Lab-created gems were the main topic of conversations between the buyers this year. People from every part of the industry were interested in marketing and the popularity of lab stones. Jewelers seemed optimistic about the future of the industry and the rise of the consumers’ demand.
However, acceptance of lab-grown diamonds was not the only thing that was talked about. The subject of decreasing prices was discussed during JCK Talks sessions.
“You have people who are out there dumping goods without thinking of the long-term business. They are taking the value out of the product,” said the president of one of the growing companies. However, the common conclusion is that with the rising demand, disruption of mined diamond supply due to the sanctions, and self costs of manufacturing, the lab-grown diamond prices have almost reached stability.
The rise of the consumers’ demand has resulted in the increase of supply. This year, the lab-grown diamond sector inside the Venetian Expo’s halls has reached three quarters of the one that was dedicated to mined stones. This is a huge leap from pre-COVID shows, where you could only see a few booths with man-made diamonds. Growers and wholesalers from all across the globe came to Las Vegas to introduce their gemstones. All together, there were about a hundred of such companies. Among them–new record holders.
Just last month we reported on a 34.59-carat emerald cut, and it’s already been surpassed. An IGI-graded 35-carat even H SI1 emerald diamond that could’ve made the news any other year was not even the main attraction.
There was something else in store. JCK attendees could take a look at “Shiphra”, a ground-breaking 50.25-carat lab-grown diamond cut from a 150-carat CVD rough piece. IGI-certified emerald cut with G color and VS2 clarity grades marks the first polished manufactured stone to surpass the 50-carat milestone. It marks an incredible achievement for the CVD method and growing technologies in general. The stone is certainly aimed at the very high-end segment. As the technologies are further developed, we can expect new unique lab diamonds, such as this one, to be introduced.
This year’s show proved once again how rapidly the market of lab-grown diamonds transforms, and how fascinating its transformation is. The boost of popularity and acceptance allows for man-made stones to be applied in every part of the jewelry industry. From low-priced fashion jewelry to one-of-a-kind large status symbols, it seems like lab-grown diamonds are the way to go.