Lab Grown Diamond Prices Falling

Lab grown diamond prices have fallen consistently over the past few years. They are typically a steal compared to natural diamonds and they also offer better color/clarity combinations than their mined counterparts.

A few months ago, a large lab-grown grower lowered rough prices, dragging them down for the whole market.

Prices are a steal compared to natural diamonds

The lab-grown diamond industry is a relatively new one, but it has quickly grown into an important segment of the overall diamond market. The cost of lab-grown diamonds has been rising for several years, but recently prices have fallen significantly.

There are several reasons that a lab-grown diamond is typically a better value than a mined diamond. First, the supply chain for a mined diamond is long and expensive, whereas it’s much shorter with a lab-grown stone.

In fact, lab-grown diamonds can cost 20-40% less than mined stones of the same quality.

This is due to a variety of factors, including advancements in the technology used to make lab-grown diamonds. According to Michael Cook, CEO of Diamond Foundry, lab-grown diamonds can also be made more efficiently and cheaper than mined diamonds because they don’t rely on the same extensive supply chains.

Besides being more affordable, lab-grown diamonds are also environmentally friendly. For instance, they use 250 million joules of electricity per carat as opposed to 538.5 million for mined diamonds.

They are available in a wide range of different quality characteristics, allowing you to find the perfect match for your budget and style. You can choose a heavily included warmer-colored lab diamond or an internally flawless diamond with a more subtle and sophisticated look.

Another benefit to buying a lab-grown diamond is its rarity. Because the process of creating a lab-grown diamond isn’t an ancient one, there is a limited number of these gems that are on the market.

This means that lab-grown diamonds are a great way to get a one-of-a-kind diamond, without breaking the bank. You can even buy lab-grown diamonds in fancy colors, like green, pink and blue.

As a result, lab-grown diamonds are becoming more and more popular with consumers. In fact, many leading diamond retailers are adding lab-grown options to their storefronts.

The main reason for this increase in lab-grown diamonds is the increasing demand for eco-friendly jewelry. This is particularly true with Millennials and Gen Z, who have been known to prioritize the environmental and social ramifications of their purchases.

Some lab-grown growers are undercutting the competition

As prices fall, more and more jewelers are selling lab grown diamonds. The industry is growing faster than ever, and consumers are getting used to the idea of a man-made gem.

De Beers Group, the world’s largest diamond producer, launched its Lightbox brand in 2018 to sell lab-grown diamonds at a much lower price than natural diamonds. Originally, the brand offered gemstone jewelry for $800 per carat compared to a mined diamond’s price tag of $22,000-$25,000.

But a former employee of the company predicts that once its new factory is built, De Beers may reduce its prices even more. This could further undercut the competition and damage the diamond market in general.

Many of the major diamond retailers have started stocking lab-grown diamonds, including J.C. Penny, Macy’s, and Signet Jewelers, the largest diamond retailer in the U.S. Millennials, who are less interested in engagement and marriage than their predecessors, are driving the trend.

However, some lab-grown growers are also undercutting their competition. For example, a 1.5-carat F-H, VS-clarity lab-grown diamond sold for $10,300 online five years ago, but now sells for $3,975; by contrast, a similar size mined diamond sells for $12,375.

These lower prices mean that buyers can get a larger, more beautiful lab-grown diamond for less than a comparable mined stone. This is great news for consumers.

But it’s also bad for the business. For one thing, the lab-grown trade has a different supply and demand profile than the natural diamond industry. In addition, Marty Hurwitz, CEO of MV Marketing and a diamond industry consultant, argues that the Rapaport list isn’t the best way to price a lab-grown diamond.

This is why he says the lab-grown industry should “go off the Rap.” Joanna Park-Tonks, executive director of the International Grown Diamond Association, agrees and has urged lab-grown sellers to stop using the Rapaport list for pricing.

