Lab grown diamonds have become a staple in jewellers since the 1990s but have been around a lot longer than that, increasing in popularity every year. At Banks Lyon, we are delighted to offer you a wide selection of lab grown diamond engagement rings and classic diamond jewellery, like diamond earrings and necklaces.
So, if you are looking for a perfect ring for that incredible proposal or a stunning anniversary pendant, we can help. Our team of experts can advise you on every step of the way, so you will be confident that you have made the right decision.
What Are Lab Grown Diamonds?
Lab grown diamonds are grown in highly controlled laboratory environments using advanced technological processes that replicate the conditions in which diamonds are usually developed when they form in the mantle – beneath the Earth’s crust.
Lab grown diamonds should not be confused with diamond simulants. Diamond simulants like cubic zirconia and moissanite look like diamonds but are not true carbon crystals.
Diamonds can be grown in two ways. The first is High Pressure-High Temperature (HPHT) and the second is Chemical Vapour Deposition (CVD). Each process is best suited for certain sizes, shapes, and colours of diamonds.
Pictured is the Platinum 0.53ct Lab Grown Brilliant Cut Diamond Halo Ring, available from Banks Lyon for £1,700 or just £14.16 per month on 0% finance.
The Difference Between Lab Grown Diamonds and Mined Diamonds
Lab grown diamonds have the same physical, chemical, and appearance as natural diamonds, meaning they exhibit the same sparkle, so you don’t need to worry about losing the WOW
factor that comes with showing off your new diamond ring. Like natural diamonds, lab grown diamonds will vary in colour, cut and clarity; each is utterly unique.
Lab diamonds may demonstrate different trace elements than natural diamonds, but these can only be evaluated using specialised equipment. The diamonds are assessed and graded by gemological labs that certify natural diamonds using the same strict standards.
Pictured is 18ct Yellow Gold 0.70ct Lab Grown Brilliant Cut Diamond Ring available from Banks Lyon for £1,750 or just £14.58 per month on 0% finance.
Advantages Of Lab Grown Diamonds
A diamond that is lab grown is just as real as a mined diamond. They have the same physical and chemical properties, grown under the same pressure and temperature conditions, but without questionable ethical practices in some diamond mines. For example, lab grown diamonds are:
- Environmentally friendly
- Have greater affordability
- Have fewer defects
Given the affordability of a lab grown diamond, it allows for more choice. For example, more expensive colours like pink and blue diamonds may be more budget-friendly. You can also get a larger stone for less.
The Impact of Lab Grown Diamonds on The Industry
Lab-grown diamonds are becoming increasingly popular with engagement ring buyers. For example, in 2020, the lab-grown diamond market was valued at $1.6 billion worldwide. This is expected to grow by $4 billion by 2027.
Sales data for March 2022 shows that there was a 63% increase in engagement rings featuring lab grown diamonds compared to March 2021. However, within the same time limit, engagement rings featuring a natural diamond saw a 25% decrease in sales.
Synthetic diamonds cost 30-40% less than natural diamonds, and growing consumer interest in ethical diamond sourcing makes these stones a more appealing option to the real thing.
Trends In Lab Grown Diamonds
The impact of lab grown diamonds on the market is evident, as increased numbers of people are switching from naturally mined stone to the more environmentally friendly and affordable option.
Jewellery shops cater to the demand as 70% of millennials now opt for a lab grown diamond instead of its minded counterpart. This change could be influenced by the rising concern about climate change.
Pictured is the Platinum 1.01ct Lab Grown Brilliant Cut Diamond Solitaire Pendant for £2,325 or just £19.37 per month on 0% finance.
Why Choose Lab Grown Diamonds?
Making that final decision on which type of diamond you want can be difficult. You want to find the perfect stone. That is why we have created some fact files on lab grown diamonds to help make that decision a little easier.
- Carat for carat, lab grown diamonds are less expensive than their natural counterpart. No matter your budget, you can expect a larger carat diamond for your money.
- A lab grown diamond will have the same lasting lustre as a natural diamond; no one will be able to tell the difference.
- There is greater certainty that lab grown diamonds have ethical origins.
So, if you are seeking the right proposal ring, we can help. Our knowledgeable and pleasant staff can help you every step of the way, so you can be comfortable that you have chosen the best choice. We can also supply you with any information you require about our lab-grown diamond engagement rings or any other items of jewellery we carry. Please contact us at any time.