Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

Lab Created Diamonds: Starting A Brand New Business

diamonds

Thousands of people are buying diamonds for their engagement rings every year. This tradition lasts for many years now, but a few years ago, diamond enthusiasts got a new option – lab created diamonds.  More and more people are buying these diamonds because they provide many benefits. For instance, they are less expensive and they are created in an ethical way.

As a result of this increased interest in lab made diamonds, many aspiring entrepreneurs are thinking about starting a brand new business focused on this specific kind of diamonds. So, what exactly does one need to start a business like this?

Lab Created Diamonds as a Business.

In case you are offering lab created diamonds and you are focused on industrial use, you will have to be more specific about the physical and chemical properties of these stones. For instance, you should know the cutting ability and the hardness of these stones. In addition, in case you want to sell these diamonds to jewelry stores, you must put your focus on the physical appearance of your product. Of course, regardless of your intention, the price of these diamonds will always put you in a more comfortable position compared to real, natural diamonds.

Keep in mind that selling this type of diamonds can be a profitable venture. However, in order to start a business like this, you have to learn more about these specific gems. Don’t forget that any kind of fungible value, but they are considered to be an item with high liquidity levels.

If you are reselling lab created diamonds, it’s a smart move to opt for an appraisal. There are many qualified and certified appraisers as well as gemologist laboratories that can help people determine the true market value of these stones. The appraisal report that you’ll get will contain the 4 C property evaluation.

It is also an option to call the ASA (American Society of Appraisers) and ask them for a certified appraiser near you. To put it in simple words, you must provide certificates for your diamonds if you want to make the most of them. Without a certificate, you won’t be able to sell them at a good price.

After that, potential sellers should create a draft which includes a detailed description of each diamond product found in their offer. Make an ad which will include useful photos and helpful information. Diamond sellers can use the same marketing channels as any other seller – local magazines and newspapers, TV commercials and of course – online commercials.

Since online selling is the most popular form of selling things today, it is worth mentioning that there is more than one way to sell lab created diamonds over the Internet. Some people prefer using popular auctions websites like eBay for example or marketplaces like Amazon. But, it is possible to create an online store on your own with the help of some of the most popular eCommerce platforms like Shopify and Magento.


Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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