The diamond industry, traditional in its ways and resistant to change, is a hotspot for innovation now. Consequently, the key players in the market are now panicking about the increasing market share of diamond alternatives to mined diamonds. This article might not be what you usually expect from Diamondrensu, but we like to keep things interesting around here.
Understanding the business perspective of the rising appeal of diamond ring alternatives can make your choice of engagement rings and other precious accessories better. You can also get an overview of the best diamond alternatives and make wiser decisions while shopping for jewelry next time. If you are a diamond enthusiast, keeping up with what is happening in the industry can benefit you in the long run.
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Diamond Alternatives are on the Rise
Let’s look at the phenomenon of diamond substitute stone that is taking over the world by storm with an example. If you plan on listening to your favorite album in 2023, numerous digital music service providers give you access to millions of songs at a few taps. Cut back to a decade ago; iPods and walkmans had music lovers under their spell. Going even further back in time, you can find CDs, cassettes, vinyl records, and so it goes.
What you notice here is that even though people throughout time have loved music, the way they enjoy it has transformed. Their needs and expectations concerning this form of entertainment changed at every turn. Even the most brilliant of ideas faced resistance initially before becoming globally accepted. Considering this, doesn’t the idea of diamond alternative engagement rings sound better?
For a while now, lab-grown diamonds have taken the stage as a luxurious and sustainable substitute for naturally mined diamonds. Since they pose none of the humanitarian and environmental threats that come with natural diamonds, you can enjoy your gorgeous jewelry guilt-free. Yet, limiting yourself to synthetic diamonds alone can catch up with you soon. When you have diamond ring alternatives like moissanite, morganite, opals, and aquamarine in the market, step away from the classic diamond and experiment a little.
What is Moissanite?
All the talk about moissanite disrupting the diamond industry would be absurd without knowing anything about it. Even though moissanite is naturally occurring, the ones you see on jewelry are man-made. The material was discovered at the bottom of an Arizona meteorite crater by Henri Moissan in 1893. By far, moissanite is the best diamond alternative the world has to offer.
In the most basic definition, moissanite is a mineral composed of silicon carbide. It is almost identical to diamonds apart from the more clear, more bright, and more colorful appearance of it. This is only because moissanite is carefully made in a lab, eliminating any chance for flaws. The process of moissanite production also cuts environmental and labor impact down significantly and, in comparison to mined diamonds, is significantly more eco-friendly.
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Reasons Behind the Rise of the Diamond Substitute
There are various factors contributing to the booming popularity of the diamond substitute. While each alternative has a whole set of pros and cons compared to mined diamonds, there are some commonalities.
For instance, the price points of a diamond substitute stone stand much lower than natural ones. Lab-created stones like moissanite are affordable, sometimes over 80% less expensive than mined diamonds. In light of the pandemic and its consequences on the economy, it is understandable that people are prudent while spending. When there is an option to get a radiant ring or gorgeous tennis bracelet in moissanite at a fraction of what the diamond version costs, most buyers prefer the former. Unlike before, dipping into the savings for wedding jewelry does not make sense in a world filled with uncertainty.
Social awareness and moral values that consumers live by are other influencing factors. Cultured diamond alternatives are conflict-free. There are no social, personal, environmental, or ethical concerns surrounding these synthetic stones, while natural diamonds wreak havoc on a local and global front in all these aspects.
Finally, it boils down to aesthetics. When we say that a diamond substitute like moissanite is as beautiful as natural diamonds, take our word for it. You will not find these pieces lacking in style or taste. Suppose you really want to get into moissanite vs. diamonds. In that case, it needs to be said that moissanite is the best diamond alternative because it gets more points for outstanding brilliance and sparkle.
Consumers are Discovering the Brilliance of Moissanite
Moissanite has been around forever, but it was only discovered in 1893. Even then, it took a while before it made it onto jewelry. Those who want diamond jewelry but don’t have the budget to purchase it can rely on this diamond substitute stone to get the job done.
Resilience
Diamonds are the hardest substance on earth, popular for their strength and longevity. That said, moissanite is equally good in this aspect. Consumers often opt for moissanite because of its robust physical properties and unbreakable nature, not entirely unlike diamonds. These diamond alternatives also withstand high temperatures, up to 2,000°F. When used for industrial purposes, moissanite is a part of bulletproof armor and can withstand grenade attacks. In light of this, we believe that most customers can wear this stone every day without damaging it.
Radiance
Gemstones give that stunning glow we all love when light is reflected internally. The phenomenon allows the viewers to witness the “fire” that diamonds are beloved for. Even in this parameter, moissanite stands a step ahead. In terms of brilliance refractive index, moissanite measures 2.69, with a fire dispersion of 0.104. Diamonds, on the other hand, have an RI of 2.42 and a fire dispersion of 0.044. In the face of more sparkle at fewer bucks, we understand the popular choice.
Renewability
Natural diamonds are exhaustible. If we keep up with the current pace of diamond mining, there will no longer be any left. Even now, the availability of high-quality diamonds from the ground is running low, and it is showing. As natural diamonds become scarce, their price also shoots up.
Moissanite is lab-created, so there is no chance of natural depletion. You can have gorgeous pieces of diamond ring alternatives using environmentally friendly stones, involving no excavation, mining, or depletion of natural resources. This keeps Moissanite a favorite for many and always falls under budget.
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Price
Inflation is a threat to everyone at the moment, and couples planning to get married need to be budget-conscious if they do not want to start their life together, burdened with debt. Since saving for rainy days is much more serious, being thrifty while getting married is the way to go. There is no room for second thoughts in this case because diamond alternative engagement rings are the perfect solution. Besides, sticking to a type of diamond alternative narrows down all the rings you need to browse while shopping. There is no better way to say it; moissanite simply makes it easier.
Personalization
With endless options for unique customer experiences, consumers today look for personalized services and solutions. The same applies to jewelry shopping. No one wants an accessory that anyone else might already own. Taking inspiration from classic pieces is fair game, but exact replicas of popular designs do not sell anymore. Customers look for ways to make their jewelry a reflection of their personalities or sentiments. Admittedly, it is easier to achieve this with diamond alternatives that offer various choices compared to natural diamonds that come in limited shapes and colors.
Another Forever Stone
The physical properties of moissanite come close to diamonds. The tough nature of the stone means buyers get a stone with a lifetime guarantee against scratches and chips. Even the color and clarity of moissanite do not disappear with time. Natural diamonds do not fare as well in time, and you will understand that investing in moissanite is smart. In addition, maintaining the stone is easy, and if its looks start wearing, jewelers always replace or upgrade them for you.
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Conclusion
The evolution of purchasing habits is an interesting area of study. Luxury goods like diamonds seem to always be the buyer’s favorite, but we are seeing different now. The adoption of diamond alternatives fits the social, economic, and environmental challenges that the world is facing. This class of gemstones has as much to offer as natural diamonds, and we believe you will grow to like them soon.
Diamondrensu can be your one-stop shop for all the diamond alternative engagement rings you need. We can help you find unique pieces that match your personality, and better yet, you can get a custom ring upon request. Hurry up and get your moissanite jewelry now!
