system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5 If diamonds and other gemstones can be lab created, and indistinguishable from their naturally mined counterparts, why are we still paying so much for these jewelry stones?

EDIT: Holy cow!!! Didn’t expect my question to blow up with so many helpful answers. Thank you to everyone for taking the time to respond and comment. I’ve learned A LOT from the responses and we will now be considering moissanite options. My question came about because we wanted to replace stone for my wife’s  pendant necklace. After reading some of the responses together, she’s turned off on the idea of diamonds altogether. Thank you also to those who gave awards. It’s truly appreciated!
gpt
Marketing and monopoly.  Diamonds are not unique or rare on this planet.  The DeBeers corporation has a long standing monopoly, and an incredible marketing campaign stressing that you should spend 2 months salary on a ring if you really love your future wife.  

Truth be told, lab grown diamonds are so perfect at this point, that DeBeers is spending millions trying to figure out how to tell the difference.