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Blog What Do Millennials Think Of Lab-Grown Diamonds? By A Millennial

bcmacdonald

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bcmacdonald published a new blog post.
If you're reading this and were born between 1981 and 1996, then you're considered a millennial. Millennials, also known as Generation Y or Gen Y, and are the demographic cohort following Generation X and preceding Generation Z. This blog post is primarily focused on the increased adoption of lab-grown diamonds, especially amongst...

Continue reading the Original Blog Post.
 

Garry H (Cut Nut)

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Great stuff Bianca,
However you are biased :)
1. You are South African, and South Efricaans love natural diamonds :dance:
2. You're a girl and girls (mostly) love the idea of their man suffering a bit - especially when it comes to spending money on them :appl:

But I agree with you

And to start some discussion:

SHOULD MAN (OR WOMEN) MADE DIAMONDS BE PRICED BASED ON THE RARITY OF NATURAL DIAMONDS, OR AS A MANUFACTURED PRODUCT SHOULD THEY HAVE THEIR OWN BRAND ASSOCIATED QUALITY VALUE?
 

bcmacdonald

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Thank you for taking the time to read my blog post @Garry H (Cut Nut) I can't deny that we as South Africans love natural diamonds, in fact, there's no question about whether we should even consider LGs. But this is targeted at American millennials who have LGs at their disposal. So, to answer your question, LGs should have their own brand associated quality value.
 

oldminer

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It is going to be a difficult push to make something manufactured specifically to be virtually identical, or Just like, a competing product, or a non- manufactured product, to find a Brand identity that has any major influence. If Tiffany sold a line of lab diamonds, they would immediately gain such an identity, at least at the time of their sale, but what beyond a laser inscription or nice packaging is the attention getting actual difference from all other diamonds?

I think lab diamonds are being successfully marketed now. Competitors are falling all over themselves trying to get their product sold. Mostly it is a prices competition. There is a lot of be room for a wider selection of cuts, colors and clarities to be produced. Maybe that zone will get some Brand identity attempts. When the market for second hand lab diamonds develops more, there will some fantastic "bargains" to be had, too.

Thanks for the great article. It is thought provoking and timely.
 

oncrutchesrightnow

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It’s surprisingly hard to find articles like this, notwithstanding a lot of posts on PS are hinting that the LGD market has exploded. Maybe millennials are genuinely happy with their LGDs but don’t want to post about it online because someone will judge them for not getting an ancient diamond.

I love reading @Garry H (Cut Nut) ’s posts so I vote for keeping LGD prices tied to ancient diamond prices. That way the discussions will continue. :) Serously the science discussions and consumer psychology insights have been certifiably fun to read.

IMHO @Rhino has done a fantastic job of marketing LGD under the AV and/or DG names. I was so impressed with his LGD that I bought an ancient diamond from him, too, and will save up for another LGD in the future. If he didn’t sell LGD I might never have bought from him because I did not want to pay the double premium for cool cut and >1 carat. So he made two sales instead of zero and will probably get a third.

There are people who would do the same thing with Tiffany or WF. Think of all the WF doubters who would never pay the ancient diamond ACA premium but would spend a little to try a LGD ACA. When they see how sweet the light return is in real life they will not want anything inferior.
 

Garry H (Cut Nut)

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It is going to be a difficult push to make something manufactured specifically to be virtually identical, or Just like, a competing product, or a non- manufactured product, to find a Brand identity that has any major influence. If Tiffany sold a line of lab diamonds, they would immediately gain such an identity, at least at the time of their sale, but what beyond a laser inscription or nice packaging is the attention getting actual difference from all other diamonds?

I think lab diamonds are being successfully marketed now. Competitors are falling all over themselves trying to get their product sold. Mostly it is a prices competition. There is a lot of be room for a wider selection of cuts, colors and clarities to be produced. Maybe that zone will get some Brand identity attempts. When the market for second hand lab diamonds develops more, there will some fantastic "bargains" to be had, too.

Thanks for the great article. It is thought provoking and timely.
Swarovski Dave - they will kill it!
 

Garry H (Cut Nut)

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I love reading @Garry H (Cut Nut) ’s posts so I vote for keeping LGD prices tied to ancient diamond prices. That way the discussions will continue. :) Serously the science discussions and consumer psychology insights have been certifiably fun to read.
Do not throw away the crutches, I am sending someone to knee cap you!
 

