Man Made Diamonds - Myths Vs Reality

Real lab-grown diamonds have constantly offered the tantalizing prospect of making the beauty of true, real diamond affordable to jewelry lovers around the world. Unfortunately there is still a large gap between typical media articles and the reality of what diamond growing labs can actually grow as of November 2009.
This article is thus designed to educate diamond buyers who are interested in purchasing a real, lab grown diamond to ensure your expectations are realistic and understand what is and is not available (and why). In addition, this article can help prevent you from being taken by unethical CZ sellers who advertise their product as 'lab grown diamond' or 'man made diamond' when their product is actually deceptively advertised CZ.
White Diamonds:
Since our last article in 2007, there has been minimal progress on larger, lab grown white diamonds, though not for lack of effort by scientists. Buying a 2ct, real gem grade, lab grown white diamond is currently about as likely as you encountering a unicorn...the reality is neither, as of November 2009, currently exist.
There are only two labs that have publicly noted that they are working on growing white lab diamonds for the consumer market at this time. While one lab has had a few as large as 1ct, these were rare occurrences and not readily reproducible to date. Even after years of research and effort, the typical diamond produced is less than.50ct, and often the color is below the typical gem grade white mined diamond. The few that are available typically sell for the same price as or higher than a comparable natural mined white diamond and wait times for larger sizes (.75ct and higher) can exceed one year with no guarantee of if or when you will be able to purchase. Thus the reality remains that there is no diamond seller able to offer lab created white diamonds on a consistent, readily available basis and in sizes over 1ct (as of November 2009).
Because of this disparity between supply and demand for real lab grown white diamonds, there are still a number of CZ sellers who run ads, likely even showing next to this article, proclaiming 'Flawless Man Made Diamonds', 'Perfect Lab Created Diamonds' or similar false claims. These are unethical sellers peddling ordinary CZ under bait and switch advertising tactics. Their product is not actual lab grown diamond (carbon), but rather CZ (cubic zirconium), a widely available simulated diamond material that mimics the look of white diamond, but is not real diamond. Plain CZ has been available since the 1980s and is nothing new to the jewelry market. The only twist is how many sellers have succeeded in taking advantage of the consumers knowledge gap between media articles over-proclaiming the availability of real lab grown diamonds, and the limits of what truly is available in real lab created white diamond.
Larger, 1ct and higher lab grown white diamonds will hopefully eventually come to fruition, but for now, the market is still constrained by the extreme difficulty of growing white diamonds in sizes desirable to consumers.
Blue Diamonds:

Jewelry and Gems The Buying Guide: Diamond Grading Report

Today, few fine diamonds over one carat are sold without a diamond grading report, or certificate, as they are also called, from a respected laboratory. Reports issued by the GIA/Gem trade laboratory are most widely used in the United States and many countries around world.
A grading report does more than clarify the stone's genuineness, it fully describes the stone and evaluate each of the critical factors affecting quality, beauty, and value. Grading reports can be very useful for a variety of reasons. The information they contain can provide verification of the "facts" as represented by the seller and enable one to make a safer decision when purchasing a diamond. Another, important function of reports is to verify the identity of a specific diamond at some future time, if, for example, it has been out of one's possession for any reason. For insurance purposes, the information provided on the report will help ensure replacement of a lost or stolen diamond with one that is truly "compatible quality."
Reports are not necessary for every diamond, and many beautiful diamonds used in jewelry are sold without them. But when considering the purchase of a very fine diamond weighting one carat or more, we strongly recommend that the diamond be accompanied by a report, even if it means having a diamond removed from its setting (no reputable lab will issue a report on a mounted diamond), and then reset. If you are considering a diamond that lacks a report, it is easy for your jeweler to obtain one. Or, now that GIA is issuing diamond grading reports to the public, you may submit a diamond at GIA yourself.
Do not rely on the report alone

Diamond Color and Grade Buying Guide

Diamonds
Gem Body Color.
Color is one of the most important factors to consider when selecting a diamond because one of the first things most people notice is whether or not the diamond is white, or, more accurately, colorless. It is also one of the most significant factors affecting value.
Color refer to the natural body color of a diamond. The finest and most expensive, "white" diamonds are absolutely colorless. Most diamonds show some trace of yellowish or brownish tint, but diamonds also occur in every color of rainbow. Natural colored diamonds are called "fancy" diamonds.
How to look at a diamond to evaluate color?
In white diamonds, color differences from one grade to the next can be very subtle, and a difference of several grades is difficult to see when a diamond is mounted. Keep in mind that it is impossible to accurately grade color in a mounted diamond. When looking at an un-mounted stone, however, even an amateur can learn to see color differences if the stone is viewed properly.
Because of diamond's high brilliance and dispersion, the color grade can not be accurately determined by looking at the stone from the top, or face-up, position. It is best to observe color by examining the stone through the pavilion with the table down. Use a flat white surface such as a white business card, or a grading trough, which can be be purchased from a jewelry supplier or the Gemological Institute of America, GIA. Next, view the stone with the pavilion side down and the culet pointing toward you.
What is diamond body color?