A woman from Liaoning province recently complained about her diamond engagement ring that she had custom-made in Hong Kong for over 36,000 Chinese yuan six years ago, now being valued at only four to five hundred yuan when she tried to sell it back. The jeweler explained that the main value lies in the platinum material of the ring setting, with the diamond itself having close to zero value. This incident sparked a heated discussion on the depreciation of diamonds on the internet.
In a video circulating online, the woman explained, “I bought this ring in 2019 when I got married, my husband insisted on buying it, and we had it custom-made in Hong Kong. Now, I no longer like it and wanted to sell it, hoping to get a few thousand yuan for it, but to my surprise, I could only sell it for four to five hundred yuan. People aren’t interested in the diamond but rather the platinum setting.” The woman jokingly added, “Now I finally understand why they say ‘Diamonds are forever,’ because I can’t even sell it.”
This news quickly went viral, drawing media attention to the issue.
In recent years, with the skyrocketing annual production of lab-grown diamonds, the price of diamonds has been significantly reduced.
Henan’s Zhecheng is a major producer of lab-grown diamonds, with an annual output of over 12 million carats, accounting for over 60% of the national production. As a result, the online market price for a one-carat lab-grown diamond currently ranges from 1,000 to 2,000 yuan, with some sellers offering prices even below a thousand yuan.
A post by the blogger “Hot Topic Radar” indicated that 70% of lab-grown diamond consumers are young people, attracted by the difficulty of distinguishing them from natural diamonds and their cost-effectiveness. Post-’00s couples are leaning towards a trend of “simulated diamond rings + travel” for weddings. It is estimated that in 2025, 10% of newlywed couples in China will choose lab-grown diamond wedding rings. Gold, due to technological innovations such as ancient gold craftsmanship, has weakened its “old-fashioned” image, making it popular among the 25-35 age group, with high transparency in recycling and strong asset retention.