Lab Grown Diamonds Market Size
As the proposal season approaches in New York City, so are lab-grown diamond sales. The lab grown diamonds industry was valued at $19.3 billion in 2020, and the market size is expected to increase to $49.9 billion by 2030. Industry experts estimate that the market value of synthetic diamonds in 2030 will exceed 19.2 million carats.
But why are New Yorkers so interested in synthetic diamonds? Do synthetic diamonds have a different appearance than mined diamonds? How do they seem at various carat weights, and what types of inclusions do they have? This post is aimed to answer all these questions!
Moreover, we will talk about America’s #1 source of diamond engagement rings, Rare Carat. We will study the platform’s various features and Rare Carat reviews. You will also learn to optimally use and navigate the Rare Carat website and site tools. So, let’s get started, shall we?
Lab Grown Diamonds NYC
Like other rocks and minerals, Diamonds require a highly particular environment to grow organically in the soil. Lab Grown Diamonds, on the other hand, are manufactured in a lab. They use a procedure that mimics the natural diamond developing process and has similar physical qualities as mined diamonds. The only difference is that lab-grown diamonds take weeks to manufacture rather than billions of years.
The demand for artificial diamonds increases by the day as more people become aware of their existence. Each year, lab-grown diamonds gain a larger share of the worldwide diamond industry, and the number of lab-grown diamonds produced increases. The market share of lab-grown diamonds in the overall diamond market is expected to reach 10 percent by 2030.
How Are Lab grown diamonds Manufactured?
Synthetic diamonds use the carbon seeds from pre-existing diamonds as raw materials. Two unique deposition procedures, known as HTHP (High pressure, high temperature), or CVD (chemical vapor deposition), are used to simulate the natural process of diamond creation.
CVD is the more popular synthetic diamond manufacturing procedure of the two. The main reason is that diamonds manufactured under HPHT are yellowish or brownish and thus, have a lower economical worth. The market turnover for lab-grown diamonds manufactured using the CVD process will reach 16.5 billion USD by 2024. The market value for the HPHT technique in the same period is expected to reach 11.7 billion US dollars.
After being formed, some deposition-grown lab diamonds may be subjected to pressure and heat treatment. How do they make those fancy colored diamonds, then? Like in nature, fancy colored lab-created diamonds are formed when small levels of specific trace minerals are involved during their growth stage.
Does Lab-Grown Diamonds’ Crystal Structure Differs from Natural Diamonds’?
The carbon atoms in these lab-grown diamonds are organized in the classic diamond crystal structure. They have the same visual and chemical qualities as natural diamonds because they are manufactured of the same substance.
The specific structure of trace minerals in white and fancy colored lab diamonds may differ slightly from real diamonds. However, only specialist equipment identifying particular microscopic traits can distinguish between lab-made diamonds and organic, mined diamonds.
So, Are Lab Grown Diamonds “Real”?
If by real you mean “natural,” then no! Otherwise, lab-grown diamonds are in every sense “authentic.”
Some people believe that lab-grown diamonds are fake because they are associated with “synthetic.” However, in reality, the sole difference between a lab-created diamond and a real diamond is its origin. A lab-grown diamond is made using cutting-edge technology replicating the natural diamond-growing procedure.
The outcome is a lab-made diamond that is chemically, physically, and visually identical to diamonds formed beneath the surface of the Earth.
What Makes Lab-Grown Diamonds So Popular?
Why are New Yorkers so intrigued by synthetic diamonds, though? Lab diamonds are a more affordable, environmentally friendly, and ethical option. With these benefits, there’s no reason ever to acquire a mined stone. Here are some of the top arguments:
1- Environmental Friendliness
One of the most obvious benefits of lab-grown diamonds is their environmental friendliness. Diamonds can be grown in a lab using far less energy than they can be mined from the Earth.
Furthermore, one carat of mined diamonds requires 126 gallons of water to extract and treat, compared to 18.5 liters for lab-grown diamonds. Another enticing feature is that each synthetic diamond saves the globe that much in displaced Earth, plus the energy required to move it.
