Diamonds have been cherished as symbols of eternal love and beauty but with lab-grown diamonds gaining popularity, there is always the dilemma of making the right choice. Lab-grown diamonds are often referred to as ‘fake diamonds’ but are they really? There is more to the commonalities and differences between the two. Lab-grown diamonds are created in a laboratory as compared to natural diamonds, formed over millions of years on the Earth.
Environmental & Ethical Impact
Lab-Grown Diamonds: While they avoid the ecological disruption of mining, lab-grown diamonds are still energy-intensive to produce. Production relies on electricity from fossil fuels like coal and releases 511 kg of greenhouse gas per diamond created.
Natural Diamonds: While mining diamonds can have significant environmental impacts, including deforestation, water pollution, and soil erosion, it still uses less land than other activities like agriculture. With the progression of new technologies and techniques, research suggests that the mining process can always become less polluting over time, and more sustainable.
Price
Lab-Grown Diamonds: On average, lab-grown diamonds are 60-80% cheaper than mined diamonds of comparable size and quality. This comes from the more streamlined production process without the need for expensive mining equipment or extensive transportation.
Natural Diamonds: In contrast, although natural diamonds tend to be pricier due to the extensive labour and resources required for mining, it is the rarity of the diamond that you are paying for. The reality is that natural diamonds are a much better store of value than lab growns. Yes it’s a luxury product but as time goes by the price of diamonds have only increased.
Market & Resale Value
Resale value is influenced by the rarity and traceability of diamonds. Given that lab-grown diamonds are not as rare, this could negatively impact the resale value of the jewellery. Owing to their rarity, natural diamonds hold their value better with a potential for increase in value over time.
Prices of lab grown diamonds are starting to fall as technology advances in their production keeps evolving. This will soon make lab grown diamonds the same price as other diamond simulants like moissanite or cubic zirconia.
Appearance & Quality
Lab-Grown Diamonds: Lab-grown diamonds are chemically identical to natural diamonds, showcasing the same brilliance and sparkle since they adhere to the same grading standards (the 4Cs). However, they are not as rare as natural diamonds and tend to lack texture, often having a more uniform appearance. By “texture”, I mean the inclusions and colours generally found in diamonds as they come into contact with other elements while they form in the Earth’s mantle.
Natural Diamonds: Natural diamonds are known for their beauty and rarity. The texture and imperfections of these diamonds are referred to as “nature’s fingerprints”, further adding to its geological story. Given the extensive process of formation and extraction, each natural diamond makes for a unique treasure.
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