Posted on Monday, April 20th, 2020 at 9:04 am by Josh
Have you heard about lab-grown diamonds? There has been a lot of buzz surrounding them for the past few years. Maybe you’ve heard about them and you’re wondering if buying a lab-created diamond is the right choice for you.
At Koser Jewelers, we have made an intentional decision not to sell lab-grown diamonds in our store because we firmly believe that they are not a good alternative to natural diamonds.
Here are three big reasons why we have steered clear of lab-grown diamonds, and why we think you should too.
Lab-Grown Diamonds are a Bad Financial Decision
When you buy a natural diamond, you are purchasing something that will retain value over time. That’s not so with lab-grown diamonds.
Just as the name implies, lab-grown diamonds are manmade diamonds that are created in a laboratory or factory. The technology is new, fancy, and expensive.
But think about it: Historically, all new technology starts out being expensive, and then becomes more streamlined and then gets very inexpensive. That means that, in the future, lab-grown diamonds might be cheap -- which means the value of ones purchased today will also plummet.
Plus, lab-grown diamonds are not finite like their natural counterparts, so there is no guarantee that they will hold any value in the future because their supply will always be high.
So, let’s look at an example. Say you pay $5,000 for 1-carat lab-grown diamond today instead of $7,000 for natural one. Sure, you might save some money today by purchasing a lab-grown diamond, but it may be worth next-to-nothing in the future.
Contrastly, when you purchase a natural diamond, it retains its value forever. At Koser, we allow you to trade your diamonds in on future diamond purchases for the same price you paid… for a lifetime!
However, we cannot accept trades on lab-grown diamonds. The future value of lab-grown diamonds is simply not reliable. They are not a product we can stand behind, so we choose not to sell them. We are more interested in creating lasting relationships than turning quick profits.
Lab Created Diamonds Lack the Allure of Natural Diamonds
Another big reason to think twice before purchasing a lab-grown diamond for your proposal: many women just don’t want them. Think knock-off Louis Vuitton vs. the real thing!
Nationwide surveys show that the vast majority of women still want natural diamonds. In a 2018 survey by the Diamond Producers Association (DPA) and The Harris Poll, only 16 percent of women claimed that they believed lab-grown diamonds were “real” diamonds.
This is another reason we choose not to carry lab-grown diamonds in our store. Surveys (and our personal interactions with guests) have shown us that manmade products are simply not what people want.
The allure of diamonds has always been that they are an amazing, natural product of the earth that took millions of years to form. That appeal is lost when they are mass-produced in a laboratory, or worse -- a factory.
Lab Made Diamonds are Not the Eco-Friendly Choice
The final reason to rethink lab-grown diamonds is that they aren’t as good for the environment as they are made out to be.
The biggest rationale many people have for choosing manmade diamonds is that they believe they are better for the environment. But there is little evidence to back up this claim. In fact, the opposite might be true.
Lab-grown diamonds require a tremendous amount of energy to create. They are mostly produced in factories by machines that require constant power. While there is a substantial range of energy usage between different factories, there is nothing that suggests that manmade diamonds are an environmentally-friendly choice.
The Federal Trade Commission (FTC) says lab-grown diamond companies’ claims of eco-friendliness are “difficult to substantiate.” The FTC has also issued several warnings in the past year to jewelry brands claiming that lab-grown alternatives are sustainable.
Furthermore, many have questioned the lack of transparency in the lab-grown diamond sector. A 2019 Forbes article on the industry said:
“Many laboratories are using potentially harmful gases such as methane to extract carbon, with little transparency about how this is sourced and managed, and the process itself is highly energy-intensive, requiring giant ‘ovens’ to run at around 2000 degrees Fahrenheit.”
While it may not be apparent which has the lower environmental impact -- mining or lab-creating -- it certainly isn’t true that lab-grown is necessarily the more “sustainable” choice.
Choose a Jeweler Who Knows the Value of a Real, Natural Diamond
At Koser Jewelers, our first priority is taking good care of our customers. We pride ourselves on always doing what’s best for YOU.
As outlined, we do not believe that lab-grown diamonds are a good financial choice. We also think they lack the romance and allure of natural diamonds while not necessarily providing any environmental benefits.
We wouldn’t feel good about selling you lab-grown diamonds, so we won’t do it. Plain and simple.
If you’re interested in seeing our fantastic selection of beautiful, natural diamonds, stop in soon! You can also shop 24 hours a day on our website, KoserJewelers.com.
*If you are looking to purchase a diamond during the pandemic, schedule a video consult HERE with one of our jewelry experts today — we would love to help!
Contribution by Mandy Youtz