Ultimately, whether consumers choose to buy lab-grown or mined diamonds comes down to what matters most to them. It’s a matter of personal preference, and it’s important to consider the environmental impact and other factors as well.

The positioning of lab-grown diamonds is a contradiction

When it comes to positioning, lab-grown diamonds are a living contradiction. They’re hot in the US but not sweeping the rest of the world, and they aren’t a direct competitor to natural diamonds.

While the industry is rebranding itself in the name of disruption, it’s clinging to natural diamonds for dear life. As a result, it’s positioned itself as a technology-driven product catering to a young crowd.

Those who support lab diamonds believe that the carbon footprint of their production is significantly lower than mined diamonds. This is because they require a much smaller amount of energy to grow, as well as consuming less water per carat. This is a huge win in terms of sustainability, as it reduces the carbon emissions that are a significant contributor to global warming.

This is because lab diamonds can be grown with renewable electricity, unlike mined diamonds which must rely on fossil fuels. A 2014 report estimated that natural diamonds release 57kg of carbon into the atmosphere for every single carat, while lab created diamonds only released a few grams.

It’s also important to note that lab diamonds are a lot more affordable than natural diamonds, which is one of the major reasons why they are becoming so popular. This is especially true if you’re looking for a quality diamond that won’t break the bank.

The price of lab diamonds has dropped over the past few years, making them a great option for shoppers who want to purchase ethically-sourced jewelry at an affordable price. However, the resale value of lab diamonds will often not match that of natural diamonds.

As an added bonus, lab diamonds are more durable than natural diamonds as well. This is because the process of growing them in a laboratory has been carefully controlled. It takes weeks to grow a diamond in the lab, which means that it’s more likely to hold its shape and durability for longer than diamonds created naturally in the earth.

But if you want a diamond that’s guaranteed to last a lifetime, a natural diamond is the way to go. And while it’s true that they can be expensive, they are also rarer than their lab-grown counterparts, which means that you’re getting a lot more for your money.

The marketing of lab-grown diamonds is a contradiction

Despite the fact that lab-grown diamonds aren’t actually natural, many people still consider them to be real diamonds. This is a contradiction in its own right. It’s one that the industry often struggles to overcome – and one that is particularly troubling for consumers.

For the most part, people who buy a lab-grown diamond do so because they can afford it. For example, if you’re looking to buy a small engagement ring with a budget of $6,500, a lab-created diamond may be cheaper than a mined natural diamond. The cost difference can be significant, and it’s not uncommon for people to opt for the lower-priced option, rather than going with a natural stone.

On the other hand, some people choose a lab-grown diamond because they’re ethically concerned about how mining works on the earth. This is because natural diamond mining requires miners to dig thousands of feet into the ground. This has been linked to soil erosion, polluting waterways and destroying wildlife.

Additionally, diamond mining is a highly energy-intensive process. It uses vast amounts of fossil fuels to power its machinery, and many companies try to use cleaner forms of energy to cut their carbon footprint as much as possible.

This can result in lab-grown diamonds requiring significantly more energy to create than natural diamonds, and this can be especially problematic for those who are trying to reduce their environmental impact. This is why lab-grown diamonds are more commonly marketed as “sustainable” and/or “ethical” diamonds.

Some companies even use green energy to power their lab-grown diamond creation processes. This is a great way to cut back on your carbon footprint and make a more sustainable choice for you and the planet.

It’s also important to note that the price of lab-grown diamonds has dropped dramatically over the past few years, allowing for more people to access them at affordable prices. As long as the cut is of good quality, these diamonds are beautiful and incredibly sparkly.

The marketing of lab-grown diamonds is a complex and contradictory mess. Ultimately, the industry needs to find a way to market them that is true to themselves and doesn’t alienate customers. If it can’t, then it won’t be able to compete with naturally-mined diamonds and it will likely remain stuck in the middle of the price spectrum.

Lab Grown Diamond Prices Falling