Editor’s Note
As traditional gold and diamond jewelry become less accessible due to rising prices, lab-grown alternatives are gaining traction in markets like Ratlam. This article explores the shift toward more affordable options during the festive season.
With gold prices soaring globally, gold and natural diamond jewelry are increasingly moving beyond the budget of many during the festive season. In this scenario, affordable alternatives like lab-grown diamond jewelry are available for customers. Particularly in Ratlam’s famous Sarafa Market, the demand and availability of jewelry made from lab-grown diamonds have been notable these days. Lab-grown diamonds are not real diamonds, but their sparkle and nature are similar to real diamonds.
An average person cannot tell the difference between real and lab-grown diamonds. Only diamond experts and lab tests can identify the difference. It is available at about 25% of the price of a real diamond, making its jewelry affordable for the common people.
Lab-grown diamonds, i.e., diamonds prepared in a lab, are trending in the diamond and jewelry market nowadays. Like natural diamonds, they are also made from carbon. However, while natural diamonds take millions of years to form beneath the earth, lab-grown diamonds are ready within weeks or months. They are made in the lab from graphite, where high pressure and temperature are maintained to create the diamond. Alternatively, diamonds are also made in labs using Chemical Vapor Deposition (CVD) technology.
The structure and sparkle of these diamonds are similar to natural diamonds, but their price can be 50 to 60% lower than real diamonds. A common person cannot distinguish between lab-grown and real diamonds. It can only be identified in a modern lab. The lab that manufactures it provides certification, where a certificate is issued for each manufactured diamond.
Goldsmiths in Ratlam are now designing and manufacturing jewelry using lab-grown diamonds and 18-carat gold.
Rajesh Soni, associated with the lab-grown diamond jewelry business, says that regarding its advantages, customers get affordable jewelry with the sparkle of diamonds, which easily fits their budget. However, there are also some disadvantages. Lab-grown diamonds have lower resale value. Additionally, cases of fraud in the name of lab-grown diamonds keep emerging. According to Rajesh Soni, every lab-created diamond has a lab test certificate, which is issued only by testing labs in Surat and Mumbai.
Nevertheless, for customers waiting to buy jewelry within their budget during the festive and wedding seasons, lab-grown diamond jewelry can prove to be a good option.
