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Sales of jewelry with lab-grown diamonds went up 12.5% this year; prices fell 75%! TheKnot says >50% of engagement rings are lab-grown, up from 19% in 2019. DeBeers says the widening price gap is good, “accelerating consumer awareness that they are fundamentally very different products.” Quite funny since they have same chemical, optical and physical properties as natural diamonds… they are fundamentally NOT different products! A lab-grown 1.5-carat diamond is about 80% cheaper than an equivalent quality natural diamond, and jeweler margins are high, >80% on them vs 30-40% on natural diamonds. I wonder when we’ll stop digging for diamonds… feels like that day can’t be too far in the future.
pitdesi ↗