Half of the diamonds sold by US retail jewellers are lab grown
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Date: April 28th, 2024 8:36 AM Author: at-the-ready fishy tank
Natural diamond prices are nearly 20 per cent below their level of a year ago after a run-up in 2022, and were higher a decade ago.
Behind the malaise lies the growth of lab-grown diamonds and their acceptance as a cheaper alternative to natural ones: it is common for half the diamonds sold by US retail jewellers to be lab grown. Since they have, as the US Federal Trade Commission puts it, “essentially the same optical, physical, and chemical properties as mined diamonds”, this figures.
(http://www.autoadmit.com/thread.php?thread_id=5522278&forum_id=2#47614932) |
Date: April 28th, 2024 9:23 AM Author: at-the-ready fishy tank
Lab-grown diamonds now make up around 20% of the total diamond market, Zimnisky estimates, up from nearly zero percent in 2015.
Sales of lab-grown diamond jewelry soared 51% in the 12 months leading up to November, while sales of loose lab-grown diamonds grew 47%, Tenoris data shows.
But prices for lab-grown diamonds have actually been declining since 2015, the year they first started to become mainstream. Back then, a man-made diamond was priced at around a 10% discount to a natural diamond. Today, they're priced at up to a 90% discount, Zimnisky estimates.
(http://www.autoadmit.com/thread.php?thread_id=5522278&forum_id=2#47614986) |
Date: April 28th, 2024 9:24 AM Author: at-the-ready fishy tank
"I think people kind of just bought it, and they thought, 'you're the only one with a three-carat diamond. But … if you go to a wedding these days, you're just looking at people's engagement rings, there's a lot of three-, four-, five-carat diamonds and it's become ubiquitous," Zimnisky said. "I think now you might actually start to see the opposite happen, where people are like, I just want a smaller natural diamond."
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That doesn't sound likely to me. Diamonds will probably just lose their mystique.
(http://www.autoadmit.com/thread.php?thread_id=5522278&forum_id=2#47614987) |
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