Product awareness is an essential part of the diamond buying process. Understanding and gaining adequate knowledge about the diamonds you are going to purchase is crucial for a quick buying decision.
Being well-versed will help you become more familiar. Knowing your diamond well boosts your confidence and clears your apprehensions for any purchase.
When it comes to buying lab grown diamonds, what are the factors you should consider? What do consumers think about lab grown diamonds? What are the pre-set notions about man-made diamonds? Many believe these diamonds are fake and artificial due to a lack of awareness. But they are 100% real diamonds grown in labs by replicating the diamond creation process below the earth's surface.
As of today, lab grown diamonds are on the rise and trending. According to the Gems and Jewellery Export in FY’23 until February jumped to INR 12,500 Crores, 45% higher compared to INR 8,719 Crores last year. Moreover, of the roughly 8,000 diamond polishing units in India, over 20-25% have begun polishing of lab grown diamonds and 15% polish only lab-grown diamonds exclusively.
Lab diamonds have gained immense popularity due to their technological advancements, increasing consumer awareness, and most importantly, they are eco-friendly and pocket-friendly too. Since lab grown diamonds are on the rise, here's a detailed guide that will help you make a conscious buying decision.
1. Evaluate the Quality and Carat Weight of the Diamond
The quality of a diamond depends on the raw material and craftsmanship. You need to understand the diamond's characteristics and value before purchasing. Diamond quality is determined with the 4Cs method – Color, Clarity, Cut and Carat Weight.
Color: The color grade of a diamond refers to the presence or absence of color. The less color a diamond has, the higher its grade and value.
Clarity: Clarity measures the presence of any internal or external flaws, known as inclusions and imperfections, respectively. Diamonds with higher clarity grades are rarer and more valuable.
Cut: Cut refers to how a diamond is shaped and its elements interact with light. It directly affects the diamond's brilliance, fire, and sparkle. Diamonds with perfect cut grades reflect light optimally and are highly valued.
Carat Weight: Carat weight is a measurement of a diamond's size, specifically its weight. One carat is equal to 200 milligrams. The larger the carat weight, the rarer and more valuable the diamond.
The 4Cs are a standard measure of a diamond's quality and are equally crucial for lab grown diamonds.
If you are hesitant about your purchase, you can always ask relevant questions to your jewellers to get more information to support your purchase.
2. Choose the Perfect Setting for Your Lab Grown Diamond
Selecting the suitable metal for your diamond setting is as important as choosing the right diamond. The setting of a diamond also plays a significant role in a diamond's colour, appearance and durability.
Diamonds are highly reflective; many facets of a standard round brilliant diamond and other diamond shapes act like tiny mirrors reflecting their surroundings, including the colour of the band and the prongs holding the gem. The right setting helps to protect your diamond from any damage and will make it look bigger and even more sparkling.
3. Check for Certification
How do you know what you're purchasing and its quality or value? A grading report or a diamond certificate is an expert statement of a gem's identity and quality characteristics.
This report assures you of your gem's quality with clear disclosure of the product, which contains a wealth of information and features of your specific diamond.
If you ever wish to sell your lab diamond, its value will be determined partly by its quality, which is communicated clearly in the report.
There are various reputed and independent laboratories like GIA, IGI and others for evaluating the quality of a diamond and delivering unbiased information. Such reports provide the kind of evidence that is vital for a confident purchase.
4. Review the Buy-Back Policy of the Jeweller
Like mined diamonds, buyback policies are also eligible for lab-grown diamonds. Before purchasing, it is crucial to check with the jewellers about the buyback or return policy.
Lab grown diamonds are picking up demand, especially within the millennial crowd and witnessing a huge consumer shift. There are not many jewellers who offer lab grown diamond jewellery, one such leading jewellery company, Limelight Lab Grown Diamonds, is an exclusive CVD brand producing the rarest and purest Type IIa diamonds.
At the end of the day, however, the diamond you choose should be the one that looks best on you.