Diamondcode.com.au Blog

Thank You, De Beers

Posted in: Product News

With the impending launch of De Beers latest venture, LightBoxJewelry.com factory-grown diamonds created by the diamond giant are set to hit the market by storm at market regulating prices this spring. There are mixed emotions throughout the diamond industry with many feeling blindsided by a company they have trusted and relied on heavily, while others feeling this is a positive step towards protecting the wonder of natural diamonds.

Created in their Element Six Innovation Centre, not far from Oxford UK, the process recreates the pressure and temperature needed to form diamonds of the same chemical and structural composition as the real thing. However, this process only takes a few weeks in a factory rather than billions of years far beneath the earth’s surface.

In the past, synthetic diamonds have been priced as a discount off natural diamond prices when they are clearly two different products with a different pricing structure needed. LightBox Jewelry has set a new benchmark in synthetic diamond pricing at US$800 per carat for white, pink and blue diamonds in Round and Princess cuts. This means you can buy a 0.50ct for US$400 and a 0.25ct for US$200 plus applicable country taxes. LightBox Jewelry has also simplified the pricing of their designs at US$100 for sterling silver and US$200 for 10K gold and will be sold initially through their e-commerce platform.

We acknowledge that there is a place on the market for both natural and factory-grown diamonds, however this new venture creates a recognized divide in pricing between the two products and provides clarity where there has been much confusion in the past. So to De Beers we say thank you. Thank you for protecting our beloved natural diamond industry from synthetic alternatives. But also thank you for creating a place for those individuals inclined to purchase a quality lab-grown diamond to do so at their true price.