Price, Market Value, Sustainability; All You Need to Know

Must Read

In the world of natural diamonds, entering your jewel box is the Laboratory Grown Diamond Jewelry. With its presence in the jewelry industry already making waves, Halfdaynews explores the world of diamonds grown in the laboratory and how it can be your best friend.

A diamond, a gemstone that defines love when placed on a ring and royalty when placed on a crown, is one of the most sought after gems in the world. According to the International Gemological Institute (IGI), laboratory-grown diamonds have the same physical, chemical, and optical properties as natural diamonds. The only difference is that natural diamonds take billions of years to form inside the Earth, while laboratory-grown diamonds take from a few days to a few weeks to form.

IGI has had the skills of grading natural diamonds for the last four decades and uses the same skills for grading diamonds grown in labs. “IGI is the first gemological laboratory in the world to achieve ISO accreditation in both natural and laboratory grown diamond grading. We feel the growing need in the market and believe that the end consumer deserves the opportunity to make informed choices when choosing a diamond. The certification of natural as well as laboratory grown diamonds ensures that consumers have the freedom to choose. Lab-grown diamonds are classified and certified on the same criteria as natural diamonds based on color, clarity, size / weight and how they reflect the cut and diamond light, ”says Tehmasp Printer, MD and President, IGI India.

Also Read  Saudi man charged after Maserati driven down Rome's Spanish Steps

So, are lab-grown diamonds 100% real? “Lab-grown diamonds are 100% real and pure diamonds. Natural diamonds are no different because they are 100% carbon and have the same optical, thermal, physical and chemical composition, ”says Pooja Seth, MD and founder of Limelight Lab Grown Diamond Ltd., which offers sustainable luxury brands. . Lab grown CVD diamond embedded jewelry.

Hrithik Buchara, director of Sangeeta Buchara, says laboratory-grown diamonds are the future because we may eventually run out of organic alternatives.

A sustainable choice

Music Butcher Jewelry is all about durability and being environmentally friendly, so the brand strives to get the raw material through ethical means. “When lab-grown diamonds came on the market – we felt they met most of our brand’s needs and most importantly we were giving something back to society under our corporate social responsibility,” says actor Butcher, co-founder, Sangeeta Butcher.

As a durable and eco-friendly gem, lab-grown diamonds are champions of nature. “1 carat of diamonds grown in a lab can save 109 gallons of water and 250 tons of soil extract,” says Pooja Seth.

Cost effective

Because they are not mined and do not incur mining costs, lab-grown diamonds are at least 50% cheaper than natural diamonds. “The cost effectiveness of lab-grown diamonds does not mean that laboratory-grown diamonds are inferior in quality. In fact, laboratory-grown CVD diamonds are superior in quality to most natural diamonds because they are the purest type IIa diamonds that have better luster and luster – something found only in 2% natural diamonds, “says Pooja, whose brand is Limelight. Offers 80% buyback on all its jewelery and 100% lifetime guarantee of exchange.

Actress Rashmi Desai shows rings from the Cindiora Collection such as Tiara and One at a Time in a set of 7 lab-grown diamonds with 14kt white gold and Love Infinity with a set of 5 lab-grown diamonds in 14kt yellow gold.

A designer paradise

For the homegrown brand Cindiora, which designs handcrafted lab-grown diamond jewelry, their designs celebrate gems in a variety of styles. “We have created a series of collections for different occasions. You will fall in love with its eternal beauty, durable qualities and low maintenance. Also, the whole collection is designed to mix and match, so you can create hundreds of different looks. Every design made in laboratory grown diamonds will make you feel like a royalty and sustainable choice will be a gift from Mother Earth. “Says Ankita Gupta, founder, Cindiora. And from pendants to customized engagement rings and wedding jewelry, there’s something for everyone who wants laboratory-made diamond jewelry.

Calling it a genius invention, Vandana M Jagwani, founder, Vandals, says, “I was fascinated by the diamond products grown in the lab because the final product is similar to natural diamond jewelry. Laboratory-grown diamonds are a genius invention, a new creation with a better price. In terms of demand, it has really picked up and this year we are going to see an even bigger jump. Europe and America are definitely booming in laboratory-grown diamonds and multiple stores are already opening in India throughout the year.

Demand and supply

With the awareness about lab-grown diamonds spread across the country, laboratory-grown diamonds are a truly luxurious creation that has attracted the attention of millennials who are mostly in the ‘knowledgeable buyers’ category. “We are witnessing a high demand in this category, especially for the Valentine’s Day corner and the diamond ring which is considered to be the ultimate symbol of love. It has been observed that the millennial buyer is in search of progressive technology along with traditional charms and laboratory-grown diamond ornaments where this discovery ends, ”says Tehmasp Printer, MD and President, IGI India.

A sparkle of brilliance diamond bracelet by Limelight adorned with an exquisite range of CVD diamonds grown in the laboratory is a space wish that comes true

According to Pooja Seth, consumers are now more educated about these non-molded diamonds and how they are grown in the lab but remain 100% real. “The unique and independent personality of laboratory-grown diamonds as a highly affordable gem despite being durable and environmentally friendly is well-received by millennial consumers and is increasingly reflected in sales of lab-grown diamond-encrusted jewelery across India. We’ve seen this result in a 60% increase in revenue each year and tremendous sales with excellent response in all our partner stores across India, ”says Seth.

Market price

When it comes to jewelery shopping, the value of money and its market value are two important aspects to consider. Jeevan Patwa, founder, AVANT, a diamond manufacturer that cuts and sells lab-grown diamonds globally to jewelry retailers, factories and diamond dealers, states:

  • Laboratory-grown diamonds are sold at a 60-80 percent discount compared to today’s Spec Mind diamonds.
  • As the market for laboratory-grown diamonds is established, it will be resold at current market prices, as in the case of mined diamonds. For example, if you buy a mined diamond today and if you go to sell it after two years and if the market price goes down, the retailer will buy at the current market price. Similarly, the retailer will also offer buy back at current market prices for the grown lab.

It has been observed that the millennial buyer is in search of a progressive technique along with traditional charms and laboratory-grown diamond charms where this discovery ends. Image: Shutterstock

Is India ready to replace natural diamonds?

They say that a diamond is a girl’s best friend, so can a laboratory-grown diamond replace a natural diamond? Ami Gokani, director, Kama Schocher insists that although laboratory-grown diamonds are cheaper than real diamonds, it is a personal choice when one buys natural or laboratory-grown diamonds. “I personally come from the real diamond world and agree that diamonds are a girl’s best friend. What is rare about a piece of jewelry is not just the diamond, but the set of designs, craftsmanship and skill with which it is made. Laboratory diamonds or man-made diamonds do not replace real diamonds, “says Amy.

Xian believes that laboratory-grown diamonds make diamonds affordable and accessible to a large population who have never purchased diamonds before. However, he feels that there is resistance in the traditional jewelry retail format. “They are not ready to sell laboratory-grown diamond jewelery yet, perhaps for fear of their business becoming cannibalistic. In the future, new entrants will either have their business disrupted or they will have to listen to the customer’s wishes and sell laboratory-grown diamond jewelry, ”adds Jian Patwa.

Also Read  Masks and flying: Everything you need to know about new US rules
Latest News

The restaurant where real Italian mothers rule the kitchen

Editor's note - Forget what you know about British food. This Sunday at 9pm ET "Searching for Italy,"...

More Articles Like This