Justin Solomon
They are known as a girl's best friend. They can also cost a fortune! But do they have to? Maybe not. 7's Christa Delcamp shows you how soon you may be able to get your hands on "Diamonds at a Discount".
They sparkle, they shine and they have "status" written all over them. The ultimate symbol of eternal affection...
But what if the diamond on your finger wasn't "mined", but man-made?
"I would be happy because it's a diamond, but I would rather have a natural one."
"I wouldn't be totally disappointed because it's more of the thought that counts."
Bryant R. Linares, CEO, Apollo Diamond
"It's incredible to think that here in Boston, we actually have what amounts to a diamond mine."
That diamond mine, not lodged in the earth, but in the lab of a Boston area company with a top secret location. Bryant Linares heads up the company called Apollo Diamond and says it can create diamonds faster and better than nature.
Bryant R. Linares
"The process we use actually creates a perfect diamond."Christa Delcamp
"So you can make a diamond without flaws?"Bryant R. Linares
"Yes, we can."
Looks real, feels real, technically, it is a real diamond, but one expert says you can't replace the mystique of a diamond with science and technology.
Merritt Mayher, Shreve,Crump & Low
"A natural diamond is a miracle of nature, a man made diamond is a creation of machines. I think that this as a gift would be a comparable to something in costume jewelry or cubic zirconium."Robert Linares, Chairman, Apollo Diamond
"I think people in the industry professionals, who've had businesses for generations, are threatened by change and they don't understand."
But can these diamonds fool the experts? When we brought an Apollo diamond to two local appraisers, neither could tell it was man made. Although they wouldn't go on camera, one told us they were unimpressed by the diamond's quality.
The exact cost of the new diamonds? Not "set in stone", but they could run 25-30 percent less than their natural counter parts.
A loose, quarter carat, near colorless natural diamond with some small flaws may cost about $700, the Apollo equivalent closer to $500. Making them your wallet's "best friend".
Robert Linares
"We intend to make them affordable to the average consumer, so that the average consumer can get a really stunning, large diamond for affordable prices."
Apollo says look for these gems to hit the market in limited supply just after the New Year.
