Diamonds are luxurious, beautiful, rare stones that carry a heavy price tag. Diamonds have always been recognized as a valuable social object, arguable more so than gold has.
With millions of people coming online and joining the global economy, the Diamond industry is a one primed to grow alongside the population. Multitudes of entrepreneurs worldwide have been trying to enter this luxurious space at a chance to claim the unbounded fortunes. Doing so they ran into a problem, more people want more diamonds but the supply of those diamonds is radically under the rate of demand. Thus it seemed as the once unbounded fortunes quickly became in-accessible to new competitors. But, Science and business are synonymous with great fortunes, and where there is great fortune there shall be interest.
From this interest spurred the induction of a new industry, an industry to supply production. Hello, lab grown diamonds .
Traditionally, diamonds must be harvested from mines in conditions that endanger the lives of the stone hunters. These sourced diamonds must then go through a strenuous process of delivery from those unforgiving conditions, then they must be sorted, then they must be cleaned, cut, and only then distributed. Because these elements are naturally occurring and grow in unstable environments (such as mountainsides) sometimes the diamonds come out in qualities that are too low to offer consumers and therefore must be junked; rendering the effort spent finding it, lost. This brutal process incurs a huge cost, thereby obtaining crazy price tags that is thrown on the shoulders of consumers. A cutthroat environment that decides who can and who cant participate.
Entrepreneurs did not like that and turned to science for a solution. Science answered the call and proposed a more elegant solution to this mess, growing diamonds in laboratories. By recreating controlled environments in which Diamonds can flourish, they can remove the risked lives, the lost time, and the faulty products. In turn reducing the cost of production and ultimately reducing the cost to the consumer. While the process of creation and even the code name of the lab grown goodies is known as synthetic, the actual product is constructed identically to its natural counterpart. These "synthetic" diamonds are pure carbon, crystallized in an isotropic 3D form.Related: 5 Smarter Ways Of Improving Your Productivity
This then brings up the point of value. Wouldn't creating controlled diamonds ruin the industry and devalue the actual item. Yes and no. From an economic standpoint, yes with more supply the price should go down but we have to look beyond that shallow first layer and dig deeper. If demand is growing and supply remains the same then price will grow, thereby having man-made diamonds is simply a tool in mitigating uncontrollable price growth. Of course, the diamonds grown in labs are cheaper (primarily due to the removal of the previously stated problems) than regular diamonds on average by somewhere in the range of 30% on the consumers end. But that does not necessarily make them worthless.
These, also known as cultured or engineered, diamonds do not just have to come in one flavor. Actually, they are able to come in much more customized and unique ways than their natural counterparts! They can be introduced to coloration, such as the famed yellow or black diamonds. They can be shaped like Ovals, Pears, Emeralds, or the more classy Marquis's and Asscher's. Heck, when put side by side, the lab grown are essentially indistinguishable from the natural ones.
Surely, there still stands the test of time and social acceptance to say that science has yet again provided business with a permanent solution to its problems. Nevertheless, the cultured lab diamonds are already available worldwide to entrepreneurs who want to provide the product as well consumers looking to spice up their personal collections. Will you own a piece of history?