News — market

Just as synthetic rubies and sapphires, the synthetic diamond market has been growing rapidly since the technology to create new, colorless varieties were introduced. As the lab-created diamonds cost about 35% less than the real diamonds, many experts fear a major decrease in demand for the real diamonds, and that’s why advanced screening devices are being used to separate the real ones from the synthetic varieties. 

What is the impact of synthetic rocks on the real diamond market? 

Although it’s unlikely that the synthetic diamonds will replace the real rocks any time soon, if the consumers are aware of what they are buying, the risks are greater due to the lower price expectations. The real diamonds may lose their luxury because of their cheaper peers. This apart, the real diamonds are also being increasingly associated with the harsh practices and inhuman measures of mining, which gives them the nickname ‘blood diamonds’. As the synthetic ones are created in the labs, they are considered more sustainable and eco-friendly among the environmentally-conscious population. The market for vintage and antique diamonds actually has not been affected since the true old cuts cannot be remade and collectors always find them valuable and desirable.

So, are natural diamonds no longer valuable?

Of course, no! The natural diamonds still are quite able to connect with the customers on an emotional level, which is lacking in the case of synthetic rocks. If a clear distinction is observed between the real diamonds and the synthetic ones, the people, who value quality above everything else, will go for the former undoubtedly. For jewelers, who deal both in natural diamonds and lab-created ones will, however, be at the most advantageous position, as they will have it all to meet specific customer needs.