Lightbox Jewelry, a De Beers lab-grown diamond (LGD) jewellery brand, has announced a permanent price decrease of up to $500 per carat for the brand’s Standard line of LGDs, down from $800 per carat previously.
The price drop comes after months of testing reduced pricing and analyzing the lab-grown diamond jewellery industry. The firm will now offer three linear price points: $500 per carat for IJ color stones, $600 per carat for GH color stones, and $900 per carat for the best grade DEF color stones, down from $1,500 per carat. All stones have a guaranteed minimum of very good cut and VS clarity, with DEF stones having excellent cut.
Sandrine Conseiller, CEO of De Beers Brands, stated, “The wholesale prices of lab-grown diamonds in the jewellery sector continue to fall, and we are pleased to pass these savings on to our customers.” These lower prices will keep the brand competitive in this rapidly changing market, while also allowing it to continue offering high-quality lab-grown diamonds made using 100% renewable energy. Lightbox has always been devoted to linear pricing, which reflects the linear cost of production, as well as being open about what lab-grown diamonds are and, more crucially, are not.
“The price disparity between natural and lab-grown diamonds at retail is rapidly increasing, raising customer awareness that they are fundamentally different products. A Lightbox finest quality two carat lab-grown diamond now costs about 10% less than a natural diamond of the same size and quality. This pricing progression confirms our long-held belief that the primary opportunity for lab-grown stones in the jewellery sector will be in fashion jewelry, with lower price points allowing for fun and colorful innovations such as the blue and pink Lightbox stones. We believe it is critical that jewelry buyers understand that lab-grown diamonds are a separate product category and do not have the same enduring value as natural diamonds.