What’s the fuss about?
Diamonds have had a long, captivating history filled with ups and downs. First found in ancient India, diamonds quickly developed a close relationship with humans because they were extremely rare. Over time, diamonds have developed into the societal symbol of love, beauty and even status. On the other hand, we are now seeing the rise towards alternatives of mined diamonds. These are gemstones made from cutting edge technology in a lab and include stones such as Moissanite and Lab Grown Diamonds (LGDs). But what are the differences? Which one is better? And most importantly, which one should you buy?
The Pricetag
Though once incredibly scarce, diamonds were quickly found to be abundant in certain parts of the world like India, South Africa and Belgium. However, the De Beers Group quickly formed a large monopoly in the 20th century and controlled about 80% of the world’s diamonds at their peak. Although they had an ample amount of diamonds, De Beers artificially limited their supply, making diamonds much more scarce than they actually were – this explains a mined diamond’s wallet-breaking pricetag.
On the other hand, mined diamond alternatives such as Moissanite and Lab Grown Diamonds (LGDs) are much, much cheaper than a traditional diamond. Whilst one carat of a premium quality diamond would be priced at $8000, a similar quality diamond alternative would be between 30% – 70% cheaper. Thanks to these alternatives, consumers no longer have to follow the unreasonable rule of saving 3 months’ salary to show their true love to their significant other.
The Wider Impact
Marketing campaigns orchestrated by the biggest diamond players can hide the dirty reality behind diamonds. Some mined diamonds, especially ones originating from Western Africa, are obtained through war and conflict, giving rise to the name blood diamonds. This gut-wrenching term refers to the lives lost due to the malicious parties’ demand for mined diamonds.
In addition to blood diamonds, there are significant environmental concerns associated with diamond mining. These include the harmful impacts of pollution and deterioration to nature, but also the poor conditions that miners have to endure. For this reason, mined diamond alternatives prove to be a substitute that is ethically correct, sustainable, and greener.
The Verdict
It is clear that a gemstone which doesn’t break the bank and is better for the world should be superior to one that is pricey and problematic. Though this fact isn’t common knowledge at the moment, slowly but surely, modern society will also come to this same conclusion and realize the true reality of natural, mined diamonds.
