Diamonds for sale: lab-grown gem auctions are all over TikTok right now, but some aren’t happy about it
Streamed auctions offer a cheap way to buy the precious gems, but experts warn that quality is not guaranteed
TL;DR
- TikTok hosts rapid live auctions for lab-grown diamonds, selling stones for $100-$200 per carat.
- These auctions offer a significantly lower barrier to entry into the diamond market compared to traditional natural diamonds.
- The live auction format is interactive and exciting, with auctioneers encouraging bids and viewers drawn to the instant gratification.
- Some consumers have become prolific buyers, purchasing dozens of stones and enjoying the process as a nightly routine.
- While the stones are affordable, the cost of setting them in jewelry, especially gold, can be substantial.
- Experts caution that the speed and lighting of TikTok auctions may hide imperfections, and certificates don't tell the whole story.
- Consumers may get great deals or, conversely, low-quality diamonds, as they may not know what to look for.