Cost Comparison: Lab-Grown vs Natural Diamonds

Lab Grown vs Natural Diamonds

Before anything else, it is essential to establish that a lab-grown diamond is a real diamond. Lab-grown diamonds have the same physical and chemical properties as natural diamonds after they’re cut. The only difference between them is their origin and cost.

Origins

It takes millions of years for natural diamonds to form deep within the Earth. Carbon crystalizes due to the intense pressure and heat in the Earth’s mantle and forms a radiant stone.

The intense pressure and heat in the Earth’s mantle are replicated in a laboratory to form a lab-grown diamond. Through the Chemical Vapor Deposition (CVD) and High-Pressure High Temperature (HPHT) processes, intense pressure, heat, and carbon-rich gas are used to create diamonds in just a few weeks.

Quality

Lab-grown diamonds will pass standard diamond testers, such as electrical and conductivity tests because they have similar physical, optical, and chemical properties as natural diamonds. Lab-grown diamonds have the same crystal structure and hardness as mined diamonds because they are both made of pure carbon.

Similarly, it is impossible for you and me to distinguish a lab-grown diamond from a natural diamond. Only a professional gemologist with specialized equipment can do so.

Like natural diamonds, a lab-grown diamond is certified and graded using the same processes. Each diamond is graded based on the 4Cs of diamonds: cut, clarity, carat weight, and color. So, lab-grown diamonds are also GIA-certified. However, the certification will state if the diamond is lab-grown or mined. 

How does a lab-grown diamond compare to natural diamonds?

Cut. A lab-grown diamond and a natural diamond can have excellent cuts. However, lab-grown diamonds can achieve a more precise cut because of fewer imperfections.

Clarity. Since they are grown in a controlled environment, lab-grown diamonds typically have fewer inclusions and higher clarity. On the other hand, natural diamonds may have various natural inclusions.

Carat Weight. A larger carat weight is easier and cheaper to achieve for lab-grown diamonds. Larger natural diamonds are more expensive because they are rarer. 

Color. Color grades are more consistent in a lab-grown diamond. On the contrary, mined diamonds are available in various colors. Colorless mined diamonds can be rare.

Cost

A lab-grown diamond costs significantly less than mined diamonds. Why is that so when both are real diamonds? There are several factors that contribute to the difference in costs.

Demand. There is a higher demand for mined diamonds than for a synthetic diamond. Many people still consider owning an engagement ring with a natural diamond as more prestigious, driving its demand over a lab grown diamond.

Production Process. Lab-grown diamonds are manufactured in a laboratory, thus the process can be completed in a few weeks. Natural diamonds take millions of years to form within the Earth’s mantle.

Production Efficiency. It takes a lot less time and cost to produce a lab-grown diamond than sourcing natural diamonds. All it takes is a laboratory to produce a synthetic diamond. Mining natural diamonds requires extensive land mass, infrastructure, and workforce.

 Rarity. Natural diamonds are rarer due to the complexity of their production process. Thus, they are more desirable, increasing their value. On the other hand, synthetic diamond can be mass-produced, making them readily available.

 Logistics. Building a laboratory is a one-time investment, and it can go on producing lab-grown diamonds for many years. Mining diamonds involves labor and equipment costs, regulatory compliance, and environmental rehabilitation. Thus, it is more expensive to make natural diamonds.

Longevity. Despite being physically and chemically similar, consumers still believe mined diamonds have a more lasting value than lab-grown diamonds. This perception is due to the origin and the millions of years it takes to form natural diamonds.

Resale Value. While lab-grown diamonds are becoming acceptable, more consumers still believe natural diamonds retain their value more.

 The difference in costs only pertains to the diamonds’ origin or production process. A synthetic diamond and mined diamond have similar cutting and polishing costs.

You can compare the cost of lab-grown and natural diamonds in simple terms: You can have a lab-grown diamond with fewer inclusions and flaws for the same amount as a mined diamond with a lower grade.

The choice between a lab-grown diamond and a mined diamond, with price as the main consideration, depends on what quality you value most in your diamond. If you are on a budget but clarity and carat weight are your priorities, it is best to consider an engagement ring with a lab-grown diamond. If you value the rarity and history of diamonds or if budget is not an issue, then go for a natural diamond.

Are you shopping for diamond jewelry? Van Drake Jewelers has an exquisite collection of lab-grown and mined diamonds waiting to be explored. We also make custom jewelry and jewelry repairs.

At Van Drake Jewelers, offering personalized service is a way of life. We can help you pick the perfect diamond jewelry that suits your taste, preference, and budget. We are a trusted name in the jewelry industry in the Saint Paul region.

Check us out and marvel at our vast diamond necklace, bracelets, and ring collections. You can also visit us at 1901 Robert St S West Saint Paul, MN 55118.

Whether you opt for a lab-grown diamond or natural diamonds, Van Drake Jewelers has them all for you.