Falling White Diamond Prices

[MissGotRocks]

Hi. I wrote that out of frustration and to mimic the sentiment that PS users keep repeating lately. I actually started a thread with this question a few years ago on rocky talk—which was later moved to the lab grown forum. I started the thread by posing that exact question—why not embrace it? Why not differentiate between the two types when the proud wearer is rocking an lgd. And, I was attacked, insulted, etc. and it was repeatedly stated that both diamonds are the same! Even vendors posted and repeated that!! This post is directed at vendors who did it to themselves. So if you can’t beat them, join them. PS is sometimes an echo chamber where dissent is discouraged in an effort to keep the peace and spare people’s feelings. Sooo, this mentality has changed my perspective about egd. I will keep mine, but I will be damned if I encourage loved ones to throw away good money on an item that even vendors have no confidence in!

I do understand about all of the vendors joining in on the lab grown diamonds. It pinches a bit for all of the natural diamond purchasers who have carried them to this point. However, I can only assume that if one decides to carry them, then they all must feel that they must do the same. Business is business I guess but it would seem to me that with prices of LGD so low, they would have to sell a volume of them to make the same money. I have not had any of them try to sell me on labs or tell me that they are the same. Do they offer labs due to rising prices or unavailability of natural? I don’t know the answer to that question. Transparency doesn’t seem to be the order of the day but it is a question I have not asked either. I think the policy with most is that there are no trade ins for LGD. It is a one shot deal I guess and if you don’t like the LGD, then you can try to sell it yourself. That is a hard place to be in too with those prices falling.

Labs are not mind clean for me and I feel like if I wore one, I would have to qualify them to anyone that commented on them. That is not true of course and few, if any, would ever ask. I would just feel shabby to let people think that it is something that it is not. That is another reason though why I would not be comfortable owning one of them.

To each his own - I respect other people’s choices and reasoning. I just think that for the younger crowd buying three carat D color diamonds, they just won’t come across as believable. Some won’t care and for the much smaller amount of money they have invested, it really won’t matter to them. It will be interesting to see where this all lands in a year or so!

 

[Lookinagain]

Labs are not mind clean for me and I feel like if I wore one, I would have to qualify them to anyone that commented on them. That is not true of course and few, if any, would ever ask. I would just feel shabby to let people think that it is something that it is not. That is another reason though why I would not be comfortable owning one of them.

I feel the same way. If someone complimented me on a lab grown I'd feel compelled to say what it was. I hope it never gets to the point where I have to tell someone that my diamonds are earth grown, or they will assume lab.

On another note, I do see a lot of lab stones listed on LT. I wonder how they are selling in the pre-loved market. And how much of a loss, if any, the sellers are taking compared to the loss on earth mined, which can be significant.

 

[nala]

I feel the same way. If someone complimented me on a lab grown I'd feel compelled to say what it was. I hope it never gets to the point where I have to tell someone that my diamonds are earth grown, or they will assume lab.

On another note, I do see a lot of lab stones listed on LT. I wonder how they are selling in the pre-loved market. And how much of a loss, if any, the sellers are taking compared to the loss on earth mined, which can be significant.

This! This is what irks me the most! That we WILL get to the point when people will assume they are all lab. And I guess it will be good for safety reasons, lol. But that is part of my disillusionment with the whole diamond market.

 

[nala]

I do understand about all of the vendors joining in on the lab grown diamonds. It pinches a bit for all of the natural diamond purchasers who have carried them to this point. However, I can only assume that if one decides to carry them, then they all must feel that they must do the same. Business is business I guess but it would seem to me that with prices of LGD so low, they would have to sell a volume of them to make the same money. I have not had any of them try to sell me on labs or tell me that they are the same. Do they offer labs due to rising prices or unavailability of natural? I don’t know the answer to that question. Transparency doesn’t seem to be the order of the day but it is a question I have not asked either. I think the policy with most is that there are no trade ins for LGD. It is a one shot deal I guess and if you don’t like the LGD, then you can try to sell it yourself. That is a hard place to be in too with those prices falling.

Labs are not mind clean for me and I feel like if I wore one, I would have to qualify them to anyone that commented on them. That is not true of course and few, if any, would ever ask. I would just feel shabby to let people think that it is something that it is not. That is another reason though why I would not be comfortable owning one of them.

