Competition consistently drives down the cost of a good or service, and the same is the case with the manmade diamond market. There are many producers around the world and the constant changes in technology are accompanied by a rise in the competition too. Below is a discussion on the state of competition in the lab-grown diamond market.
How Cheaper Would the Lab Grown Diamonds Be
One method to bring the cost down is to produce loose princess cut diamond quicker. However, note that diamond creation is a scientific procedure with several physical constraints. For instance, you may have observed that you can prepare all your food easily so it does not take long to cook meals. You will most probably wind up with much more wasted food instead.
Chances are that if you hurry through the procedure of diamond creation, your jewel ends up frail and weak. As a result, a producer cannot think of multiplying their production without an equivalent change in their machines and staff. Such changes are indeed costly and new machines cost from $250,000 until the range of $1,000,000. The type of skilled workers required to handle complicated procedures of manufacturing is also costly.
The other factor that determines the degree of drop in costs for man-made diamonds, is the expense of cutting and cleaning the rough diamonds that are created. Quality cutting is very fundamental as far as a quality diamond is concerned. Indeed, you could claim that the most significant component of the 4 C’s (cut, color, clarity, and carat weight) is responsible for lowering the diamond quality.
The expense to cut a man-made jewel and a natural diamond is almost the same. This expense is a critical segment of the overall expense of production that makers normally have no power over. The facts demonstrate that simulants like White Sapphire, Cubic Zirconia, and Moissanite, are cut into a certain number of similar shapes and are traded at much lower costs. In view of that, it appears that cutting will not be such an obstacle. Note that cutting a diamond is completely different from cutting a Cubic Zirconia. Diamond is the hardest substance on earth. They require better machinery and preparation. Since these truths act as natural obstructions, lab-made diamonds will probably never be as cheap as the same number of inexpensive diamond simulants that are being advertised.
If you are looking for something that costs lesser, manmade diamonds are the best alternatives. The same is true if you are looking for an environment-friendly diamond.