Another major advantage of lab-created diamonds is that they may be substantially less expensive than mined diamonds. Although lab stones vary in price, the average lab diamond costs roughly 40% to 50% less than a real diamond.
3- Social Efficiency
Compared to the mined diamonds, lab-grown diamonds are also manufactured in a far more ethical context. Miners’ working conditions can be dreadful and are sometimes compared to slavery.
Companies that make lab diamonds, on the other hand, do not mine diamonds to make the stones. Thus they do not promote or participate in these unethical methods. When you buy lab-created diamonds, you can be assured that you are not supporting child labor or conflict diamonds.
The Top Lab-Grown Diamond Manufacturers in NYC – Rare Carat
The USA is the third dynamic synthetic diamond manufacturer globally. It produces around 13% of the global lab-grown diamond production globally. The majority of the US cultured diamonds trade is carried out in New York City. Rare Carat is one of the major lab grown diamonds marketplaces in New York City.
Rare Carat is a New York City-based e-commerce company specializing in diamond ring sales. It specializes in data science and AI-powered technology to enable its services and maximize the customer experience. What is Rare Carat, and how does it stand out from the various other lab-grown diamond dealers in the US? This Rare Carat review includes all the details about the company’s services and client testimonials!
About Rare Carat
Rare Carat is well-known in the market for assisting you in finding the perfect diamond. Rare Carat, founded by Ajay Anand, allows consumers to compare diamond prices to find a good deal easily. It is one of the most affordable diamond and engagement ring marketplaces in the United States. Like most virtual stores, this portal gives customers access to records of diamonds sourced from throughout the world.
Rare Carat Business Model
Rare Carat began as a pricing aggregator, collecting data and diamond supplies from many internet sellers and displaying them in one gallery. This allowed the client to compare multiple retailers at once.
Rare Carat’s business strategy had changed in 2022, and it had evolved into a “marketplace” that handles everything: payment, customer service, and shipment. The retailers that diamond seekers purchase directly are wholesalers for the Rare Carat marketplace.
Rare Carat offers ethnically sourced lab grown diamonds. Their objective is to provide a diverse and well-curated selection of economical lab-grown diamonds and diamond jewelry.
Rare Carat today competes against massive and well-known digital brands. It has evolved into a more traditional retailer. Rare Carat does more than provide customers with access to a database of diamonds sourced from suppliers worldwide. It is now known as the “Rare Carat brand.”
Rare Carat Diamond Inventory
Rare Carat offers a range of diamonds, including lab grown diamonds and mined varieties. The platform offers two types of lab-grown diamonds: HPHT and CVD.
Rare Carat’s huge collection of the most precious diamonds is one of the primary aspects distinguishing it from other diamond sellers. Rare Carat specializes in engagement rings, wedding rings, diamond jewelry, loose diamonds, and designer rings, among other things. Each category has a wide amount of goods to pick from.
Furthermore, Rare Carat provides a wide range of color possibilities. Additional modification options allow you to personalize the diamond with your design. And it’s not like companies just throw their items up on the sites and expect buyers to figure it out for themselves. Customers will find a large range of solutions grouped rationally, making it easy for them to choose.
Rare Carat Web Interface
People are sometimes apprehensive about making large purchases online. As a result, the platform must be transparent and simple to use. Rare Carat checks this box: their website is well-designed and appears to be polished, current, and straightforward.
Rare Carat’s homepage is visually appealing and has minimal text and graphics, making it easier for customers to access the information they require. The website is separated into two sections: one for seeing their diamond selection and the other for personalizing your diamond. A blog dedicated to educating people about different diamond sizes, cuts, and modern designs is also available on the website.
On the Rare Carat website, there is a search bar where you can write in your questions. A gemologist from Rare Carat will guide you and help you locate the best diamond for your needs via a live chat function. Furthermore, because you choose the diamond and tailor it to your desire, there is no such thing as a blind buy-in Rare Carat.
How Does Rare Carat Work?
Rare Carat does away with the concept of intermediaries to offer you the lowest diamond rates. Additionally, the company does not operate any physical store or hire sales representatives. It transfers its cost savings to the customers as well.