To each his own - I respect other people’s choices and reasoning. I just think that for the younger crowd buying three carat D color diamonds, they just won’t come across as believable. Some won’t care and for the much smaller amount of money they have invested, it really won’t matter to them. It will be interesting to see where this all lands in a year or so!

They are not mind clean for me either, but lately repeating the phrase not mind clean translates to “you are a snobby elitist who only values diamonds for the price that you paid and you are bitter that you paid more than we lgd clients did! And you are foolish for doing so.” I used Quotes to indicate what I have read posted here on PS by several lgd owners and non-owners who don’t want to ruffle any feathers. And bc at the end of the day, many want to have one forum for show me the bling to further blur the difference between lab and egd.

 

[Garry H (Cut Nut)]

I guess to some extent we are all snobs about some things.
And we can be snobs (or act like them) in different ways.
Vegans are snobs who dislike meat eaters or killing animals.
BMW merc drivers might look down on a Prius driver and the Prius driver looks down on the German car drivers

 

[Slickk]

I, for one, am disappointed with the tone this thread has taken. Heaven forbid someone assume your egd is a lgd. I thought we buy these luxury items for our own enjoyment and our own mind cleanliness…not for bragging rights.
Apologies in advance if I offend anyone, but this thread reads elitist and then we wonder why the young generation don’t generally come around here. :/

 

[MissGotRocks]

They are not mind clean for me either, but lately repeating the phrase not mind clean translates to “you are a snobby elitist who only values diamonds for the price that you paid and you are bitter that you paid more than we lgd clients did! And you are foolish for doing so.” I used Quotes to indicate what I have read posted here on PS by several lgd owners and non-owners who don’t want to ruffle any feathers. And bc at the end of the day, many want to have one forum for show me the bling to further blur the difference between lab and egd.

It doesn’t translate to me they way at all because none of that fits me. I don’t regret the money I have spent on natural diamonds and am not bitter about it in any way. They were always an extravagance and I knew that. For me, they were worth it. I am not swayed by what other people may think about me or my jewelry. I know that they are natural earth mined diamonds and that is all that matters to me. It would bother me if I was a young woman sporting a diamond that probably didn’t suit my station in life at that time. I would feel like a phony and that would not make me happy.

As for only one SMTB sub forum, I don’t agree with that. I think it would be misleading to lump them all together. They are clearly at different price points and not all are well cut. There are several regulars that have been very helpful to others interested in LGD. They have been a blessing to those posters. There is talk of blue nuance and striation and such that generally isn’t mentioned in terms of EGD. You would hear other terms discussed with EGD. I think things would get bogged down by having them all together and could be confusing to newcomers.

I think discussion is good - pot stirring not so much and there is a difference between the two. Honest dialogue can be helpful and therapeutic. I think that the conversations regarding EGD vs. LGD have been respectful thus far and I hope it stays that way. Everyone should be able to voice an opinion and conversely, should be respectful of opinions that don’t mirror their own. We don’t all have to agree but we do have to be civil.

@nala, I am happy for you that you bought your diamond when you did. You were very happy with it and I hope you continue to be for years to come. Trends come and go, prices go up and down. Certainty in anything is never guaranteed but if you find something that truly makes you happy, enjoy it to the fullest!

 

[Garry H (Cut Nut)]

I, for one, am disappointed with the tone this thread has taken. Heaven forbid someone assume your egd is a lgd. I thought we buy these luxury items for our own enjoyment and our own mind cleanliness…not for bragging rights.
Apologies in advance if I offend anyone, but this thread reads elitist and then we wonder why the young generation don’t generally come around here. :/

I think your point is 100% valid - people have the right to spoil themselves and feel good about 'treats'.
Others have 100% right to man made diamonds and get more sparkle for less, but my question to them is why not Moissanite - it sparkles better?
I am going to use the car analogy again Slickk:
I have driven middle luxury cars for the past 2 decades because I have a driveway car park at my HQ store. it will become appropriate to trade my sapphire very bright blue Porsche Macan for a hybrid soon. I have to be seen to be seen so to speak.
My other car is a Amarok 4x4 for going bush with an off road trailer.
But I still love the treat of the Porsche, which saved a postman on a bike this morning. He didn't se me and pulled out right in front of me on a main road. A lessor car would not have enabled me to avoid him. My 10 year old grandson said exactly that when we all calmed down!

