Lightbox, a leading provider of lab-grown diamonds, has made waves in the industry by slashing prices on its high-quality stones by as much as 40 percent. The company tested reduced prices in the fourth quarter of 2023 and has now officially adopted these cuts across the board.
The steepest drop in prices is seen in Lightbox’s “Finest” lab-grown diamonds, which now sell for $900 a carat, down from $1,500 per carat. This represents a significant price reduction of 40 percent. Additionally, prices for other high-quality stones have also been slashed, with I-J color diamonds now priced at $500 a carat, down from $800, and G-H color stones priced at $600 a carat, down from $800.
Despite already offering competitive prices, Lightbox’s decision to lower prices even further is expected to shake up the market. Industry analyst Edahn Golan noted that even before the price cuts, Lightbox was selling its lab-grown diamonds well below the retail average, giving retailers a healthy gross margin.
In addition to the price cuts, Lightbox announced that it will now be obtaining batch quality verification for its lab-grown diamonds through the Gemological Institute of America (GIA). This move aims to increase transparency and confidence in the quality of Lightbox’s stones, further solidifying the company’s position in the market.
Overall, Lightbox’s decision to reduce prices and enhance quality verification through GIA signals a major shift in the lab-grown diamond industry. With an emphasis on affordability, transparency, and value, Lightbox continues to lead the way in providing customers with top-quality lab-grown diamonds.
