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That diamond ring your newly engaged buddy is exhibiting off? It will not be a conventional diamond.
Greater than a 3rd of all engagement rings with middle stones bought final yr had been created in a lab, in line with an internet survey of almost 12,000 U.S. {couples} by wedding-planning web site The Knot. That’s double the quantity from 2020.
A pure diamond takes billions of years to kind deep inside the earth. The diamond trade, it appears, evolves virtually as slowly. However a serious shift appears to be below approach.
Because the expertise to make lab-grown diamonds has improved, manufacturing has elevated and retail costs are falling. Their rising recognition, particularly amongst youthful customers, has caught the eye of jewelers and watchmakers — and is difficult conventional diamonds which are mined from the earth.
It’s not simply engagement rings. Diamonds grown in a lab accounted for 13.6% of the $88.6 billion in diamond jewellery bought globally in 2022, up from lower than 1% in 2015 the place they’d hovered because the early 2000s, in line with Paul Zimnisky, a diamond trade analyst.
Right here is more from the WSJ, and the article is fascinating all through. Right here is my 2004 post on diamonds. Didn’t Alex as soon as have an extended publish on this as effectively? (I can’t discover it within the MR search perform.)
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