The holidays are often used as a setting for proposals, and with a COVID-19 vaccine finally beginning to roll out, business at wedding venues could be ready for a post-pandemic rebound.
If you are planning to leave a diamond under the tree, you may want to consider lab grown.
The biggest reason is they cost a whole lot less than their earth-created cousins.
"You can buy a lab grown diamond for about 75% less than a natural diamond, so that is a huge difference and not only that, you get the same look," said Steven Silver with Jewelry Appraisal Services.
As for the look, Silver tells us over the last few years, the lab growing process has gotten better and current lab grown diamonds are on par with natural diamonds for looks and quality.
"The question always is, 'Is it a real diamond?' Well, it comes from a natural diamond crystal, but it is still considered a synthetic lab grown diamond and the growth of this lab grown issue is basically a price issue," said Silver.
For instance, a $5,000, one-carat natural diamond will only set you back $1,300 for a lab grown equivalent.
One downside, the resale value of a lab grown diamond is far less than a natural one.
"Because there is an endless supply," added Silver.
But if you believe love is eternal, and your loved one doesn't mind, our expert says it is virtually impossible for the average person to tell the difference between lab grown and natural diamonds.
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