 

[Mreader]

On another note, I do see a lot of lab stones listed on LT. I wonder how they are selling in the pre-loved market. And how much of a loss, if any, the sellers are taking compared to the loss on earth mined, which can be significant.

I have noticed this and they don’t seem to move at all. I think they would have to be really reduced to move.

One thing I have noticed that the price of old cut labs are still very expensive. Is that because not many people are doing them? More demand? This I am curious about.

 

[Lookinagain]

One thing I have noticed that the price of old cut labs are still very expensive. Is that because not many people are doing them? More demand? This I am curious about.

I'm thinking supply and demand. Someone may want an antique old cut but nice ones are not easy to find so they look to find an old cut lab which probably are less plentiful than MRB cut labs so prices stay up?....just a guess though.

 

[nala]

I, for one, am disappointed with the tone this thread has taken. Heaven forbid someone assume your egd is a lgd. I thought we buy these luxury items for our own enjoyment and our own mind cleanliness…not for bragging rights.
Apologies in advance if I offend anyone, but this thread reads elitist and then we wonder why the young generation don’t generally come around here. :/

Thank you for helping to illustrate my point. Some of us purchased a diamond at a time when they were not so ubiquitous. I have no problem with anyone who wears an lgd, but I do have a problem with the echo chamber that keeps chanting that they are the same item and that they only buy “credible sizes bc heaven forbid people might assume they are wearing a lab grown.” See how your indictment applies to both parties?
And who is to dictate why people buy diamonds? It is not a virtuous purchase!!! It is all purchased for the sake of frivolous enjoyment. No one is holier than thou for buying lab vs natural.
Eta: if the young generation avoids us it is probably a reflection of our different values. Why should the young generation’s values weigh more than mine?

 

[Lisa Loves Shiny]

I love diamonds both lab and natural and have both. To answer @Garry H (Cut Nut) nut's question on why not Moissanite? Moissanite is not a diamond and to my eyes looks different. I think for the same reason people may prefer a violet/blue sapphire over Tanzanite. Or a ruby over a rubellite garnet. Very similar, very beautiful but different.

In the real world people have complimented my natural diamonds and I have said thank you. I never tell them when they compliment me on my naturals that it is a natural diamond and I don't think they care. For that reason I don't tell people who compliment my lab diamonds that they are lab. I don't find that people care. They just think 'pretty'. Isn't that wonderful?

I have read that the price of both natural and lab diamonds have dropped significantly. It's an interesting time for diamonds.

 

[0-0-0]

As a consumer I love lower prices for the same quality of goods. I buy what I like and certainly don’t buy diamonds as a store of value. Lower prices don’t change the amount I budget for jewelry purchases, but can certainly change the mix and timing of my purchases.

 

[monarch64]

My perspective:

My mother has never had a diamond. My parents were married for 53 years before my dad passed and my mom has her 18k 14mm wedding band and that’s it. Once I asked her why she didn’t ask my dad for a diamond or why they didn’t get engaged with one.

She said, “I’ve just never cared for diamonds because no one knows if they’re real or fake.”

That always stuck with me, even though I wasn’t sure I felt the same.

A lot of people LOVE exclusivity. They enjoy feeling like they have something not many others have, and they enjoy the social status those things give them. Cars, property, handbags, diamonds, clothes, shoes, watches…(omg some men and their watches WOW.) So when a substitute or exact replica comes along and someone else is now able to afford it, it can feel like your own “thing” isn’t better anymore; if just anyone can have it, I want something better so people can see that I am more special and higher in the social hierarchy of my peer group.

I think it’s all pretty ego-driven. We want to be perceived a certain way. We also experience some buyers remorse and/or dissatisfaction when the “new” wears off something, like a car we bought a few years ago and then Jim next door shows up with the latest, greatest version. But LGD vs EMD is incredibly different because there is still has such a disparity in affordability between the two types.

I remember my first husband paid $6500 for my e-ring. A very nice 1.5 carat RB in a platinum setting. I just saw in IG today a 1.64 carat LGD of better color and clarity for $1100. I mean it’s shocking. And it makes those who paid so much for EMD indignant to think some couple now is getting a 2 carat solitaire that it took years for us/someone to upgrade to. It’s like they’ve got a head start and it doesn’t seem quite fair.

