As diamond experts with over 25 years of experience in the jewellery industry, we at Lords understand that choosing between lab grown diamonds and natural diamonds can be a significant decision. This comprehensive guide will help you understand the key differences, particularly focusing on the cost implications of choosing between these two options.
Understanding the Basics: What Sets Them Apart?
Before diving into the price comparison, it’s crucial to understand that lab grown diamonds and natural diamonds are chemically identical. Both are made of carbon atoms arranged in a crystal structure. The primary difference lies in their origin – natural diamonds form deep within the Earth’s surface over billions of years, while lab-created diamonds are grown using advanced technology in controlled environments.
The Price Difference Explained
When comparing lab-grown diamonds vs. natural diamonds, we consistently see that lab diamonds are significantly cheaper than their natural counterparts. Our diamond-growing experts have observed that lab-grown diamonds typically cost 60-75% less than naturally mined diamonds of comparable quality.
Price Comparison Breakdown
To illustrate this difference, let’s examine the average prices for a round diamond with similar specifications:
A 1-carat round diamond with excellent cut quality, VS1 clarity, and F colour grade:
– Natural Diamond: £5,000 – £7,000
– Lab Grown Diamond: £1,500 – £2,000
This price difference becomes even more pronounced with larger diamonds. For instance, a 2-carat diamond with similar specifications:
– Natural Diamond: £15,000 – £20,000
– Lab Grown Diamond: £3,500 – £5,000
Why Are Lab-Grown Diamonds Cheaper?
The substantial price difference between lab-grown diamonds and natural diamonds stems from several factors:
Production Time and Process
Natural diamond mining requires extensive resources and time. Diamond cutters must process enormous amounts of earth to find suitable rough diamonds, while lab-created diamonds can be produced in a matter of weeks using controlled environments with intense pressure and precise conditions.
Supply and Demand
The natural diamond market is carefully controlled to maintain value, whereas the lab grown diamond industry can increase production to meet demand. This flexibility in production contributes to lab grown diamonds being cheaper while maintaining the same chemical properties as their natural counterparts.
Quality Considerations
When examining lab-grown diamonds vs. natural ones, it’s important to note that both types can achieve the same quality standards. Both can be GIA-certified or IGI-certified, and both are graded using the same criteria for:
Colour Grade
Lab-grown diamonds can achieve the same colour grades as natural diamonds, from D (colourless) to Z (light yellow or brown). In fact, some lab-grown diamonds achieve better colour consistency than natural diamonds due to the controlled growing environment.
Clarity
Both types can achieve identical clarity grades. To the naked eye, a VS1 lab-created diamond appears exactly the same as a VS1 natural diamond.
Investment Value and Resale Considerations
One crucial aspect to consider when comparing lab-grown diamonds to natural ones is their long-term value. While natural diamonds generally maintain a more stable value over time, the resale value of lab diamonds has been a topic of discussion in the diamond industry.
Natural Diamonds’ Value Retention
Natural diamonds have historically held their value well due to:
– Limited supply from natural diamond mines
– Established market presence
– Traditional preference for natural diamonds
– Controlled release of stones into the diamond market
Lab Grown Diamonds’ Value Proposition
The question “Do lab diamonds hold their value?” is complex. While lab-grown diamonds lose more value initially, they offer:
– Significantly lower initial investment
– Perfect diamond quality at a fraction of the cost
– Environmental benefits through reduced mining impact
– Advanced technology backing their production
Environmental and Ethical Considerations
When comparing natural and lab-grown diamonds, we must consider the broader impact:
Natural Diamond Mining
Traditional diamond mining involves:
– Extensive land use
– Significant water consumption
– Heavy machinery operation
– Complex supply chains
Lab Diamond Growth
Lab-grown diamonds offer:
– Reduced environmental impact
– Controlled production conditions
– Transparent supply chain
– Lower carbon footprint
Making the Right Choice: Lab Grown vs Natural
When helping our clients choose between lab-grown diamonds and natural for their diamond engagementringsg, we consider several factors:
Budget Considerations
If you maximise carat size and quality within a budget, the priority lab-grown diamonds offer exceptional value. Their lower price point allows for the following:
– Larger carat weight
– Higher clarity grades
– Better colour grades
– Superior cut quality
Traditional Value
For those who prefer natural diamonds, the appeal lies in:
– Traditional symbolism
– Market stability
– Natural formation process
– Historical significance
Common Misconceptions
It’s important to address some common misconceptions about lab-grown diamonds:
“They’re Fake Diamonds”
Lab-grown diamonds are not diamond simulants like cubic zirconia. They are chemically identical to natural diamonds, sharing the same crystal structure and optical properties.
