The price difference between lab grown and natural diamonds has been one of our most-asked questions, and rightly so. Dramatic advancements in technology in the last few years have seen lab grown diamond prices fluctuate, bringing about a lack of clarity on how the costs compare.
Bespoke Lab Grown Diamond Engagement Ring
To help you make a clear and informed decision when choosing your diamond engagement ring, our comprehensive diamond pricing guide covers:
- - THE NUMBERS
- - WHERE THEIR VALUE COMES FROM
- - THE FINAL WORD
THE NUMBERS
As it currently stands, the lab grown diamonds we source for our clients cost at least 50% less than their natural diamond counterpart. This can be further impacted by the size of the diamond or whether it has a GIA or IGI certificate, meaning that the total price difference could be closer to 60 or 70% less than a natural mined diamond of the same cut, colour, carat and clarity.
You can read more about these characteristics, known as the 4 C’s, here.
How does that look in real terms of pricing? Let’s take our new Imogen Ring, for example. The ring is pictured with a 2ct Radiant Cut White Diamond, although the size of the central stone can be completely customised.
The prices given below are not final, as we price each ring on a custom basis for clients' varying budgets and to accommodate fluctuation in diamond prices or availability, but they do illustrate of how lab grown and natural diamonds can affect the final cost of the ring.
- Total cost featuring a GIA Certified 2ct natural diamond: £26k
- Total cost featuring a GIA Certified 2ct lab grown diamond: £6k
The price difference is most noticeable in higher carats, but at 1ct or under the price difference is less dramatic. Let’s consider our popular Joy Round Ring, priced with a 0.75ct Round Cut White Diamond:
- Total cost featuring a GIA Certified 0.75ct natural diamond: £6750
- Total cost featuring a GIA Certified 0.75ct lab grown diamond: £2800
WHERE DOES THEIR VALUE COME FROM?
The difference in pricing above is a result of the rarity of a 2ct natural diamond, and when we consider all of the factors that impact price, supply is the most significant.
Bespoke Lab Grown Engagement Ring
Natural diamonds formed when the earth was much warmer, over the course of one to three billion years, so new natural diamonds will not be created in our lifetime or for many to come. This makes them a finite resource, and natural diamonds get their value from their rarity. Lab grown diamonds, by contrast, are not in a limited supply so their value comes from the physical characteristics alone, such as carat and clarity of each stone.
Bespoke Oval Cut Natural Diamond Engagement Ring
THE FINAL WORD
Much of the decision when considering price comes down to what you and your partner place value on. If carat or clarity are what you love but budget is a limiting factor, it’s certainly worth considering a lab grown diamond for your engagement ring. If you’re captivated by the history and rarity of a diamond instead, or budget is not a limiting factor, then a natural diamond could be for you.
WHAT NEXT?
Still need some help deciding what’s for you? Check out our lab grown and natural diamond guides, as price isn’t the only factor to consider when choosing whether to go for a natural or lab grown diamond:
- - Natural vs. Labgrown Diamonds: An Introduction
- - How to Tell if a Diamond is Natural or Lab Grown?
- - Life in Colour: Lab Grown vs Natural Diamonds
BOOK YOUR APPOINTMENT
Our team are always on hand to help. Book your complimentary appointment at our Shoreditch showroom or digitally via Skype or WhatsApp where our small team of jewellery specialists and gemologists will be able to talk through your decision with you.
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