Last, I think a lot of us here have to realize that the things that were important to us when we were young are just not important to younger generations. Millenials are largely unable to buy homes. Gen Z is just flailing around trying to figure things out. They want the look of the tradition without the exhorbitant inflated cost of what everything has become, and I can’t blame them.

 

[nala]

My perspective:

My mother has never had a diamond. My parents were married for 53 years before my dad passed and my mom has her 18k 14mm wedding band and that’s it. Once I asked her why she didn’t ask my dad for a diamond or why they didn’t get engaged with one.

She said, “I’ve just never cared for diamonds because no one knows if they’re real or fake.”

That always stuck with me, even though I wasn’t sure I felt the same.

A lot of people LOVE exclusivity. They enjoy feeling like they have something not many others have, and they enjoy the social status those things give them. Cars, property, handbags, diamonds, clothes, shoes, watches…(omg some men and their watches WOW.) So when a substitute or exact replica comes along and someone else is now able to afford it, it can feel like your own “thing” isn’t better anymore; if just anyone can have it, I want something better so people can see that I am more special and higher in the social hierarchy of my peer group.

I think it’s all pretty ego-driven. We want to be perceived a certain way. We also experience some buyers remorse and/or dissatisfaction when the “new” wears off something, like a car we bought a few years ago and then Jim next door shows up with the latest, greatest version. But LGD vs EMD is incredibly different because there is still has such a disparity in affordability between the two types.

I remember my first husband paid $6500 for my e-ring. A very nice 1.5 carat RB in a platinum setting. I just saw in IG today a 1.64 carat LGD of better color and clarity for $1100. I mean it’s shocking. And it makes those who paid so much for EMD indignant to think some couple now is getting a 2 carat solitaire that it took years for us/someone to upgrade to. It’s like they’ve got a head start and it doesn’t seem quite fair.

Last, I think a lot of us here have to realize that the things that were important to us when we were young are just not important to younger generations. Millenials are largely unable to buy homes. Gen Z is just flailing around trying to figure things out. They want the look of the tradition without the exhorbitant inflated cost of what everything has become, and I can’t blame them.

I don’t know if it’s about exclusivity as much as it is about thinking that you had a one-of kind diamond that signified research, savings, knowledge, etc. Like the ring was symbolic of all of that. I guess it has always been known that diamonds are not rare, as much as diamond vendors argue that they are, but some of us did believe that we were paying for a stone that did not have identical replicas selling for much less. So for me, it’s not only about exclusivity but the fact that the diamond industry knew that they would release lab growns decades before they actually did, but didn’t advertise this fact. Then, all at once, they started selling and endorsing them…
So my posts have been directed at diamond vendors and to explain why prices are dropping for both types.
It seems that bringing up these issues makes me sound elitist when really, I was just explaining why people in their right minds should stop buying lab or natural diamonds due to the volatility.

It’s funny but your mom’s comment never crossed my mind. I am not at all concerned about people thinking my diamond is real or fake. I think most people assumed I was wearing a cubic zirconia, lol, bc I don’t really dress to impress, etc.

So all this to say that I am not an elitist but I am not surprised diamond prices are falling. Diamond vendors should have taken a lesson from Louis Vuitton—they might be replicated everywhere but the actual purse never goes on sale and never ends up in an outlet. You have to buy the real deal if you really want it and that has kept the brand highly desirable. Same for other brands that didn’t care to make money by selling volume (Coach) in outlets. Yes, Coach outlets sell a lot of bags, but I bet their high end bags do not sell as much and end up on clearance. The resell value of LV is super high and the buyer knows that they can resell their bag 10 years from now and break even or make a profit! But the diamond industry went for all the money now and I don’t know how they will regain consumer confidence.

 

[oncrutchesrightnow]

EGD will always be special to me because they are old and found.

IMHO the industry miscalculated because they overestimated the emotional and cultural benefits of EGD and underestimated the value of “ooo pretty.” Best guess for the future is that diamonds will always be a popular jewelry choice. You can wear your diamond tennis bracelet every day for years and keep enjoying the sparkles.

