Diamonds are a symbol of wealth and an indication of commitment.
From engagement rings to peacocking bling – Diamonds are everywhere in society.
But what is the skinny on lab-grown diamonds?
Lab-grown diamonds are identical to natural diamonds in every way, and can also be worth a great deal of money. Although costing less to produce than mining natural diamonds, and being slightly less in value, consumers can find a larger gemstone that has been produced in a laboratory. Lab diamonds can cost between 60% to 85% less than the price of a natural diamond of the same shape, size and quality.
Contents
How are Lab Diamonds Made?
Lab-grown diamonds are grown in highly controlled lab environments using an advanced process that duplicates the natural technology with which natural diamonds develop beneath the Earth’s crust. Lab-grown diamonds are made from actual carbon atoms sequenced in the classic crystal diamond structure.
Sustainability?
Unlike natural diamonds lab grown diamonds are a renewable commodity, and while exhibiting all the properties of a natural diamond they are more environmentally friendly and just as beautiful as the real thing. The industry is moving forward with lab-grown diamonds in NZ, and Australia becoming a real growth industry.
Valuation?
Diamonds sold by reputable jewellers are sold and priced in accordance with the internationally accepted Rapaport Pricing Method which takes into consideration the gemstone’s grade employing the 4 Cs – cut, colour, clarity, and carat – to set the price point.
Diamonds are forever, are a girl’s best friend, and are, since the last decade, being manufactured in a laboratory. It can take as little as two weeks for a diamond to be manufactured in a laboratory, and when factoring the man hours, the equipment, and the environmental destruction factored when producing diamonds in the traditional fashion, this advance in technology has to be welcomed by the environmentally conscious consumer.
Laboratory Diamonds – The Cost?
Like natural diamonds, the price of a lab diamond is determined mostly by the size, the quality, and the grade. The better the colour, clarity, and carat dictate the price. For a 1-carat lab diamond, excellently cut, high grade colour, and VS2 clarity, the price range would be just under AUS$3,500.00, the price of a similar quality natural diamond might be four times the cost. The total price of a ring will vary according to the design, the detail, and the material used to make the ring and base. So while natural diamonds command a higher price due to their scarcity, lab diamonds are breaking onto the scene with a new market presence.
The Future of Lab Diamonds?
While mining continues in Australia continues it seems that lab-created diamonds will take up a lot of the market share in the future as consumers want to hold and treasure a real diamond without breaking the bank or destroying the Earth’s crust to do so
