There are several benefits to buying a lab-grown diamond. Aside from its natural beauty, it is cost-effective and environmentally friendly. Here is a quick review of the benefits of lab-grown diamonds. This article will discuss their cost, size, quality, and environmental impact. Then, you can decide whether to purchase a lab-grown diamond or a traditional one. Hopefully, you will feel more confident about the decision after reading the information in this article.
Cost
The resale value of lab grown diamonds is undefined and uncertain, but the prices of natural diamonds have held their value for decades. Moreover, their prices have fallen since the rise in lab-grown diamond production. However, that does not mean that the natural diamonds are no longer worth their price, as their wholesale value has remained stable in recent years. The perception of lab-grown diamonds is also important, especially if the diamond is intended for a proposal.
The cost of lab-grown diamonds varies significantly depending on where and how they are purchased. While the price of a one-carat lab created diamond may be between $800 and $1000, that figure is still relatively expensive when compared to the $6100 or more of a natural-mined diamond. Nevertheless, the prices of two-carat and three-carat lab grown diamonds are comparable and can be purchased at the same price.
Size
The market for man made diamonds UK is booming. In 2018, the market for lab-grown diamonds was less than a percent of all diamond sales, but it increased to more than two percent by 2019. With more producers coming online, it is expected that the share will rise to more than 3.5 percent by 2020, which is considerably higher than the one attained last year. Regardless of the market size, lab-grown diamonds are still relatively small and are largely used as novelty jewelry.
Metech International Ltd, an expert in the metal industry, has entered the lab-grown diamond market. As a part of the joint venture, it plans to use the expertise of its subsidiaries to produce lab-grown diamonds. Metech will control 51% of the JV company, while X Diamond Capital will own the remaining 49%. According to the joint venture agreement, the JV company will produce lab-grown diamonds, while Metech will provide technical support.
Quality
Lab-grown diamonds are graded using the same four-C’s as mined diamonds. These diamonds receive a certification from independent laboratories, such as the Gemological Institute of America. While the GIA’s report for a lab-grown diamond is different from a natural diamond’s, the two labs do grade these gems on the same scale. Because these lab-grown diamonds are artificial, they are not available as outlet items.
The main difference between mined diamonds and lab-grown diamonds lies in their production process. Natural diamonds cost hundreds of thousands of dollars per carat. A lab-grown diamond costs a mere fraction of that price. Its color remains constant, and it is easy to find. This fact alone has made lab-grown diamonds an increasingly popular choice for eco-conscious consumers. However, some of these gems do have a higher price tag than mined diamonds.
Environmental impact
There are many positives and negatives of mined and lab grown diamonds. The social benefits are clear: lab grown diamonds avoid the destruction of ecosystems and conflict in producing countries. They avoid the use of child labor in mines, as well as the destruction of war-torn countries. But what is the environmental impact of lab grown diamonds? It’s hard to find a simple answer. But we can take some steps to mitigate their impact.
Conclusion
First, lab-grown diamonds are ethically sourced. They’re not mined in conflict zones and don’t require huge machines and explosives. Additionally, they’re conflict-free and ethically sourced, which means they won’t support child labor. Furthermore, they’re worth much more than their naturally-grown counterparts. So, the question is, which one is better for the environment? Let’s take a closer look.
