Declining Prices Boost Popularity of Synthetic Diamonds

Synthetic diamonds are gaining in popularity as their prices drop.

Natural diamonds, which have been commonly available until now, are the crystallization of carbon atoms at high temperatures and pressures deep underground. Natural diamonds are said to take billions of years to form.

Synthetic diamonds, on the other hand, are also called synthetic diamonds or lab-grown diamonds, and are created artificially through scientific technology.

Synthetic diamonds have exactly the same composition and structure as natural diamonds and are said to have the same beautiful brilliance. However, there is a big difference in price: for a one-carat diamond, the price of a synthetic diamond is about one-seventh that of a natural diamond, according to the current market price.

The price of synthetic diamonds has also had a significant impact on the price of natural diamonds, with the international trading price of natural diamonds continuing to decline, falling by about 40% over the past two years.

An increasing number of stores in the Japanese market are beginning to handle synthetic diamonds, and the market for synthetic diamonds is expected to grow significantly in the future.

Under these circumstances, jewelry secondhand dealers are also troubled by the rapid spread of synthetic diamonds.

They say that because the price of synthetic diamonds is not stable, even if they buy used diamonds, they may not be able to sell them at a high price.

Therefore, these stores use machines to discriminate between synthetic and natural diamonds. However, some diamonds are so difficult to distinguish that they may have to forgo the purchase.

Advances in science and technology are causing a major change in the value of diamonds.

(source) https://news.yahoo.co.jp/articles/9597fd15ab26a32ef9d41240edebe8b4e4587f79