💎 Diamond Market Update: What’s Happening in 2026?
As a jewellery valuer working closely with both trade and clients, I’ve been having more and more conversations about how the diamond market is evolving, and it’s certainly not what it was even a few years ago.
One of the biggest shifts has been the continued rise of lab-grown diamonds. These now account for a significant portion of jewellery sales (particularly in engagement rings), offering consumers a much more affordable option, often 70–90% less than natural equivalents.
However, this affordability has come with a sharp price decline. Lab-grown diamonds have seen substantial drops in value, with wholesale prices falling around 26% year-on-year in 2025, and much larger declines over the past few years.
Natural diamonds have also experienced some softening, with certain categories (especially commercial goods) seeing price reductions of around 20–25% in 2025.
So what does this mean in practice?
🔹 Lab-grown diamonds
🔹 Natural diamonds
A changing mindset
What’s particularly interesting is the shift in consumer behaviour. Clients are now much more informed and are making decisions based on a mix of budget, ethics, and long-term value, rather than tradition alone.
We’re effectively seeing the market split into two clear lanes:
➡️ Affordable, design-led lab-grown pieces
➡️ Rarity-driven, heritage-focused natural diamonds
From a valuation perspective…
This evolving landscape makes accurate, up-to-date valuations more important than ever. With prices fluctuating and differences in long-term value between natural and lab-grown stones, it’s essential that clients understand exactly what they own.
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