Please, do yourself a favor and don’t buy a Lab-Grown Diamond…
Obviously, I have some bias in the above statement. We at Lester Lampert are committed to only carrying Natural Mined Diamonds. The value and lure of a diamond has to do with its unique connection to Mother Nature. Born millions of years ago deep in the earth’s crust, Natural Diamonds are among the oldest treasures we as humans get to enjoy. The average Mined Diamond you can hold in your hand is older than most of the stars in the sky.
But that’s just the beginning. Natural Diamonds are rare, there is a finite supply. This is what ultimately gives a diamond value. Rarity + Desirability + Quality = Value. People clearly value diamonds; this is why man-made diamonds even exist. They can and will make more diamonds in the lab than there will be demand for, which will lead to a decrease in price. Right now, Lab-Grown diamonds are selling at prices based on their natural counterpart, and this will eventually give way to actual supply/demand. We are at the early stages of Lab-Grown in the market and most people haven’t figured this out yet. No matter what you pay for a Lab-Grown today, it will be worth less as time goes on.
Natural Diamonds have proven themselves to be market resilient and have increased in value over time. Ironically, the introduction of these man-made diamonds will only create market conditions where Natural Diamonds become rarer and more valuable. Diamonds have many uses in industry (electronics, medicine, engraving, etc.). The Lab version will eliminate the need for new mines, so we are seeing the last of deep earth diamond mining.
Lab-Grown diamonds aren’t so friendly
There’s a lot of talk about how Lab-Grown diamonds are eco-friendly but in reality, this is false. These diamonds are made in a laboratory requiring a tremendous amount of energy and carbon emissions. While DeBeers may not have the most eco-friendly record from the past, their conservation efforts today are exemplary. DeBeers goes out of its way to help indigenous people by creating jobs and building schools all while protecting native lands anywhere it mines. Furthermore, scientists have discovered a way to use the kimberlite (the rock in which diamonds are found) to absorb carbon. Using this new technology, DeBeers expects diamond mining to be carbon neutral by 2030.
Diamond mining today is both eco-friendly and ethical. The Natural Diamond industry established a multilateral certification system in 2003 to guarantee that diamonds are “conflict free”. Today 99.8% of all Natural Diamonds go through this process. On the flip side, Lab-Grown diamonds come from factories. More than half of those factories are in China.
Special merits something special
Ask yourself why you’re buying a Diamond in the first place. Typically, Diamonds have been used to mark an event or a special occasion (like a marriage proposal, a special birthday, the birth of a child, etc.). We as humans are inexplicably tied to Nature, as such, we like to mark important events with a product that reflects connection to our creation. There is nothing better than a Natural Diamond when it comes to a commemorating an important life event. When you give somebody a Natural Diamond you are telling them you love them with an eternal love. This is why we propose with a Natural Diamond and not a purse or a car! When we hand down our Natural Diamond to a family member after our passing, we are giving them something from the earth itself as a way to remember we too are from this world. The connection is undeniable. A man-made, Lab-Created diamond can never demonstrate this connection
Lester Lampert Jewelers has worked tirelessly over the last 100+ years to build a legacy that we are very proud of and we will continue to only offer our clients the finest in Natural Diamonds, Gemstone and Craftsmanship options. We welcome you to visit our showroom to view our creations and meet our team.