{"id":740,"date":"2024-02-19T10:55:32","date_gmt":"2024-02-19T15:55:32","guid":{"rendered":"https:\/\/www.ndrdiamond.com\/blog\/?p=740"},"modified":"2024-02-19T10:55:43","modified_gmt":"2024-02-19T15:55:43","slug":"the-lab-grown-diamond-boom-is-over-a-repost","status":"publish","type":"post","link":"https:\/\/www.ndrdiamond.com\/blog\/the-lab-grown-diamond-boom-is-over-a-repost\/","title":{"rendered":"“The lab-grown diamond boom is over “- A Repost"},"content":{"rendered":"\n
* The lab-grown diamond boom is over, jewelry industry experts say.\u00a0<\/strong><\/h5>\n\n\n\n
* Lab-grown gems are mainstream now and real diamonds are back in vogue, analysts told Business insider.<\/strong><\/h5>\n\n\n\n
* Prices for lab-grown diamonds are likely to tumble amid a glut of supply.<\/strong>\u00a0<\/h5>\n\n\n\n

The man-made diamond boom is over, and prices for\u00a0ultra-trendy lab-grown diamonds\u00a0<\/a>are set to tumble this year, industry veterans say.<\/p>\n\n\n\n

Paul Zimnisky, a leading diamond analyst, foresees jewelers scaling back their business in lab-grown diamonds while ramping up their focus on natural diamonds over the next year. In fact, most jewelers aren’t even bothering to stock lab-grown diamonds in inventory, and are only purchasing them on consignment, he told Business Insider. <\/p>\n\n\n\n

It’s the exact opposite of what jewelers have been doing since 2018, when the hype for\u00a0lab-grown diamonds\u00a0took off.\u00a0<\/p>\n\n\n\n

“Some of the fad is starting to fade a bit,” Zimnisky said, pointing to lower-priced retailers like Walmart and Pandora, who have started to “aggressively” push lab-grown stones. “I think it’s become a lot more mainstream.”<\/p>\n\n\n\n

Prices for lab-grown diamonds will continue to fall over the next year, he said. Ziminsky didn’t have a price target, but said he believed loose lab-grown diamonds could see nearly the same price decline as they did in 2023, which the jewelry analytics firm Tenoris estimated to be about 20% in the 12 months leading up to November. <\/p>\n\n\n\n

Cormac Kinney, the CEO of the commodities trading firm Diamond Standard, believes the plunge could be even steeper as the hype over lab-grown gems fades. Man-made diamond prices could ultimately drop another 50%-80%, he estimated. <\/p>\n\n\n\n

“Fashion jewelry is always worth a small fraction of real jewelry,” Kinney said. “Only real is rare.”<\/p>\n\n\n\n

Man-made fad<\/h3>\n\n\n\n

It’s not hard to imagine why man-made diamonds were so popular last year. Even A-list celebrities like\u00a0Emma Watson and Meghan Markle\u00a0have been known to buy lab-grown jewelry \u2014 they’re cheaper and basically identical to the naked eye.\u00a0<\/p>\n\n\n\n

“It was basically a manufactured version of one of humans’ most valuable and natural resources,” Zimnisky said of lab-grown stones. “It basically allowed consumers to buy a diamond at really affordable prices that allowed consumers to buy very large diamonds that would cost hundreds of thousands of dollars if they were natural diamonds.”<\/p>\n\n\n\n

But some of the shine behind lab-grown gems has diminished, largely because they’re so widely available. Lab-grown diamonds now make up around 20% of the total diamond market, Zimnisky estimates, up from nearly zero percent in 2015. <\/p>\n\n\n\n

Sales of lab-grown diamond jewelry soared 51% in the 12 months leading up to November, while sales of loose lab-grown diamonds grew 47%,\u00a0Tenoris\u00a0data shows.<\/p>\n\n\n\n

But prices for lab-grown diamonds have actually been declining since 2015, the year they first started to become mainstream. Back then, a man-made diamond was priced at around a 10% discount to a natural diamond. Today, they’re priced at a 90% discount, Zimnisky estimates.<\/p>\n\n\n\n

“I think people kind of just bought it, and they thought, ‘you’re the only one with a three-carat diamond. But \u2026 if you go to a wedding these days, you’re just looking at people’s engagement rings, there’s a lot of three-, four-, five-carat diamonds and it’s become ubiquitous,” Zimnisky said. “I think now you might actually start to see the opposite happen, where people are like, I just want a smaller natural diamond.”<\/p>\n\n\n\n

“A synthetic diamond is not the same as a natural diamond,” Kinney added. “Any gem lab can tell the difference, and your friends probably can too \u2014 especially if the diamond does not match your economic status.”<\/p>\n\n\n\n

That doesn’t mean demand for lab-grown stones will disappear, and the gems\u00a0will surely still hold appeal for some buyers, but sales will likely grow at a slower pace. Zimnisky estimates that sales growth could fall as low as a single-digit percentage this year, down from the 20%-30% growth when lab-grown diamonds were at the peak of their popularity.<\/p>\n\n\n\n

In fact, lab-grown stones will probably no longer be seen as an alternative to owning a bonafide diamond. Rather, they’ll segment off into a different, lower-priced market for those who don’t want to buy the real thing, or will one day upgrade to a real stone, Zimnisky and Kinney said.<\/p>\n\n\n\n

And as for people who have already bought lab-grown stones? You’re probably stuck with them. According to Kinney, pawn shops likely won’t even pay 10% of what customers paid for any synthetic diamond \u2014 even diamonds above one carat. <\/p>\n\n\n\n

“Jewelers tell me that a growing number of couples are coming one to three years into a marriage and replacing a synthetic stone with a smaller but real natural diamond,” Kinney said. <\/p>\n\n\n\n

<\/p>\n\n\n\n

**The above content is a repost of an article published on February 18, 2024 in Business Insider written by Jennifer Sor.<\/p>\n","protected":false},"excerpt":{"rendered":"

* The lab-grown diamond boom is over, jewelry industry experts say.\u00a0 * Lab-grown gems are mainstream now and real diamonds are back in vogue, analysts told Business insider. * Prices for lab-grown diamonds are likely to tumble amid a glut of supply.\u00a0 The man-made diamond boom is over, and prices for\u00a0ultra-trendy lab-grown diamonds\u00a0are set to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[],"yoast_head":"\n"The lab-grown diamond boom is over "- A Repost – N D Reiff Company - Blog<\/title>\n<meta name=\"description\" content=\"Lab grown diamond demand is diminishing as diamond buyers are now going back to buying natural diamonds.\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ndrdiamond.com\/blog\/the-lab-grown-diamond-boom-is-over-a-repost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\""The lab-grown diamond boom is over "- A Repost – N D Reiff Company - 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