Listen to Experts: Are Lab-Grown Diamond Engagement Rings a Passing Trend?
It is quite fantastical to know that the concept of a lab-grown diamond would have been unthinkable decades ago. In fact, the first-ever such diamond was produced in 1954. It was a part of a project that had been ongoing since the 1940s.
The most interesting thing to note is scientists have been trying to produce diamonds in a lab since the late 1700s. Today, all forms of cuts, colors, clarities, and carats can be produced for engagement and wedding rings.
Even so, the question of the hour is whether mankind has touched the sought-after pinnacle. In other words, can lab-grown diamonds compete with their natural counterparts to become the centerpiece of a betrothal ceremony?
It appears to be so since the lab-grown diamonds market is growing at a rate of 9.6% till 2032. By this year, it is expected to become $59.2 billion. What if all of this is merely a passing trend?
This article will exclusively focus on that. We will discuss how lab-grown diamonds fare against naturally mined ones. Furthermore, you will get to know if engagement rings manufactured using these diamonds are here to stay.
How Are Lab-Grown Diamonds Different From Naturally Mined Ones?
To begin with, lab-grown diamonds are gemstones produced in a scientific laboratory. They are said to mimic the chemical composition of natural diamonds. Are they authentic and real since they’re essentially manmade?
Ever since it has been possible to replicate the composition of natural diamonds, the answer is a resounding yes. If we are to compare a lab-grown diamond against its natural variant, differences may be present.
However, it would take specialized equipment to point them out, even for appraisers or jewelers. This is to suggest that the naked human eye cannot tell the difference. Tools like spectroscopy and others may be needed to determine and distinguish the characteristics of each.
Are Lab-Grown Diamonds Certified?
Top institutes like the Gemological Institute of America (GIA) are responsible for testing and authenticating diamonds. However, do they certify lab-grown variants?
Yes, the GIA has been grading and certifying lab-grown diamonds starting from 2007. What’s noteworthy is that the institute no longer uses the term ‘synthetic’ in its identification reports.
These reports are more or less similar to those generated for natural diamonds. This means the same standards are used to test the stone’s color, cut, clarity, and carat.
Besides this, the report discloses the type of growth process used to produce the diamond. If any post-growth treatment has been performed to alter its color, the same will be duly mentioned.
Will They Pass a Diamond Tester?
The number-one question that most customers have regarding lab-grown diamonds is whether they are real. Even if such diamonds are not produced through natural means, they are very much real.
Because of their authenticity, a professional can use various testers on lab-grown diamonds. This will stay true even when instruments are able to identify a lab-grown diamond from a naturally produced one.
For instance, the two can be distinguished based on factors like composition and fluorescence. Even then, the lab-grown diamond will register as real. So, if a customer were to approach a jeweler with their lab-grown diamond for testing, it would (should) be identified as real.
Diamond simulants made of cubic zirconia or glass also heavily circulate the market, and these are inauthentic. If such a stone is passed through a tester, it will come across as fake.
Do These Diamonds Hold Their Value as Engagement Rings?
We have already mentioned previously how the lab-grown diamond market is expected to boom in the upcoming years. Customers prefer these stones over natural ones for their engagement.
What seems to be the primary driving force here is affordability. Lab-grown diamond engagement rings are accessible to the average customer. The same cannot be said of natural diamond rings.
It’s quite remarkable how these diamonds have even led to an increase in ring size. It was found that one in three surveyed customers purchased a ring that weighed over two carats. Many are even able to purchase rings of different accents and styles.
For instance, Grown Brilliance shares that lab-grown diamond rings are available in designs like eternity, solitaire, side stone, and halo. If one were to purchase all natural diamonds for such intricate styles, the cost would skyrocket.
It’s great that lab-grown diamond rings are more affordable, but how so if they’re also real? This is simply due to the fact that the process of producing a lab-grown diamond is far less challenging than mining natural stones.
Why Have Consumer Attitudes Changed?
There is little debate about the fact that consumer attitudes toward lab-produced diamond rings have changed. One reason as we have discussed is undoubtedly the lower prices.
Others like ethical and environmental concerns are equally important. The mining industry has long been the recipient of criticism for unsafe work environments, poor labor laws, and low wages.
These issues are not present with lab-grown diamonds. The labs they are grown in are regulated and safe, and the scientists are well-paid for this task. Moreover, the environmental impact of lab-grown diamonds is low since less energy and water is needed.
Mining, on the other hand, requires exorbitant volumes of water and energy to be carried out successfully. In fact, the carbon footprint as a result of lab-grown diamond production is 60% less compared to natural mining processes.
From what we’ve just discussed, it is clear that lab-grown diamonds are not a passing fad. The same may be true had the subject revolved around consumer preference.
However, more important matters like price, ethical reasons, and environmental concerns enter the picture. This is why we can be assured that plenty of future engagements will also be sealed with a lab-grown diamond ring.
