This article aims to address some of the common misconceptions surrounding laboratory-grown diamonds. It shares the latest data from globally respected analysts and researchers on terminology, disclosure, sustainability claims and pricing. By examining laboratory-grown diamonds from all angles, the aim of this article is to give our clients a complete and accurate picture of the two different product categories, helping our clients make confident choices.
Synthetic diamonds were first manufactured some 70 years ago, and the first synthetic jewellery-quality stones appeared on the market in the 1970s.
Laboratory-grown diamonds are manufactured products that have the same crystal structure as natural diamonds and have nearly the same chemical, physical and optical properties when polished.
They are not identical to natural diamonds and are always distinguishable with professional equipment.
More than 70% of laboratory-grown diamonds are mass-produced in factories in China and India.
Scientists spent decades engineering synthetic alternatives to replicate the hardness, optical properties, and thermal conductivity of natural diamonds in a more scalable and affordable way, so they can be used for industrial and technological applications.
There are two main processes used to create laboratory-grown diamonds: High-pressure, High-temperature (HPHT) and Chemical Vapour Deposition (CVD) methods. The production method used does not affect the look or cost of the polished product.
Both methods require a tiny diamond crystal, called a ‘seed’, to serve as a base upon which the stone can be grown and a blueprint for its crystal structure. The seed can be natural, but is commonly grown in a laboratory.
The size of a laboratory-grown diamond depends on the time allowed for growth.
Manufacturing laboratory-grown diamonds requires large amounts of energy in order to sustain for days/weeks temperatures upwards of around 1093 degrees Celsius and large amounts of water to cool reactors. In China and India, most grid electricity is generated from fossil fuels (coal). Only a few laboratory-grown diamonds are produced using renewable energy.
Three terms can be used in the marketing of laboratory-grown diamonds;
“Laboratory-grown diamonds”
“Laboratory-created diamonds” and
“Synthetic diamonds”*
*Can vary according to national regulations
Prices for laboratory-grown diamonds have dropped significantly. Data supplied by analysts Edahn Golan on wholesale prices and Paul Zimnisky on retail prices shows that the wholesale price for a 1ct round near colourless (FGH) high-clarity (VS1) laboratory-grown diamond is now just 5% of what it was seven years ago in 2018 (i.e. it has fallen by 95%), while the retail price is 24% of what it was in 2018 (a fall of 76%).
The actual price for laboratory-grown diamonds depends on their size and manufacturer. However, the key factors that influence the general lower price trend are falling production costs and the change in pricing structures.
Retailers can obtain specific grading reports or certifications from independent organisations that verify the quality of natural and synthetic diamonds.
The Gemological Institute of America (GIA), IGI and GSI provide specifications and reports for laboratory-grown diamonds. These reports clearly state that the stone being graded is a laboratory-grown diamond and not natural.
GIA has recently announced that the institute will no longer apply the 4Cs terminology for colour and clarity as used to describe the characteristics of natural diamonds. This will ensure a clearer representation of the manufacturing specifications of laboratory-grown diamonds.
It is also important to be aware of self-certified grading reports that are not independently verified and may not clearly disclose the type of stone or that may make other claims about quality.
“Knowledge is power”, and accurate information allows us all as consumers to make considered decisions about what we purchase and why. Even more so when it comes to an engagement ring, where the spend can be significant and the occasion exceptionally meaningful. It’s helpful to weigh the pros and cons of laboratory-grown diamonds vs natural diamonds in relation to your budget, values and future expectations.
Article credit: Natural Diamond Council, Professional Jeweller and GIA,
