April 18, 2024

Millennials Driving Change: How Lab-Grown Diamonds Disrupt the Market

Millennials Driving Change: How Lab-Grown Diamonds Disrupt the Market

Diamonds have been among the most desired jewels for centuries, thanks to their rarity, beauty, and durability. In the modern world, diamonds hold great sentimental value, which is why many people associate them with love. If you want to propose to your better half, you are probably thinking about getting a diamond engagement ring. Keep in mind that there’s no better way to propose than with rare carat engagement diamond rings. The company has a solid reputation for providing high-quality diamonds at competitive pricing, bundled with exceptional customer service.

While natural diamonds have been the only game in town for centuries, the year 1954 saw the introduction of the first lab-grown diamonds. Unsurprisingly, artificial diamonds have been rising in popularity along with the growth of the diamond market. Lab-grown diamonds are now more desirable than ever before.

A recent study uncovered that about 70% of millennial-aged consumers favor artificial diamonds over natural diamonds. Synthetic diamonds offer almost the same quality and sparkle as mined diamonds for a fraction of the price. Suppose you wish to buy artificial diamonds, head to Rarecarat.com to explore some of the most exquisite offerings you will ever find. The platform is the best place to buy diamonds as they also offer free overnight insured shipping and free resizing.

Are Diamonds a Good Investment?

Besides their sentimental value, people also purchase diamond jewelry as an investment to store their wealth. For centuries, buying natural diamonds have been an excellent way to accumulate wealth as the limited supply of mined diamond meant that the available diamond would hold its value well. However, with the introduction of artificial diamonds, the fragile balance might seem upset due to the increase in supply. Many people have recently come out to claim that diamonds are no longer attractive investments. Well, that isn’t accurate.

Contrary to popular opinion, lab-grown diamonds have not saturated the market. Instead, they have democratized quality diamonds whereby they meet the demand of consumers who can’t afford mined diamonds. Natural diamonds are still as rare as before, which means they hold their value as well as earlier. Therefore, if you are buying diamond jewelry also as an investment, options with mined diamonds are best for you. On the other hand, while artificial diamonds don’t hold their value as impressively as mined diamonds, they are not as costly.

As of 2021, the global diamond market value was estimated to be $98.3 billion, with artificial diamonds making up about $22.3 billion. The diamond market value is estimated to grow to $140.1 billion by 2032, with lab-grown diamonds making up $55.6 billion. Generally, the demand for artificial diamonds is expected to more than double over the next ten years. This means that you can still be able to recoup most of your money even if you opt to purchase artificial diamonds now.

Tips for Buying Diamonds on Rare Carat

Over the last five years, I have purchased my diamond jewelry from Rarecarat.com. The site has always been easy to navigate to find the best deals. Moreover, they provide all the crucial information about every diamond cut and jewelry at a glance. Here are tips to aid you in finding the best diamond for you on Rarecarat.com.

Compromise Carefully

Diamonds are expensive; if you are a first-time buyer, they might be pricier than expected. It’s essential that you set a budget for what you can afford. You might find the diamonds that impress the most are out of your price range – don’t fret. You will be better off going for a lower carat weight of the same diamond cut. This means you can still get the diamond of your dreams but still smaller.

Cut Quality is King

Looking at Rare Carat’s offerings, there’s no doubt that all their diamonds are superbly cut. However, some cuts are more intricate, thus commanding a higher price. It’s always best to go with a more sophisticated cut while keeping in mind the other “Four Cs” – clarity, cut, and carat.

Consider the Ring Style

If you are picking out an engagement ring, it’s easy to get carried away by the centerpiece. However, the engagement ring is a ring, so you should also think about the ring design. A diamond-studded ring design with several veins and a centerpiece will definitely cost more than just a vein and a centerpiece.

Need Help Picking the Right Diamond?

Buying diamonds is a massive move, and rarecarat.com understands that you might benefit from some professional help making the right decision. That’s why they have robust customer service ready to help you pick the right diamond for you, your beloved, and your future. Visit Rarecarat.com today.

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