This is actually insane!
Ever since the gaining popularity of lab-grown diamonds in the market 4 years ago, the effect is highly noticeable. You can see it’s influence in the natural (Earth-made) diamonds everywhere.
From the price drop in natural stones, to the ever growing mass of lab-grown diamond jewelry (rings, pendants, earrings, bracelets), the market, stores, advertising, and buying habits have changed.
How much?
Well, I decided to look back 10 years ago (posted on July 16, 2013: Loose Diamonds for Sale), I was actually quite shocked.
Shocked when I compared the prices.
I looked at one stone then, and the exact same quality of stone now:
SI1, F, 1 Carat, Triple Excellent
A great quality of diamond, eye-clean, white, with excellent grades in cut, polish, symmetry, with no fluorescence… And back then, 10 years ago, that stone was selling for: $6,580.
Today, when I plug that exact stone quality into the James Allen search engine, it now is selling for: $3,680.
Take a peek:
That’s a price difference of $2,900.
Crazy, eh? That’s a price drop of 43% in natural diamonds. Granted, this is comparing one single stone (all stones and carats may vary due to popularity and rarity), but still, I knew diamonds have come down in price, I just didn’t realize how much because it was a gradual drop in price.
43% is INSANE!
This also means, you can buy a much bigger diamond, for that same money. Looking at SI1, F, Triple Excellent Diamonds now, you could get yourself a 1.20 carat diamond for $6,580-ish (see this 1.20 carat diamond here).
And, this is even crazier…
If you considered the alternative, getting yourself a lab-grown diamond (which is a real diamond made in a laboratory), that same stone; SI1, F, Triple Excellent Diamond would now cost you just: $1,250.
So is it affordable to buy diamonds now? Absolutely. It’s the best time in our entire existence.
I say, enjoy the lower prices on natural stones, and take advantage of lab-grown (they are absolutely identical in every way). Because the diamond market could change at any given moment.
Will the prices continue to plummet?
No one truly knows, unless you could predict the future. Let’s see what the next 10 years bring…
Cheers! :)