If you are reading this thread for marketing purposes, here is how you can squeeze money out of diamonds for at least a few more years AND and make the world a better place for all of us who love staring at bling: get men to wear them more often.

 

[monarch64]

I don’t know if it’s about exclusivity as much as it is about thinking that you had a one-of kind diamond that signified research, savings, knowledge, etc. Like the ring was symbolic of all of that. I guess it has always been known that diamonds are not rare, as much as diamond vendors argue that they are, but some of us did believe that we were paying for a stone that did not have identical replicas selling for much less. So for me, it’s not only about exclusivity but the fact that the diamond industry knew that they would release lab growns decades before they actually did, but didn’t advertise this fact. Then, all at once, they started selling and endorsing them…
So my posts have been directed at diamond vendors and to explain why prices are dropping for both types.
It seems that bringing up these issues makes me sound elitist when really, I was just explaining why people in their right minds should stop buying lab or natural diamonds due to the volatility.

It’s funny but your mom’s comment never crossed my mind. I am not at all concerned about people thinking my diamond is real or fake. I think most people assumed I was wearing a cubic zirconia, lol, bc I don’t really dress to impress, etc.

So all this to say that I am not an elitist but I am not surprised diamond prices are falling. Diamond vendors should have taken a lesson from Louis Vuitton—they might be replicated everywhere but the actual purse never goes on sale and never ends up in an outlet. You have to buy the real deal if you really want it and that has kept the brand highly desirable. Same for other brands that didn’t care to make money by selling volume (Coach) in outlets. Yes, Coach outlets sell a lot of bags, but I bet their high end bags do not sell as much and end up on clearance. The resell value of LV is super high and the buyer knows that they can resell their bag 10 years from now and break even or make a profit! But the diamond industry went for all the money now and I don’t know how they will regain consumer confidence.

I totally understand where you’re coming from now. It’s more about the effort and time investment you put into FINDING the right diamond. That’s a big deal and it’s really important to you and others—a lot of others.

I don’t get elitism from any comments in this thread. I just see a lot of human nature and maybe searching for understanding/common ground.

I’ll tell you this with regard to designer pieces—I won’t be buying any more random jewelry. I’m only buying signed pieces now because I’ve taken a bath on several unbranded pieces over the years. Scrap value? I don’t think so! So diamonds are basically just out of my ballpark now but I find this conversation so interesting.

 

[Mreader]

I totally understand where you’re coming from now. It’s more about the effort and time investment you put into FINDING the right diamond. That’s a big deal and it’s really important to you and others—a lot of others.

I don’t get elitism from any comments in this thread. I just see a lot of human nature and maybe searching for understanding/common ground.

I’ll tell you this with regard to designer pieces—I won’t be buying any more random jewelry. I’m only buying signed pieces now because I’ve taken a bath on several unbranded pieces over the years. Scrap value? I don’t think so! So diamonds are basically just out of my ballpark now but I find this conversation so interesting.

It is interesting! And any comparison to color stones? To me they the lab cs can really look different in their cleaner appearance…idk how market value has been affected by cs.

 

[YadaYadaYada]

I think people who want something “one of a kind“ or something nobody else has will be turning to genuine antique pieces. Yes, they can be replicated but generally people who value antiques do so because of the soul and history of a piece and not just for the aesthetic.

I wonder how the younger generations view antique jewelry, like do they think an authentic art deco platinum ring is “grandma looking” or will they embrace the eco-friendly aspect of secondhand. Personally, I value the craftsmanship, the pieces with intricate metalwork, the ones that you need to see a little closer to really appreciate.

All of that to say, I wonder if the falling white diamond prices will have the same effect on the antique market or if it will be spared due to scarcity of true period pieces.

 

[Lookinagain]

For me, and I assume others, the preference for earth grown is based on the fact that it takes many, many years for nature to make them and that something so beautiful can be pulled from nature. Lab grown, for me, defeats that wonder of nature that I like.

 

[nala]

I think people who want something “one of a kind“ or something nobody else has will be turning to genuine antique pieces. Yes, they can be replicated but generally people who value antiques do so because of the soul and history of a piece and not just for the aesthetic.

I wonder how the younger generations view antique jewelry, like do they think an authentic art deco platinum ring is “grandma looking” or will they embrace the eco-friendly aspect of secondhand. Personally, I value the craftsmanship, the pieces with intricate metalwork, the ones that you need to see a little closer to really appreciate.

