A diamond is forever, especially when it sits on an engagement ring on your partner’s finger! Buying a diamond engagement ring is arduous and requires a lot of patience and research.
New Zealand doesn’t produce diamonds; the country solely relies on imports worldwide. In 2019, the value of diamond imports was reported to be around the NZD 40.6 million mark.
While searching for engagement rings in New Zealand, you are assured of receiving quality diamonds. In recent years, retailers such as James Allen and Walker & Hall have ensured that people in New Zealand need not worry about the quality of their engagement rings.
In recent years, there has been a disruption in the diamond industry. With advancing technology, researchers have been able to replicate natural diamonds in the lab and create them synthetically. Lab-grown diamonds are not only becoming increasingly common, but they are also rising in popularity.
So when you’re looking for an engagement ring, should you opt for a natural diamond or a lab-grown one?
Should you buy a natural diamond or a lab-grown diamond?
Despite the visual similarities, natural and synthetic diamonds are incredibly different. So, which one is better for you – a lab-grown diamond or a natural rock?
The answer is more complicated than just choosing between the two. Each buyer has different priorities, and they must do tons of research before landing a decision.
That being said, a few guidelines will help you choose the right diamond.
1. Price
Initially, lab-grown diamonds were costly. However, the cost of lab-grown diamonds has dropped drastically due to the high supply. You can now get a lab-grown diamond with similar properties to its natural counterpart for 35% of the cost of a natural diamond!
The reason for the low price of synthetic diamonds is production. Since they’re grown in the lab, these diamonds can be created in weeks. A natural diamond, in comparison, takes billions of years to form in nature! Simply put, there’s no cap on the supply of lab-grown diamonds.
For a lesser amount of money, you can get not only a higher-carat diamond but also one with higher colour and clarity! So that’s something to consider seriously before buying your engagement ring.
2. Value over time
The cost of natural diamonds has historically increased; they’ve retained most of their value. Natural diamonds will always have an amount of resale value; some retailers even offer a 100% trade-in value!
On the other hand, they have zero resale value because of the absence of a supply cap for synthetic diamonds.
So if you’re somebody who keeps long-term value in mind, you should steer clear of lab-grown diamonds.
3. Quality
Whatever is said and done, it is safe to say that quality applies to natural and synthetic diamonds. No matter what type of diamond you will eventually go for, you shouldn’t compromise on the quality. It is a representation of your love for your partner, after all!
Always remember the 4Cs – carat, cut, colour, clarity – while assessing the quality of your diamond. You must be clear about these criteria before buying a particular engagement ring.
The Bottom Line
When you’re looking for engagement rings in New Zealand, you have many options to choose from. More recently, the rise of lab-grown diamonds has made buying the perfect ring for your partner even harder.
Before jumping to a conclusion and selecting a natural or synthetic diamond, you must understand a few basics about what you should look out for. Considering the price, resale value and quality would be best.
All in all, at the end of your purchase, you should have no regrets.
