What you need to know before buying a lab-grown diamond engagement ring (2023)
Last Updated on March 13, 2023 by LabGrownCarats
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Everything you need to know before buying a lab-grown diamond engagement ring!
Are you starting to look for an engagement ring? And are you considering getting a lab-grown diamond engagement ring? Engagement ring shopping is an exciting time, and a diamond engagement ring is one of (if not the) most important jewelry purchases that you’ll ever make.
Engagement rings have a lot of significance for both the giver and the receiver. It represents your commitment to each other, as well as the symbol of your love. So naturally, you want to get the perfect ring for the love of your life.
Diamonds are the most popular gemstone for an engagement by far. However, many people are increasingly becoming aware of the ethical issues with mined diamonds. That’s why more and more people are now buying lab-grown diamond engagement rings. The popularity of lab-grown diamonds is growing because of the eco-conscious and ethical mindsets of the millennials.
Lab-grown diamonds are now both cheaper to produce and cheaper to buy for consumers than mined diamonds. But that is not the only benefit of lab-created diamonds. In fact, lab-grown diamonds have numerous advantages over mined diamonds.
If you consider buying a lab-grown diamond engagement ring, keep reading. In the following, we’ll walk through the main benefits while also listing some of the potential drawbacks that you should be aware of before buying a lab-grown diamond engagement ring.
3 of our favorite places to buy lab-created diamond engagement rings
- Everything you need to know before buying a lab-grown diamond engagement ring!
- Buying a lab-grown diamond engagement ring? All questions about lab-grown diamond engagement rings answered!
- Are lab-grown diamonds fake diamonds?
- Are lab-grown diamonds cheaper than natural diamonds?
- Will lab-grown diamonds lose their value?
- What is the difference between lab-grown diamonds and mined diamonds?
- Are mined diamonds really so bad?
- Are lab-grown diamonds better than mined diamonds?
- Is it more romantic with a natural diamond engagement ring?
- What are the disadvantages of lab-grown diamonds?
- Should I buy a lab-grown diamond engagement ring?
- 3 reasons why you should buy a lab-grown diamond engagement ring:
Buying a lab-grown diamond engagement ring? All questions about lab-grown diamond engagement rings answered!
Are lab-grown diamonds fake diamonds?
Lab-grown diamonds are not fake in any way, and they are absolutely real. They are 100% chemically, physically, and optically the same as mined diamonds. And they are graded by the same standards known as the 4Cs: cut, color, clarity, and carat, and by the same laboratories.
Read more in our intro to lab-grown diamonds.
Are lab-grown diamonds cheaper than natural diamonds?
Yes, lab-grown diamonds are cheaper than their mined counterparts. Lab-created diamonds are actually 60-80% cheaper than diamonds extracted from the earth because mining is costly, and mined diamonds’ production and supply chains are extraordinarily long. That means that you can get a lab-created diamond that is much larger than a mined diamond for the same price!
Read more about that in our article what you need to know before buying a lab-grown diamond.
Will lab-grown diamonds lose their value?
Lab-grown diamonds, like mined diamonds, are likely to lose value. This is because lab-grown diamonds have only recently become widely available to the mass market. Unlike mined diamonds, which have somewhat predictable and consistent costs, the cost of creating lab-grown diamonds might decrease further. And because the re-sale market for “used” diamonds is untested, it’s uncertain what prices they can hold.
In general, we do not recommend investing in diamonds. Instead, appreciate diamonds for what they are: magnificent pieces of jewelry!
If you want to learn more about the future of lab-grown diamonds, their projected value, and how all diamonds are to depreciate in value, then continue reading our article outlining the future of lab-grown diamonds.
What is the difference between lab-grown diamonds and mined diamonds?
Lab-grown diamonds are real diamonds, just like their mined equivalents. The only difference between lab-grown diamonds and mined diamonds is that a lab-created diamond is manufactured in a highly advanced process which lowers cost, and energy consumption, and eliminates the negative impact on the local environment and society. Mined diamonds were created billions of years ago and require extensive mining operations to be extracted from the earth’s mantle. The harsh reality is that the mining process is harmful, and there is no way to know where your mined diamonds came from or if they are devoid of human rights violations.
