(IDEX Online) – A survey released by the Diamond Producers Association (DPA) and KRC Research found that over 53 million Americans (21%) plan to purchase a diamond between Thanksgiving and Valentine’s Day, with men and millennials most likely to purchase them.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
Of those who plan to buy a diamond, more than 20 million plan to buy a diamond engagement ring.
The survey confirmed that there is clear confusion among diamond purchasers about the differences between natural diamonds and laboratory-created diamonds, including differences in value, rarity, physical growth structure and origin, the DPA said in a statement.
“Diamonds shine especially bright this year,” said gemologist and diamond expert Grant Mobley. “Consumers, especially millennials, are seeking ways to share authentic, emotional and lasting symbols of love with the special people in their lives.”
But Mobley warned that this year the arrival of synthetic, or lab-created, diamonds can cause consumer confusion at the jewelry counter. He urged diamond shoppers to do their homework, so that they can ensure they are confidently buying a natural diamond, the DPA said.
According to the survey, nearly half of diamond purchasers (44%) were unaware of the significant differences in value, rarity, physical growth structure and origin between natural diamonds and laboratory-created stones. However, more than seven in 10 (71%) were more likely to buy a natural diamond over a laboratory-created diamond as they learned the differences. The key differences between natural diamonds and laboratory-created diamonds include:
- Natural diamonds are significantly more valuable than laboratory-created diamonds.
- Each natural diamond is