Unsold Lab Grown Diamonds Almost Being Given Away

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Market Saturation

One of the main reasons behind the surplus of unsold lab grown diamonds is the saturation of the market. In recent years, the production of lab grown diamonds has increased exponentially to meet the growing demand. However, this increased production has outpaced the rate at which customers are purchasing lab grown diamonds. As a result, manufacturers and retailers are left with excess inventory that they need to sell off.

Price Reductions

To clear out their surplus inventory, diamond manufacturers and retailers have resorted to drastic price reductions. Lab grown diamonds that were once priced at a premium are now being sold at a fraction of their original cost. These reduced prices have made lab grown diamonds much more affordable for consumers. However, this sharp decrease in prices has also affected the perceived value of lab grown diamonds.

Competition with Mined Diamonds

Another factor contributing to the surplus of lab grown diamonds is the competition with mined diamonds. Despite the environmental and ethical advantages of lab grown diamonds, many consumers still prefer the authenticity and 'natural' aspect of mined diamonds. This preference has led to a more limited demand for lab grown diamonds, further exacerbating the problem of unsold inventory.