As we come to the end of 2023, we can truly say that it has been the year of the lab-grown diamond. Enquiries in South Africa have rocketed, supplies are plentiful, and the wall of buyer resistance is being torn down. Whilst there is still much confusion surrounding lab-grown diamonds, we’re finding that more and more South Africans growing open to the idea of purchasing them.
We know that natural diamonds will always be the unique geological creations that make our hearts beat faster, but we also know there is a growing place in the market for man-made diamonds. As always, Katannuta Diamonds is education-driven and what’s driving us crazy is the plethora of misinformation and disinformation that is surrounding lab-grown diamonds.
So, let’s clear up some misconceptions, explain a few facts about the diamond industry right now and show you the only reason to buy a lab-grown diamond (if you’re looking to buy one).
Note: we use the phrases lab-grown diamonds, synthetic diamonds and man-made diamonds interchangeably throughout this post, because they are all one and the same.
Lab-grown diamond engagement rings are becoming more and more popular in South Africa.
Lab-grown diamonds aren’t necessarily “green” (or eco-friendly, or sustainable).
The biggest created narrative surrounding man-made diamonds is that they are green, eco-friendly, and sustainable. It’s the perfect story to complement the growing consumer trend towards sustainability and concern about the long-term damage we’re inflicting on our planet.
As is the case with many industries trying to capitalise on the eco-friendly bandwagon, greenwashing is rife in the lab-grown diamond industry. To replicate the extreme geological conditions under which natural diamonds grew billions of years ago, synthetic diamond factories need to recreate temperatures of up to 1500°C and pressures of approximately 4-6 gigapascals.
It doesn’t take a rocket scientist to understand that recreating these pressures and temperatures takes a huge amount of energy. In the words of an ex-employee at a lab-grown diamond factory, “The machines that produce diamonds require constant energy, 24/7, running huge microwave-heat generators.”
Synthetic diamond HPHT machines at a factory in China. Source: Huanghe Whirlwind.
Whilst the creation of man-made diamonds doesn’t require digging a massive hole in the earth, it still has a massive environmental impact. A large proportion of currently available synthetic diamonds are made in China and India, where 63% and 74% of grid electricity respectively, is generated from coal. Add to this that in many factories, a considerable amount of water is also required for cooling systems for reactors and the “eco-friendly” claims of lab-grown diamond marketers start to sound a little hollow.
Row upon row of diamond seeds, ready to start the lab-grown diamond growth process. Source: Lightbox.
Synthetic diamonds are no more ethical than natural diamonds
A popular tagline for lab-grown diamonds is that they are “ethical”, which immediately suggests that natural diamonds are unethical. In 2023, this innuendo is completely untrue. We’ve previously written about conflict-free and ethical diamonds and if you’re labouring under the misunderstanding that buying a lab-grown diamond is more ethical than a natural diamond, you’re sadly mistaken. De Beers has committed to becoming carbon neutral by 2030 and Rio Tinto has set the goal of achieving net zero emissions by 2050. Protecting biodiversity, recycling water and adhering to government requirements for ongoing environmental monitoring, reporting and closure plans all form part of ethical practices followed by natural diamond mining companies around the world.
If synthetic diamonds were being marketed in the early to mid-1990s, at the height of the conflict diamond era, then perhaps the “ethical” label could have been appropriate. Twenty-one years into the Kimberley Process and with ever-increasing demands being put on natural diamond mining companies, 99.8% of the trade in conflict diamonds has been disrupted and lives have been safeguarded.
So, why would you buy a lab-grown diamond?
Once you’ve stripped out the misleading man-made diamond marketing regarding the environment, sustainability and ethics, you’re left with only one reason to consider a lab-grown diamond.
The price tag.
Lab-grown diamonds are exceptionally cheap compared to natural diamonds. Not only that, but prices are dropping year-on-year as factories ramp up their lab-diamond production. So, if you were an early adopter and bought a lab-grown diamond 5 years ago, the same diamond now would cost you substantially less. The advantage of lab-grown diamonds is that the price point allows diamonds to be more accessible to a greater segment of the population. There are still customers who will buy natural diamonds, but realistically, natural diamonds are unaffordable for many (especially in South Africa where our exchange rate to the US Dollar is so weak).
The low price points of lab-grown diamonds mean that clients can get larger and better-quality diamonds for a certain budget. As an example, we recently sold a 0.91ct E VS1 emerald cut diamond for close to the same price as we sold a 3ct G VS1 lab-grown diamond. If you’re looking to get the biggest visual punch for your budget, a lab-grown diamond is a no-brainer.
A 2ct lab-grown diamond pendant.
As long as you understand that a lab-grown diamond will never hold any value, it will never be an investment (whether natural diamonds are an investment is a long-raging debate), and you are not single-handedly saving the earth by purchasing one, you can appreciate it’s beauty and the joy it may bring you.
Don’t let anybody make you feel guilty if you do buy a lab-grown diamond.
As we wrap up, remember that love shouldn’t be measured in carat size or price tags. Our best advice is to set a budget for your engagement ring purchase and know that the intention and the sentiment behind your ring are always more important than whether the diamond is natural or lab-grown. Lab-grown diamonds are not counterfeit and your partner certainly doesn’t love you any less if they opt for a lab-grown diamond.
Our popular “Anke” ring design made entirely with lab-grown diamonds.
We believe in full disclosure and education and, if you have any questions regarding natural or lab-grown diamonds, or are confused in any way, drop us a line and we’ll get you the answers you’re looking for. We also supply both natural and lab-grown diamonds at competitive prices and will custom-design and manufacture your perfect engagement ring. Contact us today to set an appointment with Clare.
