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No longer are diamonds
the exclusive preserve of the super-rich. American diamond
jewellery-with its inexpensive price tag and expensive looks-has made
a flashy debut in the jewellery market.
Jewellery and woman go
together and when the jewel is made from stones like diamonds refuse
a chance of wearing it. In today’s fast paced world, however,
real jewellery can be quite expensive, and not exactly a security
man’s delight. Yet a woman can satisfy her desires to adorn
herself with equally sparkling diamonds that do not necessarily have
to be the real thing. The success of cubic ziroconia, or American
diamonds as it is nicknamed by the trade because of its origin of
development, has made it very easy for the modern Indian woman to
dazzle without getting unduly worried about the price or the risk
factors. To replace the real diamond several alternatives have been
tried: Lead crystals, highly compressed graphite and carborundum, for
example. But the cubic zirconia produced initially in the Soviet
Union received the most approval . later in the 70s, the General
Electric Company of USA perfected by discarding as many impurities as
possible to bring it closest to the original gem. The Diamond and Gem
Development Corporation (DGDC) factory in Taloja manufactured the
cubic zirconia by a process called Skull Melting. So far the raw
material for its manufacture has to be imported since the process has
not yet been perfected in the country. The price of the cubic
zirconia is only a few thousand rupees per kilo and that is what
makes it so attractive vis-à-vis the real diamond. Yet the
smaller the stone the higher the price while for a real diamond it is
the other way round.
The cubic zirconia after
cutting and polishing is re-exported to the west. As with real
diamonds, it is also based on the rough. So if the rough is inferior
then the end product will be of the same level. But often the fake is
more brilliant than the real diamond and the end result at times is
so good that it is hard to tell the difference between a cubic
zirconia and a real diamond. In India, Legend, the American diamond
jewellery outlet in Bombay was the first to introduce the stone in
1982. In 1983, Aura was started as an outlet for exclusive designer
jewellery. Besides these two outlets there is Eternia, the newly
opened ladies high fashion store, a part of Premson’s Bazar in
Bombay and many other stores that display collections of high fashion
American diamond jewellery. The 4Cs apply to cubic zerconia too.
They are the cut, colour, clarity and carat, explains Nikhil
Chaganlal of Aura. The carat is different since the specific gravity
is higher as it is heavier. Besides, the zirconia is not as hard as a
real diamond and so cannot be used for industrial purposes. On the G
scale it measures approximately 6 while diamond is hardest measuring
approximately 6 while diamond is hardest measuring 10. As an item of
investment the zirconia has no resale value. It is for purely
aesthetic purposes and only when set in jewellery can it be sold,
informs Bharat Gala of Eternia.
Pricewise, jewellery in
zirconia is very competitive, Where a good real one carat diamond
would cost around Rs.75,000 a similar one in a cubic zirconia would
only be a few hundred rupees. Therefore earrings could sell for
Rs.300/- to 400/-, bracelets, bangles for Rs.1200/- to 5500/-
pendants Rs.300 to 1200/- and cuff links, tie pins, kurta buttons for
Rs.600/- adds Gala.
What started off as a
mere trend or a fad has now become a way of life where cubic zirconia
is concerned. The boom in the sale of American diamond jewellery in
the local market encouraged the DGDC to manufacture and sell
synthetic gemstone in 1989. new units were added every year. The sale
of this jewellery is year round with an increasing during the festive
months. Most of the sales of American diamond jewellery are
restricted to Bombay and the other metros with new outlets opening up
everyday with more modern and interesting innovations in design. Even
though the American diamond has become a welcome substitute for the
real thing, yet this section of the industry has been given very
stepmotherly treatment by the Gem and jewellery Export Promotion
Council, says Chaganlal. The American diamond jewellery industry has
the capacity to absorb the idle craftsmen since it is also a
handcrafted jewellery all over the world is a dream which India can
provide when zirconia is exported in the form of jewellery. This
market is ignored for export even though it can be profitable to the
country, argues Chaganlal who is one of the few who exports even
though it can be profitable to the country, argues Chaganlal who is
one of the few who exports jewellery to boutiques in Geneva, at Rue
des Alpes and Londen at Knightsbridge and to Singapore. Tourists are
attracted to American diamond jewellery made in India but it hasn’t
become a foreign exchange earner. As a jewellery item it is antidowry
and a social equaliser. Investing in real diamonds which are really
dead assets with fluctuating prices, is now becoming a thing of the
past. A zirconia’s rate doesn’t fluctuate and loosens up
the parallel economy. Designing in America diamond jewellery has
reached a traditional as well as an international look. The stones
are normally set in silver plated with gold. Very often strike off of
Cartier, Boucheron, Bulgari and other western designers are also
popular. Chaganlal has created a line of jewellery with the ancient
Mohenjo-daro look. There are delicate bracelets, dazzling necklaces
and glittering sets that will catch the eye of many a
fashion-consious woman. In fact, the cubic zirconia has been so
indistinguishable from a real diamond that it has at times even
confused jewelers. The only fool-proof way to tell the difference is
by the thermal conductivity method which is used at international
airports and customs sections. As far as the durability of this
diamond is concerned it is comparable to the real thing. the normal
standard precautions applicable to a real diamond are followed. The
zirconia is more brilliant than the real diamond and in addition to
other colours has flashes of red and yellow. The stone does not
blacken nor does it wear away.
Most of the major
manufacturers like Aura and Art Karat in Delhi have a buy back
guarantee scheme, whereby the item can be exchanged at 85 per cent
the value or returned at 75 per cent the value. Thereby making this
jewellery is in the age group of 35 years and above. The customer
profile comprises the woman who does not want an obvious fake item
but is able to present a prestigious as well as fashionable image.
The workingwoman who wants to flash a subtle diamond and express her
tastes in the right direction opts for a zirconia jewellery piece.
With this type of jewellery one can have one’s cake and eat it
too since one can buy a good piece of jewellery, which is cheap. Yet
has a resale value.
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