The diamond industry is shining brighter than ever in 2024, thanks to the increasing popularity of lab grown diamonds. The industry is expected to grow at a CAGR of 9.6% from 2023 to 2032, with a value of $59.2 billion.
Whether you’re considering a lab grown diamond ring or accessories like lab grown diamond bracelets, earrings or necklaces, this year is the perfect time to invest in these sparkling gems. Not only can they become a valuable heirloom in your collection, but they support ethical luxury and conscientious consumerism.
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What Makes Lab Diamonds a Good Investment?
Lab grown diamonds have become a popular choice for investors and consumers looking for an ethical and cost-effective alternative to natural diamonds. Created in a lab setting, these diamonds mimic the properties of natural diamonds without the ethical concerns associated with mining. Here’s why lab diamond pieces are a good investment:
- High quality. Lab diamonds are evaluated using the same standards as natural diamonds: cut, color, clarity and carat weight. This means they can achieve high levels of brilliance, clarity and color, often at a fraction of the cost of their mined counterparts. For instance, many lab grown diamond rings feature a center stone with top grades in all four Cs, making them attractive for aesthetic and investment purposes.
- Diverse range of cuts, colors, settings and metals. Just like mined diamonds, lab diamonds are available in a variety of cuts, from classic rounds to more unique shapes like marquise. They also come in different colors and settings, which can include precious metals like platinum and yellow, white or rose gold. This diversity allows for customization and uniqueness in jewelry that holds its appeal and value over time.
- Cost-effectiveness with potential for appreciation. While typically less expensive than natural diamonds (up to 50% to 60% in some cases), lab diamonds can appreciate in value as demand increases and as more consumers seek ethical options for luxury goods.
Their initial lower cost can also make it possible to purchase larger or higher quality stones for the same budget. For instance, you can choose a 4⅞-carat lab diamond halo engagement ring for about $7,215, compared to a similar-sized natural stone for over $200,000. This can potentially increase the appraisal or resale value, especially when compared to lower-quality mined diamonds.
- Appeal to ethically conscious buyers. The market for lab diamonds has grown as consumers become more aware of the negative impacts of traditional diamond mining. Between 2020 and 2022, loose lab diamond sales doubled from an average of 8.3% to 17.3%. This ethical appeal can boost the marketability and long-term desirability of lab diamonds, contributing to their investment value.
Sentimental Value of Lab Diamond Pieces
While a beautiful lab diamond accessory represents a solid investment in market value and quality, it also holds significant sentimental and emotional worth. This dual appeal boosts its overall desirability, making it an even more attractive option for personal adornment and long-term investment.
- Enduring emotional value. Jewelry featuring lab diamonds often carries deep personal significance, marking special occasions such as engagements, anniversaries or milestones. This emotional attachment can increase the piece’s sentimental value over time.
For instance, a three stone lab grown diamond engagement ring can symbolize your past, present and future, making it a meaningful emblem of your journey together.
- Style versatility. Lab diamonds adapt to all types of jewelry styles and settings. This ensures that pieces like lab grown diamond bracelets match your or your special person’s personal tastes or current fashion trends, maintaining the accessories’ relevance and appeal.
A whimsical emerald and heard lab diamond bangle might be a fun addition for a modern, eclectic look. Alternatively, a lab grown diamond tennis bracelet can offer a timeless, sophisticated addition to any elegant ensemble.
- Legacy potential. Lab created diamonds are genuine diamonds with a hardness rating of 10 on the Mohs Scale, ensuring their durability across generations. Pieces like a stunning lab diamond engagement ring or stud earrings are perfect for becoming family heirlooms, boosting their sentimental and financial value as each piece holds its own unique history.
Some retailers offer the unique option of collaborating with artisans to design custom jewelry pieces from scratch, increasing their value. This personalized service helps you weave a special story into a one-of-a-kind piece, making it a treasured addition to your family’s collection.
An Ethical Investment: Buy Lab Diamond Jewelry in 2024
If you’re looking for a diamond accessory or milestone jewelry in 2024, consider lab grown diamonds. With the ability to customize your pieces and the assurance of lasting value, lab diamonds offer a sophisticated choice that aligns with modern values.
Whether commemorating a special occasion or investing in a family heirloom, lab diamond jewelry helps you make a statement reflecting your style and commitment to responsible luxury.
