Why Buy Used Lab Grown Diamonds?

Lab-grown diamonds are created in a laboratory and look and feel like natural ones. They’re ethically-sound alternatives to mined diamonds and cost significantly less.

However, they don’t have the same resale value as mined diamonds. Nevertheless, they do retain some resale value when they’re sold to another consumer or jeweler.

1. Resale Value

As with any investment, diamonds have a resale value that fluctuates over time. It’s a natural phenomenon that occurs as the price of diamonds increases due to inflation, and it’s also a result of their rarity.

When it comes to resale value, natural diamonds are considered a better investment than lab grown ones because they retain their competitive market value. As long as you buy a high-quality diamond and take care of it, it should hold its value over time.

The resale value of a diamond is determined by its carat and quality, along with its rarity. Because there is a limited amount of mined diamonds on the planet, they tend to hold their value better than created-diamonds.

Buying a diamond from a jeweler is a smart choice because the jewelry retailer has access to wholesalers who can offer you lower prices than you would be able to find elsewhere. In turn, you’ll get a much higher percentage of the purchase price than you would if you bought it from a third party or individual who doesn’t have such a network.

In fact, you can expect to get between 40% and 60% of the original cost back on a natural diamond when you decide to sell it. However, lab-grown diamonds are not as popular in the second-hand market so it’s unlikely you will get that much back from your ring.

Traditional jewelers are hesitant to sell lab-grown diamonds because of the resale value, and this is understandable. They have a fear of upsetting the existing business model that has been set by their mining counterparts, which they are firmly entrenched in.

This is a shame, because lab-grown diamonds are more environmentally friendly and ethically produced than mined ones. They are also cheaper to make, which makes them a better deal for consumers in the long run.

Despite this, it’s important to note that while there is no hard and fast rule about the resale value of lab-grown diamonds, they can be a great option for buyers who are looking for an alternative to mined diamonds. They are also a good choice for couples who want to save money while still getting something amazing.

2. Environmental Impact

The diamond industry is a very important one. It is a major source of economic and social development for many people, but it also has an impact on the environment. This is especially true for diamond mining. It involves a lot of land disturbance and causes air and water pollution.

Lab grown diamonds, on the other hand, are sourced from a laboratory rather than being mined directly from the Earth. They are not a direct replacement for natural diamonds, but they have become a popular choice among consumers who are looking for eco-friendly alternatives to their traditional jewelry.

Despite these benefits, some people still have concerns about the environmental impact of lab grown diamonds. For example, some people worry that producing lab diamonds uses more energy than mined diamonds do.

This is because growing a diamond in the laboratory requires a lot of energy, and if it’s not used efficiently, it can result in negative impacts on the environment. It also releases a lot of greenhouse gases into the air.

These emissions can affect the climate, leading to more severe weather conditions and even the death of some birds and insects. This is why the diamond industry is working to make its products more environmentally friendly.

Another benefit of lab grown diamonds is that they are not impacted by natural disasters like a volcanic eruption or a hurricane, as they would be if they were mined from the ground. This can make them a safer option to purchase, especially for children and women who may be concerned about the health of their family members.

The most environmentally friendly way to buy lab grown diamonds is to look for companies that are carbon neutral and use renewable sources of energy. This will reduce the environmental impact of growing a diamond and also ensure that you are purchasing diamonds that have been sourced in an ethical way.

In addition to the environmental benefits of buying lab grown diamonds, they also are less expensive compared to mined diamonds. This is why more and more jewelry retailers are starting to offer them. These diamonds are a great way to get a piece of jewelry without breaking the bank, and they are also an excellent heirloom that can be passed on to future generations.

3. Health Concerns

If you want to get a diamond for a friend or loved one but are concerned about the health concerns associated with natural diamonds, lab grown diamonds may be the perfect solution. They are ethically sourced, use renewable energy and have zero environmental impact.

They are also much more affordable than natural diamonds, which is a win for many consumers. The average price of a mined diamond is 50% to 70% higher than the cost of a lab grown diamond.

The cost of a used lab grown diamond can be as low as half the price of a mined diamond and can be sold on sites like eBay, where it is easy to find them. In addition, many jewelers sell lab diamonds as a resale item.

But you should be careful about buying a used lab grown diamond as it isn’t a good idea to buy a diamond that has been worn for years and is no longer of high quality. This is especially true if you are considering the diamond as an investment.

You should also be careful about the diamonds that you buy as they could lose their value over time, if the market shifts and they become less rare and valuable. This is something that has happened to other lab-grown gemstones in the past, so you should be aware of this before purchasing a used lab grown diamond.

Another concern is that the carbon footprint of lab diamonds isn’t as good as that of mined diamonds. A 2014 study by consultancy Frost & Sullivan found that mining diamonds release four times more waste, six times more water and consume twice as much energy per carat than lab-grown diamonds.

Aside from this, the process of mining diamonds can be inhumane and damaging to the environment. There are several reports of diamond mining in Africa causing deforestation and other negative impacts.

Moreover, the mines can cause water pollution from chemical waste. This can lead to severe health problems and even death in certain cases.

You should always look for a jewelry retailer that sources its lab grown diamonds from suppliers who are committed to sustainability and environmentally friendly business practices. You should also be sure that the company you choose uses renewable energy to create its lab grown diamonds.

4. Sustainability

Buying used lab grown diamonds can be a great way to find an eco-friendly, ethically sourced diamond at a fraction of the price. Unlike mined diamonds, these stones do not require the extraction of natural resources from the earth and don’t use much water. They also don’t produce waste or emissions. However, there are some important factors that you need to consider when purchasing a diamond to ensure it’s truly sustainable.

First, you’ll want to check the source of your diamond. You can do this by contacting the jeweler and asking if they are willing to disclose where their diamonds came from.

Many jewelers and gemologists are happy to do so, and it’s an easy way for you to learn more about the sustainability of your stone. The key is to find a supplier that is invested in reducing their carbon footprint.

Next, look for a source that uses renewable energy to create their diamonds. The production process of lab-grown diamonds can be more energy-intensive than mining, so they’ll need to rely on renewable sources of power.

Despite the fact that lab-grown diamonds are often marketed as “sustainable” by their makers, they may not always be a sustainable option. The production process can still have a negative impact on the environment, so be sure to buy from an experienced supplier that is committed to using renewable energy in their processes.

You can also make sure that your diamond is conflict-free by checking with the Kimberley Process. This certification, created in 2000, outlines the steps that diamonds must take to avoid funding rebel groups. But it doesn’t tell you about other factors in the diamond production chain, such as worker conditions or environmental impact.

The Kimberley Process doesn’t cover water pollution, so it’s important to choose a company that has done their research into local issues. For instance, the Marange diamond fields in Zimbabwe were accused of dumping chemicals into the water.

Ultimately, the most important thing to remember is that a diamond’s sustainability depends on its source. The best way to ensure a diamond’s sustainability is to look for one that is not only conflict-free, but also uses sustainable production methods.

Why Buy Used Lab Grown Diamonds?