Edahn Golan described my situation perfectly. I am celebrating our 30 year wedding anniversary this year, and I wanted to upgrade my diamond. Ice was set to buy a natural diamond, but when I did more research on lab created diamonds, I changed my mind and purchased a lab created diamond. The number one reason was I wanted to keep my diamond for its value so I can pass it on to my children. I also compared the price of a 2.5 carat natural diamond which was 6 times the cost of getting a 3 karat lab diamond. If I would invest another $25,000 to get a 2.5 carat natural diamond compared to investing $4200 to get a 3 carat lab created diamond, it was no-brainer. I would lose at least 30% of my investment for the 2.5 carat natural diamond which would be around $8000 in depreciation in comparison to losing $4200 with the 3 carat diamond AND I kept my original natural diamond. My lab diamond is absolutely beautiful. No regrets.
This was an interesting conversation! At times listening to the woman in the black blazer was exhausting. The man with the grey shirt is so much more informed: never speaking to hear his own voice, nor interrupting other panelists. The consumer wants the biggest diamond for the lowest price. Eff an “emotional purchase “. The consumer doesn’t owe you that. Young people trapped in hustle culture, barely making ends meet aren’t going to prop up the diamond industry based on nonsense arguments like stories, lanes, and emotions. Lab diamonds out of China and India will force prices down, and do to mined diamonds what cultured pearls did to “natural “ pearls. You can only keep singing the praises of horse and buggy diamonds over lab grown automobiles, but mined diamonds, with the exception of truly rare, huge IF stones, are obsolete. Asia is now growing diamonds with the same inclusions as mined. In smaller than 1ct diamonds that aren’t laser inscribed, aren’t going to “be screened “ for their origins, and the industry isn’t going to invest (waste money) on self-policing. The consumer is caring less and less. Young GROOMS aren’t going to blow 2-3 months income on a diamond engagement ring regardless of what De Beers says. They’re not watching tv advertising like old boomers. They already know what a scam diamonds are. Many are even buying Moissanite, for its higher refraction, durability, and price. The consumer wants maximum size and sparkle for the lowest price possible. Either you evolve and adapt, or face extinction.
A well-informed consumer ( not educated by diamond cartels and jewellers) is terrifying to the industry. They’ll make the well-informed decision to wait as prices plummet for lab diamonds, bypass mined diamonds that don’t have real resale value unless they’re truly of exquisite quality and size, then buy a lab diamond. They won’t be able to sell these lab diamonds at $1200 per carat for much longer, and validate these prices by saying it’s much cheaper than mined. The consumer will decide!
@Oldtanktapper ... For color enhancement and to hide the flaws. Not all of them get post treatment. Ask the seller if the stone you picked is treated or not, although they may not know themselves.
Edahn Golan described my situation perfectly. I am celebrating our 30 year wedding anniversary this year, and I wanted to upgrade my diamond. Ice was set to buy a natural diamond, but when I did more research on lab created diamonds, I changed my mind and purchased a lab created diamond. The number one reason was I wanted to keep my diamond for its value so I can pass it on to my children. I also compared the price of a 2.5 carat natural diamond which was 6 times the cost of getting a 3 karat lab diamond. If I would invest another $25,000 to get a 2.5 carat natural diamond compared to investing $4200 to get a 3 carat lab created diamond, it was no-brainer. I would lose at least 30% of my investment for the 2.5 carat natural diamond which would be around $8000 in depreciation in comparison to losing $4200 with the 3 carat diamond AND I kept my original natural diamond. My lab diamond is absolutely beautiful. No regrets.
This was an interesting conversation! At times listening to the woman in the black blazer was exhausting. The man with the grey shirt is so much more informed: never speaking to hear his own voice, nor interrupting other panelists. The consumer wants the biggest diamond for the lowest price. Eff an “emotional purchase “. The consumer doesn’t owe you that. Young people trapped in hustle culture, barely making ends meet aren’t going to prop up the diamond industry based on nonsense arguments like stories, lanes, and emotions. Lab diamonds out of China and India will force prices down, and do to mined diamonds what cultured pearls did to “natural “ pearls. You can only keep singing the praises of horse and buggy diamonds over lab grown automobiles, but mined diamonds, with the exception of truly rare, huge IF stones, are obsolete. Asia is now growing diamonds with the same inclusions as mined. In smaller than 1ct diamonds that aren’t laser inscribed, aren’t going to “be screened “ for their origins, and the industry isn’t going to invest (waste money) on self-policing. The consumer is caring less and less. Young GROOMS aren’t going to blow 2-3 months income on a diamond engagement ring regardless of what De Beers says. They’re not watching tv advertising like old boomers. They already know what a scam diamonds are. Many are even buying Moissanite, for its higher refraction, durability, and price. The consumer wants maximum size and sparkle for the lowest price possible. Either you evolve and adapt, or face extinction.
Excellent argument! I totally agree!
Thankyou for the insight panel
Let customer make the decision on what they want to buy
A well-informed consumer ( not educated by diamond cartels and jewellers) is terrifying to the industry. They’ll make the well-informed decision to wait as prices plummet for lab diamonds, bypass mined diamonds that don’t have real resale value unless they’re truly of exquisite quality and size, then buy a lab diamond. They won’t be able to sell these lab diamonds at $1200 per carat for much longer, and validate these prices by saying it’s much cheaper than mined. The consumer will decide!
How to study jewelry business today, any good school for starters?
Careful in buying lab diamonds. A LOT of them are heavily treated, which means, it would eventually change color and diminish sparkle.
Lies
@@Yougotthis1212 ... Ignorance is bliss
Treated how?
@Oldtanktapper ... For color enhancement and to hide the flaws. Not all of them get post treatment. Ask the seller if the stone you picked is treated or not, although they may not know themselves.
False
Lab created diamonds are hurting my high profit margins. I hate them!