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Jan 29, 2014 2:21 pm

If you are looking to sell your used diamond jewelry, there are a lot of variables to take into account. Recently jewelry trading parties have seen a surge of popularity in big metropolitan New York. Naturally, one would think they could take advantage of such an event to get a great deal on heirloom quality jewelry. Almost everyone, after all, has heard the story of the kid who bartered his way up from an old cell phone to a stunning exotic Porsche sports car.

Unless you are experienced in bartering, you run a very high risk of getting ripped off. However, oftentimes consumers unknowingly short change one another. Only a year ago, Gemisis proudly launched its new line of “lab created” diamonds. The science behind this is incomprehensive to the average Joe. Unless you work in science you have no idea how much pressure, heat, energy, and mineral concentrations are required to recreate this natural masterpiece. While lab created diamonds sound futuristic and glamorous, this brilliant business concept has received a lot of support from ethics and non profit organizations. Who knew that shopping for your dream ring could inspire positive social change?

The positive implications of this growing industry start at the source; the diamond mines themselves. While most consumers would rather bury their heads in the sand, the harsh reality is that a massive percentage of diamonds sold on Fifth Avenue originate from Congolese mining cartels. These groups perpetrate shocking and sad crimes against humanity. The working conditions and employee rights in these mines are what earned the regions’ resource the notorious “blood diamond” name. Extensive documentation indicates that a significant percentage of the workers in the mines would be considered under the age of majority in western countries. Luckily, the advent of artificially produced diamonds may spell the end of this horrific chapter in history.

Despite the Nobel intentions of lab made diamond start-ups, it makes sense for consumers to hold off on trading their conventional diamonds for the next several years. It’s easy to get sucked in by the marketing hype of any company. Gemisis announced that their diamonds were “equal to the best quality mined diamonds” It’s imperative to understand that companies are very concerned about abiding by the regulations and compliance standards that apply to everything from ad copy on their website to new stories and press releases. After all, quality is somewhat subject. The company did not refer to the market value of these items. Indeed, there is not enough consumer confidence make some guaranteed short term cash of these new diamonds. This should be a no-brainer considering the wholesalers and retailers are selling them at virtually identical rates to their conventional counterparts. If you are in a tight financial situation you’d better wait it out for a couple years until the market demand for these diamonds increases. However, if you have a lot of money to invest this could be an unparalleled opportunity to make a lot of cash over the next year. After all, due to a recently conducted poll close to ninety percent of Americans would be willing to purchase a product if it was socially and environmentally friendly.


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