Today, diamond buyers have more options than ever when it comes to selecting the perfect diamond for their perfect person.
Ever since global diamond major De Beers coined the slogan “a diamond is forever” in 1947, the stunning gems have become synonymous with the ultimate display of love.
Six years later, when Hollywood bombshell Marilyn Monroe sultrily sang that “diamonds are a girl’s best friend,” the role of diamonds as a pop culture symbol of love, devotion and opulence was cemented.
It is now 67 years later, and diamonds still mean all that and more.
When it comes to selecting the perfect diamond for their perfect person, diamond buyers today have more options than ever before, including more variety in stones and price points.
For those looking to showcase their love in the most unique and exclusive way, fancy colored diamonds are the answer. They are also one of the few gifts that are expected to appreciate in value as they age.
Unlike their white counterparts, fancy colored gems come in colors like vibrant pinks, deep yellows and radiant blues. These are among the scarcest diamonds available, and their often exorbitant price tags are a reflection of that rarity.
If a rose-colored stone symbolizes love and Valentine’s day for your loved one, then a fancy pink diamond is the ultimate gem for you.
The exclusive warm-toned pink diamonds are expected to gain value in the coming years as Rio Tinto’s (ASX:RIO,NYSE:RIO,LSE:RIO) Argyle mine in Australia, home to the world’s most beautiful, rare and coveted pink diamonds, is set to close in 2020 after 36 years of operation.
When the mine closes, global supply of the vibrant pink sparklers will be cut by an estimated 90 percent.
“Argyle pink diamonds have had at least a 400 percent increase in value in the last 18 years,” said Yaniv Marcus, head of the Diamond Investment and Intelligence Center. “(The mine closure) will push prices even higher for pink diamonds in general, and most likely they will catch up to blue diamond prices.”
For those who are looking for an equally meaningful way to express devotion, but with a smaller price tag, lab-grown diamonds are the way to go.
While man-made diamonds are hardly new — 1955 is the first recorded instance of gems being manufactured — in the last year, the market for the lab-grown diamonds has ballooned, thanks in part to De Beers launching one of the first exclusively lab-grown jewelry lines through its subsidiary Lightbox.
The stones, which are visually identical to their mined counterparts, are a fraction of the cost and are great for those who want to make a statement without breaking the bank.
Like it did for natural diamonds in 1947, the marketing team at De Beers developed a slogan that speaks to the versatility lab-grown gems offer: “For moments, not milestones.”
“This is based on a lot of the consumer research that we’ve done over the last couple of years trying to understand what consumers think of lab-grown diamonds and how it compares with natural diamonds,” Steve Coe, general manager of Lightbox, told the Investing News Network.
“(They are good for) occasions where a diamond might say too much or certainly be too expensive,” said Coe. “For example, a gift for a teenage daughter’s sweet 16 or a gift for a best female friend.”
Lab-grown diamonds sell for approximately US$800 per carat, making the gems incredibly affordable compared to mined stones, which can cost thousands and become more expensive the rarer the gem. On the lower end, jewelry with fewer carats can sell for as little as US$200.
The affordable price point makes man-made diamonds an option for self-purchase as well.
All of these options have made diamonds accessible to a much wider audience. Whether you purchase a lab-grown diamond for your galentine or splurge on a fancy colored stone for your diamond anniversary, diamonds are the ultimate way to express what words can’t say.
This is an updated version of an article first published by the Investing News Network in 2019.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.