Diamonds have long been the ultimate symbol of love and commitment, their sparkling brilliance forever linked to life’s most emotional moments. Thanks to decades of marketing genius—most notably from De Beers—we’ve been conditioned to believe that true love demands an engagement ring worth at least two months’ salary because, after all, “a diamond is forever.” But what if couples could save up to 90% on a diamond ring and no one would ever know the difference? That option exists with lab-grown diamonds.
They are chemically identical to their mined counterpart, replicating the natural formation process, using either high-pressure, high-temperature methods or chemical vapor deposition. Lab-grown diamonds are made from pure carbon crystals in controlled environments. The only difference is time. A diamond that takes billions of years to form within the Earth can be grown in a lab in just six weeks.
However, the decision to buy a diamond comes down to more than price. There are still compelling reasons why someone might choose a mined diamond.
The Case For Mined Diamonds
A mined diamond is a natural gemstone formed over billions of years through unique geological processes, making it a rare and unrepeatable creation of the Earth. There is something special about owning a piece of Earth’s history. Once all the natural diamonds are extracted, new stones will no longer be available. Some people feel a stronger emotional connection to a stone naturally created over billions of years, viewing it as a better representation of lifelong commitment.
Then, there is tradition and cultural significance. Mined diamonds have long stood for love and commitment in Western culture. Following this tradition can feel important for individuals or families who value historical practices. Many people view mined diamonds as heirlooms that can be passed down to future generations, carrying sentimental and historical value. A mined diamond is considered the standard for an engagement ring, and choosing one might better align with societal norms and expectations.
Mined diamonds are perceived to have an element of investment value, generally retaining more resale value than lab-grown diamonds, which have seen steep declines in prices due to increasing supply and technological advancements. For buyers looking at a diamond as a long-term investment, mined diamonds are often seen as the better choice due to the level of exclusivity that lab-grown diamonds cannot replicate.
Unlike lab diamonds, which are grown to be flawless, mined diamonds often have at least some degree of imperfection. These imperfections add to their uniqueness. The slight variations in color or texture in a mined diamond are sometimes preferred by those who appreciate the organic beauty of a naturally formed stone.
While mining has been criticized for its environmental and social impact, many diamond companies now prioritize ethical sourcing. Programs like the Kimberley Process, CanadaMark certification, and partnerships with local communities aim to ensure that diamonds are conflict-free and mined responsibly. In addition, some argue that purchasing a mined diamond can provide economic support to mining regions and communities, particularly in countries like Botswana, where diamonds contribute significantly to development and local infrastructure.
The decision to buy a mined diamond often comes down to its luxury status or brand prestige. In addition to their romantic symbolism of timeless love, natural diamonds are still widely associated with wealth and exclusivity, which adds emotional and social value. High-end jewelry brands like Tiffany & Co. or Cartier often emphasize the allure of natural diamonds, positioning them as the ultimate choice for an iconic engagement ring.
The Case For Lab-Grown Diamonds
The most obvious reason for the rise in popularity of lab-grown diamonds is cost. Depending on the size and cut of the stone, lab-grown diamonds are 70% to 90% cheaper than naturally grown diamonds. According to Wedding Day Diamonds, a 46-year-old company that specializes in diamond jewelry, with a particular focus on fashion and wedding rings, consumers can spend $29,500 on a VS1 2 carat lab-grown round stone, compared to $2,800 for the same size, cut, and clarity of a mined stone.
Lab-grown diamonds are chemically, physically, and optically identical to mined diamonds and are graded and certified by respected organizations such as GIA or IGI. These stones are not cubic zirconia, which is softer, less durable, and doesn’t share the same optical properties as a diamond.
Technological advancements make lab-grown diamonds indistinguishable to the naked eye and even to some gemological equipment. They can even be used in the same industrial applications as natural diamonds. From a practical perspective, nobody can tell whether the stone is lab-grown or natural.
The only potential clue that a diamond might be lab-grown or more affordable is if people consider whether the ring matches the couple’s financial situation. For example, a couple in their early twenties with a combined annual income of $75,000 is unlikely to splurge on a $100,000 engagement ring, making an extravagant mined stone seem improbable.
Lab-grown diamond popularity is boosted in part by increasing celebrity endorsement. A-list actresses such as Emma Watson and Penelope Cruz are proud sponsors of ethical fashion and have helped reduce the stigma about buying more affordable jewelry.
What about investment value? The cost savings are so substantial that most buyers do not worry about resale value. Depending on the size and cut, natural diamonds are typically sold for less than 50% of their original value. A lab-grown diamond often loses the majority of its value at resale. For example, losing 50% on a $29,500 2-carat mined diamond is much more than losing 100% on a comparable $2,800 lab-grown stone. Also, due to the lower price point, owners of lab-grown diamonds don’t have to worry as much about loss, theft, or insurance.
Some consumers choose lab-grown diamonds for ethical reasons. Maybe they don’t want to worry about whether the diamond was mined using child labor, or whether the stone helped finance violence against minorities or governments. Or maybe consumers don’t like the negative environmental impact of deep-earth mining. Regardless of the reason, some people just feel better about buying products without ethical baggage.
Comparing Prices
Price trends suggest lab-grown diamonds will continue to be more affordable. With the proliferation of online platforms, there are many ways to compare prices between lab-grown and natural diamonds.
StoneAlgo, for example, is a platform offering comprehensive price indexes for lab-grown diamonds. Their data indicates that lab-grown diamond prices have been declining over the years, currently costing about 83% less than natural diamonds. Over the past year, lab-grown diamonds have seen a price decrease of approximately 16.64%, while natural diamonds have decreased by about 8.90%.
LabGrownCarats.com is another website that compares lab-grown and natural diamond prices, also noting that lab-grown diamond prices have decreased significantly in recent years. As of 2024, lab-grown diamonds cost between 70-90% less than mined diamonds.
How To Decide Between Lab-Grown Vs. Mined Diamonds?
Ultimately, the decision to buy a mined diamond comes down to personal preferences, values, and priorities. While lab-grown diamonds offer an affordable and sustainable alternative, mined diamonds, for now, retain a special allure tied to their rarity, natural origins, and cultural significance. For many, the decision rests on whether the appeal of owning a piece of Earth’s history and the emotional symbolism associated with natural diamonds outweighs the benefits of lab-grown alternatives. The decision is more straightforward for others: Why pay more than necessary for an identical or even inferior product?
The rise of lab-grown diamonds has sparked a debate among consumers and experts about whether these stones can truly be considered real diamonds. People have very different views.
These diverging views create the potential for a dual market to emerge, with mined diamonds positioned as luxury items and lab-grown diamonds as mass-market products used for jewelry and industrial applications.
The choice between mined and lab-grown diamonds is more than a matter of price—it’s a reflection of personal values, priorities, and what one considers meaningful. Mined diamonds carry the weight of tradition, rarity, and a connection to Earth’s history, while lab-grown diamonds offer affordability, sustainability, and ethical peace of mind. The ultimate decision lies in how each buyer defines value, both sentimental and practical.
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