Cost Comparison of Lab-Grown Diamonds versus Mined Diamonds
The cost comparison of lab-grown diamonds versus mined diamonds are not rare a frequently asked question among diamond buyers. In this article, we’ll provide real examples of both jewellery prices to enable you to make an informed decision on whether man-made or mined diamonds are right for you.
Mined diamonds tend to have higher costs due to the process of extraction and transportation from the earth’s surface to a jeweller’s workshop. These additional expenses add up to an extensive portion of the overall price tag for mined diamond jewellery.
1. The Cost of the Diamond
When purchasing a Lab diamonds vs real diamonds, two main factors to consider are cost and value. You can save a considerable amount of money by opting for lab-grown stones.
However, you should be aware that the resale value of lab-grown diamonds has yet to be established. This is due to the new technology these diamonds utilize.
When purchasing a diamond, the cost depends on several factors including carat weight, colour and clarity. If you wish to acquire an expensive or rare gem, expect to shell out more money for it.
In many cases, lab-grown diamonds can be up to 70% cheaper than natural diamonds. This means you can save a considerable amount of money when purchasing an engagement ring.
2. The Cost of the Setting
Comparing lab-grown diamonds to mined ones can be a daunting task. But it is essential to remember that both types of stones are graded and priced based on four characteristics – carat weight, cut, colour, and clarity.
The cost of a lab-grown diamond depends on several factors, including the manufacturer, method of production (CVD or HPHT), and level of expertise with diamond growth. Generally speaking, higher quality lab-grown diamonds will be more costly than their less expensive counterparts.
Due to the unlimited supply of lab-grown diamonds, their prices continue to decline, offering an affordable alternative to more costly natural diamonds. If resale value isn’t an issue for you, lab-grown diamonds could be the right option for you. But keep in mind that they’re relatively new in the jewellery industry so it may be difficult to identify high quality products – which is why working with a jeweller who sources lab-grown diamonds from reliable manufacturers is recommended.
3. The Cost of the Jewellery
When it comes to jewellery costs, lab-grown diamonds tend to be significantly cheaper than mined diamonds due to two reasons.
Lab-grown diamonds are created in a laboratory and thus require fewer touches than mined diamonds, meaning middlemen mark-ups are much lower and your lab-grown diamond will be much cheaper to purchase.
The second reason lab-grown diamonds tend to be cheaper is that they’re usually much rarer than mined diamonds, since they weren’t formed naturally within the earth and so don’t need to compete for buyers’ attention like natural mined diamonds do.
These two factors make lab-grown diamonds typically 20-40% cheaper than mined diamonds, making them a more appealing alternative for many consumers. Furthermore, they’re sustainable options which makes them an eco-friendly option for those wanting to make an environmentally conscious purchase. It’s no wonder then that lab-grown diamonds are currently experiencing strong growth within the jewellery industry and are expected to keep increasing in value over time.
4. The Cost of the Engagement Ring
When purchasing an engagement ring, prices can vary drastically based on the style and size of diamond you select. It is essential that you do your research and select a ring that both you and your significant other adore.
If you’re searching for a more budget-friendly alternative to natural diamonds, lab-grown diamonds may be your perfect match! These man-made gems are chemically, physically and optically identical to their mined counterparts in various shapes and sizes to accommodate all budgets.
When selecting a lab-grown diamond, the carat weight and colour grade should be taken into account. The higher the carat weight, the pricier it will be; however, if you want to save money without compromising quality or style then opt for diamonds in the G-J range (which appear incredibly colourless at fraction of cost of mined counterparts).