Compared to natural diamonds that are generally being considered to be losing their appeal or rather ‘bling’, lab grown diamonds are slowly eating up market share from natural diamond due to the many advantages that these lab creations have to offer.
Among the main advantages that synthetic diamonds which are identical to natural diamonds both physically and chemically includes ethical sourcing, cost-effectiveness, significantly lower environmental impact and much greater customization options without compromising the sparkle and durability that natural diamonds offer.
Below are brief overviews of the benefits that lab grown diamonds have to offer that those intending to buy or sell diamonds should be aware of.
Ethical Consideration and Sustainability
Unlike naturally mined diamonds, lab grown stones are created in controlled laboratory environments which essentially eliminates any sort of ethical concerns that has been often tied to conventional diamond mining practices. The fact that these gem stones are created artificially in labs ensures that the environmental impact linked to their production is minimal.
In essence the creation of lab grown diamonds does not consume any habitat or land eliminates any possibility of habitat destruction. Added to the fact that much less energy is used to create these diamonds compared to mining process renders the lab grown diamond industry as a sustainable and for the most part ‘a green industry’.
Those who intend to buy lab grown diamond jewellery or engagement rings could easily declare that they made a responsible choice. This is an important factor for consumers who are environmentally conscious.
Affordability
The simple fact of the matter is that lab grown diamonds are way more affordable than mined diamonds which for a very long time has only catered for the rich, with the arrival of synthetic diamonds, luxury jewellery has become accessible to just about everybody. It is value for money considering that there is almost no difference between lab grown and natural diamonds, chemically and physically they are both identical.
The only reason as to why lab grown diamonds are cheaper is because it is cheaper to produce them in labs than to mine them from the earth and this allows the average ordinary individual being able to afford not just larger diamonds for just 10% of natural diamonds, but also buy higher quality diamonds because lab grown diamonds possess higher purity and less flaws.
Last, but not least is the higher level of customization and design flexibility that lab grown stones offer. This is simply because lab grown diamonds can be curated as the lab techs have a certain level of control over the size, shape, and colour of the diamond which in turn allows for unique and much more personalized jewellery to be designed.
This factor alone has afforded the lab grown industry players an advantage over natural diamond sellers as consumers are given more choices, at lower cost but higher quality. The only negative aspect of lab grown stones is that diamonds have all, but lost their store of value and no longer seen as an option for investment.