Lab-Grown Diamond Prices and Value
Anyone thinking of buying jewelry should be interested in lab-grown diamonds. The price in particular would be of interest, especially when compared with natural diamonds. It could be an engagement ring that you wish to purchase or an ornamental piece of jewelry. Whatever it may be, you will discover that there is a remarkable difference in the price of lab-grown diamonds compared to natural ones.
Why is this so? Just how much would you save on LGD? And Should you even be comparing the 2 diamonds? These are some of the topics covered here along with a guide to pricing of these wonderful man-made stones.
Overview of Lab-Created Diamonds
Lab-grown diamonds are genuine gemstones that develop with the assistance of science. Unlike their earth-formed gems, these experience accelerated formation in a machine. The end result however is a diamond with the same composition as a natural stone. Even when put to the test, there is no difference in the makeup and quality of these stones. The pricing of the 2 diamonds however is what sets them apart.
Prices of Lab Grown Diamonds
Like any commodity of value, LGD will have different prices created by certain variables. The sellers and manufacturers for example can determine the prices of diamonds. You could find a lab-grown diamond as cheap as a thousand dollars or one as expensive as a hundred thousand dollars.
A key factor in determining the price of a lab-created diamond is its grading. The international gemological institute, IGI. examines diamonds both natural and lab-made and can determine characteristics such as color, shape, cut, and carat weight.
White diamonds are the most common and are graded based on how close they are to being transparent. The grading scale is from D right up to Z. the whitest lab grown diamonds are within a range of D to F. These make up the most expensive lot of white diamonds. On the other hand, the lower-grade diamonds are graded from N to Z. These exhibit a yellowish tint that makes them cheaper. Most buyers avoid both the highest grade and the lowest ones and opt for the middle range from G to J. The mid-range diamonds look almost as good as the higher end but cost less.
Shape is a closely related grading category. The most favored shape is the round shape which is because it provides the best sparkle. Round diamonds look better and will cost more. As diamond shapes become more edgy than round, the price also drops.
Carat is the weight of the stone and the heavier it is, the more it will cost. As of June 2022, the world’s heaviest lab grown diamond is a 30.18crt diamond grown by Ethereal Green Diamond company in India. That however may not make it the most expensive as other factors can determine the cost.
Clarity is among the factors that can affect the price of a diamond, even one as heavy as the 30.18 crt one. This refers to how pure the diamond is. Sometimes during the growing process, just as with natural diamonds, some impurities may get trapped in or added to the diamond and affect its clarity. Clear diamonds cost much more than those with blemishes.
At the end of it all, a combination of factors is responsible for the pricing of LGD. Even the manufacturer and the retail jeweler may have a hand in determining the price. Another factor that should always be taken note of is the cost of production. The higher that cost, the higher the final price.
Lab-Created Diamonds Vs. Natural Diamonds
Placed side by side, it would be an impossible task to tell the difference between the two types of diamonds. In most cases, the difference between the two diamonds would be brought to light by a trained gemologist using special tools. The competition between the two stones would come down to factors like price.
Since the lab-grown diamond does not require labor-intensive production methods, its price is far lower than the natural one.
Some people however argue that the fact that the diamond is subjected to laboratory processes, it losses its sentimental value.
To counter that however, many LGD lovers point out that there is nothing sentimental about destroying the environment or forcing children to work in mines. Lab grown diamonds are favored as environmentally friendly and ethical jewels.
In the end, the competition may be settled when one is able to determine if they would like to pay more or less for a stone of the same value but one has ethical questions about its production and the other will leave you guilt-free.
Do Lab Grown Diamonds Have Value?
No one is giving out lab grown diamonds free. Even the big mining companies are switching to green diamonds. This can tell you that they can see the potential for profit when they manufacture and sell the diamonds.
Of course, you may question how valuable they are since they are mass-produced. But, take note that it takes billions of years for natural diamonds to form. The demand for jewelry however is on the increase. With increased demand, lab grown diamonds are likely to appreciate. Diamonds are also a valuable part of the aerospace industry as well as other machinery. Having control over how much can be accessed is a good thing.
Time will show just how valuable a lab-grown diamond purchased today will be worth in a few years.
Are Lab Grown Diamonds Cheaper Than Natural Diamonds?
This is a significant difference between lab grown diamonds and natural diamonds. You can pay less for the same weight, clarity, shape, and color lab created diamond than for a natural one. The lab process does not involve hundreds of people and huge machines to grow the diamond. On the other hand, a lot of digging may be involved to find a similar earth-sourced diamond.
This should not be a reflection of the quality of the diamond. Also, remember that the price of diamonds in general always rises over time. A diamond bought today can be resold at a profit in 5 or more years to come.
Are Lab Grown to Natural Diamonds a Fair Comparison?
In terms of appearance and composition, the comparison will result in a stalemate because these are the same gemstones. Comparison however can be made in terms of sentimental value. Each person however will have a different idea of what is sentimental. Some may be drawn to the fact that earth diamonds are rare and each diamond contains unique properties. Lab-grown diamonds on the other hand can be controlled to the extent that an entire batch is the same.
But, lab grown diamonds can also be custom grown to add sentiment to them. You can choose to have a strand of hair added during the growing process so that your hair will be forever embedded in the engagement ring you give to your bride. It is a case of new possibilities when you are dealing with lab grown diamonds.
Where to Purchase Lab Grown Diamonds Today
With increased demand for lab grown diamonds, many jewelers are beginning to add these man-made jewels to their collections. You could walk into a jewelry store and purchase them. This however gives you limited variety. Many people find it convenient to shop for LGD online. LGD Trade is one place you will find several jewelers showcasing a variety of stones. It is a controlled and secure site that brings together buyers and sellers. You can negotiate, compare prices and purchase lab grown diamonds here.
Bottom Line Recommendation
Although lab grown diamonds are cheaper than natural diamonds, they are not cheap. Expect to pay a substantial amount of money for these luxury pieces. The price may be determined by the weight of the diamond as well as its clarity. You are better off shopping online where you will find several options. Despite many skeptics questioning the resale value of lab grown diamonds, it seems evident that demand is growing and the prices will also go up with demand.
