Cost Comparison Between Naturally Mined and Synthetic Diamonds
February 10, 2021
Synthetic diamonds have drawn a lot of hype in recent years. People hold a different opinion, both negative and positive on whether to buy synthetic diamond jewellery or not. This has created a lot of confusion. So let us see where do the facts lies in comparing natural diamonds and synthetic diamonds in terms of value and cost.
First and foremost, lab grown diamonds uk are diamonds made in a laboratory where carbon is exposed under high pressure and heat which transforms it into a diamond. Whereas, the same process undergoes in natural conditions for years to make natural diamonds. This is the only fundamental difference between the two types. Synthetic diamonds are, too, available in every shape, size, and are identical in look. One minor chemical difference between a natural diamond and synthetic diamond is, natural diamonds have a tiny percentage of nitrogen content, and lade-made diamonds do not.
The costs of lab-made diamonds are constantly changing. 3-4 years ago, synthetic diamonds were 23-25% more expensive than natural diamonds. And as of now, lab-made diamonds are 30-50% cheaper than natural diamonds. The staggering difference in the price is due to supply. The supply of natural diamond is limited because it takes billions of years for nature to create a diamond. With synthetic diamonds, there is no shortage of supply so the price goes lower and lower as the supply goes up.
The difference in the resale value is more than the buying value. When you buy a natural diamond, the resale at least sustains up to 50% whereas, once you buy a synthetic diamond, the price drops exponentially and you get more than just a few pennies for reselling that synthetic diamond. So in terms of value, synthetic diamonds put lower competence. A natural diamond will be older and older every day, hence, naturally created diamonds’ price will always grow because of its historical background and it will always have greater value than a synthetic diamond.
Which one should you buy?
The answer to this question totally depends on what your priority is. If you want to use the jewellery in daily use and your priority is purely appearance-based, you should go for a synthetic diamond because there is no difference in appearance between the two categories. Nobody can tell if the diamond is synthetic or natural based on observation. It would only be known to people that it’s a synthetic diamond when you reveal it yourself. If you are buying jewellery as an investment or luxury, natural diamond is for you. Natural diamonds are limited in supply so they show royalty.
To check what kind of diamond it is, you’ll have to go through the certification. When you make the purchase you need to keep this thing in mind. All reputed jewellers like Hatton garden jewellery shops provide full information about the diamond and its certification. This information can reveal so much about the price and resale value of the diamond that you are purchasing. If you are in London, you must pay a visit to the Hatton garden jewellery market which is one of the famous travel places in London and a shopping hub for travellers.