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Cubic zirconia (CZ) is the cubic crystalline form of zirconium dioxide (ZrO2). The synthesized material is hard, optically flawless and usually colorless, but may be made in a variety of different colors. Yes they are but in comparison to a diamond, they are not worth as much. For e.g, a 1 carat CZ can cost about $20 - $30, whereas a 1 carat good quality diamond can cost about $2500 - $3500.
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