INSIDER INFO
FACTS diamond
#3 ARE ALL LABORATORY-GROWN DIAMONDS SUSTAINABLE?
To address the myths and misconceptions about the diamond industry, the Natural Diamond Council conducted research to better understand the questions consumers have about the industry and to provide them with straight answers. You can also read the full report here. A natural diamond is a finite mineral created by nature consisting of a crystalline form of pure carbon, the hardest naturally occurring substance and formed deep within the Earth between 1-3 billion years ago. The word “diamond” alone always means a natural diamond. A laboratory grown diamond, also called a synthetic diamond or lab created diamond, is a man-made product that mimics the physical characteristics and optical properties of a natural diamond but can be made in unlimited quantities. #1 CAN YOU DETECT A LABORATORY- GROWN DIAMOND FROM A NATURAL DIAMOND? Yes! Because they are mass-produced in weeks, laboratory-grown diamonds have specific growth-related patterns which can be easily detected using professional verification instruments. #2 HOW ARE NATURAL DIAMONDS ETHICALLY SOURCED? Under the Kimberley Process mandated by the United Nations and the World Trade Organization, all rough diamond trade is strictly regulated to ensure it is conflict-free. Other initiatives, such as the Responsible Jewellery Council, help warrant through 3rd party audited certifications that natural diamonds are sourced responsibly.
The energy-intensive process to make laboratory-grown diamonds requires the generation of temperatures close to 20% of the temperature of the Sun’s surface. With most manufacturing happening in China and India whose majority of grid electricity is generated from coal, it’s not possible to make a simplistic green claim. #4 WHAT HAVE BEEN THE PRICE TRENDS FOR LABORATORY-GROWN DIAMONDS? In 2016, a 1.5 carat laboratory-grown diamond cost $10,600 and in early 2023, it decreased to $2,445. Whilst they also fluctuated, over the last 25 years, natural diamonds have appreciated in price by approximately 3% on average each year. From 2016 to 2022, in some cases, the price of a 1.5 Carat laboratory-grown diamond has decreased by over 75%.!
58 ALBERT’S DIAMOND JEWELERS MAGAZINE
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