What is the difference between a lab-grown diamond and a natural diamond? Part 1
Lab-grown diamonds are the new craze in the gemstone market. Marketed as the better alternative to natural diamonds, lab-grown diamonds are attracting the eco, financially, and socially conscious millennials. While a lab-grown diamond does possess some of these traits, they are oversold as the new diamond replacement.
Natural diamonds are more expensive than lab-grown diamonds, that is an honest truth. Natural diamonds come from the earth and go through a long process to become the beautiful rock that you wear out. This journey, from mined earth to faceted gemstone, adds to the cost you as a consumer end up paying. On the other hand, a lab-grown diamond is produced on a large scale in a facility. Lab-grown diamonds do not have the rarity and they do not go through the same meticulous process that natural diamonds do. Lab-grown diamonds are massed produced, which, while giving you a lower price tag, also makes them lack value. Similar to purchasing a car, as soon as you “drive off the lot,” your diamond loses a great deal of its value.
Now with a natural diamond, you do pay more than what the resale value is worth but in the situation that the relationship doesn’t work out or that you want to upgrade your existing diamond, you will be able to get value for your diamond. In the same situation, if you had a lab-grown diamond, the diamond would have virtually zero value because the massive supply makes them so easily replaceable. Some jewelry stores do not even purchase lab-grown diamonds from customers.
Overall, while you might save money on the initial purchase of a lab-grown diamond, it has no value later on. In the end, you as the customer need to love the diamond you pick. Whether that is lab-grown or natural, I believe that you should be properly informed and understand all that goes into this big purchase.