The topic of mined diamonds vs lab grown diamonds has been widely discussed in recent years and is an issue that we would like to delve into deeper. Many blogs and articles claim that mined diamonds hold their value well, but it is important to note that many of these statements are backed by the mined diamond industry in an effort to shift public perception in their favor. However, in recent years, the monopoly that the mined diamond industry has enjoyed has come to an end.
As with any monopoly, the end of it brings about a revitalization that benefits consumers and markets, and in the case of mined diamonds, even the planet. The diamond industry is undergoing a significant shift due to technological advancements, which is forcing key players to adapt or risk extinction. Now is a better time than ever before to buy an engagement ring.
AN INVESTMENT IS ONLY AS VALUABLE AS SOMEONE ELSE IS WILLING TO PAY FOR IT!
Throughout history, the price of an item, service, or investment has been determined by the economic principle of supply and demand. Despite the complexity of today's cashless economy and the rise of cryptocurrencies, this principle still holds true. In this article, we will provide an in-depth examination and analysis of the topic, crafted by industry experts. We will also identify the major factors that influence the resale price of mined diamonds.
As global warming and its effects become more prevalent, younger consumers are becoming more dedicated to finding environmentally friendly alternatives to help combat climate change. As a result, mined diamonds are viewed with increasing negativity due to the environmental damage they cause, including loss of animal habitats, contamination of drinking water, and deforestation. With a simple internet search for "diamond mine images," prospective customers can see the extensive destruction caused by mined diamonds on their way to the jewelry store.
In the context of mined diamonds, ethical and environmental considerations are closely connected, as they both affect the diamond mining industry. In addition to the environmental damage caused by diamond mining, the industry is also known for exploiting slave labor in its mines. For a long time, these actions had little consequence as the industry operated in impoverished and corrupt African countries with little oversight. This led to the term "blood diamonds" being associated with mined diamonds, signifying the human cost of mining them. Additionally, due to the systemic corruption and greed in the diamond industry, it is nearly impossible to determine whether diamonds labeled "conflict-free" were truly mined without the use of enslaved people.
It is not surprising that the sufferings and destructions associated with mined diamonds make them unappealing to socially conscious consumers. As younger and more informed consumers enter the market, we can expect this trend to continue. Given this, why would anyone want to honour their love and commitment to another person with a mined diamond that is responsible for causing so much suffering when a lab grown diamonds is not only more affordable but also truly "conflict-free."