We’re always on the hunt for the next big fashion trend. Whether it’s bangle bracelets or rose gold, something is always ready to take off – or disappear. In 2023, it’s all about a trend that is coming back into fashion: diamonds.
For engagement ring shoppers, diamonds never lose their elegance, but when it comes to all other jewelry diamonds have faded away in recent years. S
ome people highlight the cost for the reason they’ve become less prevalent, others have signified that it has to do with birthstones growing in popularity, but if one thing is clear, it is time for the diamond to come back, and you don’t want to get left behind.
It’s no secret that diamonds are expensive, which is why they are so important in diamond engagement bands – no one wants a cheap symbol of their love. But in recent years, the cost of diamonds has started to come down with 2020 being the focal point of a major shift stemming from the popularization of lab-grown diamonds.
It’s true that diamonds have been grown in a lab since the 1950s, but it hasn’t been until the 2010’s that retailers jumped on the trend and started selling them alongside their earth-grown diamonds. And if you’re weary about the legitimacy of the stones from the lab, don’t be.
The testing is in, and lab diamonds are real diamonds, both chemically speaking (they have the same exact chemical makeup as earth diamonds) and legally speaking (The US Federal Trade Commission definition of a diamond includes diamonds that are grown in a lab).
With this trend shifting the diamond market, it’s not just engagement ring shoppers who are getting the goods. Essential jewelry like diamond earrings and diamond pendants are becoming primary products for traditional engagement rings and diamond retailers.
A classic pair of white gold diamond stud earrings that are 1 CTW normally will cost you over $3,000. That’s two half-carat diamonds set on gold earrings, so the high cost isn’t unheard of. Even though the price is a bit better than most diamond and jewelry retailers sell a pair like this for $2,300:
But what if you were to replace the earth diamonds with lab diamonds? Suddenly, the price drops to just over $1,400. That’s more than 50% less than the average retail price of $3,000 for 1 CTW diamond stud earring. When prices are dropping like this, you understand why the trend is spiking.
2020 was a chaotic year where most of us were trapped inside for far too long. As 2023 shifts the tide of the world, it’s time for all of us to get back out there and shine bright… like a diamond. If you’re not treating yourself to diamond jewelry this year with lab diamonds shifting the whole market, you’re going to be left behind.