When it comes to choosing a gemstone for the classic engagement ring style, Moissanite and Diamond are usually the couple’s top two choices. During the researching phase for these two gemstones, the key difference between Moissanite and Diamond quickly becomes obvious: The price.
Pricing psychology has a large impact in the evaluation because consumers often associate price with quality. The higher the price, the better the quality must be. Many couples view Moissanite using this assumption and assume because the price of Moissanite is lower, the quality must be subpar to Diamond.
Fortunately, Moissanite’s lower price point is not reflective of its quality. The lower price point is simply a reflection of supply and demand in the engagement ring industry. While we are seeing a shift toward using other gemstones for engagement rings, over 90% of couples are still choosing Diamonds. This keeps Diamond prices high, and less popular gemstones like Moissanite, White Sapphire, and colored gemstones priced lower. As long as a greater proportion of consumers demand Diamond, jewelers can set higher markups because they know consumers want this specific gemstone and are willing to pay for it.