Diamond prices slashed 25% as lab-grown gems rock the industry

15-1-2024 Business NY Post - Business 18

Diamond giant De Beers slashed the price of its precious solitaires amid plunging sales as bargain-hunting fiancées increasingly opt for cheaper lab-grown gems. Among De Beers’ larger stones, one category of mined diamonds had its price slashed by as much as 25%, according to Bloomberg, citing people familiar with the matter. The category, called “select...

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