To see the price difference yourself, select a ring from our collection of engagement rings and compare diamonds with our live diamond feed. You’ll be able to differentiate between ‘natural’ and ‘lab grown’.
So if lab diamonds are real diamonds, why do they cost less?
The answer lies in the efficiency of their production. Effectively, the time and cost of producing a lab diamond are a lot less than that of finding and mining a natural diamond. Natural diamonds take billions of years to form, and require extensive land mass to mine, as well as all the required infrastructure and workforce. In contrast, it takes one laboratory with a small (but highly expert) workforce just a couple of weeks to create a lab diamond. After an initial, hefty investment in all the technology needed, this laboratory can go on producing lab diamonds - whereas the natural diamond mine will eventually run out of diamonds, and the miner will need to acquire more land to explore.
Essentially, diamond mining is nowhere near as cost efficient as lab diamond creation. That said, it is important to remember just how many livelihoods ethically-established diamond mines can support in mining-dependent communities. The cost of a natural diamond is absolutely worth it when you consider it to be a rarity of nature that has taken a great deal of investment, time and effort to find. Therefore, lab diamonds do not devalue natural diamonds, which are effectively priced as an entirely different entity.
So if lab diamonds are cheaper, what’s their future value?
The future value of lab diamonds is not known. As a disruptive gem to the jewellery industry and with no real precedence to make market predictions, no one knows whether lab diamonds will retain their value, increase in value, or decrease in value. The reality is, the resale value of a diamond (lab or natural) will never be as much as you paid in the first place. Some predict the value of lab diamonds could increase to catch up with natural diamonds in the coming years.
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