Should I Choose A Lab-Grown Diamond?
If you are shopping for an engagement ring (or diamond jewelry), you probably have come across lab-grown diamonds. Lab-created diamonds are physically, chemically, and optically identical to earth-grown diamonds, but come from a laboratory instead of being mined from the earth. Discover if a lab-grown diamond is right for you by weighing the pros and cons.
Pros of Lab-Grown Diamonds
Lab-grown diamonds are a cost-effective choice. Manmade diamonds can be up to 30%-50% less expensive than mined diamonds. This allows you to be able to purchase a larger, higher-quality stone with your desired budget. Lab-grown diamonds are an increasingly popular choice for many young Americans since a lot of them have other bills to pay like college loans, and don’t want to have the added debt of an engagement ring.
Here is a natural diamond compared to a lab-grown diamond with the same characteristics:
As you can see, the earth-grown diamond (left) is significantly more expensive than the lab-grown diamond (right).
According to estimates from the Kimberley Process and the United Nations, less than 0.1% of diamonds produced are conflict diamonds. Lab-grown diamonds are a great choice for those who want the added assurance that their diamond is 100% conflict-free.
Less Expensive To Insure
Since lab-grown diamonds are less expensive to purchase, they are also less expensive to insure. At Ritani, we recommend getting engagement ring insurance in case your ring is lost, damaged, or stolen.
Cons of Lab-Grown Diamonds
Unknown Resale Value
Since lab-grown diamonds are relatively new to the market, it isn’t certain whether or not they will have resale value in the way that natural diamonds do. In general, we recommend viewing a lab-grown diamond as a gift to your special someone (or yourself) rather than an investment.
Some view manmade diamonds as less unique than natural diamonds since they are mass-produced in laboratories. Natural diamonds are billions of years old and are even older than dinosaurs. Therefore, mined diamonds are often seen as more special than lab-created diamonds.
Lab-grown diamonds are also sometimes seen as less romantic in engagement rings because earth-grown diamonds have been iconic for decades. On the other hand, a lab-grown diamond can symbolize your modern love for one another. If a lab-grown diamond center stone is better suited for your budget, you can still choose a natural diamond sidestone setting to combine both the classic and modern.
The Bottom Line
Choose whichever diamond feels right for you, whether it is a natural diamond or a lab-grown diamond. There is no right or wrong answer as to which stone you should choose. Both lab-grown diamonds and earth-grown diamonds will make a stunning choice for an engagement ring.