Lab Grown Diamonds

While working on my GIA Diamond education back in the late 1970s, I read an article regarding “lab grown diamonds.” General Electric had managed to synthesize diamonds. At the time, they were used mostly for industrial purposes, are were not of “jewelry quality.” Now, 40 years later, new production methods have been developed. Gem quality diamonds are being produced in factories throughout the world. There is a “revolution” in the jewelry industry creating jobs, new marketing, and affecting the overall value of diamonds. Even the biggest natural diamond mining conglomerate in the industry, DeBeers, has invested heavily into a synthetic diamond line (Lightbox) themselves. 

Before we get ahead of ourselves, let's review the main difference between natural diamonds and lab grown diamonds. Yes, synthetic diamonds are diamonds! They are just grown differently. Chemically, they are formed by the same atoms. Mined diamonds were created by nature over 3 billion years ago, making them small miracles; fewer commerical mines are open year after year, as the natural supply decreases. Lab grown diamonds are readily available, with a quickly increasing supply as more companies decide to open.

You may wonder "Why would anyone want a synthetic or lab grown diamond?" It mostly boils down to price. Synthetic diamonds are now being mass produced at such a rate that the market can easily be “flooded” with them. Think of LED watches back in the 70’s, and you might understand. There is no ability to regulate the production of synthetic diamonds, as there are multiple companies producing them. As of today, lab grown diamonds cost about 60% of the price of a similar naturally mined diamond. Therefore, the ability to purchase a lab grown diamond opens higher quality jewelry ownership up to a wider audience. 

The question remains though, what will my diamond be worth in 5, 10, 50 years? Historically, natural diamonds have increased in price about 3% per year. With lab grown diamonds, we do not know the answer to that question. My belief is that the laws of supply and demand will take over, pushing lab grown diamond values to near zero. This is something to consider when determining what is right for your situation.

That is why Jae's Jewelers can offer our Lifetime Upgrade Program on all natural diamonds purchased at our store. For more information, click here. It has been our decision to only stock natural mined diamonds in our store. That being said, we do cater to lab grown diamond requests. We have made lab grown diamond engagement rings and supplied lab grown diamond stud earrings. If you are interested in this alternative to natural diamonds, we would be happy to bring in some options specifically for you. Call our text one of our jewelry associates at 305-443-7724 for personalized assistance.