Engagement rings have been used forever before a wedding to symbolize the union of two individuals. However, most of us are unaware of the key details of this much-loved jewelry piece.
So, in this article, we will pen down some interesting details about the diamond engagement rings:
Fact 1- Laboratory-grown and natural diamonds can be differentiated
Laboratory-grown diamonds can be easily distinguished from natural diamonds through verification instruments. Besides being produced in large batches, laboratory-grown diamonds have several patterns and they grow differently.
Fact 2- Naturally occurring diamonds are ethically sourced
Many believe that naturally occurring diamonds are not ethically sourced. However, Kimberley Process is mandated by the United Nations and World Trade Organization, which restricts rough-cut diamonds from being produced with any conflict. Moreover, third-party diamonds are sourced ethically through the audit process of the Responsible Jewelry Council.
Fact 3- Laboratory-grown diamonds are not really sustainable
Most laboratory-grown diamonds are processed across India and China. According to the requirements, the process needs to be at a temperature that is 20% of the Sun’s temperature. With most of the electricity produced through coal in India and China, the overall process cannot be considered sustainable.
Fact 4- Laboratory-grown diamonds are comparatively cheap
The prices of laboratory-grown diamonds have gone down significantly. If you bought a 1.5-carat diamond in 2016, it would have cost you nearly $11000. However, if you purchased the same diamond in 2023, it would cost you around $2500. Although the prices have gone down, for the past 25 years, the appreciation rate has increased by an average of 3% yearly. Certain laboratory-grown diamonds have even shown a 75% drop in prices.
Fact 5- Natural diamonds are becoming rarer
The recovery rate of natural diamonds has fallen significantly by a rate of over 30% from 2005 to 2023. The current annual recovery rate of a simple 1-carat diamond can only fill a single exercise ball. Since the overall process of diamond creation takes millions, if not billions of years and at specific places around the Earth, it is becoming rarer every passing day.
Fact 6- Natural diamonds are community beneficial
Natural diamond mining benefits around 10 million people globally. Nearly 80% of the rough-cut remains in the country of origin, supporting trade and economics and helping thousands of families to sustain their livelihood.
Considering all the above facts, you can opt for engagement rings by Faith that provide 100% reliability and customer satisfaction.