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I guess De Beers must be selling the synthetic diamons with a much smaller profit margin? A couple of years ago, makers of synthetic diamond jewelry said they w
by vilhelm_s 8y ago
I guess De Beers must be selling the synthetic diamons with a much smaller profit margin? A couple of years ago, makers of synthetic diamond jewelry said they would cost about 60% of natural ones ("Baruch says savings may be as high as 40 percent in some cases; this is especially appealing to savvy millennial shoppers." --https://www.racked.com/2016/6/14/11872830/lab-grown-diamonds-synthetic https://www.racked.com/2016/6/14/11872830/lab-grown-diamonds...), and now Lightbox will sell them at 10% the price of natural ones.
Unlike mines you can't really establish a monopoly in vapor deposit ovens, so in the long run competition should drive down costs. It makes sense that De Beers would want to fast-forward that process, particularly since the price of natural diamonds is kindof arbitrary anyway.