The prices of synthetic stones have been eroding rapidly [1] as more makers come online. I'm aware of two factories ex-USA, one with ~700 CVD systems, the other

The prices of synthetic stones have been eroding rapidly [1] as more makers come online. I'm aware of two factories ex-USA, one with ~700 CVD systems, the other with ~900 systems. Each system yields raw material for ~25 1+ct finished gems every two weeks. These two facilities alone can produce about 1.6 million 1ct finished stones/year. In the 1-2ct range, naturals can't compete anymore on price. In the 3+ct range, Asian markets are still very strong for naturals. I think that will persist, as natural diamond reserves are in decline [2] and the cachet of natural vs. synthetic is particularly strong in some cultures. [1] https://fortune.com/2023/09/03/diamond-demand-falling-lab-grown-stones-de-beers-cutting-cutting-prices/# https://fortune.com/2023/09/03/diamond-demand-falling-lab-gr... [2] https://www.fcresearch.org/the-last-diamond-unearthed-the-countdown-is-on/#:~:text=At%20present%2C%2040%20mines%20worldwide,be%20affected%2C%20with%20no%20exceptions https://www.fcresearch.org/the-last-diamond-unearthed-the-co....