Buying Quality Lab Grown Rough Diamonds
Buying Quality Lab Grown Rough Diamonds
Whether you are buying a rough diamond for yourself or to gift to your loved one, there are several things to keep in mind. These include quality, environmental impact, and marketing campaigns.
Marketing campaigns
Whether you call them man-made, lab-grown, or synthetic, diamond jewelry is growing in popularity. Consumers are recognizing that these stones are a great value. And, they’re looking to buy more than just engagement rings. Many high-end jewelry retailers are implementing lab-grown diamonds into their stores.
Lab-grown diamonds are a synthetic diamond manufactured in a lab. They are produced in a microwave chamber in just a few weeks. And, they’re available at a fraction of the price of mined diamonds. This means a more profitable margin for retailers. But, is it worth it?
In fact, there is a debate over whether lab-grown diamonds are better for the industry. Some consumers say they prefer lab-growns over mined stones, while others say one product doesn’t take away from the other. This is a conundrum for consumers. And, retailers need to find a way to sell lab-grown diamonds successfully.
The diamond industry has experienced a rough patch in the past two years. The global diamond pandemic skewed consumer shopping habits and sales expectations. In the meantime, the industry has forged an innovative marketing strategy to regain consumers’ confidence in diamonds.
Sally Morrison is one of the jewelry industry’s most experienced marketers. She has led iconic campaigns for the major players. She oversees advertising, brand development, and event activations. She is also responsible for social media content and public relations.
One of the most important factors in marketing lab-grown diamonds is educating consumers about the category. Lightbox is a jewelry retailer that specializes in high-quality lab-grown diamond jewelry. It also aims to provide consumers with transparent pricing.
De Beers’ Lightbox line of lab-created diamonds has helped to drive demand for lab-grown diamonds. The company’s Lightbox brand offers diamonds at a fraction of the price of mined stones. The company’s Lightbox stones are sold for around $800 a carat.
Lab-grown diamonds are also an eco-friendly alternative to mined diamonds. The company is also launching a consumer-facing diamond brand called Latitude. The company plans to launch a video campaign, digital engagement, and ads to target a younger consumer audience.
WD has recently received a certificate from SCS Global Services, a global audit and standards firm, which gives the company the ability to make claims about its stones being Certified Sustainable.
Quality ranges
Whether you’re new to the industry or you’ve been working in the diamond industry for years, you probably have no idea where the quality ranges of lab grown rough diamonds lie. In fact, many gemstone professionals use shorthand terms to describe lab-grown diamonds, relying on recommendations by different countries.
Most laboratory-grown diamonds are not certified by the American Gemological Institute (AGS). However, a number of major gem labs are capable of grading lab-grown diamonds. The most reliable labs are GIA and the International Gemological Institute (IGI).
The two main production methods for commercial gem-quality laboratory-grown diamonds are high-pressure high-temperature (HPHT) synthesis and CVD synthesis. HPHT synthesis grows laboratory-grown diamonds from a carbon solution at temperatures from 1300 to 1600 degC.
CVD synthesis is a more common production method. CVD laboratory-grown diamonds are typically of higher clarity and colour grades than HPHT laboratory-grown diamonds.
The two main types of lab-grown diamonds are colorless and fancy-colored. Fancy-colored laboratory-grown diamonds are less common.
High-quality laboratory-grown diamonds are indistinguishable from high-quality natural diamonds. They share the same chemical composition and crystal structure. They also exhibit the same optical properties. These properties are responsible for their brilliance, clarity, and hardness. They are also responsible for high dispersion and stability.
A number of jewelry retailers are now carrying lab-grown diamonds. Select jewelry designers are also using them in their designs. Many high-end brands are expected to begin selling them soon. The industry has increased demand, but has not yet reached pre-pandemic levels.
Lab-grown diamonds have become more popular over the past few years. They’re more affordable than their natural counterparts and provide retailers with more margin. They also have the same qualities as natural diamonds, including high clarity and color grades, but without the inclusions.
