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Bride Calls Off Wedding over Fake Diamond, and This Week’s Other News

Members of the editorial team pick their favorite pieces from the internet.

July 4, 2024  |  Rapaport News

What is the Rapaport team reading? The editors and reporters sat down to pick the content from around the web that’s helped expand their knowledge of the diamond and jewelry industry this week. 

Divorce Rings Are Here, Because Even Diamonds Can Consciously Uncouple (Pop Sugar) 

“Are divorce rings the new must-have jewelry item? Not if you’re married, but they’ve become a symbol of empowerment for some individuals who are going through a bad breakup. It’s about repurposing a valuable jewel, instead of tucking it away in a drawer. Creating a new design from an engagement or wedding ring after divorce is an eco-friendly and money-conscious decision, and also a statement of resilience and self-love.”   

Suzanne Watkin

News Reporter
Gen Z’s Shopping Decisions Are Heavily Driven by TikTok and Influencers, Report Finds (CNBC) 

“‘It’s not news that Instagram and Tiktok trends drive Gen Z-ers to choose one product over another. What this article offers is a great video interview with Casey Lewis, a writer who analyzes youth trends and reminds us that we should not forget Pinterest as a channel for sales. Part of its success is the way it incorporates artificial intelligence (AI), Lewis notes. With more than 500 million users (42% of them Gen Z-ers), the platform is also growing among the younger generation because parents perceive it as safer. However, I have rarely seen experts on digital marketing explain how to make the best use of Pinterest. This might be a niche for jewelers to explore.” 
Vanina Weekly Gems USED 041024

Vanina Pikholc

Podcast and Video Producer
See What Inspired Tiffany & Co. Silver Designer Edward C. Moore (National Jeweler)

“The article provides a captivating glimpse into the creative genius of Tiffany & Co. iconic silver designer Edward C. Moore. It beautifully portrays his deep-seated passion for nature and Japanese art, which infused his silverware designs with unparalleled beauty and cultural richness. His adventurous spirit and global travels resonated deeply, underscoring how art and craftsmanship can transcend time and place. Moore’s collaboration with Tiffany not only elevated American silversmithing but also left an indelible mark on luxury design. This piece left me inspired by Moore’s artistic vision and reminded me of the enduring power of creativity in shaping our cultural heritage.”    

Yana Shlyakman

Sales and Operations Coordinator
Bride Calls Off Wedding After She Realizes Her $50K Engagement Ring Is a Fake Worth Just $30 (Brides) 

“This story did the rounds this week. Brides reported on a Reddit post from two years ago in which an anonymous 26-year-old woman described how her sister had received an engagement ring from her then-fiancé, who had claimed it was worth $50,000. The poster’s wife, a jeweler, established it was worth no more than $30. The sister called off the engagement. Some of the commenters thought the story smelled fishy. (“In no world does a $30 ring look like a $50,000 ring,” wrote one.)

I doubt we are talking about a synthetic diamond. At current prices, the synthetic equivalent of a $50,000 natural diamond would cost a lot more than $30. James Allen sells a round, 3.05-carat, F-color, SI1-clarity natural diamond with excellent cut for $50,000 and a synthetic stone with almost identical specifications for $5,260.

The price gap has widened over the two years since the story happened. Also, the jeweler apparently identified the irregularity when cleaning and polishing the ring. For synthetic diamonds, this would have required a detection machine. If the story is true, it’s more likely the man duped the woman with cubic zirconia or some other simulant. Amazing he thought he could pull this off.”   
Joshua Freedman Weekly Gems USED 041824

Joshua Freedman

Senior Analyst
The Women Behind the World’s Most Precious Diamonds (Harper’s Bazaar) 

“This story follows three Botswana women in different parts of the diamond industry: the head of a diamond-polishing unit, an engineer at the Orapa mine and a fancy-stone polisher. They speak of the difference the trade has made to Botswana, their pride in closing the gender-disparity gap, and what it means to be role models for future generations of women in the industry. Not only is their story touching, but it also highlights the good diamonds can do to support women, education and economic growth.”   
Leah Meirovich Weekly Gems USED 041024

Leah Meirovich

News Editor

Main image designed by David Polak.

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Bride Calls Off Wedding over Fake Diamond, and This Week’s Other News

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