ARE LAB-GROWN DIAMONDS IDENTICAL TO NATURAL DIAMONDS?
No. Lab-grown diamonds are not identical to natural diamonds. Their origin is the primary difference, and the growth patterns from the artificial production process (in microwave reactors) are easily detected by jewelers with the right equipment.
WHAT’S THE DIFFERENCE IN VALUE PROPOSITION BETWEEN NATURAL AND LAB-GROWN DIAMONDS?
Natural diamonds obtain their value from their uniqueness and rarity as billion-year-old precious gems older than life itself. Lab-grown diamonds are currently sold at a slightly reduced price compared to natural diamonds, but the cost continues to decline due to mass production. Therefore, they have little to no resale value.
IS IT TRUE THAT LAB-GROWN DIAMONDS ARE MORE ECO-FRIENDLY THAN NATURAL DIAMONDS?
No. In fact, recent third-party research reveals that natural diamonds produce 3X less carbon emissions per carat than lab-grown diamonds, equal only to the carbon emissions required to produce 3 iPhones. The research also confirms that leading diamond producers recycle on average 83% of water used in diamond recovery. Conversely, manufacturing lab-grown diamonds requires an immense amount of energy to replicate a billion-year-old natural process in just a few weeks, as well as significant water consumption to cool the reactors. Whereas natural diamond producers have independent data to back up their claims, lab-grown diamond manufacturers do not, and were recently warned by the Federal Trade Commission (FTC) about unsubstantiated eco-claims.
ARE LAB-GROWN DIAMONDS UNIQUE?
Lab-grown diamonds are not unique, they are mass produced in factories, primarily in Asia in potentially unlimited quantities. Natural diamonds on the other hand are completely unique, each one is different, like a snowflake or fingerprint. Diamond recovery peaked in 2005 and supplies have been declining every year since there haven’t been any new significant diamond discoveries in the past 30 years.
DO NATURAL DIAMONDS HAVE A GREATER SOCIOECONOMIC IMPACT THAN LAB-GROWN DIAMONDS?
Yes. The natural diamond industry supports the livelihood of 10 million people globally. Leading diamond producers create $16 billion net positive socioeconomic and environmental benefits in countries in which they operate – 80% of these benefits are retained by local communities. The wealth generated by lab-grown diamond companies largely benefit only a select few venture capitalists and investors and have yet to demonstrate similar socioeconomic contributions.