Written by Shelby Montel
A diamond investment is akin to art investment because finding the ideal diamond worth investing typically requires great awareness. Created in laboratories under similar conditions as natural diamonds, lab diamonds reduce chances of ethical violations resulting from mining, labor exploitation, and environmental damage. Although scientists started culturing these diamonds in the mid-20th century, it wasn't until the 1990s that technology evolved enough to engineer diamonds of top-notch quality.
Let’s study the trends and understand if investing in lab diamonds is worth your penny.
Identical to mined diamonds in physical, chemical, and optical properties, lab diamonds are produced much differently. They deploy cutting-edge technologies in advanced laboratories to mimic the natural processes that produce diamonds under the Earth’s crust. The primary methods are: High Pressure High Temperature and Chemical Vapor Deposition (HPHT and CVD). Even though the formation and retrieval process of mined diamonds and lab grown diamonds are absolutely different, the difference between the two cannot be deciphered by a naked eye as both have the same physical and chemical attributes.
One can't even discern the negative impacts that are associated with diamond mining. There have been endless instances of child labor exploitation in diamond mines and the funds amassed from illegal trade of mined diamonds are often used to finance war in conflict zones. It is said that lab diamonds emit just 6 pounds of carbon per carat whereas natural diamonds emit almost 125 pounds of carbon per carat. It is also important to note that barely 30% of mined stones dug from the Earth’s crust have gem quality.
If you are interested in diamond investment, then man-made diamonds are humane alternatives to mined diamonds. They are as sturdy as mined diamonds, their purity is unparalleled, they can reflect the same amount of light and brilliance, and they come at highly reasonable prices.
Lab created diamonds have many applications in industrial settings aside from fine jewelry. Lab diamonds are strong on the Mohs Hardness Scale, thus they can clean, cut, and drill very well. As a result, other industries have also seen a surge in demand for cultured diamonds.
Lab created diamond nanoparticles, also known as nanodiamonds, are highly favored by medical researchers because of their unique features. The reflective qualities of these diamonds allow researchers to track the cellular reactions that occur in patients post-medications. Nanodiamonds are a great way to gauge the effectiveness of cancer drugs. Owing to their special affinity with light, medical experts have also considered using them to assist the visually impaired. It is also being investigated if diamonds can be used as a possible component for visual prosthesis (bionic eyes) and eye implants. Moreover, lab diamonds are used in speaker domes as they can vibrate at high speed without distorting the audio quality owing to their hardness, and diamond record needles are a standard equipment required for DJ gear and advanced record players.
If you are a professional working in any of the industries mentioned above, then lab diamond investment will be a more feasible decision for you. In several industrial operations, lab diamonds have proven to be the most affordable & practical alternative compared to other abrasives since they cut faster and last longer.
With evolving technologies lab diamonds are expected to become more popular. They are set to upend the traditional diamond industry with gems of better quality and affordable prices. Needless to say, the growth of lab diamonds will be spearheaded by GenZ and millennials.
Lately, celebrities have also increasingly embraced lab grown diamonds as a more ethical alternative. They have gone as far as adding them to their private collections and even donning them on red carpets. Among them are well-known figures like Leonardo DiCaprio, Meghan Markle, Penélope Cruz, Emma Watson, Drake, Reese Witherspoon, Julia Roberts, and Kacey Musgraves.
Celebrity endorsements have played a huge role in shaping the buying behavior of luxury jewelers and retailers. As per some reports, 56% of jewelers currently think that lab diamonds are as good as mined diamonds and 60% jewelers are now stocking lab diamonds, which has grown from just 10% in 2016. With growing concerns surrounding mined diamonds, it has become even more crucial for retailers more than ever, to invest in technologies and prevent uncertified stones from entering the market.
If diamond investment has always intrigued you, then consider giving lab diamonds a chance. Lab diamonds are indisputable epitome of elegance and uniqueness. These dazzling beauties are cut and polished to produce the brilliance we love.
It will be interesting to watch the shift of people towards lab diamond investment, as more and more consumers learn about the unethical practices dominating traditional diamond mining. The most significant event for the lab diamonds industry was in 2018, when the Federal Trade Commission (US) expanded its definition of diamonds to include lab diamonds. Growing credibility of lab diamonds has a direct impact on its sales. The Gemological Institute of America (GIA) predicts that the sale of lab diamonds might shoot up to $100 billion in the near future.
According to experts, increasing skepticism of retailers and trade restrictions for mined diamonds, affordability of lab diamonds, heightened consumer awareness regarding environmental impact & labor exploitation, growing disposable income, and personalization options are some of the factors driving popularity of lab diamonds in the market.
Given the growing desire for eco-friendly diamonds, lab diamond investment may be a promising decision. The ethical and environmental concerns tied to diamond mining can be reduced considerably with the help of lab grown diamonds. Lab diamonds share physical and chemical characteristics with mined diamonds, making them a more credible substitute. For conscientious individuals seeking to purchase high-quality diamonds, lab diamonds are the best option. Visit our website if you are willing to explore lab diamonds in different shapes and sizes, or gain more knowledge by putting your queries across through an online appointment with our experts today!