Several major gem labs have started grading lab-grown diamonds. These reports will help consumers make an informed decision. The reports are also beneficial for retailers and wholesalers.
There are several factors that influence the cost of gem-quality laboratory-grown diamonds. Some of these include research, time, and equipment. The cost can also vary depending on the specific lab.
The cost of lab-grown diamonds continues to decline. Ultimately, the price will decrease as production costs decrease and a competitive profit margin is maintained.
High-income countries
Throughout the past several years, the conversation about the value of a diamond has roiled the jewelry industry. A growing number of consumers are clamoring for alternatives to the traditional mined diamonds that have been around for thousands of years. And millennials are especially interested.
In a study conducted by MVI Marketing, 70% of American consumers said that they would consider a lab-grown diamond in an engagement ring. The most interesting fact is that a lab-grown diamond costs about the same as a mined diamond of comparable quality.
Lab-grown diamonds can be created in a lab through a scientific process that mimics the way natural diamonds are formed underground. Lab-grown diamonds can be cut and polished just like mined diamonds. However, they may sell for a 30% to 40% discount on the mined stone. Compared to natural diamonds, lab-grown diamonds may also be conflict-free.
As the price of energy rises, the cost of producing a lab-grown diamond is also likely to rise. This could put upward pressure on the cost of production. However, the industry is still in the early stages of defining a standard price.
In addition, many lab-grown diamond companies are crafting a narrative to attract consumers. Some are even developing non-invasive laser marking technology.
The lab-grown diamond industry is still in its infancy, and the market is a competitive one. It’s important to remember that the cost of production is only one factor. Another important factor is the skill and expertise of the diamond cutter. The skill of the cutter is what sets a good natural diamond apart from a lab-grown diamond.
Millennial consumers are more concerned about the social, environmental and manufacturing aspects of products. And they’re willing to pay more for products that have minimal environmental impact. This has led to the rise of responsible sourcing, as well as e-commerce schemes.
The diamond industry is a multi-billion dollar industry that’s poised for growth. A number of companies are investing heavily in technology, e-commerce and marketing to attract buyers. While the industry has experienced some ups and downs over the past few years, it’s clear that the industry has rebounded well.
Environmental impact
Among the key environmental concerns of the mining industry are air pollution, water pollution, soil contamination and wildlife destruction. The diamond industry is also facing accusations of placing endangered tiger populations under pressure. It has also been accused of human rights abuses. The mining industry has also posed a threat to climate change.
Mining diamonds uses large amounts of electricity and hydrocarbons. It also uses heavy machinery and explosives. The industry also uses hazardous substances and a variety of chemical processes.
According to the Diamond Producers Association, the mining of diamonds produces 4.5 environmental incidents per year. The industry produces 160 kilograms of carbon dioxide (C02) for every polished carat. In addition to the environmental impact, the diamond mining industry has a social impact on local communities. Mining creates jobs and helps local communities thrive.
However, the industry’s “Real is Rare” advertising campaign seeks to present diamonds as fairytale gemstones. This campaign has led to the banning of gems in some countries due to concerns about forced labor. The diamond industry has also fought hard against climate change, as they are an important source of greenhouse gas emissions.
One of the most important factors in determining the environmental impact of lab grown diamonds is the amount of energy required to produce them. In fact, the energy required to produce one polished carat of lab-grown diamond is nearly three times more than the energy required for a polished carat of mined diamonds.
Despite these differences, diamonds can be produced in labs using renewable energy. One lab company, Diamond Foundry, uses solar power and is certified carbon neutral by Natural Capital Partners.
While lab-grown diamonds do have a lower environmental impact than mined diamonds, the industry is still capitalizing on environmental concerns. Lab-grown diamonds also have lower prices. In fact, they are 10 times more durable than mined diamonds.
The industry is also working to head off climate change, as they have developed ways to mitigate their greenhouse gas emissions. For example, Anglo American is working on a process to capture carbon dioxide inside porous mined rock, known as a kimberlite.
Buying Quality Lab Grown Rough Diamonds