Some despise it, others will vouch for it.
Are laboratory-grown diamonds the more ethical choice to say 'I do'?
Image Courtesy: Frank Darling
Are lab diamonds worth it?
They’re worth what people are willing to pay. It’s no secret that the price per carat of lab created diamonds has been dropping, and fast. But like with any technological innovation—the more competitors enter the market and the more we learn about making these stunning stones—it’s only natural to see them get more affordable. At the same time, they’re also getting more available, more beautiful, and more varied.
Once about 20% less than the price of natural mined diamonds, today you can find lab diamonds for 40-50% less. Wallet already feeling better? We expect this trend to continue a bit before pricing stabilises, but lab created diamonds are definitely going to save you dollars for an identical outcome. Does that mean they’re a terrible investment? Are lab grown diamonds worth anything? Are we talking love story or stock purchase? But seriously, while the diamond market is relatively stable, unless you’re buying investment-grade fancy colour diamonds that will cost an arm-and-leg, no diamond is an investment.
Lab diamonds aren't real diamonds
Is ice real if it’s made in your freezer? Hello chilled rosé on a hot summer day. Same goes for lab grown diamonds. They’re au naturale, just made in a different way (by machines instead of mother Earth). Lab created diamonds are atomically, physically, and optically identical to natural diamonds. And you don’t have to take our word for it. In 2018, the FTC ruled, “A diamond is a diamond no matter whether it is grown in a lab or comes out of the ground.” Enough said. Still wondering if lab grown diamonds are real? Check out this easy to understand blog post on how lab diamonds are grown.
But they still cost so much?
Lab-grown diamonds are still real diamonds, and for that reason, contain an inherent value reflected in their cost. Second, they are expensive to cut. Diamonds are so hard, it requires specialised equipment and very well-trained cutters to produce a properly cut, beautiful diamond. They could also come with a grading report which affects the price - The IGI (International Gemological Institute) is internationally recognised for its precise diamond grading reports. An IGI Laboratory Grown Diamond Report provides the same information as an earth-grown diamond grading report (GIA) but makes it clear to the buyer that the diamond was lab-created.
You can't get lab grown diamonds appraised
A diamond is a diamond is a diamond, no? Just as some grading labs have started offering certification for lab created diamonds, jewellery appraisers will also appraise them—as they would any natural diamond—in line with their current market value. Yes, your appraisal will say “lab created” on it. That’s what it is. Just remember, an appraisal isn’t the value of your diamond, or what you paid for it. It’s meant to evaluate the cost of replacing it, for, you know, insurance purposes.
PS: There’s nothing worse than damaging or losing the symbol of your love to teach you this lesson. And as diamond values fluctuate, consider getting your diamond reappraised from time to time to make sure you’re not overpaying on your insurance.
Are lab created diamonds good?
As good as natural diamonds. It’s all about what’s going to get you the look you want, for the price you want to pay. Some people prefer to trade clarity and colour for provenance, others prefer to double down on carat. There’s no right or wrong answer here — only what’s right for you.
They have the same chemical, physical, and optical properties as mined diamonds and exhibit the same fire, scintillation, and sparkle. Lab grown diamonds offer an exceptional value when compared with the same quality rare, earth mined diamonds.
Are lab grown diamonds the same?
While we’d love it if all lab grown diamonds were D flawless, the reality is that’s not the case. Lab grown diamonds are not all the same. They’re grown, or formed in a way that is similar to how diamonds are formed in nature. That means inclusions and variations in colour are the name of the game.
Lab diamonds are bad for the environment too..
Hello, carbon footprint. We’re all trying to do a little better these days, and the diamond industry isn’t historically known for being super transparent—so it’s good to know what you’e getting into.
First thing’s first: Lab grown diamonds are made with electricity. Electricity is bad for the environment. Lab created diamonds use 250 million joules per carat. Seem like a lot? Mined diamonds use 538.5 million. But some lab diamonds, like Diamond Foundry’s, are grown with 100% renewable energy. If that’s important to you, just ask!
Beyond electricity, lab created diamonds consume significantly less water per carat than their mined counterparts—18 gallons vs. 126 gallons—and have startlingly lower carbon emissions. Bottom line, if you believe in global warming, there’s no better way to flaunt your support with choosing lab made options!
There is really no comparison in the environmental impact of lab diamonds vs. a brand new mined diamond. Tl;dr If you are eco-conscious, go lab.
Educational Video Courtesy: DW Planet A.
Overall, there is no right or wrong, but we do believe that informing the consumer of all options is in their best interest. Now that we have shared more knowledge the choice is yours to make.
At Paredes & Co. we believe our clients deserve the best and offer both worlds, judgement free. Contact us to get started on your bespoke piece today.