Rare Carat puts you in touch with wholesalers who provide GIA certification for natural diamonds and IGI, GIA, or GCAL certification for lab-grown diamonds. Rare Carat ships it overnight via FedEx or UPS when you place an order. The company gets each package insured and mandates an adult’s signature to receive the parcel. You then receive an email the night before the delivery to ensure timely receipt of your diamond order.
Step-by-Step Process to Buying Diamonds off Rare Carat
Here is the ultimate 4-step procedure to order a diamond from the Rare Carat website:
Step 1: Access the best natural and lab-grown diamond inventory globally with a single click.
Step 2: Select a diamond by either choosing one from their collection or personalizing one on the website.
Step 3: Use Rare Carat’s AI-powered price and quality scores and human gemologists to choose the perfect diamond for your budget.
Step 4: Rare Carat will process your order to ensure the diamond’s authenticity and make sure everything runs smoothly.
Rare Carat Tools
The platform offers tools like the Rare Carat Report and Rare Carat Deal Score that use machine learning and human knowledge to help diamond buyers analyze diamonds for sale sensibly.
1- Rare Carat Report
Customers can generate a report on any diamond to determine if the gem has any quality flaws. Each Rare Carat Report examines the value, cut, color, and clarity of a diamond, among other things.
Even though AI-generated reports are applicable for GIA-certified diamonds, you can get free human reviews on any diamond by the company’s unbiased gemologists. You can even assess a diamond you own or are considering selling to determine its retail value and quality through the Rare Carat Report.
2- Rare Carat Deal Score
You will find more than 300 articles on the Rare Carat website. These include diamond education, tips, tricks, company news, and information regarding various diamonds’ cuts, color, clarity, and certification.
Rare Carat has an unbiased staff of GIA-skilled gemologists ready to have a real-time discussion with you regarding the diamonds and engagement rings you are considering buying. The Rare Carat team has thoroughly examined tens of thousands of gems.
To get expert advice, ask the person on the other end if they are a gemologist. Every individual who assists you at Rare Carat is a true specialist with a certification to prove it. Countless people have testified to the company’s honesty in their reviews.
Rare Carat does not sell diamonds directly, but they help with payment and security. Credit checks, financial reviews, industry reference checks, and other methods carefully evaluate Rare Carat’s sellers.
Retailers must maintain positive reviews and a 30-day return policy, and any supplier who fails to meet these requirements is banned. Additionally, all the customers get a Rare Carat Money Back Guarantee after all purchases are made through the website.
Rare Carat is one of the few lab grown diamonds marketplaces where the aesthetic complements the commodity. Professionals believe it is worthless to design the most beautiful jewelry if customers cannot picture it.
They have a team of photographers who picture the exquisite gems and post them in a 360-degree format to give the entire impression. They also have their own Instagram account, where they post various interesting product photos.
Rare Carat also plans to embed 60-second 3D movies beneath each piece, allowing customers to better look at the item before buying it.
Rare Carat Warranty
Every shop on our site offers a manufacturer’s defect warranty. They promise that all things sold are defect-free at the time of delivery. If there are any flaws, the vendor will fix or replace the item at no cost to you.
Upon arrival, rare Carat staff will evaluate your jewelry to determine whether the damage is due to a manufacturing defect or normal wear, activity, or trauma. This is decided on an individual basis. Before any work is done, our ordering team will call you to discuss and authorize the repair plan.
To avail of Rare Carat’s Warranty, reach out to a gemologist via chat or leave an email at email@example.com
Here’s Why Rare Carat is America’s #1 Source of Diamonds
Here are some top features of the Rare Carat marketplace that make it stand out from its competitors:
1- Input from Specialized Gemologists
One of Rare Carat’s unique selling points is providing customers with unbiased diamond advice. Specialized gemologists provide customers with expert advice regarding their purchases. It increases the level of trust.
2- Quality assurance and AI pricing
Another notable feature of Rare Carat is that clients can obtain unbiased assessments of the diamond’s pricing and quality. In addition, the organization provides a thorough sample report for customers to review.
