For the love of diamonds
After a tough year for couples planning their dream nuptials, weddings across the globe are expected to be back in a big way. But, unfortunately, the bad news is that if you’re trying to tie the knot in 2021 or 2022, you may find it has become more expensive than you had initially bargained for.
As the industry tries to claw back the income lost during the pandemic and with more weddings taking place over the next few years, expenses and running costs have increased - forcing many companies to push up their fees to compensate.
The good news is that regardless of whether you’re holding out on the big day a bit longer or forging ahead with your plans to tie the knot this year, there’s a modern diamond that is offering couples a more sustainable and budget friendly alternative to buying their perfect diamond engagement ring - and no doubt, this extra cash will come in handy for those other expenses now running up the bill.
The ethical question
For many, the pandemic has forced them to reflect on the choices we all make every day and the impact these choices have on the lives of others and our environment. Equally, for couples looking to openly declare their love, the question of ethical and sustainable practices for mining diamonds is also high on the list of considerations now frequently made alongside decisions on the best colour, carat, cut and clarity for their diamonds. This is especially true for younger consumers, who are concerned about environmental, social, and corporate responsibility.
Despite the much-needed respite that the pandemic has gifted our natural world, the historic practices for earth-mining diamonds remain acutely problematic, with further issues over ethical and sustainable processes still at large all over the world.
The majority of natural diamonds are mined in Africa, where environmentally damaging diesel generators and extreme manual labour use extraction techniques that regularly displace parts of the land and its surrounding wildlife. Yet, for their efforts, millions of African diamond miners are still denied adequate health and safety provisions and only earn less than a dollar a day in exchange. Diamond labourers closer to home in India, namely in the Panna district of Madhya Pradesh, although extract stones more manually, tell a similar story of the challenges they face.
A new type of diamond for the socially conscious
For the socially conscious consumer looking to save some cash while still potentially opting for a bigger stone, a lab-grown diamond has become a real game-changer, offering a more sustainable and affordable alternative to traditional natural diamonds.
Despite some in the industry trying to ensure that their natural diamonds are mined and crafted with a social conscience, ethical and sustainable questions still remain key to the diamond mining debate. However thanks to the emergence of lab grown diamonds, buying an ethically sourced and created lab grown diamond engagement ring, means that socially aware couples don’t have to comprise the environment or concerns over human rights, for their love of diamonds.
Modern advancements in technology and a growing desire for more sustainable alternatives, has accelerated lab grown diamonds in popularity, giving rise to a new industry of diamond jewellers that can not only incorporate these diamonds into the chosen ring, but also manufacture bespoke diamonds according to individual styles.
What’s more, consumers are happy to learn that lab grown diamonds do not compromise on quality. In fact, they are optically, physiologically and chemically identical in composition to traditional diamond stones in every single way. The only difference is their origin, size and cost - but, lab grown diamonds beat natural when it comes to size and cost - giving consumers more carat for their cash every time.
It takes between 6 - 10 weeks to create a lab grown diamond using a diamond ‘seed’ in a highly controlled laboratory environment. The growing chamber simulates the exact conditions a mined diamond would endure deep within the earth’s surface over thousands of years. However, the big news is that these diamonds are more sustainable, and up to 40% cheaper.
Lab-grown diamonds in UK
The market for lab-grown diamonds in the UK has evolved to shoppers looking for bigger stones for less money, alongside their desire for a conflict-free and sustainable substitute to earth-mined diamonds. Prior to the pandemic in 2019, Forbes reported that the demand for lab grown diamonds had increased by 20%, whilst the earth-mined diamond market suffered a 25% decline in sales. The rising acceptance across the jewellery trade has made lab-grown diamonds more accessible to a broader group of price-sensitive consumers.
Based in London’s famous jewellery quarter, Flawless Fine Jewelry in Hatton Garden has seen demand for lab-grown diamonds growing exponentially with an upsurge in the number of consumers that are making more conscious decisions to buy a sustainable lab-grown diamond engagement ring, without compromising on the best quality and prestige, while at the same time, still saving money.
So whether you’re shopping for a more traditional style diamond or opting for a more edgy look from your carats, rest assured that you don’t have to win the lottery in order to afford one of these ethical engagement rings. They are greener and much more affordable than most mainstream diamonds, helping you to save money and still do your bit for the planet at the same time.
Yet, the best part is the ability to design and personalize your own lab grown diamond engagement ring means that everyone can find the perfect diamond ring to complement their individual style.
If you’re looking for an ethically created lab-grown diamond, find your perfect stone at Flawless Fine Jewelry.
Disclaimer: This is a company press release. No HT journalist is involved in the creation of this content.