Lab Grown Diamonds Australia

Lab Grown Diamonds have been flying under the radar for quite some time, but this has changed in recent years for a number of different reasons.

Major Diamond traders have been reluctant to acknowledge the Lab Grown counterpart to protect their natural Diamond investment and the market. There has been no active marketing or education on the benefits or even the differences between the two. Even to the detriment of young couples looking for a better price point. We know Diamond alternatives are on the rise, we even have recent confirmations from the Diamond powerhouse De Beers reporting a lull in sales in recent years. They reported a 39% decrease in sales in 2019 compared with 2018.

Recent surveys of young couples in 2019 showed that approx. 18% of couples chose to purchase a Diamond alternative. This is a jump compared to the 13% the year before in 2018.

Lab Grown Diamonds have come a long way in recent years due to better manufacturing and cutting technologies. They are essentially Diamonds. They are formed the same way…under intense pressure consisting of the same carbon atoms and are engineered in the same characteristic diamond crystal structure. So with a little short cut of about a billion years or so we can achieve the exact same look and feel as the natural Diamond. They are a 10 on the Moh’s scale of hardness – the same as a natural Diamond and they also have the same dispersion of light meaning they exhibit the same sparkle and shine.

With more and more couples worldwide comparing and choosing the Lab Grown option its no wonder they are continuing to increase in popularity year on year. Australia for example where we are so reliant on the performance of the US Dollar are seeing major increases in the purchase of Diamond alternatives, especially during uncertain times where Gold prices rise and the Australian Dollar under performs. This is when most young couples feel the pinch and look more closely at bang for their buck.

Lab Grown Diamonds Australia is a relatively active market and very much on the rise. The main reason and probably most important is the price tag. Lab Created Diamonds are significantly less expensive than the same size, colour and clarity in a natural Diamond. When buyers are adding up the cost for usually the third most expensive purchase of their lives behind the house and car, it’s no wonder that the price is a huge draw card. Comparing one of the most popular choice for an Engagement Ring…the Round Brilliant, we see prices for a GIA certified G colour and SI1 Clarity in an Excellent cut natural Diamond exceeding $8000 Australian dollars. The same in a Lab Created Diamond is $4000. With a saving of 50% its an easy choice for most who still want the brilliance of a Diamond yet want to save money to put towards the house or honeymoon.

In a time where technological advances have made a huge impact on not only the production of these Diamonds but also the cutting techniques, there’s no wonder the sales are starting to reflect the trend.