Lab Created Diamonds
If you’ve been considering other options besides genuine naturally mined Diamonds you’re not alone. A recent survey of young couples in 2019 showed that approx. 18% of couples chose to purchase a Diamond alternative. This is a jump compared to the 13% the year before in 2018.
We know Diamond alternatives are on the rise, we even have recent confirmations from the Diamond powerhouse De Beers reporting a lull in sales in recent years. They reported a 39% decrease in sales in 2019 compared with 2018.
So why are young couples searching for a Diamond alternative and why are they drawn to the Lab Created Diamond? There are quite a few reasons in fact and they all make sense when comparing them side by side.
The main reason and one of the most important ones is the price tag. Lab Created Diamonds are significantly less expensive than the same size, colour and clarity in a natural Diamond. When buyers are adding up the cost for usually the third most expensive purchase of their lives behind the house and car, it’s no wonder that the price is a huge draw card. Comparing one of the most popular choice for an Engagement Ring…the Round Brilliant, we see prices for a GIA certified G colour and SI1 Clarity in an Excellent cut natural Diamond exceeding $8000 Australian dollars. The same in a Lab Created Diamond is $4000. With a saving of 50% its an easy choice for most who still want the brilliance of a Diamond yet want to save money to put towards the house or honeymoon.
To lend to the price, the fact that they are identical in both look and feel is another benefit for buyers when considering these Diamond alternatives. The lab counterparts are a 10 on the Moh’s scale of hardness, which is the same position as natural Diamonds and due to fact that they are essentially formed the same way they are virtually exactly the same albeit just sped up by a billion years. This is quite a wait when comparing the process to create Lab Diamonds which takes around 25 – 30 days including the cutting.
If the price and the fact that they are virtually the same thing isn’t enough to convince, the impact they have on the environment compared with naturally mined Diamonds usually is. Lab Created Diamonds aren’t mined and therefore are completely ethically sourced and conflict free. This has such a huge appeal to young couples who are both environmentally and socially conscious of the way natural Diamonds are mined and produced.
With these incredible alternatives on the rise, we are seeing an increase in purchases all over the world. Lab Created Diamonds Sydney, London, New York and even Beijing are now quickly becoming a popular and sought after choice. In a time where technological advances have made a huge impact on not only the production of these Diamonds but also the cutting techniques, there’s no wonder the sales are starting to reflect the trend.