Springfield jewelers report a rise in synthetic diamond sales
SPRINGFIELD, Mo. (KY3) - Jewelry store owners say they see many young couples choosing synthetic gems over natural stones.
Chemically they are exactly the same. Both are made from carbon. One took millions of years to develop in the Earth. The other took just a few months to develop in a lab. To the untrained eye, the only real difference is price. A synthetic diamond of the same cut and carat weight costs 40-60% less than a natural diamond.
“Natural Stones, because they’re made, you know, by Earth, it takes millions of years,” said Luisa Smith, Owner of Cornerstone Fine Jewelry. “They’re just more expensive. Lab-growns are easy to create in a lab. We’re seeing a lot less time in between pieces being created, which just means we can make more of them to put into the market.”
Many young couples believe that since there is virtually no difference between the two types of stones, they can put the thousands they are saving toward something else.
“COVID impacted a lot,” said Smith. “It shifted how we think of finances. A lot of it is just that price point. They’re wanting to save a little bit on the dream ring while still getting their dream ring and putting a little bit more towards a new home, a vacation, their wedding, a honeymoon, and I’m all for it. I love that because if you can have your cake and eat it too, why not?”
The downside to buying a synthetic diamond is that as the market becomes flooded with these stones, they will lose their value.
“As the market does get flooded, it does bring the value of lab-grown down,” said Smith, So our naturals will still retain their value. Lab-grown is constantly fluctuating.
Lab-created stones are nothing new. People have been purchasing them for more than 100 years. Ultimately buying a diamond is an emotional investment more than a financial one.
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