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Blame man-made, or lab-grown, diamonds, for one thing. Other factors include inflation and weak demand in China’s luxury market.
Some high-end fine jewelers have gotten on board with the trend. In 2023, jeweler Jean Dousset, the great-great-grandson of Louis Cartier, opened a showroom with “designer” lab-grown diamonds ...
Lab-grown diamonds of various colors grown by the high-pressure-and-temperature technique. A synthetic diamond or laboratory-grown diamond (LGD), also called a lab-grown diamond, [1] laboratory-created, man-made, artisan-created, artificial, synthetic, or cultured diamond, is a diamond that is produced in a controlled technological process (in contrast to naturally formed diamond, which is ...
Since the 1950s, techniques can produce gem-quality diamonds of essentially any desired chemistry in sizes up to about 1cm. [6] Although some manufacturers do label their synthetic diamonds with serial numbers, there is no guarantee that a given diamond is not man made, although sometimes an unnatural chemical composition or pattern of flaws may suggest a diamond is synthetic.
According to jewelry industry analyst Paul Zimnisky, sales of these man-made diamonds have increased from under $1 billion in 2016 to just under $12 billion in 2022.
Synthetic diamonds are produced via high pressure, high temperature or chemical vapor deposition (CVD) technology. These diamonds have numerous industrial and commercial uses including cutting tools, thermal conductors and consumer diamond gemstones.
To grow a diamond, you start with a diamond, either lab-grown or mined, explains Sabeg. It’s called a “seed” and is usually around 0.3 to 0.6 millimeters thick. (2DOT4 makes its own seeds ...
The production and distribution of diamonds is largely consolidated in the hands of a few key players, and concentrated in traditional diamond trading centers, the most important being Antwerp, where 80% of all rough diamonds, 50% of all cut diamonds and more than 50% of all rough, cut and industrial diamonds combined are handled. [91]