All of that to say, I wonder if the falling white diamond prices will have the same effect on the antique market or if it will be spared due to scarcity of true period pieces.

I think in the preloved market, these will hold their value if the setting is genuinely authentically antique. But also, at some point you have to figure that the price will be based on the setting unless the stone is removed to certify that it is a natural—at which point you would be disrupting the setting to an extent with prong work. But, with so many lab growns out there, I would not feel 100 percent confident that a diamonds in period pieces are natural.

As you know, I am a lover of the preloved market but moving forward I will have to be more careful about my purchases. Although, I usually base the price by factoring in the cost to remake the setting vs buying it preloved.

I will say that I think the hardest diamond size to resell in preloved would be the one carat modern.

 

[lulu_ma]

I think in the preloved market, these will hold their value if the setting is genuinely authentically antique. But also, at some point you have to figure that the price will be based on the setting unless the stone is removed to certify that it is a natural—at which point you would be disrupting the setting to an extent with prong work. But, with so many lab growns out there, I would not feel 100 percent confident that a diamonds in period pieces are natural.

As you know, I am a lover of the preloved market but moving forward I will have to be more careful about my purchases. Although, I usually base the price by factoring in the cost to remake the setting vs buying it preloved.

I will say that I think the hardest diamond size to resell in preloved would be the one carat modern.

Testers are now $500. I hope that they go down in price as I’d like to eventually get one.

 

[Lisa Loves Shiny]

It is interesting! And any comparison to color stones? To me they the lab cs can really look different in their cleaner appearance…idk how market value has been affected by cs.

That's a great question. How do you feel about lab colored stones? I prefer natural colored gems except true antique pieces. To me there is so much variety in the color, tone, inclusions, and saturation when considering even one variety of colored gemstone. For this reason I prefer natural, mined gemstones. With white diamonds IMHO they are very similar. They differ in some ways of course with color grade, clarity and cut but not in the way colored stones differ. I find colored stones more unique and interesting.

 

[Texas Leaguer]

I see passions here are a little raw. Adapting to rapid change can be overwhelming at times. This is true both as a consumer and as a merchant.

Diamond prices and the diamond market have been dramatically altered not only by the emergence of lab grown product, but by a series of major geopolitical and macroeconomic events.

The notion of holding vendors responsible for harming the diamond market is to a large extent "victim blaming". The diamond industry is not a monolith and all the different businesses in the ecosystem are responding to a complex set of market factors required for their own survival.

Nor is the consumer market a monolith. For instance, there are segments fully embracing LGD while others are not interested in anything but natural diamonds. Vendors are to a large extent simply responding to demand from both segments. That is part and parcel of the free enterprise system. The many challenges in the global economy in recent years make seizing market opportunities imperative for many businesses, some of whom would probably prefer to maintain the status quo.

Moreover, I think it is important to realize that we are in a period of rapid and dramatic change, and to try to take more of a "10,000 foot view" of things. You can see from the charts, that diamond prices are responding to events with more volatility in this block of time with all that is going on. You can see rapid movements in both directions. It probably makes sense to take a longer term view in evaluating things like the true value of a natural diamonds versus lab grown diamonds.

 

[RunningwithScissors]

A few weeks ago I was startled to see an advertisement on my IG feed where the company was giving away free 2 ct LGD to people who purchased a ring setting for it. It made me feel sad. I do value EGDs' feeling of uniqueness and specialness, and seeing companies give away free 2 ct LGD diamonds when the customer buys a cheap setting, takes away that feeling of specialness from ALL diamonds. It puts diamonds in the same category as free t-shirts or mugs you'd get when you buy a carwash.

I honestly do not remember what company was giving these LGD diamonds away. It wasn't one I follow, just one advertised to me that day.

I love diamonds and all my life, and since early childhood, I've wanted a "big girl" jewelry collection centered around a few really nice diamonds. Until my late 40's I haven't been able to afford them, but have I've worked hard in the right direction to set my financial life up so that my family and I would be prosperous. It took a lot of work and going without the creature comforts that are all too easy to buy along the way that drain many American's money that otherwise could (should) be going into creating financial stability (there's an epidemic of people unprepared for retirement or to even weather a minor financial setback). In my family we only paid for "needs", not "wants" until the last few years so we could build our nest egg and our future.

