Some jewelers will happily offer lab created diamond while other jewelers refuse to deal with them at all.
But people want lab diamonds. The main reason I’ve seen is simply because you get more diamond for your dollar.
It’s now been over 140 years since the first recorded attempts were made to synthesize diamond.1 Eventually several methods were devised that were successful, though not commercially viable. In the last few years the technology has advanced to a degree that diamonds can be created at a rate, size and quality that can satisfy the public demand.
In May 2019, James Allen announced that they would start offering lab created diamonds.2
It’s quite clear that lab created diamonds are here to stay. It may seem like it took a while for jewelers to start offering lab created diamonds, it actually happened ten times faster than it did for synthetic rubies or synthetic emeralds. Created emeralds were available for half a century before jewelers really embraced the idea of offering them. And created rubies took several decades too before they became a staple part of jewelers’ inventory.
Created stones are here to stay and present a cost effective alternative when the natural stone is prohibitively expensive. Natural stones will still retain their appeal and the price difference will only help reinforce natural stones’ special status as a unique store of value.
One of the arguments against lab created diamonds is that they have little to no resale value. This was true in the past. However the strong demand for lab created diamonds has resulted in the emergence of secondary market for created diamonds. As with natural diamonds the nicer the stone, the easier it is to resell. And of course if you over pay for a stone when you buy, well, you won’t be too happy with what you’re offered for it once you start looking for a buyer.
For this reason it’s important to choose carefully when buying a lab created diamond. Not only because you want the best value for your money, but you want to know that it would be nice enough to at least retain some value in case it needs to be sold at some point in the future.
While I can’t say for certain that natural diamonds will always retain more value than lab created diamonds, as the incidental costs can vary for both, it seems logical to me that they should.
Even so, lab diamonds are a great way of adding to one’s jewelry collection. Many people who feel that an earth diamond is the only way to go for an engagement ring will still consider a pair of lab diamond studs or a lab diamond bracelet.
Apart from lab diamonds being much more affordable than their mined counterparts, lab diamonds also come in a variety of colors. Ok, so do mined diamonds, but colored diamonds are rare there is so little variety to choose from that you are extremely limited in your choices. With lab diamonds you have a few more options when it comes to fancy colors.
If lab diamonds interest you for the environmental factor then look no further than these online jewelers that offer diamonds grown using renewable energy:
Vrai by Diamond Foundry has Carbon Neutral Certification with all their diamonds grown in the USA.
Blue Nile is also offering diamonds grown in the USA by a process that uses mostly hydroelectric power to power its operations.3
So, to answer the question we started out with: Is Buying A Lab Grown Diamond A Good Idea? Like with so many things in life, it depends. Yes you can save money, and yes you can minimize your carbon footprint by buying lab grown diamonds. However not all lab diamonds are equal in that regard. Stick with companies that at least have a credible claim in regards to their carbon footprint. Here I have recommended a couple which should at least get you started on your journey to finding the diamond that is perfect just for you.
If you do need help with navigating the at-times-confusing world of diamonds please don’t hesitate to use my free diamond concierge service. I’ll get back to you with a suggestion or two for you to have a look at.
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As an affiliate of the some of the world’s finest jewelers I am motivated to find the right purchase that is perfect just for you. Every person has specific needs and every jeweler has specific areas in which they excel.
Thomas J Stevens GIA DG CSG