Lab-Grown vs. Natural Diamond Prices – 2023 Price Comparison

Last Updated on October 1, 2023 by Rolf Hartmann

SALES ALERT! Save at our best-rated lab diamond jewelers:

Any diamond purchase is a significant investment, so it’s critical to understand how to find the best stone and where to get the most bang for your buck. Diamond prices vary greatly depending on the grade of the diamond and where it’s purchased. For example, a 1-carat lab-grown diamond (one of the most popular carats and cuts) can cost as low as $400 or as much as $4000, depending on the diamond’s four Cs and if you buy at one of the best lab diamonds jewelers.

But one thing that is for sure is that lab-grown diamonds cost at least 80% less than mined diamonds – even though they are precisely the same. And better for the environment.

3 of the cheapest places to buy lab-grown diamonds

In the following, we’ll compare the lab-grown vs. natural diamond prices to see exactly how much you’ll save by choosing the environmentally and socially better diamond.

Read on to find out exactly how much you can save by choosing a lab-grown diamond over a mined diamond.

What are lab-created diamonds?

Let’s first go over what a lab-created diamond is. Diamonds grown in laboratories are identical to those found in mines. The only distinction between mined and lab-grown diamonds is that mined diamonds were formed billions of years ago and must be extracted from the earth using extensive mining operations. In contrast, lab-grown diamonds are produced in high-tech labs, reducing costs and energy consumption.

It’s that simple. Mined, also sometimes referred to as natural diamonds, and lab-created diamonds are 100% the same. Except lab-created diamonds are cheaper to buy and better for the planet.

Learn more about lab-grown diamonds

Can you tell the difference between lab and mined diamonds?

Let’s answer one of the most commonly asked questions regarding lab-grown diamonds vs. mined diamonds.

No, you can’t tell the difference between a lab-grown and a mined diamond. Lab-grown diamonds are exactly the same as diamonds mined from the earth. In fact, lab-grown diamonds are physically, chemically, and optically identical to mined diamonds. They have the same hardness, the sparkle is just the same, and they are 100% real diamonds.

Likewise, lab diamonds are graded the same way as ‘natural’ diamonds based on the 4Cs – carat, color, clarity, and cut and carried out by the same renowned laboratories such as IGI and GIA.

Lab-grown vs. natural diamond price examples

James Allen Lab-Grown vs. Natural Diamond Prices
Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | mined diamond brilliant cut

Mined 1.5 Carat Diamond

Cut: Excellent
Clarity: VS1
Color: H
Certified by: IGI

Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | lab created brilliant cut diamond 2

Lab-Grown 1.5 Carat Diamond

Cut: Excellent
Clarity: VS1
Color: H
Certified by: IGI

Ritani Lab-Grown vs. Natural Diamond Prices
Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | ritani 1 carat mined diamond

Mined 1.0 Carat Diamond

Cut: Ideal
Clarity: VS1
Color: I
Certified by: IGI

Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | ritani 1 carat lab diamond

Lab-Grown 1.0 Carat Diamond

Cut: Ideal
Clarity: VS1
Color: I
Certified by: IGI

Brilliant Earth Lab-Grown vs. Natural Diamond Prices
Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | brilliant earth 2 carat mined diamond

Mined 2.0 Carat Diamond

Cut: Ideal
Clarity: VS1
Color: G
Certified by: GIA

Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | brilliant earth 2 carat lab diamond

Lab-Grown 2.0 Carat Diamond

Cut: Ideal
Clarity: VS1
Color: G
Certified by: IGI

Clean Origin and Grown Brilliance Lab-Grown Diamond Prices

Clean Origin and Grown Brilliance do not sell mined diamonds but compare the below fantastic prices with the above prices for mined diamonds.

Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | clean origin 1 5 carat lab diamond

Lab-grown 1.50 Carat Diamond

Cut: Ideal
Clarity: VS1
Color: H
Certified by: IGI

Lab-Grown vs. Natural Diamond Prices - 2023 Price Comparison | grown brilliance 1 5 carat lab diamond

Lab-Grown 1.50 Carat Diamond

Cut: Ideal
Clarity: VS1
Color: H
Certified by: IGI

Lab-grown vs. natural diamond prices: Our 2023 price comparison

To give you an idea of just how much you can save when buying a lab-grown diamond versus a mined diamond, we’ve gathered prices from our highest-rated lab-grown diamond retailers. These include James Allen, Clean Origin, Ritani, Brilliant Earth, With Clarity, and Grown Brilliance.

