Millennials and Gen Z’s today are more conscious of their actions. They consider everything they do to ensure they are not impacting the environment adversely. In this pursuit, the sales of lab grown diamonds have increased.
In an interview with CNN, an independent diamond analyst, Edahn Golan, gave his insight. He pointed out he noticed a 63% spike in lab created diamonds; meanwhile, there was a significant decline, a staggering 25% in the purchase of a natural diamond.
Indeed it is high time to take the steps that help save our planet. So, if you are not a convert yet, we will discuss some engaging facts about the lab created diamond.
Read on because we bet you don’t know many of them.
1. They Are Not Fake!
There is still some skeptical feeling about the legitimacy of lab created diamonds. Many buyers still believe that these are not real.
We do believe in science, do we? So we explored the age-old method, Mohs Hardness Scale. The scale tells you the hardness of every stone. When we tested a natural diamond, it measured ten. Similarly, we also got a ten when the lab-created diamonds.
Think of this analogy: when the temperature drops, the water turns into ice – this is the natural method. Whereas you fill up the ice-cube tray with tap water and put it in the refrigerator – you still get ice, but science was involved.
This analogy supports the fact that producing diamonds in labs is possible. Lab-created diamonds are created in a chamber in a controlled environment (oh, the marvels of science), whereas a natural diamond is extracted after strenuous days of mining.
The carbon particles are exposed to a temperature for days replicating the environment in the mines where pressure builds in the presence of carbon.
Don’t believe us? On the purchase of each natural diamond, you get a certificate. Similarly, you get the same level of scrutiny and rating on lab grown diamonds. The certificate states it’s a real diamond ‘grown in a lab.’
With lab grown diamonds, you can guarantee that your diamond pendant is just as real as naturally mined diamonds.
2. They Are Cheap Due to Logistics
When you compare the prices of man-made vs. natural ones, you will be astounded. It is natural to doubt the validity of lab created ones. Let us explain here.
You see, extracting diamonds hundreds of feet down the earth is an expensive and life-threatening process. Oftentimes miners die due to the cruelty and harshness of the process. Even after retrieving, the whole supply-chain jargon is involved in transporting it to the countries to meet the demand.
The recent spike in natural diamond prices is due to certain countries engaging in war and hampering the mining business. Alrosa, a group of mining companies, alone managed 27% of the mining and supply of diamonds globally.
On the other hand, lab grown diamonds which are as real as the naturally-mined ones, are made in a controlled environment and hardly take some weeks.
So if you saved up plenty to buy a natural diamond, we have a golden tip for you. Instead of going for a naturally-mined diamond, go for a lab grown diamond. And the good thing is, you get an upsize; since you get the lab grown cheaper than the natural ones, how about a bigger solitaire ring?
3. Slow But Sure
The lab created diamonds are building authority, yet they still haven’t captured the market yet. Some companies like Pandora have announced using only man-made ones for future collections.
The news came in 2021, and since then, they have stopped using the mined diamonds altogether. Signet, the name behind Kay Jewelers, Zales and Jared Chains, also announced they expanded the designs of man-made diamonds since the demand has increased.
Since the COVID-19 pandemic hit, humans stopped torpedoing the earth, it healed in beautiful musical ways. We saw beautiful skies with great air quality. Birds and insects thrived, and we witnessed it all in awe.
It changed a lot in us, many people have switched to a sustainable way of living religiously. Thanks to director Edward Zwick and Leonardo DiCaprio for creating the movie Blood Diamond; we are aware of the cruel ways diamond is mined.
So we see a change for good, it may take a couple of years, but soon we will see lab grown diamonds take over the major market.
It is important to note the resale value of lab created diamonds is less nifty. But most of the time, buying diamonds is not about resale but the gesture. Diamonds are worn year after year and even passed on to the next generation — so it’s more about symbolism.
Some Random Thoughts
- Every time you buy a lab grown diamond, you save the earth and indigenous communities around mining sites.
- The certifying labs such as the Gemology Institute of America or GIA checks diamonds (man-made and naturally sourced) for four elements – cut, clarity, color and carat. Both diamonds pass the test.
- The industry of lab created diamonds has evolved considerably so that no one but an expert can tell the difference between the two.
- The expenses of energy, labor, life, machine and moving with security only add up to make naturally sourced diamonds more expensive.
Lab created diamonds are the new rave. Most jewelry designers are endorsing it since it’s conflict-free. The only thing that was harmed in its creation was electricity. It also gives the users a piece of mind that no one were harmed or children exploited while they sport their diamond bracelet.
Nowadays, many people are looking up lab grown diamonds due to many myths surrounding their value against natural ones. The price is almost half of natural ones, which makes you wonder if they are fake.
But as discussed earlier, they are as real and beautiful as natural ones, but only there is no stigma associated with them. The great drop in price is due to all mining and logistics reasons. It is also environmentally-friendly, which is why almost 70% of its buyers are millennials and Gen Z’s.
At the time when the earth is at its tipping point, and the biggest glaciers are melting, we have to stop and think about our actions and how they impact the earth. And why waste your hard-earned money on getting natural diamonds at a far greater price when lab grown gives you a bigger and better diamond at a lesser price?
We hope this read got you thinking and you learned some engaging facts about lab created diamonds. Make smart choices!