Earth mined versus lab grown?
Why we love natural Diamonds at O’Reilly’s
- Natural diamonds are finite and rare. Diamonds are becoming rarer every day because no new significant deposits have been discovered in about 30 years. However, lab-grown diamonds can be manufactured in potentially unlimited quantities similar to any manufactured product, thus they are not finite and so cannot be considered rare.
- A high value is attached to natural diamonds because of their rarity, beauty, emotional symbolism, and significance. They are incredibly durable and do not wear out even after decades of used, unlike other luxury items.
- Buying a natural diamond at auction is particularly advantageous as it will maintain its value, unlike purchasing at a retail store where sales tax and profit margins add non-recoverable premiums. Lab grown diamonds have been shown to have very little re – sale potential as the market is becoming flooded with these stones and improvements in technology cause them to become ever cheaper.
- Buying second hand items at auction is eco-friendly due to the fact that there is no further impact on the planet. Despite marketing claims the carbon emissions of lab-grown diamonds are estimated to be three times higher than the carbon footprint of earth-mined diamonds. This is because growers need to generate and consume large amounts of energy to recreate the conditions in which natural diamonds are formed.
- Antique jewellery is unique, no two pieces are the same, the often contain old cut diamonds which are hand cut and polished have a particular character that is not seen in mass produced machine cut diamonds and off - the – shelf jewellery pieces
Here at O’Reilly’s we have made the decision to auction natural earth mined diamonds only. As Lab grown diamonds continue to flood the market the prices continue to drop, however as our business is based on re – sale and we cannot guarantee the re – sale price of lab grown diamonds, we have opted out of offering them for sale.
