Demand for Lab grown diamonds continue to be on the rise, especially in the USA. The UK marketplace also looks resilient as customers keep asking for more of the value alternative. On the manufacturing side, prices have now matured with suppliers not lowering prices any further. It looks like a D VVS 1ct have stabilised at a retail price of between £500-600 from £1500 12-18 months back.
In the same instance, prices for natural diamonds have also fairly stabilised with manufacturers not lowering prices any further, rather reducing manufacturing and diverting production to the lab grown alternative and demand for natural diamonds growing again across the world. This now gives a clear choice for consumers seeking an engagement ring on which road to go down. The value oriented lab grown or the real deal with natural mined diamonds.
As the jewellery market continues its evolution with brands like Pandora offering lab grown diamonds increasing market share and luxury retailers like LVMH reducing market share, the concept of “Diamonds are Forever” developed by DeBeers seem like a distant memory.
Marlows have continued to offer both options to its consumers, as we believe the customer is the best person to decide which option is right for them and the market to follow. We do not currently feel smaller natural mined diamonds will ever be a holder of value in the long run hence we are gradually advocating customers to think about opting for lab grown diamonds under 0.50ct on shoulder set and halo rings even if customers opt for a natural mined central diamond which we feel will continue to hold value in the long term. In the same way, we feel lab grown diamonds can be used in accessories like earrings pendants bracelets and necklaces for everyday wear.
In the long run, mined natural diamonds will continue to play a central role in engagement rings as customers realise diamonds can always be a store of value and emotions as opposed to its lab grown counterpart with hardly any resale values or emotional connections in the long run. As they are man –made, lab grown diamonds will never increase in value due to its production reliant in a mass production facility whereas natural mined diamonds will always fluctuate in price as it’s a natural limited resource and prices will continue to be determined by market forces like supply and demand.
Is this the end of the road for lab grown diamonds – far from it, as lab grown diamonds have created a new market for diamond jewellery for consumers who always thought diamonds are way too expensive for them to purchase. Not anymore. Today, anyone can afford to gift diamond jewellery to their loved ones, creating a completely new market segment for this wonderful industry we work in.
On the ethical diamond argument, it is still true that mining diamonds can on occasions be life threatening work and the ethics do come into question, although they are all ethically mined and support entire communities and countries financially where it is most required, at least in African diamond mining countries. Customers do have to balance this with their preferred choice. Each diamond that comes into Marlows’ is sourced 100% ethically and we have stopped all our purchases of Russian mined diamonds as per UN sanctions. Some of our diamonds also come with an Origin guarantee; please ask staff for further details.
So continue to look for lab grown diamonds but don’t discard GIA certified central natural mined diamonds for your engagement ring central stone. Feel free to call us on 02074051477 or 01212364415 for honest friendly and clear advice.
Some of the most common Q&A's
With advanced equipment, a skilled jeweller or gemologist can determine whether a diamond was lab-created or mined. To the naked eye, engineered diamonds are virtually identical in appearance.
Laboratory diamonds do have value. The benefit of engineered diamonds is that they have a lower price than mined diamonds of equivalent size and quality.
One potential downside of lab-grown diamonds is that they can be less valuable in terms of resale. Depending on the energy use of the laboratory, the energy-intensive production process to grow the diamonds can impact the environment.
Yes, a lab-grown diamond is 100% a real diamond. It possesses the same physical, chemical, and optical properties as a mined diamond. The difference is that an engineered diamond is grown in a laboratory.
