We test all recommended products and services independently and exhaustively. If you buy through our links, we might receive compensation. Our recommendations are not influenced by monetary considerations. Learn more.
Updated 28th October, 2025
- 1. Why Lab-Grown Diamonds Are the Smartest Way to Save
- 2. Study the 4C's and Know Where to Compromise
- 3. Choose a Near-Colorless Diamond
- 4. Pick “Eye-Clean” Clarity for Maximum Value
- 5. Go For a Lab-Grown Diamond Carat Weight Just Below the Standard Sizes
- 6. Don’t Choose a Brilliant-Cut Diamond for Big Savings
- 7. Choose Smaller Stones for a Budget-Friendly Ring
- 8. Choose 14K Gold Instead of 18K Gold to Save Money
- 9. Buy Your Engagement Ring Online for Huge Savings
- 10. Save Even More with Deals and Sales
Buying an engagement ring doesn’t have to mean spending a fortune. With lab-grown diamonds now up to 80% less expensive than mined ones, it’s easier than ever to find a stunning, ethical ring that fits your budget.
An engagement ring purchase is a considerable investment. So naturally, you want to give your future spouse the most beautiful engagement ring possible — and so you should! But that doesn’t mean you should overpay. For example, cutting corners on research might lead you to make some costly mistakes. In contrast, by performing your due diligence (e.g., reading this article), you will undoubtedly save money while getting a better and bigger diamond engagement ring.
In this guide, we’ll help you save money on a lab diamond engagement ring while still giving the love of your life the ring of her dreams. There are several ways to get more bang for your buck and still end up with the perfect diamond engagement ring.
SALES ALERT! See the best diamond deals (terms apply):
1. Why Lab-Grown Diamonds Are the Smartest Way to Save
Lab-grown diamonds are chemically, physically, and optically identical to mined diamonds and the process of cutting and polishing a lab-grown diamond is exactly the same as for mined diamonds. But lab diamonds cost up to 80% less because of their shorter, more efficient supply chain. The price difference between mined and colored lab-grown diamond engagement rings is even bigger!
Did you know, however, that lab-grown diamonds are not only better for your wallet but also for the environment?
That’s why sustainably created diamonds have become an increasingly popular choice among celebrities such as Rihanna, Lady Gaga, Emma Watson, Meghan Markle, and many more A-listers who have been seen wearing lab-grown diamond jewelry.
New to the concept of lab-grown diamonds? Read all about lab-grown diamonds and what you need to know.
3 Diamond Jewelers We Like
2. Study the 4C’s and Know Where to Compromise
Understanding a diamond’s cut, color, clarity, and carat is the foundation of smart diamond shopping.
Our gemologists always emphasize cut quality over anything else. It’s the single factor that most affects brilliance and sparkle. In fact, as long as the diamond is well cut (always, always choose the best cut), you can safely compromise on clarity, color, and even carat weight. You’ll save a huge chunk of money or get a bigger and better diamond. And we promise you that you’ll still end up with an eye-catching sparkling diamond that your soon-to-be will cherish forever.
Pro Tip: Always choose an “Excellent” or “Ideal” cut. A smaller, well-cut diamond will outshine a larger one with a lower cut grade.
Learn more about the diamond 4 C’s
3. Choose a Near-Colorless Diamond
The diamond color grading scale ranges from D (colorless and most expensive) to Z (most colored and least costly). D is exceptionally rare and reserved for billionaires for whom money is no object. Z is for industrial use, and grades all the way up to around K and L are generally used only for accent stones.
But here’s the secret: You can save significantly by opting for diamonds in the near-colorless range. Let’s break down the best way to get the most value from your lab-grown diamond.
How Much Can You Save by Downgrading on Diamond Color?
The savings can be substantial. For example:
- An F-color, VS2 clarity, ideal cut diamond costs between $1,300 and $1,500.
- The same diamond with an H color (VS2 clarity, ideal cut) can be purchased for under $1,000.
That’s a 30-50% savings by simply going down just two color grades—without sacrificing visual beauty. The extra savings can either go toward a larger carat weight or a higher cut grade, both of which have a greater impact on a diamond’s overall appearance.
Pro Tip: Prioritize cut and brilliance over color perfection.
Source: GIA
4. Pick “Eye-Clean” Clarity for Maximum Value
Understanding Diamond Clarity:
Diamond clarity refers to the presence of internal flaws (inclusions) or surface blemishes within the stone. Diamonds are graded on a clarity scale ranging from Flawless (F), the highest grade, to Included (I3), the lowest. The fewer and less noticeable the inclusions, the higher the clarity grade—and the higher the price.
Eye-Clean Diamonds: The Sweet Spot for Clarity
The good news is that a diamond doesn’t need to be flawless or even near the top of the clarity scale to look stunning. For most buyers, the goal should be an “eye-clean” diamond—one where no inclusions or blemishes are visible to the naked eye.
Pro Tip: Very Slightly Included (VS1 or VS2), which are clean of “eye-visible” inclusions, give you the best quality for your money.
Slightly Included Diamonds: A Budget-Friendly Option
However, if you’re looking to save more, then consider a Slightly Included (SI) quality diamond. If you are lucky or diligent, you might be able to find a Slightly Included diamond that is eye-clean without inclusions or blemishes that impact light reflection.
