Diamonds for sale: lab-grown gem auctions are all over TikTok right now, but some aren’t happy about it
Summary
Lab-grown diamonds are being sold quickly in live auctions on TikTok, often for a fraction of the price of natural diamonds. These auctions draw many viewers and buyers, making diamonds more affordable and accessible to a wider audience.Key Facts
- Lab-grown diamonds have the same chemical makeup as natural diamonds but were less valued until recently.
- TikTok live auctions for lab-grown diamonds last about 10 to 15 seconds.
- Prices for lab-grown diamonds in these auctions typically range from $100 to $200 per carat.
- The auctions often start at just $1 and involve lively hosts encouraging viewers to bid.
- Many people watch these auctions for entertainment, even if they do not buy.
- Some buyers have purchased multiple diamonds and enjoy collecting different colors and shapes.
- The live auction format creates a sense of urgency because items sell quickly.
- Lab-grown diamonds are making the diamond market more affordable and open to more people than before.
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