Do Engagement Rings Have to Be Diamonds?
Yes, diamonds are an engagement ring tradition.
There is a lot of buzz in the media lately that “diamond engagement rings are over”. Kate Middleton and Penelope Cruz caused a ripple effect among bride-to-be’s with their counter-culture move, sporting sapphire engagement rings over the traditional diamond. Michael C Fina has a reputation as a fine jeweler through strong traditions and high quality craftsmanship – that is why you won’t see anything but the finest cut diamonds on our customengagement rings page.
Here are some popular myths from the anti-diamond engagement ring crowd that we are going to help bust for you.
Myth: All diamonds are conflict diamonds
Conflict diamonds are those sold in order to fund violent civil wars in Africa, destroying millions of lives. This problem has been so public, movies have been made. These sort of “blood diamonds” are not ethically traded. It is important to research whether your jeweler adheres to WTO guidelines and explicitly states that they sell conflict free diamond engagement rings. Find out what partnerships your jeweler has on their About Us or FAQ page. If your jeweler states that they have a membership with the Jewelers Vigilance Committee and adheres to the WTO and Kimberley Process guidelines, you can rest assured that you are buying a conflict free diamond.
Michael C. Fina is proud to exclusively sell conflict free diamond engagement rings.
Myth: Diamonds are just a De Beers marketing ploy
In the 20th century, De Beers mining company coined the slogan, “A Diamond Is Forever” and the phrase has since become famous and made its way deep into pop culture. While no doubt a savvy marketing play, De Beers advertised the simple truth: diamonds do last forever. A diamond engagement ring will be 4x more resilient than Kate Middleton’s sapphire (and shine 10x brighter)! Diamonds don’t scratch, and they don’t lose their luster.
Diamond engagement rings have been around since the 13th century typically reserved for royalty and the elite upper class. Today diamonds are modern wedding staple and not going anywhere anytime soon. Nothing shines brighter than a diamond and are an engagement ring tradition.
Myth: The diamond supply will last forever
A study released by Bain & Company showed that eventually demand for diamonds will exceed supply. Rough diamond production is expected to grow at an average annual rate of 4.8% until 2018, decreasing to 3% therein after. Swelling demand in the developing nations, mainly China and India, will push global demand to a compound annual growth rate of 5.1%. Therein produces a mathematical sink-hole between supply and demand where buyers come up short.
*Forecasted data based off of Bain & Company’s forecast.
Myth: Jewelers are selling low quality diamonds
While some jewelers pick from a supply sheet, we have handpicked our diamonds for three generations, ensuring you get the highest quality diamonds available. Knowing where your diamonds come from is important in understanding quality. Our largest diamond supplier, Hearts on Fire, chooses the top 1% of the world’s raw diamonds, cuts and polishes their diamonds at 100% magnification, 10x the industry standard. We take special consideration in choosing our diamonds and it starts with our supplier.