According to market reports, lab-grown diamond market for jewelry which was estimated at around 2 million carats in 2020 will grow to over 15 million carats by 2035. The steady rise in popularity of lab grown diamonds has been unbelievable. One, primary reason being the millennials who are regarded as smart shoppers who seek value and complete knowledge of their buys. In 2020, MVI Marketing survey revealed that 80% of millennials are considering lab-grown diamonds for engagement rings.
An important thing about lab grown diamonds is that they come with diamond grading reports from same gemological labs – such as IGI, GIA, AGS, GCAL among others – which assure the customer of the 4Cs of their diamond. It is hard to find any ‘visual’ difference between lab-grown and natural diamonds. Both have the same fire, sparkle, and scintillation. But lab-created diamond allows customers to save up to 30-40% on diamonds. These diamonds are not only popular amongst the young Americans but have been patronized by celebrities like Meghan Markle, Penelope Cruz, Nikki Reed, Bindi Irwin, Lady Gaga among others on several ‘red carpet’ occasions.
What Are Lab-Grown Diamonds Exactly?
It was General Electric who successfully created diamonds in 1955. At first, these lab-made stones were very small and the process too complex and costly to be a commercial success. But in the last decade, lab grown diamond technology has improved and scientists now better understand the process to culture diamonds in laboratories. The primary difference between lab-grown diamonds and mined diamonds lies in the process of bringing them to life. What would have taken years to form and be then extracted, takes 4-6 weeks to come to life above the earth. Minus the extraction!
Lab-grown diamonds have the same optical, physical, and chemical properties as their mined counterparts.
Originating from a single carbon seed, the lab grown diamonds offer the same stellar fire to a ring, a pendant or a pair of earrings that a mined diamond does. The carbon seed (which is a thin slice of diamond or pure Carbon) is placed inside a vacuum chamber which is then fed with CH4 or methane gas. The temperature inside the chamber is maintained in the range 600 to 1100°C and that’s when C or carbon separates from methane gas and begins to deposit layer by layer on the carbon seed. At the end of the 4-8 weeks, a rough lab grown diamond is formed inside the chamber which is then cut and polished exactly like a diamond. Indeed, it is nothing short of magic happening above the earth’s surface, one that doesn’t disturb nature’s equilibrium.
We are still talking about pure pressured carbon in its most beautiful form. We are still talking about a woman’s best friend — a diamond grown in laboratories – the latest in technological advancement that has allowed man to harness sophisticated technology to recreate 100% diamond above the ground. Lab-made diamonds have the same thermal and electrical conductivity as mined diamonds. So, they will pass a diamond tester exam.
FTC’s Revised It’s Guides To Address ‘Lab Grown Diamonds’
Lab grown diamonds – despite their growing popularity – are routinely misrepresented and misunderstood by retailers and customers. One of the common misrepresentations is calling lab-grown diamonds ‘fake’ or ‘faux’ or ‘imitation’ stones. This completely erodes decades worth of technological innovation invested in successfully growing diamonds above the ground (without digging into the depths of the earth!)
“The Commission no longer defines a ‘diamond’ by using the term ‘natural’ because it is no longer accurate to define diamonds as ‘natural’ when it is now possible to create products that have essentially the same optical, physical, and chemical properties as mined diamonds,” the FTC ruled.
The FTC’s acknowledgment of “misrepresentation” due to descriptors like ‘synthetic’ and its subsequent amendment of its Jewelry Guides in 2018 was a huge win for the man-made diamond industry. In simple words, customers now have the option to choose a diamond grown in a lab or a diamond dug up from the earth.
Certification of mined and lab-grown diamonds is an important differentiating factor that puts these diamond types separate from rest of the ‘look-alike’ stones or crystals. A diamond grading report, as name suggests, is given to a diamond and there are a handful of independent gemological labs that issue these certificates or grading reports. Today, all responsible lab created diamond companies ensure that their customers are aware of the facts about lab-grown diamonds so that they make a well-informed decision about purchasing one.
The LovBe Edge
Millennials have come to be the ‘super supporters’ of lab grown diamonds and LovBe is proud to be a name that’s able to provide its customers a ‘LovBe diamond’ which they can happily show-off. LovBe’s lab diamonds come with the promise of value, quality and unmatched brilliance. LovBe has consciously chosen to uphold strict quality standards – rejecting almost 8 out of every 10 lab grown diamonds. We handpick the perfect cuts, color and clarity in our lab grown diamonds. We quality control the selection process so that the best comes to our customers. We are happy to upgrade our lab grown diamonds under our Lifetime Diamond Upgrade program. This program allows LovBe customers to be assured that when time comes for them to go up in carat or choose a different 4C for their diamond to mark a relationship milestone, LovBe will happily take back their old LovBe diamond and offer a lab grown diamond of their choice (factoring in the retail price paid for their LovBe). For more details on our program, click here.