Lab-GrownApr 08, 2024
Indian Lab-Grown Diamond Manufacturers Keep Growing Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
Lightbox, the lab-grown diamond brand De Beers Group launched in 2018 with an $800 per carat pricing structure, is now selling its diamonds for as low as $500 a carat. Pictured is a selection of loose fancy-cut lab-grown Lightbox diamonds.
Gresham, Oregon—Lightbox has cut prices by as much as 40 percent, bringing its lab-grown diamonds even farther below the market average.
Lightbox tested reduced prices in the fourth quarter 2023 and announced Friday it had officially adopted price cuts across the board, with the steepest drop coming for its highest-quality goods.
It is now selling its “Finest” lab-grown diamonds—D-F color, excellent cut, and VS clarity—for $900 a carat, 10 percent lower than the price offered in the Q4 trial ($1,000 per carat), and 40 percent off the original price of $1,500 per carat.
Prices on I-J color lab-grown diamonds were cut 38 percent, from $800 to $500 a carat, while G-H color stones are going for $600 a carat, down 25 percent from $800 a carat.
Even before Lightbox announced it was making its price cuts permanent, its lab-grown diamonds were priced well below the retail average, observed industry analyst Edahn Golan, co-founder of data analytics firm Tenoris.
He said in April, the average retail price of a 1-carat lab-grown diamond was $1,093, which is 27 percent more than Lightbox was charging for its standard lab-grown diamonds (G-J color and VS clarity).
Retailers paid $364 when they purchased that diamond, giving them a 67 percent gross margin, he said.
“It looks like De Beers is continuing with its effort to pull down lab-grown diamond retail prices by offering them for far below market prices,” Golan said, while noting that even under the new pricing, Lightbox is still selling well above its costs.
“We should expect continued lab-grown diamond price declines, especially considering the large margins through most of the lab-grown diamond pipeline, and the oversupply of goods,” he concluded.
Related stories will be right here …
Lightbox tested reduced prices in the fourth quarter 2023 and announced Friday it had officially adopted price cuts across the board, with the steepest drop coming for its highest-quality goods.
It is now selling its “Finest” lab-grown diamonds—D-F color, excellent cut, and VS clarity—for $900 a carat, 10 percent lower than the price offered in the Q4 trial ($1,000 per carat), and 40 percent off the original price of $1,500 per carat.
Prices on I-J color lab-grown diamonds were cut 38 percent, from $800 to $500 a carat, while G-H color stones are going for $600 a carat, down 25 percent from $800 a carat.
Even before Lightbox announced it was making its price cuts permanent, its lab-grown diamonds were priced well below the retail average, observed industry analyst Edahn Golan, co-founder of data analytics firm Tenoris.
He said in April, the average retail price of a 1-carat lab-grown diamond was $1,093, which is 27 percent more than Lightbox was charging for its standard lab-grown diamonds (G-J color and VS clarity).
Retailers paid $364 when they purchased that diamond, giving them a 67 percent gross margin, he said.
“It looks like De Beers is continuing with its effort to pull down lab-grown diamond retail prices by offering them for far below market prices,” Golan said, while noting that even under the new pricing, Lightbox is still selling well above its costs.
“We should expect continued lab-grown diamond price declines, especially considering the large margins through most of the lab-grown diamond pipeline, and the oversupply of goods,” he concluded.
Also on Friday, Lightbox announced it would now be obtaining batch quality verification for its lab-grown diamonds through the Gemological Institute of America.
Lightbox said GIA will assess a “statistically significant” sample in each production run to ensure they meet the lab’s quality criteria for color, clarity, and cut. A downloadable GIA “quality verification card” then will be available for each diamond in the batch.
A GIA spokesperson told National Jeweler that the batch verification service launched Friday. It is a service GIA is providing for Lightbox only, just as it does pre-owned jewelry authentication for eBay only.
The service will start with the Lightbox’s D-F color white round brilliant-cut loose lab-grown diamonds, though it could expand to the blue and pink lab-grown diamonds in the future.
Lightbox CEO Antoine Borde said: “Lightbox led the lab-grown diamond jewelry sector six years ago with its $800 a carat linear pricing, and, today, we are pleased to introduce even lower prices, that more closely align with current jewelry industry dynamics.
“Equally, we’re very proud to be working with the GIA to verify the quality and consistency of our stones, which supports purchase confidence and allows us to continue our mission of providing clarity, transparency, and value to our customers.”
More on Lab-Grown
The Latest
CollectionsJun 27, 2024
De Beers Jewellers Honors Southern Africa in New High Jewelry CollectionThe “Forces of Nature” collection was inspired by the place where De Beers sources most of its diamonds.
GradingJun 27, 2024
GIA Debuts Jewelry Report ServiceThe pilot program will provide grading information for diamond jewelry.
