With lab grown diamonds gaining popularity and awareness, it’s important for consumers to understand the cost comparison of lab vs mined. While most people understand that lab diamonds are created in a laboratory through a process that mimics the way natural, mined diamonds form in the earth, many are still unsure about what the true price difference is between these two types of diamonds. In this article, we’ll help you understand what makes up the cost of a diamond and give you some tips on how to make an educated purchase that best suits your personal preferences and budget.
Firstly, it’s important to remember that the cost of a diamond is determined by four different quality factors known as the Four C’s – cut, color, clarity and carat weight. Regardless of whether a diamond is mined or lab grown, the overall price will be determined by these same quality factors. However, because of advancements in lab grown diamond technology, diamond production is now more efficient than ever before and as such, lab diamonds have lower prices than their mined counterparts.
On average, a lab grown diamond will be 90% less expensive than its mined equivalent. As the demand for lab diamonds continues to grow, these savings are expected to continue increasing. In addition to saving you money, purchasing a lab diamond is also a more sustainable choice. The diamond mining process is extremely resource intensive, requiring large areas of land for excavation. This is something that lab diamond companies are continually working to reduce, with some labs now claiming to use as little as 20 kWh to produce a single lab diamond!
Not only is sustainable diamond jewelry mining harmful to the environment, but it also has a detrimental impact on the local communities that live in and around the area. Many of these communities rely on diamond mining for income, and the sale of lab grown diamonds provides a viable, more ethical alternative that supports these local economies.
Of course, there is a certain allure to the story of a mined diamond and the sense of history that it can tell. While the economic benefits of buying a lab diamond are undeniable, some consumers still choose to go with the more traditional route for their purchases.
While we can’t deny that lab diamonds have more than doubled in popularity over the last several years, it’s important to keep in mind that they don’t have all of the sentimentality and value of a natural gem. If you’re looking for a truly unique and beautiful piece of jewelry, we encourage you to shop the wide selection of natural diamonds in our online store today!
In recent years, lab-grown diamonds have gained popularity as an ethical and eco-friendly alternative to mined diamonds. One significant factor driving their popularity is their typically lower cost compared to naturally mined diamonds. Understanding the cost comparison between lab-grown and mined diamonds can help consumers make informed decisions when choosing their preferred diamond option.
Lab-grown diamonds are created in controlled environments using advanced technological processes that mimic the natural conditions under which diamonds are formed. These diamonds have the same chemical composition, physical properties, and brilliance as mined diamonds but are produced in a matter of weeks rather than over millions of years. As a result, lab-grown diamonds are often more affordable than their mined counterparts.
The cost of lab-grown diamonds is primarily influenced by the production process, which involves significant initial investment in equipment and infrastructure. However, once the infrastructure is in place, the cost of producing additional diamonds is relatively low. This efficiency in production contributes to lower overall costs for lab-grown diamonds compared to mined diamonds.