Finally, finally, after years and years of hard work, I'm in a place where I can buy myself a few diamonds. And then I see them being given away if you buy a cheap ring setting. So I'm really sad about that.

Yes, I will continue to buy EGDs and other jewelry pieces because having that small, foundational, high quality jewelry collection is very important to me. Wearing jewelry everyday 1) brings me tremendous joy 2)makes me feel "put together" and 3) is an expression of my style and my inner self.

LGDs will never feel like fine jewelry to me. I don't begrudge others who have them or who enjoy them. You do you. I'll do me. But I am very sad to see the prices of LGDs drop to practically nothing, because that cheapens the feel of ALL diamonds. I'd be so much happier if LGDs stayed at or above about 1/2 the cost of EGDs. That way we could all be happy, those who want a less expensive alternative to EGDs could have them and still have something of value, and those people like me who love EGDs and have worked my @ss to finally be in a position to now buy them could still have something that feels luxurious and extra special.

One final comment. Calling something "elite" or "elitist" makes the person using the term look weak and whiny. Most things in life don't just happen. Just showing up doesn't merit a prize no matter what the current fluffy parenting trend says. A Navy Seal puts in tremendous work, hardship and sacrifice to become a Seal. A scholar with an MIT PHD has put the same sacrifice and work into their field. A dancer for the NY Ballet has too. I honor their "elite" status, they've earned it.

Someone who has worked hard to shore up their personal and family finances so that they are in a stable and responsible place to weather storms and not be a burden to others deserves respect and admiration too. And if, after putting in the hard work and sacrifice it takes to achieve that, those people want to buy fun stuff like jewelry, then they should be able to without the masses whining its "elitist". My Latino husband, raised by a single mother, who had to eat from a food pantry while he was earning his PhD at the Univ of Chicago should have everyone's respect. But I've heard him called "elitist" many times, often for stupid stuff like wearing a suit and tie to work. (Try being a brown person and NOT dressing professionally -- on the rare occasions my DH hasn't worn a suit and tie, white people have mistaken him for the janitor.)

 

[nala]

I see passions here are a little raw. Adapting to rapid change can be overwhelming at times. This is true both as a consumer and as a merchant.

Diamond prices and the diamond market have been dramatically altered not only by the emergence of lab grown product, but by a series of major geopolitical and macroeconomic events.

The notion of holding vendors responsible for harming the diamond market is to a large extent "victim blaming". The diamond industry is not a monolith and all the different businesses in the ecosystem are responding to a complex set of market factors required for their own survival.

Nor is the consumer market a monolith. For instance, there are segments fully embracing LGD while others are not interested in anything but natural diamonds. Vendors are to a large extent simply responding to demand from both segments. That is part and parcel of the free enterprise system. The many challenges in the global economy in recent years make seizing market opportunities imperative for many businesses, some of whom would probably prefer to maintain the status quo.

Moreover, I think it is important to realize that we are in a period of rapid and dramatic change, and to try to take more of a "10,000 foot view" of things. You can see from the charts, that diamond prices are responding to events with more volatility in this block of time with all that is going on. You can see rapid movements in both directions. It probably makes sense to take a longer term view in evaluating things like the true value of a natural diamonds versus lab grown diamonds.

You are absolutely correct. As a diamond vendor, you do not represent the entire diamond industry so my apologies for blaming vendors and not whomever calls the shots in the diamond industry.
But, to your point about consumer demand—it is obvious that consumers want quality at cheap prices for everything!! Duh!! And if rumors are correct, the diamond industry had controlled the supply and demand of diamonds in order to sustain high and stable prices for decades. So, I do hold vendors accountable to an extent bc you all helped to legitimize and encourage the lab grown market by not holding out. And I go back full circle to my first post—you did it to yourselves.
And hopefully you are right and this is a case of taking a longer term view but i can’t help but wonder—why did you all not take that long term approach before you slapped on your specialty cuts to lab grown? Because you wanted money and you wanted it now or because you did not believe the natural market would endure in the face of selling the exact same product for thousands less. Sorry. The only victims here are the consumers of both natural and LGD.

