Why are Lab Grown Diamonds becoming so popular?
- The laboratory-grown diamond market is reshaping the landscape of jewelry. It's a segment that combines advanced technology, sustainable practices, and the timeless allure of diamonds to offer consumers an ethical and economically viable alternative to natural diamonds.
- This industry has caught the attention of investors and consumers alike. The former are attracted by its high growth potential, innovative scope, and the opportunity to partake in an industry steeped in tradition yet open to change. On the other hand, consumers are drawn to these diamonds for their affordability, ethical production devoid of any humanitarian issues, and minimal environmental footprint.
- The jewelry market is witnessing a major transformation due to the emergence of lab-grown diamonds. This segment merges sophisticated technology, sustainable practices, and the enduring charm of diamonds to present a cost-effective and ethical alternative to natural diamonds.
- This shift has captured the interest of both investors and consumers. Investors see significant potential for growth, appreciate its innovative nature, and value the chance to be involved in an industry that, while steeped in tradition, is ready for change.
- For consumers, lab-grown diamonds offer an affordable and ethically-sourced alternative. These diamonds are devoid of any humanitarian concerns often associated with natural diamond mining and also leave a much smaller environmental footprint.
What is average cost of Lab Grown Diamonds?
It surely costs money to grow a Lab Grown Diamond over a period of 35 to 40 days, it is materially less than what it takes to mine a diamond from earth.
Typically, a lab grown diamond with same specs (4C's) as mined will cost about 1/4th to 1/5th of the price.
What are some pros of Lab Grown Diamond?
- You will get a bigger diamond for the same amount & same quality (4C's)
- There is no physical or chemical difference between a Lab Grown Diamond or Mined Diamond, looking exactly the same, with only difference being their origin. One cannot know the difference unless they use advance equipment to test.
- Lab Grown Diamonds are more sustainable, earth-friendly & conflict free.
What are some Cons of Lab Grown Diamond?
- There is some level of certainty with Mined Diamonds which does not exist with Lab Grown Diamonds. You will still be able to reuse the diamond & it will hold its quality & sparkle, but not its value as a natural diamond which has been around for centuries. You should keep in mind, with larger adoption of Lab Grown Diamonds there is material uncertainty about prices of Mined Diamonds as well.
- Even though Lab and Mined Diamonds are exactly the same, the "origin" of diamond may matter to some people.
What are some of molecular differences between Lab & Mined Diamond?
- Lab grown diamonds mainly contain metal inclusions found in the growth solution.
- Sometimes, when a diamond is exposed to UV light after the source is taken away, it will glow a different color (usually blue or orange). This is called phosphorescence. Almost all lab grown diamonds will have some degree of phosphorescence & some mined diamonds, but its less common.
- Sometimes lab created diamonds will have a blue tint to them. This results from trace amounts of the mineral boron (also what makes a blue diamond blue) which is sometimes used in the growing chamber to remove excess nitrogen (what gives a diamond its yellow tint). If you are very sensitive to color you may be able to pick up on these tints at times, however only from the side angles. When viewing from the top (usually how the stone is set in jewelry) these tints are much less recognizable.
Can a Jeweler tell if a diamond is Lab Grown?
Only with sophisticated equipment. Or by “cheating” and reading the laser inscription on the girdle of the diamond, which would say LG before the certificate number. Without looking at the inscription, it's very hard to tell the difference with regular testing equipment not found in a laboratory like IGI. Testing devices are becoming more popular for the industry, but they are still quite costly and don't always work 100%. It also depends on how much training the person has. If you take the stone to a Graduate Gemologist it may be easier for them to tell the difference versus a jewelry store salesperson or even a bench jeweler. We have often seen cheap handheld testers show incorrect results.
Are Lab Grown Diamonds worth buying?
Absolutely! Just because they don't hold value on the secondary market doesn't mean they aren't a great option. The old adage, spend 3 months' worth of your salary on a diamond has gone out the window. With a lab grown diamond, you can get a larger, higher-quality stone for less. The best part about it, nobody will ever be able to tell the difference!
How is this different from diamond simulants or synthetics?
A 'synthetic' or a ‘simulant’ usually refers to something like a moissanite or cubic zirconia. These are not chemically diamonds but are designed to look like real diamonds - but are easily identified by professionals as fakes. "Simulants" will not last test of time and are easily scratched or cracked.
Is the IGI or GIA grading process different for Lab Grown Diamonds?
The grading process is exactly the same, and the report still contains all of the same information that you see on a mined diamond report. It will clearly list if the diamond is Mined or Lab grown.
Also, the IGI reports for Lab Grown have brown borders while for natural they are blue. That's only so you don't get them mixed up.