Skip to main content
Hamburger Menu Close

Advertisement

Style & Beauty

Coloured diamonds are rare and super expensive – here’s how technology is making affordable ones a reality

These high-value gems are now surprisingly within reach – if you go for the variety with different origins (but are still genuine).

Coloured diamonds are rare and super expensive – here’s how technology is making affordable ones a reality

(Photos: The Better Diamond and Aluxe)

New: You can now listen to articles.

This audio is generated by an AI tool.

Fancy coloured diamonds have always been somewhat of an uncommon pick for jewellery – particularly engagement rings, and one big reason for that is their high pricing, a result of their rarity.

They, however, have been very popular with celebrities such as Jennifer Lopez and Victoria Beckham, whose partners can well afford engagement rings set with massive coloured bling.

For the average consumer, their prices can be prohibitive – even for a modestly sized gem.

Given that they are generally more expensive than “white” diamonds, consumers are likely to go for the latter, which many feel is a safer option where value and aesthetics are concerned.

But what if we were to tell you that there are now fancy coloured diamonds that are, comparatively speaking, much more affordable?

Lab-grown diamonds – man-made diamonds that are cultivated in a machine – have been highly popular in recent years. They are not simulants and are genuine diamonds – the difference between them and mined natural diamonds lies in their origins.

While most people are, by now, familiar with lab-grown white diamonds (and the sizeable cost savings they provide), not as many are aware that coloured diamonds can also be manufactured.

Pink lab-grown diamonds from Aluxe. (Photo: Aluxe)

This means that they are also available in an abundant supply, and thus come at a fraction of the prices of their natural counterparts.

ACCESSIBLE PREMIUM DIAMONDS

According to Adeline Lin, co-founder of The Better Diamond, a homegrown custom jeweller that specialises in lab-grown diamonds, white lab-grown diamonds can be as much as 70 per cent cheaper than mined diamonds.

At Aluxe, one can find a 1-carat mined Fancy Light Pink diamond priced at around S$187,000, and a lab-grown Fancy Vivid Pink diamond of the same carat weight and clarity grade at about S$4,000.

“However, when it comes to fancy coloured lab-grown diamonds, the discount can be much more significant. For example, a 1-carat natural pink diamond can cost as much as US$700,000, whereas a lab-grown pink diamond of the same carat weight might range from only S$3,000 to S$6,000 – this makes a huge price difference,” she shared.

Aluxe's pink diamond Rose My Love collection. (Photo: Aluxe)

Another example of this immense cost difference can be found at Taiwanese jeweller Aluxe, which carries both lab-grown and natural coloured diamonds here in Singapore. At Aluxe, one can find a 1-carat mined Fancy Light Pink diamond priced at around S$187,000, and a lab-grown Fancy Vivid Pink diamond of the same carat weight and clarity grade at about S$4,000.

This works out to a price difference of about 98 per cent – certainly enough to convince anyone interested in a pink diamond to consider the lab-grown variety.

Tempted by the savings but aren’t quite sure what you’d be getting? Here’s what you should know.

HOW FANCY COLOUR DIAMONDS ARE MADE IN THE LAB

They are produced with the same methods used for lab-grown white diamonds – high pressure, high temperature (HPHT) or chemical vapour deposition (CVD), two processes that clone the conditions under which diamonds naturally develop. What’s different in the case of coloured diamonds is that certain trace elements are introduced during the cultivation, resulting in a range of colours.

“Introducing nitrogen during the process can produce yellow or orange diamonds, while doing the same with boron can result in blue diamonds,” said Anne Fang, marketing director of Aluxe.

These methods replicate how natural diamonds get their colour while they are forming deep in the earth – they have been exposed to the same elements simply by natural occurrence.

“The science behind fancy coloured diamonds is not yet fully understood as it is uncertain how some colours – such as pink and red – are derived naturally. However, these colours can still be replicated in a lab via alternative methods such as irradiation and heat,” said Lin.

Heat and irradiation treatments do not make them any less genuine, however. Even natural diamonds are sometimes put through these treatments. “Our natural blue diamonds have undergone a heat treatment process to bring out their inherent blue hue. This method is accepted in the diamond industry and results in beautiful, high-quality gemstones,” explained Fang.

Coloured diamonds offer a unique choice, serving as both a fashion statement and a valuable investment.

But do such treatments lower the value of coloured diamonds? Especially since they, unlike white diamonds, are graded predominantly by the saturation of their hue by gem-evaluating institutes.

According to Lin, it depends on the type of coloured diamond. “There are natural diamonds that are untreated, and those presenting a vivid colour without treatment will be valued higher than those that have undergone treatment. With lab-grown coloured diamonds, however, [colour-enhancing] treatment is a very ‘normal’ process. So, whether a lab-grown diamond is put through such a treatment or not doesn't really affect the pricing in any significant manner,” she said.

Such treatments also allow a wide variety of diamond colours to be created in the lab. “We have diamonds of almost any colour you’d desire. The most popular colours would be yellow, pink, green, blue and red. There are also many different tones within the respective colours, as well as a blend of colours like greenish-blue, orangey-pink, or purplish-red,” Lin added.

In case you’re wondering, diamonds that have undergone such treatments should also come with proper certification from recognised organisations – if you purchase them from a reputable retailer. For example, lab-grown diamonds above a certain carat weight at Aluxe will come with IGI certification, while at The Better Diamond, they are certified by either IGI or GIA.

A TREND ON THE RISE?

Has interest in fancy coloured diamonds increased with the arrival of the affordable lab-grown variety? Yes, it seems, but it hasn’t yet produced the major growth one would imagine such huge cost savings would bring.

Rose My Love pink diamond engagement rings. (Photo: Aluxe)

Earlier this year, Aluxe launched Rose My Love, a line of engagement rings that features lab-grown pink diamonds in fancy cuts. It also offers lab-grown and natural blue diamonds that can be set as centre stones in rings, catering to customers with different needs.

While Aluxe has seen a promising increase in its sales of coloured diamond jewellery, Fang noted that its popularity is also influenced by factors beyond one’s budget.

“Today’s customers seek engagement rings that blend timeless elegance with personal expression. Coloured diamonds offer a unique choice, serving as both a fashion statement and a valuable investment. While price may be a consideration, its often the traditional expectations of an engagement ring that lead customers to choose white diamonds,” she said.

“When we look at natural white diamonds, sales have been impacted significantly due to the rise of the lab-grown diamond industry. However, the natural coloured diamond market occupies a different niche. Even for the more affordable variants of such coloured diamonds, sales volume is low, as people often opt for gemstones when looking for coloured options,” said Lin.

She believes that any rise in the sales of the lab-grown coloured diamonds will be largely due to a new group of consumers who do not already belong to the natural coloured diamond market.

“I hope lab-grown coloured diamonds pick up as a trend, since they offer so much savings. We are big fans of them and often bring them up as an option to clients during consultations. In fact, we have toyed with the idea of starting another brand that focuses solely on lab-grown coloured diamond jewellery,” she added.

Source: CNA/yy

Advertisement

RECOMMENDED

Advertisement