This is an expanded and serialised version of the article that first appeared in the JNA January-February 2023 issue.

 
As JNA enters its fourth decade, it examines the market-shaping developments that will influence the course of the gem and jewellery industry moving forward. This last instalment looks at changing norms in the jewellery trade.

 

37. Digital and expanded certificates

(Updated on April 8 to reflect new developments)
 

Certification, often the bedrock of client trust, is taking on new forms and covering new areas. Gemmological laboratories are however guided by the trade on what the market wants and needs – and rightly so.

The Gemological Institute of America (GIA) initially planned to convert all its paper reports to digital form by 2025, starting with its popular GIA Diamond Dossier that turned into digital-only reports from January 2, 2023.

Trade concerns on the security, acceptability and viability of digital-only certificates prompted GIA to revert to printed reports for its GIA Diamond Dossier from April 9. Clients could request for printed versions of digital-only reports issued for their diamonds. Digital certificates were still available for clients who preferred that version.

Gemmological laboratories are also offering more detailed certificates for lab-grown diamonds and gems.

In January 2023, GIA launched a new low-cost report for lab-grown diamonds that no longer includes the growth method or post-growth treatments. It also started providing the AGS Ideal Report as a digital-only supplement to GIA diamond reports for eligible D-to-Z natural and lab-grown round brilliant and fancy shaped diamonds. 

New certificates and grading reports are likewise being introduced for fields such as colour standards for gemstones and even sustainable mining.

The Asian Institute of Gemmological Sciences (AIGS) has launched grading reports for Santa Maria aquamarines and Jedi spinel that set clear colour standards for these trade names. 

 

38. Non-traditional traditions

While classics will always be appreciated, today’s social citizens are perennially in pursuit of novelty. This philosophy is fuelled by the desire for significantly distinctive personas.

Engagement rings, which first expanded from diamonds into coloured gemstones, are now embracing new styles such as toi et moi designs.

Rubies, emeralds and sapphires remain the leading royalty of the coloured gemstone world but share the limelight with princes and princesses such as Paraiba tourmaline, spinel and Santa Maria aquamarine.

 

39. New generation of leaders

Second-, third- and fourth-generation leaders are bringing their family enterprises to new heights. Armed with a jewellery pedigree honed by the finest universities and perfected on the job, this younger breed of leaders is bold enough to innovate and cautious enough to pursue sustainable growth.

The industry stalwarts of tomorrow are also invigorating the fields in which they operate with a collegial zeal and visionary ambition.

At the World Federation of Diamond Bourses (WFDB), members of the Young Diamantaires initiative are bringing forth new ideas and approaches to better cater to new consumer segments. What began as a discussion group in 2016 has evolved into a proactive and dynamic force bent on ushering in greater transparency and sustainability in the diamond trade. 

 

40. Trade collaborations

Trade organisations and associations are taking the lead on many business, technical and strategic issues to bolster their sector’s prospects.

Collaborating with industry partners, providing platforms for discussion and coordinating with fellow trade bodies help ensure sustainable development and growth avenues.

The industry is strong when united and such leadership is needed to maintain growth in an ever-evolving market.

 

 

View the earlier instalments of this series here.