lab-grown diamonds with consumers and/or retail clients.
Let the VDB App Help You
And of course, we have a bonus tip: Use the VDB App! We’ve made it easy for you to search, source, buy, and sell lab-grown diamonds with the best possible suppliers. Check out our exciting selection of lab-grown diamonds, in the app, today!