“They’re Synthetic Diamonds”
While technically accurate, the term “synthetic” can be misleading. Lab-created diamonds are real diamonds, just with a different origin story.
“They’re Easy to Spot”
Without specialised equipment, even diamond experts cannot distinguish between lab-grown and natural diamonds, as they share identical chemical properties and trace elements.
Future of Diamond Prices
The diamond industry continues to evolve, affecting both natural diamond prices and lab-grown diamond prices:
Natural Diamond Market
Natural diamond mines are becoming scarcer, potentially leading to:
– Increased natural diamonds cost
– Greater emphasis on rare specimens
– Continued market control
Lab Grown Market
The lab-grown diamond market is experiencing:
– Improving production efficiency
– Decreasing production costs
– Expanding market acceptance
– Technological advancements
Making Your Decision
When choosing between lab-grown diamonds vs natural diamonds, consider:
Personal Values
– Environmental impact preferences
– Traditional vs modern perspectives
– Budget priorities
– Long-term investment goals
Practical Considerations
– Desired carat size
– Quality preferences
– Budget constraints
– Intended use
Conclusion
The choice between lab grown diamonds and natural diamonds ultimately comes down to personal preference and priorities. Both options offer genuine diamonds with identical chemical properties and beauty. The significant price difference makes lab grown diamonds an attractive option for those seeking larger diamonds or higher quality specifications within their budget.
At Lords, we’re committed to helping our clients make informed decisions about their diamond purchases. Whether you prefer natural diamonds for their traditional value or lab-grown diamonds for their cost-effectiveness and environmental benefits, we’re here to guide you through the selection process.
For personalised advice or to view our collection of both lab grown and natural diamonds, visit our showroom where our expert team can help you compare options side by side. Contact us today to schedule your consultation and discover the perfect diamond for your needs.
Address
162 Hutton Rd, Shenfield,
CM15 8NL, United Kingdom
Phone Number
+44 1277 217151
Frequently Asked Questions
Will Lab-Grown Diamonds Pass a Diamond Tester?
Yes, lab-grown diamonds will pass a diamond tester because they are chemically identical to natural diamonds. Lab-created and natural diamonds have the same crystal structure, hardness, and thermal conductivity. This means that standard diamond testing equipment cannot distinguish between the two. Only specialised equipment that looks for specific growth patterns and trace elements can identify whether a diamond is lab-grown or natural.
How Much Cheaper Are Lab-Grown Diamonds Really?
Based on our extensive market analysis, lab-grown diamonds typically cost 60-75% less than natural diamonds of comparable quality. For example, a 1-carat natural diamond with excellent cut, VS1 clarity, and F colour might cost £6,000, while its lab-grown counterpart with identical specifications would cost around £1,750. This price difference becomes even more significant with larger carat sizes, making lab-grown diamonds particularly attractive for those seeking larger stones.
Do Lab Grown Diamonds Look Different from Natural Diamonds?
To the naked eye, there is absolutely no visual difference between lab-grown and natural diamonds. Both types of diamonds are graded using the same criteria for cut, clarity, and colour. A master gemologist would need sophisticated equipment to distinguish between them. This is because lab-grown diamonds share identical optical properties with natural diamonds, producing the same fire, brilliance, and sparkle that diamonds are famous for.
What About the Resale Value of Lab Grown vs Natural Diamonds?
The resale market for lab-grown diamonds is still evolving, while natural diamonds are in a more established secondary market. Natural diamonds typically retain about 40-50% of their retail value, while lab-grown diamonds might retain less due to continued production efficiency improvements and decreasing production costs. However, it’s important to note that the significantly lower initial investment in lab-grown diamonds often offsets this difference in resale value.
Are Lab-Grown Diamonds More Environmentally Friendly?
Lab-grown diamonds generally have a smaller environmental footprint than mined diamonds. They require less water usage, no earth displacement, and can be produced using renewable energy sources. However, they do require significant energy input for creation. The exact environmental impact depends on factors such as the energy source used in production and the specific growing process. At Lords, we partner with producers who prioritise sustainable practices and renewable energy sources in their diamond-growing processes.