As the name suggests, 'synthetic diamonds' are not natural, they are manufactured in a production facility. There has been a serious effort in recent years to, add perceived value to synthetic diamonds. Stalwarts of the glittering industry like GIA and DeBeers, have been promoting synthetic diamonds - this to further their business interests.
A quick glance at how, a synthetic diamond is made - let's keep this as nontechnical as possible. The process begins by placing a tiny piece of natural diamond, in a production device. The device is expensive and not many people know how to operate it. Conditions in the device are made to resemble, the natural environment in which diamonds are formed. The diamond is then 'formed' around the tiny chip of natural diamond, that was placed in the device.
And how much is a synthetic diamond worth, are synthetic diamonds really worth buying. We spoke to Russian diamond expert Olga Rosina - a business adviser to the Glitzkoin diamond blockchain project. In her words, '... it is marketing hype that allows synthetic diamonds to sustain higher price levels. Equipment costs are high and the techniques are not known to many, however this will change in time ...'.
Hearing about the price trend of synthetic diamonds from the Glitzkoin expert, was extremely interesting. Olga explained that, '... as recently as two years ago, the price of synthetic diamonds was very close to their natural counterparts. They were priced at just 20% to 30% lower than natural diamonds. The price of synthetic diamonds kept dropping and at this point of time, the factory made stones are worth about 70% to 80% lower than natural diamonds ...'.
Commercial interests have motivated GIA to offer certification services for synthetic diamonds. DeBeers has launched the sale of synthetic diamonds, it plans to set up a manufacturing facility for these diamonds. While there is nothing wrong in buying or wearing synthetic diamonds, doing that with the belief that they are natural diamonds or 'very close' to being natural diamonds would be inappropriate.
Olga Rosina's words offer some excellent advice, '... natural diamonds have been preferred for their natural beauty. Folklore and traditions are centuries old and would not relate to factory made stones. It takes billions of years for a natural diamond to be formed, synthetic diamonds would soon be made in a couple of days. All said and done, synthetic diamonds can never match the romance and sentiment, that diamonds created by nature can ...'.
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