Lab grown diamonds are gaining in popularity but remain a bit of a mystery to many people. They’re created in a lab through a process that replicates the way natural diamonds are formed in the earth.
They look and shine just like lab grown diamond jewellery real diamonds and are graded using the same 4 C’s (color, clarity, cut and carat weight). But do they have monetary value?
1. They’re cheaper
Lab grown diamonds (also known as synthesis, cultured, synthetic or lab created) are real diamonds that share the same physical and chemical properties as mined diamonds. They look exactly the same, with only specialized equipment or a GIA diamond grading report able to tell them apart.
It’s also still early days for the lab-created market, so prices are a steal when compared to natural diamonds. However, the price gap will likely narrow over time as the technology becomes more commonplace. For now, you can enjoy a 30% discount on investment-grade lab diamonds.
2. They’re more environmentally friendly
As the diamond industry shifts toward sustainable options, consumers are increasingly interested in lab grown diamonds. However, it’s important to know what to look out for when shopping for a lab created diamond to ensure you’re making the most eco-friendly choice.
Traditional mined diamonds are known to release 125 pounds of carbon dioxide for each carat of gem, while lab grown diamonds only release 6 pounds. Plus, they also use less energy to be produced, making them a more environmentally friendly option.
3. They’re more durable
Diamonds are incredibly durable, but they can still be damaged by external factors. When that happens, a diamond’s value decreases.
Lab grown diamonds are ten times more durable than mined ones. This makes them an excellent alternative to mined diamonds for jewelry designers and retailers.
Just like traditional diamonds, high quality lab grown diamonds are graded according to their cut, clarity, and carat weight. The difference is that lab-created diamonds are accompanied by a grading report from an independent gemological institution. It’s this grading that ensures the highest level of consistency for lab grown diamonds.
4. They’re more popular
The jewelry industry has seen a shift in popularity toward lab grown diamonds. This is partly due to the fact that they look just like natural diamonds and can be bought at a fraction of the cost.
They also require less energy to create, so they don’t negatively impact the environment as much. Additionally, lab created diamonds touch fewer people throughout the supply chain, meaning that costs are kept low for shoppers.
While there are many benefits to purchasing a lab-created diamond, it is important to weigh the pros and cons carefully. One of the main downsides is that lab created diamonds do not retain resale value, while mined diamonds may.
5. They’re more rare
While the mining industry tries to position mined diamonds for the upper class and lab-created diamonds for everyone else, consumers aren’t buying it. In fact, a recent survey revealed that more and more jewelry retailers are selling lab grown diamonds.
Lab-created diamonds look and feel just like natural diamonds. They can also be analyzed with the same gemological equipment. Most lab-created diamonds come with a gem certification that clearly identifies them as laboratory created.
However, because they are produced in large quantities, lab diamonds have a weaker resale value than mined diamonds. They are not recommended as an investment piece.
6. They’re more ethical
Diamonds are a symbol of love, and nothing tarnishes that like conflict, environmental destruction and unethical sourcing. While lab grown diamonds are not a cure-all for these issues, they do provide a safe and more ethical alternative to mined diamonds.
They do this by replicating the high pressure, temperature conditions and use of gases that naturally create diamonds underground. This allows them to be created in weeks rather than millions of years. This saves energy and reduces waste. They also avoid the need for diamonds to be cut and polished in the bustling city of Surat, India, where workers are exposed to silicosis and other deadly dust.
7. They’re more customizable
Unless you’re wealthy enough to afford an expensive mined diamond, chances are that you’ll be purchasing a lab grown gemstone. The good news is that this isn’t necessarily a bad thing!
Chemically, physically and optically, a lab-created diamond is identical to a natural diamond. In addition, online retailers give you more options for choosing a diamond or designing an engagement ring. This allows you to browse at your own pace and avoid feeling rushed or getting buyer’s remorse. Lastly, you can also choose from more variety in terms of color.
8. They’re more durable
Diamonds are an aspirational product, and lab diamonds have tapped into this market by offering more affordable options. The industry is growing on a steady basis because of consumer acceptance and awareness.
Many of the same grading agencies that assess natural diamonds grade lab created stones using the same standards and scales. Ultimately, this means that the differences between natural and lab diamonds in terms of cut, clarity, color, and carat weight are minimal.
A trained gemologist can still tell the difference, though. So if you’re shopping for a real stone, be sure to look at the grading report.
9. They’re more popular
While diamonds are still the most popular center stone for engagement rings, lab grown diamonds are also becoming increasingly popular. This is because they offer a number of benefits that make them an attractive alternative to mined diamonds.
For instance, lab-grown diamonds can be lab grown diamonds crafted to have the same look and feel as mined diamonds. Furthermore, they typically cost 50-70% less than their natural counterparts.
This means that they are an excellent option for consumers looking to save money while buying a genuine diamond.
10. They’re more ethical
In terms of ethical diamonds, lab grown diamonds are the better choice. This is because mined diamonds can come from conflict areas and are often associated with blood diamonds, which are used by rebel forces to fund attempted coups. Lab diamonds, on the other hand, are not associated with these issues.
When buying a lab grown diamond, make sure to buy from a reputable source that is committed to reducing its energy footprint. This will ensure that you’re getting a truly sustainable gem! And don’t forget to check the clarity!