Some of them carry both lab-grown and mined diamonds, while others focus on the sustainable diamond choice (that’s lab diamonds, in case you were wondering). All of the listed diamond jewelers continuously top our lab diamond seller reviews on Labgrowncarats.

To compare prices, we’ve chosen a reference diamond, which is one of the most popular sizes and quality. The reference diamond is a round brilliant-cut lab-grown diamond with the following 4C grades:

*You can usually save by going just below and above popular round carat-weights

Lab-grown vs. natural diamond prices

Below is our comparison of lab-grown vs. natural diamond prices. We have collected these from our recommended places to buy both mined and lab-created diamonds. We constantly update the lab vs. natural diamond prices, and you can see the latest diamond price date under the table.

Lab-grown diamond prices have decreased a lot in the past years, particularly in 2022 and 2023. When we started comparing lab-grown vs. natural diamond prices, the difference was 30-40%. But today, in 2023, the price of lab diamonds compared to mined diamonds is a staggering 80-90%!

Diamond CaratLab DiamondsNatural DiamondsSavings (avg.)
1.0 carat brilliant cut$490-1,018$3,050-6,07683%
1.5 carat brilliant cut$500-2,022$5,060-13,93087%
2.0 carat brilliant cut$839-2,333$14,480-24,02092%
2.5 carat brilliant cut$1,120-3,240$20,810-$42,45093%
3.0 carat brilliant cut$1,715-5,035$24,340-$52,13091%
Comparison Chart of Lab-Grown vs. Natural Diamond Prices (2023)

Note that diamond prices fluctuate daily, and prices and availability may have changed since diamond prices were collected (October 2023).

Are lab-grown diamonds cheaper than natural diamonds?

Lab-grown diamonds are significantly cheaper than natural diamonds. In our 2023 comparison of diamond prices, we find that lab diamonds are 80-90% cheaper than natural diamonds.

How much cheaper are lab diamonds than mined diamonds?

In 2023, lab diamonds are 80-90% cheaper than mined diamonds. Prices for lab diamonds have been decreasing recently, and lab-created diamonds are now even more affordable but just as real.

Why you should choose a lab-grown over a mined diamond

As you can see from the chart, lab-grown diamonds are at least 80% cheaper than mined diamonds of precisely the same quality and grading! Basically, you can get a much better quality and larger diamond for the same money.

5 reasons why you should choose a lab diamond:
  • Lab-grown diamonds are identical to mined diamonds.
  • Go for a lab diamond if you want to maximize your budget and save at least 80%.
  • Lab diamonds are the ethical choice and the only 100% guaranteed conflict-free diamonds.
  • Lab diamonds are more sustainable. On average, mining requires 25 times as much energy to produce 1 carat of diamond as it does in the lab.
  • Mining diamonds has significant adverse effects on the local environment and animal habitats.
  • Human and workers’ rights are routinely violated in the diamond mining industry.

Need more information on how to purchase the perfect lab diamond? To assist our readers in choosing the best possible lab diamond, we’ve published several guides.

We recommend getting started by reading our popular Guide to Buying a Lab-Grown Diamond – Top Tips to Saving and Getting a Better Diamond! and What You Need To Know Before Buying a Lab-Grown Diamond (Pros and Cons).

3 of our favorite places to buy lab-grown diamonds
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Klaus T
Klaus T

Klaus is an ex-diplomat, economic development expert, ex-Googler, and start-up founder. He has 10+ years of expertise in economic development, trade and resource extraction, and he worked with the impact of mining on societies and the environment. He is an expert on how resources, such as gold and diamonds and diamond mining impact communities and exporting countries, and has worked with the UN, the World Bank, the African Union, the African Development Bank, and similar organizations. Klaus later shifted focus to work with data analysis, marketing technology, measurement, and analytics, including at 7+ years at Google.

Klaus developed a profound interest in diamonds, particularly lab-grown diamonds, and has worked with diamond and lab diamond analysis and valuation for many years on the side. Klaus is an expert in diamond prices and valuation, the investment side of diamonds, and the economic development impact of diamond mining.

At LabGrownCarats.com, Klaus is responsible for anything related to diamond analysis and valuations, the financial aspects of diamond buying, and the impact of diamond mining vs. creating diamonds in the laboratory.

Please get in touch with Klaus if you are looking for data and analysis related to lab-grown diamonds or if you have questions about the economic impact of diamond mining and the shift to creating diamonds in the laboratory.

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