Laboratory-Grown Stone Evaluation from Zen Pırlanta Executive
Industry representatives evaluated the sales of laboratory-grown stones, driven by a sharp drop in carat prices and high profit margins.
Within the scope of the new draft regulation prepared by the Ministry of Trade for jewelry commerce, Zen Pırlanta Board Member Yiğit Akgün evaluated the price changes and market conditions of laboratory-grown stones.
Obligations Introduced by the Draft Regulation
The changes planned by the Ministry of Trade in the Regulation on Jewelry Commerce are being evaluated. Within this scope, it becomes mandatory to include explanatory statements on labels, certificates, and advertisements for products containing synthetic stones.
Sharp Drop in Carat Prices
The price of laboratory-grown stones, which was around $1,800 per carat three years ago, has dropped down to $50 today. This situation directly affects the cost structure of the market.
Sales with High Profit Margins
Laboratory-grown stones, whose prices have fallen to $50, can be offered to consumers with high profit margins at prices close to natural diamonds. There are examples where rings produced from a stone that costs $50 per carat are sold for $1,000.
Increase in Supply and Global Practices
The increase in the supply of these stones, which can be produced in millions, will lead to further price drops in the future. On a global scale, in countries such as Russia, France, India, and Belgium, these stones are defined as synthetic and sold by weight.