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Are Lab Grown Diamonds Cheaper?

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Picture of a diamond in a tweezers

Whether you are shopping for a diamond engagement ring, or in the market for a pair of diamond studs, a solitaire pendant, or sparkly tennis bracelet, you might be considering a style made with lab-grown diamonds. The good news: even a cursory online price comparison will reveal to you that, yes, lab-grown diamonds are typically cheaper than their mined diamond counterparts. 

Lab-grown diamonds are an attractive option for many consumers for many reasons. For example, some couples prefer lab-created diamonds for engagement rings because of the affordability but also because the finest quality stones can be procured for modest price points. If a consumer is concerned about the traceability and origins of mined diamonds, lab-grown diamonds, especially those grown in the USA, take that concern off the table. Lab-grown diamonds are also considered by many to be a more environmentally friendly choice than mined diamonds. 

So, what is a lab-grown diamond? Lab-grown diamonds are engineered in a highly-controlled laboratory setting that uses advanced technologies to replicate the same characteristics found in mined diamonds. In fact, lab-grown diamonds have the same crystal structure and chemical properties, and also exhibit the same fire and brilliance. The differences between a mined diamond and one that’s produced in a lab cannot be detected with the naked eye; jewelers have equipment that allows them to test their diamonds to say for sure—it can’t hurt to ask them to demo this for you for extra peace of mind. 

 

Why are Lab Grown Diamonds Cheaper?

The best lab-grown stones can cost 20-30% less than mined diamonds. That’s because when you take nature out of the equation, things can happen pretty quickly: lab-grown diamonds pass through fewer hands in a supply chain and in a fraction of the time it takes natural diamonds to form (and then they have to be mined, sorted, and cut—a process that often takes place in more than one facility in multiple locations across the globe). Another factor is that lab-grown stones require minimal equipment to produce and procure. When scientists duplicate the diamond-making process above ground, they get results in just a few months instead of years. Also, lab-grown diamond suppliers are competing with mined diamonds—and each other—so lower prices naturally enhance their product’s value proposition.

 

Lab Grown vs. Mined Diamonds: Which Is Better?

It really comes down to what it’s important to you. The fact is, lab-grown diamonds are chemically the same as mined diamonds and give great bang for your buck. If you’re wondering if anything created in a laboratory can be as appealing as something found in nature, you may come to the same favorable conclusion that legions of consumers already have. Even luxury brands like LVMH are putting weight behind lab-grown diamonds.  

 

Lab Grown Diamonds vs. Moissanite: How Are They Different?

Although there are numerous diamond-like substitutes available, lab-grown diamonds and moissanites are the alternatives most commonly used jewelry. Moissanite is naturally forming, gem-quality silicon carbide that approximates the look of diamonds. What is the primary difference between lab-grown diamonds and moissanites? Their chemical makeup- lab diamonds are made of pure crystallized carbon and graded on the same scale as mined stones. On the other hand, moissanites are diamond simulants, made from silicon carbide which is considered inferior to the chemical composition of lab-grown diamonds. However, both gems exude the aesthetics of a mined diamond while withstanding potential damage and scratches from daily tasks due to strength and durability.   

Prices for lab-grown gems vary based on their shape, cut, color, clarity, and carat. Typically, the moissanite gem price is based on its size and if the stone is Premium (nearly colorless) or Super Premium (colorless). When it comes to the Four Cs of diamond grading, lab-grown stones can be evaluated according to this criteria, while moissanites are rated exclusively on color due to the near-perfect clarity of every stone. 
  

Make sure you insure your jewelry by a reputable jewelry company like Jewelers Mutual. Obtaining personal jewelry insurance through Jewelers Mutual is an affordable option and covers loss, damage and disappearances. You can check your rate by clicking the button below. 

 

 

 

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Jewelers Mutual was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Later, consumers began putting their trust in Jewelers Mutual to protect their jewelry and the special memories each piece holds. Today, Jewelers Mutual continues to support and move the industry forward by listening to jewelers and consumers and offering products and services to meet their evolving needs. Beyond insurance, Jewelers Mutual’s powerful suite of innovative solutions and digital technology offerings help jewelers strengthen and grow their businesses, mitigate risk, and bring them closer to their customers. The Group insurers’ strong financial position is reflected in their 37 consecutive “A+ Superior” ratings from AM Best Company, as of November 2023. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. Jewelers Mutual is headquartered in Neenah, Wisconsin, with other Group offices in Dallas, Texas and Miami, Florida. To learn more, visit JewelersMutual.com.