Garry H (Cut Nut)

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Armed with diamonds? Give me a second to put on safety goggles and get a shopping bag.
You would be better off with a jade or nephrite tipped spear or sword than diamond ones
 

yssie

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I strongly recommend anyone interested in this topic read the two articles listed at the bottom of this blog - also linked below. Both are authored by @John Pollard. They are clearly-constructed, comprehensive, and educational resources:
 
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PrismBaby

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Here in Long Island, New York, I am finding mainly young (millennials, a few gen Zs) couples beginning their engagement ring journey, becoming more interested and asking about without me even mentioning them. I've experienced a few different scenarios play out. Either it being the girl being open to it and the guy wanting to be 'old fashioned', vice versa.. or both partners being open to it and then the accompanying MIL freaking out about it. o_O

It's interesting to peoples varied reactions to them!
 

Rockdiamond

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I got drawn into Lab Grown Diamonds because people were asking for them.
Once I started really getting into them- and checking out the way they look...I was sold. I see the value.
There are certain similarities to Natural Diamonds in that someone will always claim to be cheaper. And they very well might be.... again, just like Natural Diamonds, there are some questionable stones out there that will sell cheap- and of course, there's already bait and switch sellers advertising super low prices on stones they can't possibly obtain.

SO I was talking to my wife
"Honey, if you want a large stone, I'm getting you a Lab grown!"

"NO WAY!! I only want natural"
So there you have it.
It goes both ways.
 

caolsen

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Great stuff Bianca,
However you are biased :)
1. You are South African, and South Efricaans love natural diamonds :dance:
2. You're a girl and girls (mostly) love the idea of their man suffering a bit - especially when it comes to spending money on them :appl:

But I agree with you

And to start some discussion:

SHOULD MAN (OR WOMEN) MADE DIAMONDS BE PRICED BASED ON THE RARITY OF NATURAL DIAMONDS, OR AS A MANUFACTURED PRODUCT SHOULD THEY HAVE THEIR OWN BRAND ASSOCIATED QUALITY VALUE?

The author is NOT a girl, she’s an adult woman. What a sexist, outdated load of drivel. Notice how it’s a man, not a BOY, spending the money.
 

Cerulean

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Almost every millennial I know either bought an MMD, moissy, or non-diamond e-ring (sapphire mostly)...some of my friends just bought nice wedding rings

Granted, that may have a lot to do with my social circle, many of them are "nerds", artists, or not American....or just Americans with loads of student loan debt
 

Garry H (Cut Nut)

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The author is NOT a girl, she’s an adult woman. What a sexist, outdated load of drivel. Notice how it’s a man, not a BOY, spending the money.

Sorry, it was not intended that way. I know her and have worked with her. I am old enough to be her grandfather and meant no disrespect. Was a fun post.
Please do not be offended.
As old farts go I have a predominately female work force of very talented and clever people.
 

caolsen

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Sorry, it was not intended that way. I know her and have worked with her. I am old enough to be her grandfather and meant no disrespect. Was a fun post.
Please do not be offended.
As old farts go I have a predominately female work force of very talented and clever people.

Thank you, Gary. The context of your friendship notwithstanding, it’s systemic and pervasive comments that mean women don’t have equal pay, equal rights or equal opportunity because we are seen by men, from so early on, as lesser. Boys who grow up to be men who are surrounded by comments, ‘made in jest or fun’.

As folks who obsess about the smallest of details on a stone, reject a diamond because of a fraction of an angle being off, or a tiny cavity, or the age of a certificate, we should try to hold our language when it comes to equality in equally high regard.
 

LLJsmom

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Please can PriceScope make this important correction? In the example provided with the 2 carat G stone, the lab stone was 65% cheaper than the mines diamond. The example showed $7000 as the price of the lab stone and $20,000 as the price of the mined stone. $7,000 is 35% of the price of the mined stone, NOT 35% cheaper. It’s the only percentage provided and stands out in the mind of readers so it’s an important piece of data that needs to be correct. Thank you.
 

oncrutchesrightnow

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Here in Long Island, New York, I am finding mainly young (millennials, a few gen Zs) couples beginning their engagement ring journey, becoming more interested and asking about without me even mentioning them. I've experienced a few different scenarios play out. Either it being the girl being open to it and the guy wanting to be 'old fashioned', vice versa.. or both partners being open to it and then the accompanying MIL freaking out about it. o_O

It's interesting to peoples varied reactions to them!

That’s interesting. Especially the MIL. Stories welcome…
 

bcmacdonald

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Please can PriceScope make this important correction? In the example provided with the 2 carat G stone, the lab stone was 65% cheaper than the mines diamond. The example showed $7000 as the price of the lab stone and $20,000 as the price of the mined stone. $7,000 is 35% of the price of the mined stone, NOT 35% cheaper. It’s the only percentage provided and stands out in the mind of readers so it’s an important piece of data that needs to be correct. Thank you.

Thank you for that valuable comment @LLJsmom I have made the edit.
 
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