 

[smitcompton]

Hi,
I think this has been a great discussion. So many good points raised. But, I for one will not equate LGD with EGD, although I would buy either for different things.

We have lab created in colored stones that were priced significantly higher when first introduced and have since fallen dramatically. It did not reduce the prices of the natural earth mined stones.. Jewelers carry both.

When irradiated diamonds hit the market, they were priced rather high. They fell as well. Recently they have had a resurgence in price that I guess has to do with the changing market.

No matter what people say. Something that comes from the earth is not the same as man-made. Chemically it may be the same substance, but its provenance is much different. Provenance matters.. Give the market some time to adjust. Nothing elitist here.

Annette

Annette

 

[Texas Leaguer]

@nala ,
At one time, it could be plausibly argued that DeBeers was the entity who "called the shots in the diamond industry". But that ship sailed long ago with the dismantling of their near monopoly. Today there are numerous competing interests vying for market share in the industry. So, identifying a responsible party becomes harder, and it becomes more likely that a collection of major companies are simply making decisions based on their individual business needs and the needs of their stakeholders. For instance, many companies have had to make hard decisions between launching new product lines or laying off workers as the global economy convulsed.

In fact, there are now two competing industries - the miners and the growers. And given the rather adversarial relationship, there is little reason to believe there is any kind of collusion taking place, or even collaboration aimed at crafting the overall market. They are all just engaged in fierce competition, both with one another and with the opposing industry. The cutting industry is where the two come together, but can anyone blame cutters for cutting whatever rough is available and in demand by consumers, rather than idling their factories and sending their people home without a paycheck?

We are all watching it play out. Which is pretty interesting in itself! Where it eventually lands is a question that everyone in the business, and consumers as well, are trying to predict. Fortunately, we have analogs that give us clues. Synthetic sapphires and rubies are abundantly available in top colors and clarities today for very little money. Yet there is still a completely separate and robust market for natural rubies and sapphires because those markets have matured and stabilized. We are still in the early days of the LGD market and it has not yet settled into equilibrium.

 

[Texas Leaguer]

Hi,
I think this has been a great discussion. So many good points raised. But, I for one will not equate LGD with EGD, although I would buy either for different things.

We have lab created in colored stones that were priced significantly higher when first introduced and have since fallen dramatically. It did not reduce the prices of the natural earth mined stones.. Jewelers carry both.

When irradiated diamonds hit the market, they were priced rather high. They fell as well. Recently they have had a resurgence in price that I guess has to do with the changing market.

No matter what people say. Something that comes from the earth is not the same as man-made. Chemically it may be the same substance, but its provenance is much different. Provenance matters.. Give the market some time to adjust. Nothing elitist here.

Annette

Annette

@smitcompton ,
I was typing similar comments as you posted!

 

[oodlesofpoodles]

I have noticed this and they don’t seem to move at all. I think they would have to be really reduced to move.

One thing I have noticed that the price of old cut labs are still very expensive. Is that because not many people are doing them? More demand? This I am curious about.

Just from my little small corner of the world I have some insight on this. Most of the diamonds are cut in India, in modern cuts, like an assembly line. They are going for volume and speed to produce as much as they can in the shortest amount of time in order to maximize profit. The antique style cuts are not what is in demand so if that is what you want you need to special order them in large numbers for it to be worth the vendors time and effort to change their normal procedure. Because there is not a large demand for them no one orders them in bulk (most vendors have a minimum carat order or number of diamonds). So what happens if you only need a few is that you order them in the modern cut, then have them recut and recertified in the US which of course adds greatly to the time (6 weeks at least) and cost especially since labor prices for US cutters is higher. You are spending a lot shipping them from the original supplier to you, to your cutter, to be certified, and back to you (in addition you lose carat weight in the recut). Lovers of antique diamonds are attracted to the age and romance of antique stones and in large part the imperfect hand cut unique look. Modern recuts are more perfect in symmetry, this is most evident in Old Mine Cut stones. They don't look like antiques, more antique inspired. They will likely not meet the expectations of a genuine Old Mine Cut if that is what is desired. I find that they do much better when cutting Old European Cuts because they were more symmetrical to start with. I have a few lab OECs and I personally love them but the cost to produce them is much higher than modern cut laboratory diamonds at the wholesale level thus the higher price point.