Aussies return to debate between natural and lab-created diamonds

The debate between advocates of natural and lab-created diamonds has returned to the mainstream media in Australia.

9News recently published a report detailing the market tension between natural and lab-created diamonds, which was aired on A Current Affair. A contributor to the report was Talitha Cummins of The Cut, who estimated that lab-created diamond jewellery accounted for more than half of her business.

"Even up to a couple of years ago, there was a real stigma around lab-grown diamonds, but that's dissipated in the last couple of years as people understand more about what they actually are," she said.

"There's really a strong demand for lab-grown diamonds. They've democratised the market, and they just essentially mean that you can get a larger stone for your money.

"I think lab-growns can make people's dreams come true. It's a difficult time that we're living in. People are struggling to make ends meet, and I think this gives younger people a great option."
Talitha Cummins, The Cut

"I think lab-growns can make people's dreams come true. It's a difficult time that we're living in. People are struggling to make ends meet, and I think this gives younger people a great option."

Reporters also spoke with George Bakoulas of the Australian Diamond Company, who said that he has observed an increasing interest in natural diamonds among consumers.

"So I think that creates a bit of a dilemma for a lot of people, because it's not like you're getting a fake handbag or a fake watch or anything like that. They're ultimately exactly the same thing,” he said.

"I would say the lab-grown diamonds are probably about 70 per cent to 80 per cent more affordable.  I really think the introduction of lab-grown diamonds has been a positive thing for our industry, because it gives the consumer choice.

"Ever since there was a big take-up of lab-grown diamonds, we've started to see the pricing of natural diamonds come down considerably. In fact, I think it's probably the lowest I've seen natural diamonds in terms of pricing for quite a long time.

"It's been a bit of a win-win for everybody if you ask me."

In December, Jeweller published The Great Diamond Debate III, featuring expert commentary from industry voices around the world.