SourcingJun 27, 2024
De Beers’ Rough Diamond Sales Sink 31%The company sold $315 million in rough in the fifth sales cycle of the year, down from $456 million in the same period last year.
Brought to you by
The End of an Era? Lab-Grown Diamonds' Journey Towards Price StabilityAs the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
MajorsJun 26, 2024
Q&A: Watches of Switzerland CEO Brian Duffy Talks Jewelry StrategyDuffy spoke candidly about the company’s plans to watch and learn, his love for the U.S. market, and what he learned from his mom.
Weekly QuizJun 20, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesJun 26, 2024
EU Pushes Back Sept. 1 Diamond Traceability Deadline, US Yet to ActThe European Union has delayed its deadline for implementing a “robust” traceability mechanism for rough diamonds by six months.
SurveysJun 26, 2024
Consumer Confidence Slips in June Amid Rising PricesThe costs of food and groceries remained a top concern, followed by the labor market and U.S. politics.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionGIA®’s most advanced microscope has new features to optimize greater precision and comfort.
SourcingJun 26, 2024
Lucapa Sells Stake in Mothae MineThe Australian miner has signed over its 70 percent share in the diamond deposit to Lesotho company Lephema Executive Transport.
Events & AwardsJun 26, 2024
2024 AGTA Spectrum Awards Open for EntriesThis year marks the 40th anniversary of the jewelry design contest.
SurveysJun 25, 2024
Jewelry a Top Performer in ‘Stalled’ Luxury Market, Says Bain & Co.Its recent report dives into the current dilemma facing luxury brands.
ColumnistsJun 25, 2024
The Smart Lab: 4 Strategies To Boost Your Jewelry Site’s SEO RankingsEmmanuel Raheb runs down the list of tried-and-true SEO tips and details a couple lesser-known tricks.
SourcingJun 25, 2024
Miriam ‘Mimo’ Caplan Joins Family Business as VPThe founder of Mimo Gem Traders is the newest executive at Evan Caplan Company.
CollectionsJun 25, 2024
Boucheron’s ‘Or Bleu’ Collection Is an Ode to WaterThe 2024 high jewelry collection features pieces representing water in many forms.
WatchesJun 25, 2024
Formula One Driver Latest High-Profile Investor at Chrono24Charles Leclerc and his brother, Lorenzo Leclerc, have sunk money into the watch marketplace.
MajorsJun 24, 2024
See What Inspired Tiffany & Co. Silver Designer Edward C. Moore A collection of the silversmith’s personal objects, as well as items created during his time at Tiffany, are on display at the Met.
MajorsJun 24, 2024
JA to Offer Beginner Bench Jeweler Certification at GIA Carlsbad HQThe on-site exam will be administered from Aug. 8-9.
SourcingJun 24, 2024
Gemfields' June Ruby Auction Fetches Nearly $69MThe sale marks the miner’s 10th anniversary of its first auction of rubies from the Montepuez Ruby Mine in Mozambique.
CollectionsJun 21, 2024
Say Howdy to Zadok Jewelers’ New ‘Texas’ CollectionCowboy boots, horseshoes, and longhorn motifs make an appearance in the Houston-based jeweler’s new line.
SourcingJun 21, 2024
Julius Klein Partners With WJA on New InternshipThe Ella Klein Internship will take place in New York this summer.
CollectionsJun 21, 2024
Piece of the Week: Eriness’ ‘Snake Coil’ NecklaceJoin Eriness’ garden party with this emerald-eyed snake.
GradingJun 21, 2024
ASA Elects New Gems and Jewelry Discipline Governor, Members-At-LargeWarren H. Morss is the new governor, while Monica L. Caldwell and Mark T. Cartwright are the members-at-large.
Policies & IssuesJun 20, 2024
5 Safety and Preparedness Tips for Jewelers This Hurricane SeasonJewelers Mutual is advising jewelers along the coast to prepare for above-normal hurricane activity this year.
MajorsJun 20, 2024
Sara Yood Appointed JVC CEO As Tiffany Stevens Moves OnThe leadership change at the organization charged with guiding the industry on legal issues will take effect next week.
SourcingJun 20, 2024
Jewelry Expert Helen Molesworth to Release First Book“Precious: The History and Mystery of Gems Across Time” will be available on Sept. 17.
MajorsJun 20, 2024
Claire’s CEO Ryan Vero Steps DownChief Financial Officer and Chief Operating Officer Chris Cramer has been named interim CEO.
Policies & IssuesJun 18, 2024
JA, Industry Leaders Take Russian Diamond Import Concerns to D.C.The group met with lawmakers to raise awareness about the financial, operational, and supply chain harms posed by an EU proposal.
