Tuesday, April 16, 2024

Rising popularity of lab grown diamond: here’s why!

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Lab grown diamonds are gaining popularity mainly because they are the same as mined diamonds. They are absolutely real and are grown above in labs by exactly replicating the diamond creation process that occurs below the earth. As a result they have the exact same carbon composition, chemical, thermal and physical properties as a mined diamond.

This is similar to the concept of test-tube babies and naturally born babies where the process is different but the output is exactly the same. In the same way, lab grown diamonds are identical to mined diamonds and also grow in different sizes and qualities and therefore have the same 4C’s too – same cut, colour, clarity and carat.

Pocket and planet-friendly
The biggest benefit of a lab grown diamond is that they are better for the environment simply because they are not mined. They are grown above in labs in exactly the same manner and therefore do not involve digging 150kms below the earth to extract the diamonds. As a result, it saves on the huge destruction of land and water that is associated with mining. Besides, many labs that consume electricity have begun switching to renewable sources or additional sustainable benefits.

Reports indicate that 1 carat of a lab grown diamond can save up to 250 tonnes of land and 109 gallons of water. Today, the world consumes over 100 million carats of mined diamonds, so one can only imagine the damage that mining of diamonds causes and the savings one can make by opting for lab grown diamonds – where the consumer doesn’t compromise on the quality at all but at the same time saves the planet and its people.

They also save up on the mining costs too. As a consumer, majority of the cost paid to purchase a mined diamond is the cost of mining and extracting it from below the earth. And this savings is passed on as benefit to the consumer. As a result, lab grown diamonds are at least 50% cheaper than mined diamonds.

Resale value
Lab grown diamonds can and are viewed in the investment category just as mined diamonds. This is primarily because it offers the same resale opportunities where brands like Limelight Diamonds offer 80% buyback and 100% exchange offers as offered on any precious gem stone in the market. In addition to this, the perception of diamond jewellery and consumer preferences for purchasing diamond jewellery is changing rapidly in India. More than investments, preference is now tilting towards the design and aesthetic value of the jewellery.

Making the solitaire dream a reality!
Since, lab grown diamonds costs nearly 60-70% cheaper than a mined diamond, consumers have begun option for a much larger stone than a mined diamond of the same size, and they appeal to the eco-conscious and ethical sensibilities particularly of the young consumers – particularly the Millennials and the Gen Z.

Going by the demand, renowned retailer Sri Jagdamba Jewels will be organising a three-day exclusive exhibition for their customers. This exhibition will display exquisite collection of lab-grown CVD diamond studded jewellery at their store counter. These sustainable diamonds are offered by Limelight Diamonds, India’s largest sustainable luxury brand. The exhibition will take place from 16th – 18th June at H. No 1-27, ground floor, A block, T.M Yadav, Gokul Plaza, Gachibowli road, Hyderabad.

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