A short blog about how Lab-grown diamonds are priced these days.
Introduction :
Lab-grown diamond, also known as synthetic diamonds or CVD diamonds, are becoming popular these days in the jewellery industry as a substitute for natural diamonds. These diamonds are created in a laboratory setting using advanced technology that changes the natural diamond formation process. They are in all forms chemically and physically identical to natural diamonds, but they are typically very less expensive.
Making Cost of Lab-grown diamond:
One of the main advantages of lab-grown diamonds is their making cost. They are typically 40-50% less expensive as we believed than natural diamonds of the same size and quality. This is because lab-grown diamonds do not require any of the same expensive mining and processing costs as natural diamonds.
Market forces:
One of the main reasons for the lower prices of lab-grown diamonds is they are not subject to the same market forces as natural diamonds. Natural diamonds are mined, cut, and polished, which adds to their cost. Additionally, natural diamonds are often sold at a premium due to their rarity and uniqueness. Lab-grown diamonds are created in a very exact environment, which makes them more available and significantly less expensive for people.
Size and quality of diamond:
Another factor that affects lab-grown diamond pricing is the diamond’s size and quality, which we of course know it. Just like natural diamonds, lab-grown diamonds come in various sizes and qualities. The bigger the diamond, the more expensive it will be. The same applies to the quality of the diamond, with higher-quality diamonds costing more than lower-quality ones.
Certification:
When it comes to purchasing lab-grown diamonds, it is very important to make sure you are getting your hand on a high-quality product. Another thing to consider is the certification of lab-grown diamonds. While many lab-grown diamonds are certified by reputable organizations such as the International Gemological Institute (IGI) and the Gemological Institute of America (GIA), not all are. Certification can add to the cost of lab-grown diamonds.
Real Market functioning:
When we compare with the real market pricing, the prices of lab-grown diamonds are a bit different. The diamond sieves which show the diamond are less than -2 chalni or sieve, which is used as the methods of sizing of diamonds, are on the higher pricing side when compared to star diamonds which are collectively known as +2 to -6.5 in Indian markets. The Lab-grown diamond pricing of the solitaire or the single piece of diamond for example 0.50 carat or 0.70 diamond which is certified by a recognised organisation like the International Gemmological Institute (IGI) can be received at the discounted price of 97-95% of the natural diamond in INDIA.
Conclusion:
In conclusion, lab-grown diamonds are an affordable alternative to natural diamonds. They have lower prices because of the controlled environment in which they are created and the lack of market forces that affect natural diamonds. However, the pricing of lab-grown diamonds can vary based on factors such as size, quality, and certification. It is also very important to understand lab-grown diamonds you are buying from verified dealers but buy compulsorily a certified Lab-grown diamond which should be from an authorised organisation i.e., IGI, GIA etc.