Artificial Diamonds

Your wife would love receiving a diamond for her next birthday, but you are not sure if your wallet shares the same opinion? Maybe your problems are close to an end, as an article over the InnoBlog discusses.

The article, titled “Disruptive Diamonds,” illustrates how some companies are investing into a synthetic diamond manufacturing technology. Quoting the author:

Several companies, including Florida-based Gemesis and Massachusetts-based Apollo Diamonds are betting that it will be. Over the past few years they’ve improved synthetic diamond technology to the point where they can now produce gem-quality colored and even colorless diamonds. And they can do it for substantially less than it would cost to process the approximately 250 tons of ore required to find a single, one-carat, natural diamond.

What remains to be seen is whether these synthetic, or “cultured” diamonds, as producers at Apollo and Gemesis prefer to call them, are good-enough for consumers. Diamond simulants such as cubic zirconia and Moissanite still beat synthetic diamonds along the dimension most important to low-end customers: price. Will mid-tier consumers be willing to accept the trade-offs these higher quality synthetics offer relative to the real thing, gaining performance along the dimension of price for some loss of authenticity? Or perhaps synthetics have an edge along another dimension: as environmentally friendly and conflict-free?

Do you think synthetic diamonds could disrupt the market?

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