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De Beers testing lower lab-grown prices for Lightbox

De Beers is considering reducing the prices of the lab-grown diamonds it sells via its Lightbox jewelry brand

“The wholesale prices of lab-grown diamonds are falling sharply, leading to financial challenges at some leading lab-grown diamond producers,” parent company Anglo American noted in its 2023 results. “These price declines are expected to lead to further substantial reductions in retail prices, with De Beers’ Lightbox brand testing significantly lower prices for its products.”

These reductions will “further reinforce consumers’ understanding of the fundamental differences between lab-grown and natural-diamond jewelry,” Anglo American continued.

Lightbox currently sells most of its stones for $800 per carat at retail, with the Finest line of higher-quality items going for $1,500 per carat. It also sells lower-quality Lightbox Basics stones for $600 per carat.

Under the test, the standard products will retail for $600 per carat for loose stones, while the Finest line will carry a price tag of $1,000 per carat for both loose stones and set jewelry, a De Beers spokesperson told Rapaport News Thursday. “The test is focused on ensuring Lightbox reflects prevailing [lab-grown diamond] sector dynamics,” the spokesperson added.

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