The Sparkling Rise of Lab-Grown Diamonds: A New Era of Sustainable Luxury
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Estimated read time:
10 minutesLab-grown diamonds, once a novelty in the jewelry industry, are taking center stage as consumers increasingly value sustainability and ethical sourcing.
Recent search data released has given us a fascinating insight into this trend.
Search volume data around lab-grown diamonds reveal a substantial uptick over the past year.
“Lab grown diamonds rings” showed a 49% increase year-on-year, while “lab grown diamond earrings” experienced a 52% year-on-year increase.
"Lab grown diamonds Chicago" and "lab grown diamonds near me" surged by 53% and 90% respectively.
Comparison terms "lab grown vs mined diamonds" increased by 85% year-on-year, and most notably, the query "what are the disadvantages of lab grown diamonds" skyrocketed with a 300% year-on-year increase.
In this article...
- The Shift to Lab-Grown Diamonds
- Delving Deeper into Lab-Grown Diamonds
- Lab Grown vs Mined Diamonds: What's the Difference?
- Are Lab-Grown Diamonds More Ethical?
- What Are the Different Types of Lab-Grown Diamonds?
- What Percentage of Diamonds Are Lab-Grown?
- Do Lab-Grown Diamonds Hold Their Value?
- How Are Lab-Grown Diamonds Made?
- What Are the Disadvantages of Lab-Grown Diamonds?
- How much are Lab Grown Diamonds?
- Where Can I Find Lab-Grown Diamonds Near Me?
The Shift to Lab-Grown Diamonds
As Peter Manka, co-owner of Ben Garelick, observed, this trend is palpable in real-world sales too.
"We used to sell 100% loose (center) mined diamonds for engagement rings, and now, since demand is so high, 95% of our center diamonds for engagement rings are lab grown," he said.
The company is now expanding its offering of lab-grown diamond jewelry, from tennis bracelets and diamond stud earrings to rings, pendants, and necklaces. In response to the growing demand for loose center lab-grown diamonds, Ben Garlelick has introduced a unique series of engagement rings, all made with lab-grown diamonds.
This collection is continuously expanding as we develop more designs to complement and add value to this highly sought-after collection.
Delving Deeper into Lab-Grown Diamonds
As interest in lab-grown diamonds continues to rise, it's natural for more questions to emerge.
We've collected some of the most frequently asked questions on the web and provided clear, concise answers for your better understanding.
Lab Grown vs Mined Diamonds: What's the Difference?
Both lab-grown and mined diamonds are, in fact, real diamonds. They share the same physical and chemical properties.
The key difference lies in their origin. Mined diamonds are sourced from the earth, requiring extensive mining operations that can have significant environmental impacts.
On the other hand, lab-grown diamonds are created in a controlled environment, which reduces these impacts, making them a more sustainable choice.
Are Lab-Grown Diamonds More Ethical?
Many consumers consider lab-grown diamonds to be more ethical due to their lower environmental impact compared to mined diamonds.
Lab-grown diamonds also eliminate concerns about "blood diamonds," or diamonds mined in war zones where profits may fund armed conflict. However, as with all products, the ethics of production can vary among manufacturers.
When evaluating a brand, it's important to consider if the materials used in their jewelry are sustainable or ethically sourced.
For instance, our line of lab-grown engagement rings designed by us, use recycled materials in our rings along with ethically sourced lab-grown diamonds.
Featured Lab-Grown Diamond Engagement Rings
Furthermore, it's essential to investigate the manufacturer and ensure their suppliers adhere to The SCS-007 Jewelry Sustainability Standard.
This standard represents the benchmark we strive for when we talk to our customers about the lab-grown diamond center diamond when purchasing their engagement rings.
What Are the Different Types of Lab-Grown Diamonds?
There are two primary methods for creating lab-grown diamonds, each resulting in a different type of diamond:
- High Pressure, High Temperature (HPHT): This process simulates the natural diamond-growing conditions. It involves high temperatures and high pressure to turn carbon into a diamond.
- Chemical Vapor Deposition (CVD): This method involves placing a diamond 'seed' in a sealed chamber and filling it with a carbon-rich gas, which is then heated until the carbon atoms begin to 'rain' down onto the diamond seed, slowly building up layers to form a diamond.
What Percentage of Diamonds Are Lab-Grown?
Lab-grown diamonds have seen a rise in popularity over the past few years. Back in 2018, lab-grown diamonds made up a meager 2% of diamond jewelry sales. However, by 2022, they had captured a remarkable 10% of the market.
This fivefold increase in just four years underscores the growing consumer appetite for these sustainable and ethically-produced gems.
Do Lab-Grown Diamonds Hold Their Value?
Like mined diamonds, the value of a lab-grown diamond depends on several factors such as size, cut, color, and clarity.
However, in general, lab-grown diamonds are less expensive than their mined counterparts, largely due to reduced production costs and lack of scarcity. This price difference may impact their resale value.
As with any investment, prospective buyers should conduct thorough research before making a purchase, but as a brand, we would recommend against buying diamonds (mined or lab) for investment purposes and buy them because of their beauty, sparkle and the happiness they bring to their owner!
How Are Lab-Grown Diamonds Made?
As mentioned above, lab-grown diamonds are produced by two primary methods: High Pressure, High Temperature (HPHT) and Chemical Vapor Deposition (CVD).
Both methods essentially recreate the conditions under which diamonds naturally form, allowing carbon atoms to arrange themselves into the crystal structure of a diamond.
What Are the Disadvantages of Lab-Grown Diamonds?
While lab-grown diamonds have many advantages, there are a few considerations that some might perceive as disadvantages.
Some critics argue that lab-grown diamonds lack the natural scarcity and unique geological history of mined diamonds, which can hold significant emotional appeal.
However, it's important to note that lab-grown diamonds are identical to mined diamonds in terms of their appearance and durability.
How much are Lab Grown Diamonds?
Lab-grown diamonds typically cost less than natural diamonds, but the exact price can vary significantly based on the diamond's size, shape, quality, and color, similar to natural diamonds.
On average, a 1-carat lab-grown diamond might range from $800 to $2,000, while a 1-carat natural diamond could cost between $4,500 and $12,000, or even higher for premium quality stones.
Where Can I Find Lab-Grown Diamonds Near Me?
Many jewelers now carry lab-grown diamonds due to increased demand. A quick online search should show jewelers near you that carry these sustainable gemstones.
Ben Garelick, for instance, carries a wide variety of lab-grown diamond engagement rings, wedding bands and lab-grown diamond jewelry available in store and online.
Final Thoughts
This trend is not a passing fad. It's a reflection of conscious consumerism and a desire for sustainable luxury.
As more and more consumers opt for lab-grown diamonds, we are likely to see a continued shift in the industry. Jewelers that adapt and evolve will not only meet this growing demand but will also contribute to a more sustainable future.
Ben Garelick is a certified dealer in the sale of eco-friendly diamonds so if you're considering buying a sustainable gemstone, feel free to contact us at (716) 631-1584 or send us a text at (716) 574-0966.
You can also pay us a visit at our location in Buffalo, NY. Our helpful team is always eager to assist you during your selection process.
Additionally, for your convenience, you can engage in an online chat with one of our experts at any hour of the day, seven days a week.
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