Steven Singer Jewelers, based in Philadelphia, USA, is giving away hundreds of one-carat lab grown diamonds, pledging it will never sell stones that "will be worthless one day".600 one-carat lab growns are being given away with any purchase from its range of mined diamond engagement rings, with a starting price of $548.
To kick things off, the retailer also gave away 100 half-carat stones on a no-purchase-necessary first-come, first-serve basis on Saturday (12 August).
: "There's been a debate in the industry but I knew anything that can be mass produced infinitely will rapidly lose value, which is exactly what happened as production scaled. Lab grown diamond value continues to plummet and I just don't feel right about selling them knowing they will be worthless one day."said Singer
The company claims the 600 lab growns they're giving away were worth $3m just five years ago, and have since plummeted in value, though it does not say what they're now worth.
"Steve only sells REAL Natural Earth Born Diamondsâ„¢. Steven has never, and will never sell lab grown diamonds, but he WILL give them away for FREE!"
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