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Articles from DIAMONDS BY TYPE - SYNTHETIC / LAB-CREATED (99 Articles)

Synthetic diamonds prices fall 60 per cent

The market for synthetic diamonds has seen its margins slashed in the past six months, with the wholesale price for the gems falling by up to 60 per cent, according to an analysis by De Beers.

The decline comes after the company began selling synthetic stones to consumers in September 2018 through its Lightbox brand, which sent shockwaves through the industry.

But while the wholesale price drop would have some running scared, De Beers CEO Bruce Cleaver said last week, “The margins that were out there are not sustainable,” adding that he expected prices to continue to fall.

However, he said synthetic diamonds would not affect the price of natural stones as the two products are differentiated in the market.

De Beers has invested in a new US laboratory to grow synthetic stones, which will be operational in 2020, and has also boosted its marketing budget for natural stones to more than US$166 million.


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Thursday, 04 June, 2020 08:02pm
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