Natural diamonds are rare, often two to three times the price of a lab-grown version, and rarity is why people choose natural diamonds. Why would there be a price difference if both types of diamonds are the same? The price difference results from the fact that much more resources are required to get natural diamonds to the market than lab-grown diamonds. No new significant diamond mines have been discovered or opened in the past 30 years.
The existing natural diamond mines will eventually close and cause severe shortages, causing many to speculate that diamond prices will soar.
Color: Colorless diamonds are the hardest to find and are therefore the most expensive.
Clarity: The clearer a diamond is, with fewer “inclusions", the more value it has.
Cut: A well-cut diamond will be more valuable than one that is poorly cut or uncut. Expert diamond cutters know how to play around with angles and light to create a dazzling spectacle.
Carat weight: Diamonds are weighed per carat. However, the same number of carats in a large diamond will be more valuable than the same number of carats divided into several smaller diamonds.
Of course, there are many other factors that determine value, so consult with one of our trusted jewelry advisors to learn more.
Moissanite: This is a gemstone made from silicon carbide. Even though moissanite looks like a diamond, it has a very different structure compared to the real diamond. It is also manufactured in a scientific laboratory.
Cubic zirconia: Can also be made in the lab to look precisely like a diamond. However, it doesn't have the strength of diamond. Over time, it will become prone to scratches and easily breakable.
Quartz: This is one of the most common natural materials used to make diamond alternatives. Even though quartz will never have the sparkle and fire of diamond, a great artisan can make a diamond engagement ring with this stone that can look better than one made from low-quality diamond. However, over time, jewelry made from this type of stone will also lose its shine due to scratching.
Several other diamond alternatives like emerald, ruby, aquamarine, white zircon, and white sapphire are available.
An engagement ring is a highly personal possession. It's important to remember that both lab-grown and mined diamonds are both diamonds. For this reason, it’s hard to say whether you should go with the mined or lab-grown diamond when buying one.
Price: Lab-created diamonds cost less than natural diamonds because they come through a shorter supply chain.
Resale value: Mined diamonds have a long history and because no new mines have been discovered in the past 30 years, are becoming more and more rare. Lab-grown diamonds are too new to have established a resale market but the increased demand will only help strengthen their resale value.
Want to learn more? Connect with one of Craig Husar’s Trusted Jewelry Advisors today.
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