They’ve been the biggest giant in the diamonds industry for decades. Every year, they mine around 35 million carats of diamonds, which is estimated to be worth 5.8 billion dollars. And that’s a low estimate! They made diamonds the must-have engagement ring gem they are today. And soon they’ll be growing them in labs, too. That’s right – De Beers is adopting synthetic diamond jewelry, and one month from today, you’ll be able to buy them!
De Beers has been a big player in the diamond industry since the 1800s. Ever since their rapid rise to power, they’ve dominated not only the diamond market, but the world market. That being said, for years they’ve refused to sell anything that didn’t come out of the ground. That is, until they made an announcement late last May. Their new project – Lightbox Laboratory-Grown Diamonds – will not only sell synthetic diamonds and jewelry, but they’ll offer stones that cost as little as $200 per quarter carat!
What are we talking about, again?
For those of you unfamiliar with what synthetic diamonds are, here’s the process in a nutshell:
So what’s on the menu?
Lightbox plans on selling more than just the gems. Necklaces and earrings are planned to be on the catalogue, too. The website boasts diamonds in blue, white, and pink hues, all under the same price tag of $800 per carat. In fact, their pricing model is strikingly simple, with the cost of the setting calculated by weight of the metal. They’re working hard to live up to their motto: “We Make Buying Jewelry Easy”.
There are a few things they seem to be missing, though. There isn’t much variety to the products for sale apart from necklaces and earrings. That’s right – Lightbox’s catalogue makes absolutely no mention of engagement rings. On top of that, from what we can see from the previews, each item has a set diamond size – and nothing bigger than 1 carat. The catalogue is scheduled to open on September 1st, 2018, though, so we may see more choices become available beforehand. All the same, the reveal of Lightbox is a leap ahead for the synthetic diamond industry! I look forward to seeing what big steps are still ahead of us in 2018!
Note: This post is not sponsored by or affiliated with De Beers or Lightbox in any way.