Lab-Grown Diamonds vs. Diamonds – Price Difference

If you’re considering a diamond purchase, but are not sure which type to choose, price could be a major factor that influences your decision.

This has become more complex in recent years thanks to the availability of high quality man-made diamonds, which are created in a lab rather than mined. Let’s take a look at how their price differences shape up, and what other aspects you need to consider to help shape your choice at the checkout

Breaking Down the Price Difference of Lab-Grown Diamonds vs. Diamonds

Checking out VRAI’s collection of lab-created diamonds will show you just how much variety is encompassed by this fast-growing industry. But how does this play out from a pricing perspective when compared against diamonds that are not man-made?

When it comes down to costs, diamonds tend to be more expensive than lab-grown equivalents due to both their scarcity and the labor costs associated with mining them. It’s energy intensive and also an ecologically questionable approach, yet one which has been going on for centuries. So from a purely economical perspective, man-made diamonds can be priced lower because they do not cost as much to produce.

So what about the actual gap between gems in these two categories? Well, on average you may find that mined diamonds cost around 30% to 50% more than those created in laboratories using advanced technology such as HPHT or CVD methods.

However, there are other factors that come into play when assessing value for money. This includes aspects such as color intensity & clarity ratings. As such it pays to do your research before making any purchases.

The Additional Benefits of Investing in Lab-Grown Diamonds

There are a number of other perks that come with picking high quality, sustainably created diamonds. Knowing about them could sway your decision, or at least help you to make a choice with all the information to hand.

First, choosing man-made gems gives you flexibility because they can be selected and adjusted according to your preference. From the size and shape right down through carat considerations, you can take the reins, or simply trust that the designer has done all that’s needed to cater to modern audiences.

Next, there are no environmental concerns, as no energy resources were needed for extraction. In fact, we live in an age where zero-emission lab-grown diamonds are on the market. So if you’re eager to keep your eco conscience clear, both in terms of the jewelry you wear and the home you live in, then this is the obvious route to take.

It’s also worth mentioning that man-made diamonds are produced using techniques that mimic what happens when diamonds are formed underground. This means that even inclusions, or small imperfections, are a feature they offer. As such they really are a no-compromises alternative.

Buying Diamonds: What is a Suitable Budget?

Speaking of budgeting, it’s worth talking a little about how this might come into play more generally if you’re looking into purchasing lab-grown diamond jewelry, or any other type of adornment for that matter.

What you’re willing to spend really comes down to personal preference, and should not be overly influenced by wider trends or any kind of peer pressure.

There’s the old myth that spending the equivalent of two month’s salary on an engagement ring is the right thing to do, for example. But this isn’t especially helpful as a guide, chiefly because it was conjured up as a marketing gimmick by jewelry companies, and can end up making people feel pressured into stretching their budget beyond limits that they’re comfortable with.

The national average is $5,500, but even this is not an especially representative figure, because it is heavily skewed by people who spend tens or even hundreds of thousands on jewelry, while the realistic budget for a person on a typical wage will be well below this.

You also have to think about other costs that you’ll incur after buying diamonds, whether they are created in a lab or mined. The wedding day will be a major expense, for instance, and unless you’re getting some serious help with this from your family, then you don’t want to go overboard on an engagement ring just because you feel like it’s expected of you.

Thinking About the Future

Aside from the price, when choosing man-made diamonds you also need to be cognizant of how the design of the ring will be perceived not only in the coming weeks and months, but also in years and decades down the line.

For a lot of people, an engagement ring or a wedding ring will become an heirloom; one that has an important meaning both for them, and ideally for the generations that follow.

If you’ve chosen a sustainable engagement ring, this could be an especially sensible choice given the way that climate change is likely to influence the world in the next century. Your children, grandchildren and great-grandchildren will appreciate that you had them in mind when opting for a piece that was not just competitively priced, but also better for the planet.

And of course with the aforementioned customization options, you’re able to pass down something that’s one of a kind, including a unique diamond shape not seen anywhere else.

Broadening Your Horizons

One of the knock-on effects of lab-grown diamonds being offered at more favorable prices is that this means you don’t only need to choose them for jewelry pieces only intended for special occasions.

You can afford instead to buy them for gifts that are still meaningful, but don’t come with the same weight of expectation attached. Also this means you might be more comfortable wearing them out and about, and thus enjoy them rather than leaving them locked away, never to be seen.

The Bottom Line

It’s still worth shopping around to get the best quality lab-grown diamond at a good price and in a design that appeals to you. But the fact that this is easier to do today than ever before is worth celebrating.