Natural or lab-grown? Shine on a divided diamond industry following Taylor Swift’s engagement
Perth Man Travis Ricciardo follows the diamond market for both professional and personal reasons. When the podcaster was engaged, he bought a diamond ring grown in a $ 5000 laboratory for his partner.
He said that his fiancée and female friends prefer laboratory grown diamonds for environmental, social and governance reasons.
Natural diamonds in the 136 -year -old jewel store in Ronnie Bauer’s Melbourne CBD.Credit: Justin Mcmanus
“There is a perception that another diamond grown is ethical; I don’t know if it is true, Ric said Ricciardo.
The diamond industry is historically “light or inconsistent ;; However, McKinsey said that there are calls for more strict arrangement and increasing transparency.
United Nations Supported Kimberley Process The conflict aims to eliminate diamonds – such as coarse diamonds used to finance the armed conflicts aimed at weakening the legitimate governments of their allies.
Ricciardo said the price difference between natural and laboratory grown diamonds narrowed.
Taylor Swift and Travis were engaged. The singer’s engagement ring contains an old mine bright cut diamond.Credit: Instagram
“I paid [$5000] If I had gone for the diamond ring for my fiancée and naturally, maybe $ 500 would be more expensive. ”
“The time and effort of most jewelers were the general expenses they had. And then there is a golden element, the gold price increased to a great extent.”
Diamonds grown laboratory probably said that people who cannot meet or spend too much will increase the size of the overall diamond market by offering a cheaper alternative.
Synthetic diamonds have become so popular that one -time monopoly holder representing the world’s largest diamond manufacturers, including a Beers, promised to spend 1 percent of rough diamond revenues to promote natural stones.
Vintage jewels in Klepner’s jewelers in Melbourne CBD.Credit: Justin Mcmanus
The Council also struggles with the idea that diamonds grown in the laboratory are greener.
Authorized, more than 70 percent of the diamonds grown in the laboratory are produced collectively in factories in China and India.
“The production process is around 2000 energy that requires sustainable temperatures. [degrees Fahrenheit, or 1093 degrees Celsius] and large amounts of water to cool the reactors. “
So, what is the future of diamonds? Or will its quick impact provide the demand of the coming years?
The participants sell diamonds at a trade fair for synthetic diamonds in Henan, China. Credit: Future Publications through Getty Images
McKinsey said he could pass several scenarios in his 2024 report. “First, diamonds grown in the laboratory, classic automobile or luxury vintage products, similar to collecting the niche, can take over most of the market other than luxury segments,” he said.
“Secondly, the price of diamonds growing in the laboratory may fall so low that they become fashion accessories that no longer compete with diamonds.
The sapphire and diamond ring worn by Late Princess Diana because she was engaged to Prince Charles in 1981.Credit: AP
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“Assuming that consumers cannot say the difference between natural stones and laboratory diamonds, all diamonds may come out of fashion, lose their charm, and are no longer seen for engagement rings.”
Bauer said that the geologist Ewen Tyler, who found diamonds in Australia, had done something about the diamonds grown in the laboratory.
Bauer said, “If you buy a laboratory diamond, you don’t really like it.“ It was a very funny moment. Not true. But I think the old school. “
