Editor’s Note
This article discusses the significant price adjustments in the diamond market, driven by the rise of lab-grown alternatives. The accompanying image is for illustrative purposes only and does not depict the specific products mentioned.
![[미국=AP/뉴시스] 인조 다이아몬드의 저가 공세로 천연 다이아몬드 가격이 최근 1년 동안 40%가량 급락했다고 미국 경제전문지 포춘이 4일(현지시간) 보도했다. 사진은 스위스 제네바에서 열린 다이아몬드 경매장의 반지로 본문과 무관. 2023.09.05 *재판매 및 DB 금지](https://img1.newsis.com/2023/09/05/NISI20230905_0001356778_web.jpg?rnd=20230905102946)
According to a report by the American economic magazine Fortune on the 4th (local time), the price of natural diamonds has plunged by about 40% over the past year due to the low-price offensive of lab-grown diamonds. The photo shows a ring from a diamond auction held in Geneva, Switzerland, and is unrelated to the article.
Natural diamond prices have fallen by about 40% over the past year. Analysis suggests that the price drop is due to the popularity of relatively cheaper lab-grown diamonds.
According to Fortune on the 4th (local time), De Beers, one of the world’s largest diamond companies, lowered the price of ‘Select Makeables’, a rough stone mainly used for engagement rings, to $850 per carat (approximately 1.12 million won) last July. The price of this product was $1,400 per carat (approximately 1.85 million won) in the same month last year.
The market anticipates that prices may be lowered further.
The fact that De Beers, a brand not known for frequent discount sales, significantly reduced the price of a popular product is attributed to a decline in public demand for natural diamonds.
Price-sensitive consumers are opting for relatively cheaper lab-grown stones when choosing 1-2 carat diamond engagement rings.
Industry insiders assessed that lab-grown diamonds, waging a low-price offensive, are replacing the natural diamond market in the engagement ring segment.
The sales share of lab-grown rough stones compared to natural diamonds has surged from 2.4% in 2020 to 9.3% earlier this year. Investment firm Liberum Capital diagnosed that the sales share of lab-grown diamonds has already reached 25-35% by volume.
Meanwhile, regarding the recent price weakness, De Beers explained, “It’s a natural decrease in demand following the aftermath of the COVID-19 pandemic,” adding, “While it’s true that lab-grown diamonds are showing strength in the market, we believe the popularity of natural rough stones is not fundamentally threatened.”