3- Free of Cost, Insured Shipping
One of the best aspects of Rare Carat’s services is the safety precautions it employs to assure overall security. Customers receive their orders in a secure box that requires authentication by signature. As a result, there is no room for any safety or security risk when the items are being transported.
4- Flexible Return Policies
Customers can also benefit from a 30-day return policy when they purchase. Another advantage is that it does not contain additional shipping or restocking fees. Buyers can also resize their rings for free within 60 days of receiving their item. As a result, clients can avail Rare Carat’s flexible return policies at their leisure.
5- Laser Inscription Verification
Buying a diamond online is nothing less than a gambling game. You have no way of ensuring whether you receive genuine gems or not. One of the most remarkable aspects of Rare Carat’s services is that it completely verifies the genuineness of the diamond. A laser inscription is used as part of the process before the order is shipped. Customers no longer have to be concerned about the diamond’s quality or genuineness.
6- Price Comparison
Customers can also request diamond price comparisons and the services mentioned above. The encounter takes place through the Rare Carat website’s chatbot services, where they are guided through the full procedure by a virtual assistant. The user interface is incredibly smooth and simple to navigate.
Pros and Cons of Rare Carat
Like every other online marketplace, the Rare Carat diamond marketplace has its upsides and downsides. However, its pros outnumber the cons. Here is a comparison of Rare Carat’s pros and cons to give you a better idea:
Rare Carat Pros
1- Unbiased Diamond Resource
Rare Carat only gets paid a commission depending on the retailers’ advertising fees. This eliminates any motive for them to steer a buyer in a certain way, making them an unbiased source for diamond purchasing based on the manufacturers they represent.
2- Great for First-Time Diamond Buyers
Rare Carat presents insight to a customer who is buying their first diamond. The ability to compare thousands of diamonds in one location and display exactly what they want benefits the typical customer greatly.
3- Diamond Education
Before ordering a diamond online, it is critical to educate yourself because numerous techniques can help you save money. Rare Carat also offers education through their blog, ‘Diamond Buying Guide.’ You’ll find all you should know about the gemstones, including certification, the 4 C’s, etc.
4- Price Comparison
When used appropriately, Rare Carat can assist you in getting a decent deal by comparing prices from well-known online jewelry manufacturers.
5- Expert Advice
The Rare Carat platform offers an automatic diamond value assessment and access to human gemologists for advice.
6- Cost Saving
Rare Carat keeps the minimum amount as profit, so you are sure to benefit from tremendous cost savings.
Rare Carat Cons
1- Not the Best Quality
While Rare Carat is an excellent resource for customers looking for the best deal on a diamond, it does not guarantee that you will find the best gemstone in terms of quality.
2- Dilutes Social Engagement
While buyers may be better informed to make an informed diamond purchase, doing so through Rare Carat dilutes the customer-brand relationship. You don’t have access to customer support and the opportunity of consulting with the staff before buying a diamond.
Rare Carat Customer Reviews
Rare Carat ensures that the packaging is fashionable and appropriate for the goods. Customers have rewarded them with bonus points for their clever packaging.
Rare Carat’s customized gift alternatives are also popular with customers. Clients have a diverse variety to pick from and the option of home delivery. Furthermore, the market is known for delivering great after-sales service to its customers. Customers who buy from them are promised a one-of-a-kind experience.
Rare Carat has a long history of striking exclusive agreements with various diamond distributors around the world. Each designer brings something unique to the site, offering unique diamond pieces that are elegant and well-designed.
Rare Carat uses Augmented Reality (AR) to simulate how various diamond shapes and sizes would appear on clients’ hands when wearing an Engagement Ring. Customers particularly enjoy the ‘designing your ring’ function, which allows them to personalize their diamond rings by selecting the form, color, and cut that they desire.
Rare Carat is the most straightforward and straightforward option. Why complicate and perplex internet diamond shopping when there is a place where it can be made so much easier? So, what are you waiting for? Join those who have purchased their dream jewelry from Rare Carat by making full use of their official website.