Moissanite vs Diamond : Mined diamonds can come with several hidden costs that may not be immediately apparent, while moissanite diamonds are typically more affordable and do not come with these hidden costs. Generally mined diamonds are more expensive at face value
But here are some of the hidden costs of mined diamonds as well:
- Environmental costs: The mining of diamonds can have significant environmental impacts, including habitat destruction, water pollution, and soil erosion. These impacts can be long-lasting and may not be fully accounted for in the cost of a diamond.
- Social costs: The diamond industry has a history of conflict diamonds, or diamonds that have been mined in war zones and used to fund armed conflict. While this issue has been largely addressed through the Kimberley Process, some concerns remain about the social and ethical impacts of diamond mining.
- Price inflation: Diamonds are often subject to price inflation due to the monopolistic nature of the diamond industry. This means that the price of a diamond may not accurately reflect its true value, and consumers may end up paying more than they need to.
- Resale value: Diamonds typically have a lower resale value than their retail price, meaning that if you decide to sell your diamond in the future, you may not recoup the full value of your investment.
- Certification and Appraisal: Mined diamonds often come with certification from organisations like the Gemological Institute of America (GIA) or the American Gem Society (AGS) to verify their authenticity and quality. This certification can add significant costs to the purchase of a diamond. Moissanite, on the other hand, does not require certification since it is a lab-created gemstone.
- Maintenance: Mined diamonds require regular maintenance and cleaning to keep them looking their best. This can include professional cleaning and polishing, as well as repair work if the diamond becomes chipped or damaged. Moissanite is a more durable gemstone that requires less maintenance, making it a more cost-effective option in the long run.
- Insurance: Mined diamonds are often more expensive to insure than moissanite diamonds due to their higher value. This can add to the overall cost of ownership of a diamond ring or other diamond jewellery.
Moissanite diamonds, on the other hand, are typically more affordable and do not come with these hidden costs. They are also produced in a lab, meaning that they do not have the same environmental or social impacts as mined diamonds. While moissanite may not have the same cultural significance or historical value as diamonds, they are a popular alternative for those who are looking for a beautiful and ethical gemstone that is more affordable than a mined diamond.
Overall, while the initial purchase price of a moissanite diamond may be lower than a mined diamond, the hidden costs associated with owning a mined diamond can add up over time. Choosing a moissanite diamond can be a more cost-effective and environmentally-friendly option in the long run and satisfy your desire to be more ethical and environmentally conscious with your purchases and investments.