Diamonds have always been associated with love that is planned to last forever and this is seen in the 1.5 carat engagement ring is also one of the favorite tendencies of couples, who are going to make a proposal. However, with the growth of laboratory-grown diamonds, diamond shopping has taken a different face. First, it has brought to the market an ethical form of diamonds apart from mined ones, second, it has also facilitated in changing the paradigm of the market by incorporating the aspect of costs. In this article, we will examine the impact on the price of a one carat diamond produced through laboratory methods. Carat diamond and what it means to the people who want to shop from Rare Carat and other reputable jewelers the 1.5 carat diamond.
Understanding the Basics: Natural Diamond vs Lab Grown Diamonds
First of all, admitting we are going to discuss the price-making factors, it is crucial to clarify what distinguishes them and what they are – natural and lab-grown diamonds. Minelike natural stones are created in the Earth’s crust in billions of years under high pressure and manners of heat. As for the lab-grown diamonds, they are cultured in a lab and with the help of state of the art technologies imitating the processes in the earth’s core. It is, however, important to understand that all the differences between lab created and mined diamonds stem from their origin, but in terms of their chemistry, physics, and the way that light interacts with them, they are indistinguishable.
The Pricing of a 1.5 Carat Diamond: Traditional Factors
Traditionally, the price of a diamond is determined by the famous “4 Cs”: The important four Cs are Carat weight, cut, color, and clarity. A 1.5 carat diamond is especially valuable because of its size and thinness of the crown. But the cost of such a diamond can differ greatly depending on the other three C’s. For instance, a 1.5 carat diamond with an excellent cut, high color grade (e.g., D-F), and flawless clarity (e.g., IF or VVS1) can command a premium price.
Traditionally, natural diamonds are the most common type of diamonds used in engagement ceremonies since they were seen as an investment because of their scarcity. Nevertheless, there is a change in this perception because cultured or man-made diamonds are entering the market.
The Impact of Lab-Grown Diamonds on Pricing
The culture of creating lab-grown diamonds has interfered with the traditional market of diamonds, the most important of which is the price issue. Of all the consequences, perhaps the most profound is the difference in the price of natural and synthetic diamonds. The lab-grown diamonds are on average 30-40% cheaper than the mined or natural diamonds. This difference is even much sharper when the carat weight is higher.
This is the case with a carat engagement ring; the difference in prices could be quite huge. While an aphiretal 1.5 carat diamond of its quality is likely to cost you ranging from $10000 to $20000 or more, you will find a lab grown 1.5 carat to cost you $6000 to $12000. This has made the lab-grown diamonds to be popular among the buyers who would wish to have large diamonds without necessarily having to stretch their pockets.
Market Perception and Consumer Behavior
Lab-grown diamond has also had an impact on the behavior of consumers of the product. It is for this reason that many buyers have been inclined to buy a larger or a higher quality lab-grown diamond at the same price of a smaller or lower quality natural diamond. This change in consumer behavior has forced a shift in the natural diamonds price when jewelries post their prices in the markets to adjust for competition from the above- identified stones.
Consumers who shop from Rare Carat or any other store majority of the time are offered with both natural and cultured diamonds. The difference in pricing structure and due to the online availability of both the types of diamonds has made it easier for the customers to make decisions as per their own parameters such as budget, ethical standard or the look and feel of the diamond.
Ethical Considerations
Along with the costs, the element of ethics also fired prominently in the decision making. Manufactured diamonds have been promoted as sustainable and blood-free imitations of the natural diamonds. This appeal to ethics when used into consideration with the cost implication has pushed the demand of the lab grown diamonds hence putting a pressure on the prices of natural diamonds.
The Future of Diamond Pricing
It is believed that because of technological enhancements in producing certified lab-grown diamonds, the price difference between natural and lab-grown diamonds will expand in future. It is likely to lead to a continued reduction of prices of natural diamonds, especially 1.5 carats diamonds because of the changing market with lab created diamonds.
People, who are interested in buying products from Rare Carat or any other shop, it is highly important to consider these market forces. In the final analysis, whether one’s choice is a natural diamond or a lab-grown diamond is an expression of one’s values and preferences. In any case, it is impossible to argue that lab-grown diamonds caused a major shift in the overall diamond market, and affected the demand for not only the high-value 1.5 carat engagement rings.
Hence, lab grown diamond is a new form of diamond which has introduced a new dimension or market in the world of diamonds of affordable, aesthetic and quality diamonds that are produced in an ethical manner. With time, consumers’ demands and hence the price for 1.5 carat diamonds will also change and this makes it an excellent moment for anybody willing to purchase an engagement ring.
