Lab grown diamonds have become everyone’s favourite. One of the primary reasons for this is because they are so affordable. Why are lab grown diamonds cheaper? And if they do cost less, are they worth your money? If you’re wondering ‘are lab grown diamonds cheaper because they compromise in quality?’ and if you are still confused between buying a mined diamond or a lab grown diamond, you’ve come to the right place. We have made this task super simple for you and gathered all the research to answer all of the dilemmas you have about lab-created diamonds and if they are worth your money.
Many people wonder that if lab-grown diamonds are cheap then there must be some hidden catch in lab-grown diamonds. To clear that confusion here is a brief comparison of lab grown diamonds and mined diamonds.
Lab-grown diamonds are created in high-pressure chambers inside which chemicals and gases are subjected to mimic the conditions beneath the surface of the earth. Inside this high-pressure chamber is a small diamond seed which is the starting point of any lab-grown diamond. These seeds act as the foundation of the diamond and when subjected to various chemical processes, crystallization starts to happen on the seed and hence a diamond is formed. When the chemical composition of a lab-grown diamond and mined diamond is compared it is absolutely the same. Both these diamonds consist of carbon atoms and hence it’s safe to say that chemically speaking, lab grown diamonds and mined diamonds are the same. Check this guide to know more about CVD and HPHT Diamonds.
Contrary to popular belief lab grown diamonds are of better quality than mined diamonds and this is because lab grown diamonds are created in controlled conditions which are monitored by diamond experts whereas mined diamonds actually might have lower quality. After all, they are made in uncontrolled conditions.
Now, this is the real question, are lab grown diamonds cheaper? The very simple answer to this question is yes lab grown diamonds are cheaper than their mined diamonds. If you take a diamond of 1-carat weight and compare its prices in a lab-grown version of the diamond versus a mined version of the diamond, there will be a huge price difference. What is the actual reason behind this price difference? The main difference that makes lab grown diamonds cheaper is manufacturing cost. Lab grown diamonds are created in a matter of weeks in labs whereas mined diamonds are created hundreds of years ago that too below the surface of the earth.
Here is where the first cost comes in. The cost of procuring mined diamonds is much higher because to obtain mined diamonds is a long process that includes identifying a land beneath which diamonds might exist and then setting up the mining site. A mining site requires a few weeks of preparation where a mine is dug using the machinery allocated to the area and tens and hundreds of people are required to monitor the mining site and also work at the mining. Here is where the second cost comes in, which is human labour. Adding onto this processing, mined diamonds are also more expensive because a rough mined diamond requires a lot of polishing and cutting to give them its final look.
When this entire process of mined diamonds is compared to the process of making lab grown diamonds it is much less elaborate and much cheaper as well. Lab grown diamonds are made in a lab that is monitored by not more than 30 people being involved in the entire process. The cost of setting up a lab for making diamonds is almost one-third of that of setting up an entire mining site. The last cost which is the processing cost is also less in lab grown diamonds and this is because lab grown diamonds are made in controlled conditions and hence polishing them and cutting them is also much easier.
Hence when you look at both of these processes it becomes obvious why lab grown diamonds will be cheaper than naturally mined diamonds. Now the second question is are lab grown diamonds worth your money? The answer to this is also simple, yes and this is because mined diamonds and lab-created diamonds are the same when it comes to their structure and hardness. These diamonds are so similar that international authorities like the gemological institute of America also compare them on the same scale for grading which is the 4C scale.
To give you a brief about what prices can look like between lab grown diamonds and mined diamonds show is a glimpse. A 1-carat princess-cut mined diamond will cost around $3800 whereas a princess-cut 1-carat lab-grown Diamond will cost around $1500. The most important point to focus on here is that both these diamonds have the same grading from the same authority which grades them and that is the gemological institute of America. You can clearly see that lab-grown diamonds cost almost 40% less than natural diamonds and both these diamonds have the same quality hence it’s safe to say that lab-grown diamonds are the real deal and they are very real diamonds. If you are looking for a great diamond for your engagement ring and that too at a great price we absolutely suggest you do go for a lab grown diamond. Lab-grown diamonds also have certain advantages over mined diamonds which are there ethically sourced and environmentally friendly which is all the more reason to buy lab grown diamonds for your perfect engagement ring.
If your initial question was ‘are lab grown diamonds cheaper?’ We hope to answer this as well as all your queries about lab-grown diamonds and their price. All of the information mentioned above has been well researched and curated for your convenience. We hope this simple guide about lab grown diamonds helps you in buying the perfect diamond for the engagement ring of your dreams.