As opposed to lab-grown diamonds, there is no way to ensure that a mined diamond is conflict-free. Read more about the reasons why you should buy a lab-grown diamond.
Are mined diamonds really so bad?
Mined diamonds can indeed be really bad. It’s easy to overlook where gemstones come from, who dug them from deep below the earth’s surface, and under what conditions. People living near mines are often forcibly relocated, while mines have contaminated the soil and water supplies, disrupted ecosystems and wildlife, and left huge holes in the earth; many of them are so gigantic they can be seen from space!
The harsh and uncomfortable truth is that we, as consumers, have no way of knowing for certain where a mined diamond comes from. Read more about mined diamonds’ brutal past (and present) here.
Are lab-grown diamonds better than mined diamonds?
Lab-grown diamonds are better than mined diamonds since lab-grown diamonds are conflict-free and do not carry the same potentially severe adverse effects as mined diamonds on mining countries and their people. Plus, lab-grown diamonds have clear and documented environmental benefits over mined diamonds.
Read about the reasons you should buy a lab-grown diamond.
Is it more romantic with a natural diamond engagement ring?
Natural diamonds, also called mined diamonds, are not more romantic than lab-grown diamonds. But unfortunately, legacy diamond mining companies are spending billions of dollars on advertising in an attempt to create a narrative in which mined diamonds are “natural” and lab-grown diamonds are inferior to mined diamonds. That, of course, is not true, as lab-grown carats are 100% identical to mined diamonds. And that’s why mined diamonds are not more romantic than lab-created diamonds.
There’s nothing remotely romantic about a “natural” diamond that was dug up from the ground using forced labor, violations of human rights, exploration of local communities, disruption of wildlife, and possibly benefiting abusive armed forces.
What are the disadvantages of lab-grown diamonds?
While the benefits far outweigh the drawbacks of lab-grown diamonds, there are some shortcomings you should be aware of before buying a lab-grown diamond. First, while producing lab-grown diamonds may require less than 15% of the energy required to mine diamonds, the fact is that power is still used in the manufacturing process. And unfortunately, not all energy production is clean and based on renewable resources. As a result, there is still a potential environmental cost – as there is with the production of most goods, unfortunately. Still, lab-created diamonds are much more friendly to the environment than mined diamonds are.
Fortunately, many diamond labs rely solely on clean energy in the production process. One of the pioneers is Diamond Foundry, backed by actor and environmentalist Leonardo Dicaprio, which has received a lot of attention and venture capital. They sell through their own brand, Vrai, the well-known jewelry brand MiaDonna and a host of other retailers (see an exhaustive list here).
Should I buy a lab-grown diamond engagement ring?
Ultimately, it’s your choice whether you decide to buy a lab-grown or mined diamond engagement ring. However, if the environmental and societal impact matters to you, then we absolutely think you should buy a lab-grown diamond engagement ring.
3 reasons why you should buy a lab-grown diamond engagement ring:
1. Lab-grown diamonds are more affordable
Lab-grown diamonds are 30-40% cheaper than mined diamonds. That means that you can save a huge chunk of your money or get a bigger and better diamond.
2. Lab-grown diamonds are the sustainable and ethical choice
Lab-grown diamonds are guaranteed conflict-free! They are the sustainable and ethical alternative to natural diamonds. Since they are not mined, you help the environment while avoiding potential harm to local communities, workers, animals, and funding conflicts and warlords.
3. Lab-grown diamonds are exactly like mined diamonds
They are nothing like the diamond alternative moissanite. Lab-grown diamonds have the same chemical, optical, and physical properties as their mined counterparts. In addition, they are graded and certified by the same recognized institutions like IGI, International Gemological Institute, and the GIA, the Gemological Institute of America.
If you’ve decided that a lab-grown diamond engagement ring is the right choice for you, then read about the best places to buy lab-grown diamond engagement rings in 2023. Need help buying your first lab-grown diamond? Read our guide to buying a lab-grown diamond engagement ring online.