Getting engaged? Amid lab-grown diamond boom, here's what to know about man-made vs. natural gems
Publishing timestamp: 2023-11-08 15:56:35
Summary
The global sales for lab-grown diamonds have increased to $12 billion in 2022, up 38% year over year. Jewelry shoppers are opting for these machine-made gems over mined diamonds because they are visually and chemically identical but cost less. However, lab diamond prices are expected to continue falling, and their value may not hold up as well long term compared to natural diamonds. The lab-grown diamond market is growing rapidly, but there are concerns about oversaturation and the potential for lab-grown diamonds to be considered "costume jewelry" in the future. Consumers considering lab-grown diamonds should be aware that they may not have any resale value. Those planning to invest in natural diamonds should be realistic with their budget and consider financing options or adjusting their expectations. Ultimately, couples should have a discussion and come to an agreement that aligns with their preferences and financial goals.
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Keywords: personal finance, lifestyle, signet jewelers ltd, business news, new york,