BGD enters lab grown market

[Double E]

Just realised BGD now sells LG diamonds. Your thoughts?

 

[tyty333]

I assume its a business decision. If Millenials are not so much into Earth-mined diamonds
and find lab stones more palatable then businesses have to decide whether to jump on board
or not. Some will choose to and some will choose not to. I guess I don't have feelings either
way. I think they should continue to sell well-cut/Ideal stones whether Earth-mined or lab-created.

 

[lovedogs]

I would be thrilled if they figured out a way to offer their quadex cut in LG.

 

[dk168]

Supply and demand, a sale is a sale, etc. etc...

Steady profits in smaller sales can outweigh just one sale in months for a single big ticket item.

Personal opinion and all that.

DK

 

[Karl_K]

A little shocking but not surprising given market conditions.
Wish them the best with them.

 

[Double E]

I have nothing against LG, just wonder is this contradictory to BGD’s direction？
I am also surprised tbh.

 

[ItsMainelyYou]

It's just a smart move. Younger people's values are shifting and the societal pressures of expensive earth mined+ x months salary= true love are waning. It's just not a priority for many of them. The trend is becoming the norm. Why pay more for the same material?


* I'm a 40's but I would only buy lab for modern cuts and will buy lab if they start cutting warm material in quality old cuts. It makes better long term fiscal sense, especially as it holds less/no value as investment.

 

[WillyDiamond]

A great business decision on their part. I would not be surprised to see other PS vendors follow suit. Smart for BGD to get a jump on things. I wish Brian and Lesley the best.

 

[Alybetter]

Speaking as someone middle-aged, long married and able to afford a quality natural diamond, I think it’s great that more trusted, quality-driven vendors are jumping on this train. It’s a smart business decision if the demand is there, and clearly it is.
My mindset isn’t rooted in ethics or environmentalism, (although those are nice gravy - albeit somewhat dubious), it’s simply a matter of Why Pay More? Why stop at an eye-clean F color 1 carat superbly cut natural diamond when I can get a 2 carat MMD with the same specs (for far less money) that’s virtually indistinguishable from the real McCoy? Why spend my entire lump of disposable income on a single natural stone when I can get a 3 stones for a pendant and matching studs? It’s getting more for my money, and I’m always all about that. And, the best part (in my opinion) is the erosion of having to sacrifice on color or clarity grades in order to get the desired carat size. Love it.
I’ve purchased 5 F color MMD in the last year, and each one has been beautiful, Admittedly one was cut awfully and right back to the vendor it went, but the color and clarity and price were fantastic.

 

[Ibrakeforpossums]

I about dropped my teeth when I saw the BGD ad in my email this morning. The last bastion? Probably not.
In a recent JCK interview Beth Gerstein said lab grown diamonds have expanded the market. Time will tell if it's only expanding in that direction.

 

[oncrutchesrightnow]

I think yay. Hope to see pics soon.

 

[monipod]

This is awesome and helps give lab stones the credibility it needs to stop being thought of us a compromise. People will still want earth mined stones either because they can afford them, or they have a romantic notion of mined diamonds being a gift from nature. The rest of us simply love the characteristics of diamonds, mined or lab. I hope more ideal cut vendors will start using lab roughs.

 

[tkyasx78]

It is a smart move. While an earth mined diamond may or may not always be preferable for an engagement ring, lgd allow customers to buy a lot more than a one time purchase.
Engagement rings are great but most women only really “need” one.
With a lgd people can now easily add custom pieces in things BGD can sell multiples of to those same customers. Studs, dangling earrings custom diamond necklaces, rhr, the list goes on. With a price point between 3 and 8 thousand for a good sized lab stone they will have repeat satisfied customers. Customers who can drop 25-40k multiple times a year are no where near as common as those who can do 5k 2 or 3 times a year. More business also will increase word of mouth from the customers friends who can also now afford diamonds without a strain on the budget that are big enough to be seen and admired from across a large room.

Way to go! I look forward to seeing what creations come!

 

[madelise]

...If Millenials are not so much into Earth-mined diamonds and find lab stones more palatable...

Millenials have long gotten engaged and no longer need stones. It's the Gen Z now that are into lab stones at an intense rate in comparison to us oldies Millenials!

 

[Obscura]

Oh we still need stones! The hunger never ends. Lol.

 

[holeydonut]

I don’t think this is a binary thing… I think there’s a place for someone to have both lab and real.

IMO, the engagement ring will likely retain a skew toward “natural” just because of the aggressive marketing and peer pressure to have a guy show his ability to throw money on an engagement ring.

But to me, accessory pieces like pendants and earrings seem to be more likely candidates to be lab grown.

Either way, more selection is always more better right?

 

[Voldemort]

I think it’s a smart decision, it gives people the option of both. Volume is important to any business, right?