As a licensed gemologist and as a jewelry appraiser, I get asked this question A LOT: Are lab-grown diamonds good or bad?
As in my previous blogs, I discussed with you the merits of lab-grown or synthetic stones. They’re neither good nor bad. It all boils down to DISCLOSURE; customer awareness. It’s when false representations are made to the disadvantage of the customer that gets to me.
Now, as a pawnshop operator, here’s where I have to draw the line. I see jewelry as wearable investments and, as with any other kind of investment, I should be able to liquidate or convert that investment to cash. At the very least, I should be able to use the jewelry as collateral to secure a loan. How will I now value lab-grown diamonds for loan purposes? Will a creditor even accept lab-grown diamonds as collateral?
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Lab grown diamonds are definitely cheaper than their natural counterparts, but they can still cause a small dent in your wallet. They’re 40% cheaper. Instead of buying a natural diamond at $10,000 per carat, the lab grown counterpart will cost you $6,000.
As of writing, there is no data available in our industry for second-hand market prices for these types of stones. So if someone were to come to my store to pawn lab-grown diamonds, I wouldn’t accept them at this point in time, because I would not know how to price them for loan purposes. It’s all “wait and see” for me at this point.
The views I have expressed in this particular blog are mine alone. I am not here speaking on behalf of my industry. As always, I welcome a respectful conversation should you have a varying opinion on the subject matter.
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