Natural Grown Diamonds South Africa
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What is the truth | Why so many misconceptions?
Why are there so many lies about lab grown diamonds?
The short answer is that the mined diamond industry, from the industrial mining operations all the way to the independent retailers, fear the coming disruption of laboratory-grown diamonds. The reason for this is change! Remember the year 2000, everyone feared the turn of the century, the same is happening here. People fear change, especially when they have a false sense of financial stability in the way's of old.
Unlike other industries that were unprepared for disruption, the diamond lobby has worked preemptively to fight the competition, doing everything possible to stymie the growth of the lab diamond industry. Part of that effort involves spreading fear, uncertainty, and doubt about lab diamonds.
Don't Believe me! Just look at De Beers
Fears of Industrial Mining Corporations
Diamond miners fear of laboratory-grown diamonds began on 15 February 1955, when General Electric (GE) announced the first successful growth of diamond above the Earth. As a result of the announcement "De Beers stock dropped dramatically … the diamond industry was in turmoil." De beers and mining lobby groups have been on the war path since and its not been pretty!
As a result of the recent improvement of diamond growing technology, De Beers and it's rival diamond mining corporations came together to form the Diamond Producers Association (DPA), a trade group formed to fight synthetics. With an annual budget in 2017 of the DPA at $57 million dollars.
and then guess what De Beers goes and does?
De Beers goes and in 2018 launches Lightbox lab grown diamonds? Why? We will let you do your own homework why? Lets just say the leaders of an industry where suddenly being left behind in the turn of the new "diamond" century!
Fears of the Jewelry Retailer
We have found many reported falsehoods told in the industry by salespeople at both local and high end jewelers as well as major global jewelry brands, either out of ignorance or malicious intent to close a sale. The sad part is that we have found the latter to be more truth! They do not wish to educate their clients in truth rather sell what they have!
Examples of these alternative facts include
- The resale ability of lab diamonds (guys, this is such a lie, just look at De Beers, Hello this is the 21st century of technology and eco environmental conscious clients, the resale value has increased a thousand fold in the last three years)
- That lab diamonds change color over time (they don’t!). It makes no sense, why would something identical in every property not be identical in this?
- That lab diamonds actually use more energy than strip mining the earth (they don’t!), see our FAQ on the facts - this is crazy!
- Lab Diamonds are Cheap to Manufacture. This is the most common misconception and is completely false. De Beers self-reported costs to mine diamonds was $104 per carat (for rough diamonds) in 2015. The marginal cost to grow each diamond in a laboratory is many times the cost for De Beers and other mining operations to dig diamonds out of the Earth, even if you ignore the fixed costs of the machinery required to culture diamonds in a lab.
The costs to cut, polish, and grade diamonds is exactly the same, regardless of the origin: grown or mined.
- All Lab Diamonds all Colorless and Flawless - see our FAQ
- Lab Diamonds are Going to Flood the Market - see our FAQ
- Mined Diamond Prices are Reduced by Lab Diamonds - see our FAQ
- The Industry Only Exists to Make Gemstones - Lab Diamonds are Advancing Computing, Medicine, Manufacturing, Communication, and more. The purpose and main goal of the lab grown diamond industry is not to grow diamond gemstones. The main purpose of the lab diamond industry is for high tech applications of diamonds such as laser lenses, surgical knives, water purification devices, high pressure anvils, semi-conductors, and more. The price of each of these functional diamonds is more than the prices of a diamond gemstone of the same size. Thus, only grown diamonds that are not perfect enough for high tech applications are cut and polished and sold to consumers as gemstones. When you purchase a lab grown diamond, you are investing in the future of humanity. Your purchase of a lab grown diamond directly funds research and development efforts to improve the use and efficiency of lab diamonds in the next generation of technological advancement and achievement.
The reality is retailers of mined diamonds have a lot to lose: they are often holding millions of dollars of inventory that savvy consumers categorically reject due to unknown origin and inflated price
Expert Predictions About the Rise of Lab Diamonds
Industry analysts from both Morgan Stanley and Bain predict that lab diamonds will make up between 7.5% to 15% of a $100Bn global diamond jewelry market by 2035, despite the fact that lab diamonds make up no more than 2% of the market in 2020. That’s enormous growth potential that is terrifying to an industry overwhelming resistant to change. We have global leaders outside of De Beers that have made entry into the market for early 2021! I wonder why?