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Synthetic diamond sales sparkle but oversupply delivers ice burn

Man-made competition hurts price of natural stones, though fears of bankruptcy mount among lab-grown producers

When Jenny King-Modlin got engaged two years ago, her partner slipped a 1.3-carat diamond ring on to her finger to signify his love for her.

But unlike the bridal rings that have dominated the global market for decades, hers was manufactured in a factory rather than dug out of the ground — and one-third cheaper.

“To me, it looks like a diamond, it sparkles like a diamond and makes me feel like I’m wearing a diamond,” says the 36-year-old writer and actor, who lives in New York. “It wasn’t just an ethical decision, it was financial, and we fell in love with that exact ring.”

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