Are Lab Grown Diamond Prices Declining? (2024)

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by Suzanne Sachs 5 min read

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THE BASICS--

The world of diamonds is undergoing a significant transformation, with lab-grown diamonds gaining prominence as an ethical and sustainable alternative to their naturally occurring counterparts. A notable two-fold aspect of this transformation is the declining prices of lab-grown diamonds, a trend that has been reshaping the diamond industry in recent years. Additionally, lab-grown diamonds are frequently marketed as a greener alternative to naturally mined counterparts, yet their environmental impact is more nuanced than it might appear. As technology advances, competition intensifies, and consumer demand evolves, lab-grown diamond prices have been on a steady descent. Let's delve into the factors driving this price decline, investigate the existence of a secondary resale market for lab-grown diamonds, assess its impact on the environment, and explore how this trend is impacting both the diamond market and consumers.

What You Need To Know--

In this guide, we will explain the following:

  • What are Lab Grown Diamonds?
  • Are Lab Grown Diamonds Eco-Friendly?
  • Why are Lab Grown Prices Declining?
  • Increased Supply & Economies of Scale
  • Increased Competition
  • Price Transparency
  • Resale Value of Lab Grown Diamonds
  • Which Vintage Diamonds are Most Eco-friendly
  • Vintage Old European and Mine Cut Diamonds
  • The Most Sustainable Diamonds of All

What Are Lab Grown Diamonds?

In chemical vapor deposition, a carbon-rich gas undergoes breakdown within a vacuum chamber and is subjected to laser or microwave bombardment. Within the chamber, a seed crystal serves as the foundation for a new crystal to develop from the dissociated carbon atoms. As these atoms accumulate, they form an identical crystalline and chemical structure to that of natural diamonds. Subsequently, this rough diamond can be cut and polished into a high-quality gemstone, much like the process for natural diamonds extracted from the Earth. and polished into a fine gemstone, just like a natural stone mined from the earth.

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Are Lab-Grown Diamonds Eco-Friendly?

While naturally mined stones are notorious for their environmental impact, lab-grown diamonds are frequently lauded as a more eco-friendly alternative. It holds true that the resources required for crafting lab-grown gems are often lesser in comparison to the damage caused by natural mining operations. However, it's crucial to recognize that this comparison remains relative, as lab-grown diamonds still demand substantial resources and can contribute to significant environmental consequences.

The various processes involved in crafting lab-grown diamonds and gemstones entail subjecting the materials to high heat and intense pressure, facilitating the desired crystal formation. This procedure demands a substantial amount of energy, frequently derived from coal or natural gas plants, contributing to elevated carbon emissions. Additionally, a significant volume of water is essential for cooling the facilities and supporting lab operations, highlighting the resource-intensive nature of these ostensibly eco-friendly stones. 

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Why Are Lab Grown Prices Declining?

Lab-grown diamonds have become an increasingly popular choice for consumers seeking ethical and sustainable alternatives to newly mined earth diamonds. One significant development in this market is the decreasing prices of lab-grown diamonds. Why are lab-grown prices declining, and is there an end in sight?

• Increased Supply & Economies of Scale

As the lab-grown diamond industry continues to expand, manufacturers are increasingly producing these lab grown diamonds in larger quantities. This scaling of production has enabled them to capitalize on economies of scale, resulting in reduced production costs. Consequently, prices have been on a continuous decline with no apparent end in sight.

• Increased Competition

As more companies have entered the lab-grown diamond market, competition has intensified. This competition has led to price competition among producers, resulting in lower prices for consumers.

• Price Transparency

Increased transparency in pricing and certification of lab-grown diamonds has helped consumers make informed choices and find competitive prices.

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Resale Value of Lab Grown Diamonds

Currently, lab-grown diamonds have no resale value, primarily due to the lack of interest in the secondary market. Consequently, the industry must continuously produce new gems to meet consumer demand. This stands in stark contrast to the higher resale value observed for old European and mine-cut diamonds. Vintage diamonds like these can find new life in estate jewelry or be reset into alternative pieces, allowing for the creation of "new" jewelry while preserving the timeless allure of natural stones.

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Why Vintage Diamonds Are Most Eco-Friendly?

In the final analysis, it's essential to acknowledge that both naturally mined and lab-grown diamonds can exert a significant environmental toll. Although lab-grown gems may initially appear slightly more environmentally friendly, the limited resale interest negates any marginal advantages in terms of eco-friendliness.

• Vintage Old European and Mine Cut Diamonds

The most environmentally friendly gems of all are antique and vintage diamonds. These stones were naturally mined many years before the advent of lab-growing techniques, and the mining practices of decades past generated fewer greenhouse gases, primarily due to the reduced use of heavy equipment. Moreover, reusing these stones today contributes to zero new environmental harm. Antique and vintage diamonds represent the pinnacle of recycling and reusing, especially when the entire ring or other vintage jewelry piece is preserved, eliminating the need for new metal as well.

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The Most Sustainable Diamonds of All

The ongoing decrease in prices of lab-grown diamonds is driven by factors such as increased supply, technological advancements, heightened competition, and evolving consumer preferences. While lab-grown diamonds offer ethical and sustainable advantages, it's crucial to recognize that they are not entirely without their environmental impact. By developing a deeper appreciation for and embracing vintage and antique diamonds, environmentally conscious diamond buyers can relish the allure of these exquisite gems while simultaneously contributing to the preservation of the Earth's beauty and finite resources.

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Vintage Engagement Rings For Everyone:

No matter which gemstone is your favorite, these time-honored gemstone have a rich history and individualized character and will continue to have a timeless beauty and elegant appeal that is part of a legacy to pass on to future generations.

Find The Perfect Engagement Ring:

Antique rings are prized not only for their beauty but also for their exquisite attention to detailing and design. If you’re looking for a ring with a sense of glamour, sophistication and vintage charm, explore our collection of vintage engagement rings today!

Suzanne Sachs

Suzanne has always believed vintage rings can change lives. She's been in the jewelry industry for over 35 years, working with vintage jewelers, diamond dealers, diamond cutters, and gemologists. Suzanne started Artdecodiamonds in 2000 and understood the demand for vintage rings throughout the world. She ultimately started VintageDiamondRing.com in 2014, and understands each vintage ring is a reflection of you – your history, your relationships, your style, your elegance and is honored to have the opportunity to help you showcase your flair in a unique and exquisite way.

 

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