Lab-grown diamonds are diamonds that are made in a laboratory by mimicking the conditions that produce natural diamonds. Lately, there has been increased interest among the people regarding lab-grown diamonds. This has led to the growth of the lab-grown diamond industry.
As per statistics, the worldwide lab-grown diamond market size was pegged at $19 Billion in 2020. It is further expected to grow at a Compounded Annual Growth Rate (CAGR) of around ten percent between 2021 to 2030. It is set to reach a market size of $50 Billion by 2030.
Thus, investing in lab-grown diamonds can prove to be a good decision monetarily. In addition, investing in lab-grown diamonds provides a plethora of other benefits. But what are the pros and cons? Some of them are discussed below.
Benefits of Investing in Lab-Grown Diamonds
There are a few reasons why investing in lab-grown diamonds may be a good idea.
1. Environmentally-Friendly
It’s no secret that diamonds are a popular choice for engagement rings and other fine jewelry. But what you might not know is that the majority of these diamonds are mined, often in environmentally-damaging ways.
Fortunately, there is an alternative: lab-grown diamonds. These diamonds are created in a controlled setting, using advanced technology. And because they don’t require mining, they are a much more environmentally-friendly option.
In addition, lab-grown diamonds are often less expensive than mined diamonds, making them a great choice for budget-conscious shoppers. So if you’re looking for a beautiful diamond that won’t cost the earth, consider investing in a lab-grown diamond.
2. Greater Purity
If you are looking for a more pure diamond, lab-grown diamonds are the way to go. They have less included impurities than mined diamonds and will often test as higher purity on a clarity scale. In fact, nearly all lab-grown diamonds will test as VVS or better on the clarity scale (compared to 25% of natural diamonds).
It is important to note that “purity” is different than “quality.” All diamonds – whether mined or lab-grown – start as a carbon crystal that contains tiny included impurities. The skill of the cutter determines how much of the original crystal is retained and how sparkly and brilliant the final diamond will be.
So, even though lab-grown diamonds may be purer, they may not have the same quality (or value) as a mined diamond with fewer impurities.
3. Improved Quality
In recent years, lab-grown diamonds have become increasingly popular as an alternative to natural diamonds. While they may not have the same history or emotional value, lab-grown diamonds offer a number of advantages in terms of quality and cost.
In terms of quality, lab-grown diamonds are actually superior to natural diamonds in many ways. They are typically purer, with fewer imperfections and inclusions. Additionally, they can be created in a wide range of colors and sizes, making it easy to find the perfect diamond for any setting.
And because they are grown in a controlled environment, lab-grown diamonds are guaranteed to be free of conflict. In terms of cost, lab-grown diamonds are also more affordable than natural diamonds, making them a great option for budget-conscious shoppers. So if you’re looking for a beautiful and high-quality diamond, investing in a lab-grown diamond is a wise choice.
4. Affordable
Lab-grown diamonds are man-made products that have numerous benefits over natural diamonds. One big benefit is that they are more affordable than natural ones. On average, lab-grown diamonds cost about 30% less than natural diamonds of the same quality and carat weight.
This is because the production of lab-grown diamonds is much more efficient and there is no need to incur the high costs associated with mining. In addition, lab-grown diamonds are also typically higher quality than mined diamonds since they can be grown under controlled conditions.
As a result, they tend to be clearer and have fewer inclusions. For these reasons, lab-grown diamonds offer an excellent value for those looking for an affordable diamond option.
5. Available in Different Colors
One of the benefits of investing in lab-grown diamonds is that they are available in a wide range of colors. Unlike natural diamonds, which are primarily found in shades of yellow, white, and brown, lab-grown diamonds can be created in any color imaginable.
This means that you can choose a diamond that perfectly matches your personal style or the overall design of your jewelry piece. Whether you prefer the classic look of a white diamond or the dramatic pop of a pink diamond, you can find it in a lab-grown version.
In addition to being available in a wide range of colors, lab-grown diamonds are also typically less expensive than their natural counterparts. This makes them an ideal choice for those who want the beauty of a diamond without the hefty price tag. So, if you’re looking for a unique and affordable diamond, consider investing in a lab-grown one.
6. Easily Traceable
Although “mined” diamonds have been traditionally seen as a more valuable investment, lab-grown diamonds are becoming an increasingly popular alternative. One key benefit of lab-grown diamonds is that they are easily traceable.
Unlike mined diamonds, which can often be difficult to track due to their extensive global supply chain, lab-grown diamonds can be easily traced from source to finished product. This makes them a more ethical and sustainable choice for investors.
In addition, lab-grown diamonds tend to be less expensive than mined diamonds, making them a more accessible investment for many people. For these reasons, lab-grown diamonds are an increasingly attractive option for those looking to invest in diamonds.
Cons of Investing in Lab-Grown Diamonds
While there are many benefits of investing in lab-grown diamonds, there are some cons to consider too.
1. May Not Hold Value as Well as Natural Diamonds
Although lab-grown diamonds have many benefits, one potential downside is that they may not hold their value as well as natural diamonds. This is because the market for lab-grown diamonds is still relatively new and undeveloped.
As a result, there is no guarantee that lab-grown diamonds will appreciate in value over time. In fact, some experts believe that the value of lab-grown diamonds may actually decrease as more and more are produced.
2. May Be Less Durable Than Natural Diamonds
Another potential downside of lab-grown diamonds is that they may be less durable than natural diamonds. This is because lab-grown diamonds are created using high-pressure, high-temperature (HPHT) methods.
This can sometimes result in weaker bonds between the atoms in the diamond. As a result, lab-grown diamonds may be more prone to chipping and breakage than natural diamonds.
3. May Not Be as “Rare” as Natural Diamonds
One final downside to consider is that lab-grown diamonds may not be as “rare” as natural diamonds. This is because, as technology to create lab-grown diamonds improves, it is becoming increasingly easy to produce them in large quantities.
As a result, the supply of lab-grown diamonds is likely to increase, which could eventually lead to a decrease in their value.
Also read: Are Highlighters Bad For Eyes?
Conclusion
Investing in lab-grown diamonds can have its pros and cons, so it’s important to do your research before making a decision. However, looking at the pros and cons discussed above, we can surely say that investing in lab-grown diamonds is a wise decision.