This start-up is selling lab-grown diamond rings at a 30% discount and jewelers couldn't tell the difference

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This start-up is selling lab-grown diamond rings at a 30% discount and jewelers couldn't tell the difference
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This start-up is selling lab-grown diamond rings at a 30% discount and jewelers couldn't tell the difference. via CNBCMakeIt

. Then, the process was mostly used to produce cutting and polishing tools. As the technology improved, costs decreased and the idea of using diamonds grown in labs specifically for use in jewelry started steadily gaining traction over the last five years.

But Reinsmith credits more than just a cheaper price for the growing popularity of lab-grown diamonds. Part of the reason she says Ada Diamond's sales have doubled for the past two years is because of changing consumer habits. Without being provided context that the diamond was in fact lab-grown, one jeweler offered $3,800 and another $3,000 after inspecting it under magnification. While most jewelers matched the independent ratings for the diamond's clarity and color, not a single one was able to identify it as lab-grown. Once that fact was revealed, every offer to buy the ring was immediately revoked.

But in order to truly understand if it's worth buying a lab-grown diamond, it's helpful to first appreciate what spawned the tradition of buying diamond engagement rings in the first place.revealed in a 1982 story The company also succeeded in propagating exactly what elements determined a diamond's worth. For a long time, a large emphasis had been placed on a diamond's size, until De Beers had a reason to change the notion that bigger was always better.

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