If you do, you can save a huge chunk of money. Depending on the type of inclusions, you most likely won’t be able to see the imperfections when the diamond is mounted in its setting. If it’s eye-clean and the other 4 Cs align, you can easily go for an SI-quality diamond.
Avoid going too low on the clarity scale—diamonds in the Included (I1, I2, I3) range can have noticeable flaws that affect both appearance and light reflection. For SI diamonds, inspect the stone carefully and work with trusted vendors to ensure you’re getting the best deal.
5. Go For a Lab-Grown Diamond Carat Weight Just Below the Standard Sizes
Understanding Diamond Carat:
Diamond carat refers to a diamond’s weight rather than its size, though the two are closely linked. Carat weight is one of the most significant factors affecting a diamond’s price, and certain “magic sizes” (like 1.0, 1.25, 1.50, and 2.0 carats) often come with a premium.
Try searching for a diamond with a carat weight of around 0.93-0.99. You’ll likely save a good amount compared to a full one-carat diamond. You’ll not be able to tell the difference in size.
Pro Tip: A smaller diamond with a higher diamond cut grade will appear larger than a lower cut grade diamond with a higher carat weight. Go for the higher diamond cut and compromise on diamond carat.
6. Don’t Choose a Brilliant-Cut Diamond for Big Savings
Consider Fancy-Cut Diamonds for Big Savings
Our 6th money-saving tip for buying a lab-grown diamond engagement ring is to opt for a fancy-cut diamond.
Fancy-shaped diamonds are any shapes other than the traditional round brilliant cut, which is the most popular choice for engagement rings due to its unmatched brilliance, fire, and light-catching facets. In fact, diamond engagement rings with a round center stone account for 75% of all diamond engagement rings sold today. But because of their popularity, round brilliant-cut diamonds also come with a premium price tag.
The Most Popular Fancy-Cut Diamonds Include:
- Princess cut: Square and modern, the princess cut is the second most popular diamond shape after the round brilliant. It offers exceptional sparkle and is typically priced 20–30% lower than its round counterpart.
- Oval Cut: Elegant and timeless, oval diamonds elongate the finger and appear larger than round stones of the same carat weight. They also hide inclusions and color well, making them a practical and beautiful choice.
- Cushion Cut: Known for its soft corners and pillow-like shape, this vintage-inspired cut has an old-world charm with a brilliant facet pattern that delivers impressive fire.
- Pear Cut: Pear-shaped diamonds are both striking and flattering, and they often look larger per carat than other shapes.
- Emerald Cut: With its sleek, rectangular facets, the emerald cut offers a sophisticated, hall-of-mirrors effect. It’s less fiery than brilliant cuts but showcases clarity and elegance like no other.
- Marquise Cut: Distinctive and dramatic, the marquise shape maximizes carat size, creating the illusion of a much larger diamond. It’s perfect for those who want a bold and eye-catching ring.
Whether you prefer the vintage charm of a cushion cut or the modern appeal of a princess cut, each fancy shape has its own allure and better yet, most styles come with a lower price tag than a round brilliant.
Explore our Diamond Shapes Guide.
7. Choose Smaller Stones for a Budget-Friendly Ring
Why Opt for Multiple Small Diamonds?
One of the best ways to save money on a lab-grown diamond engagement ring is to choose a design with multiple small diamonds, such as the popular halo ring. In this style, smaller brilliant-cut diamonds surround the center stone, adding extra sparkle and drawing attention to the ring’s main attraction.
Save Money with a Halo Setting
Halo rings are typically much more affordable than a solitaire ring with a large center stone. The smaller diamonds cost significantly less, and the overall design still offers plenty of brilliance and shine.
The Added Benefit: Bigger Look, Lower Price
Not only is a halo ring beautiful, but the smaller surrounding stones can make the center diamond appear larger—giving you the look of a more expensive ring for a fraction of the price of a single large stone.
8. Choose 14K Gold Instead of 18K Gold to Save Money
Why 14K Gold is a Better Option for Engagement Rings
When selecting a metal for your engagement ring, 14K gold offers the best balance of affordability, durability, and beauty. While both 14K and 18K gold are popular choices for everyday wear, 14K gold is more affordable and more resistant to scratches.
The Difference Between 14K and 18K Gold
- 14K gold contains approximately 58% pure gold, making it durable and resistant to wear.
- 18K gold has about 75% pure gold, giving it a slightly warmer color, but it is softer and more prone to scratches.
Why Not 24K Gold?
Though 24K gold is the purest form of gold, it’s too soft for everyday jewelry, easily scratching and denting, which makes it unsuitable for engagement rings.
The Advantages of 14K Gold
- Cost-effective: 14K gold is the most affordable option among higher-carat golds.
- Durability: It’s more scratch-resistant than 18K gold, making it perfect for everyday wear.
9. Buy Your Engagement Ring Online for Huge Savings
Why Buying Your Engagement Ring Online is Cheaper
Purchasing your engagement ring online can save you a ton of money compared to shopping at traditional brick-and-mortar jewelry stores. Online retailers offer lower prices because they avoid many of the overhead costs associated with physical stores.
Compare Prices and Find the Best Deal
In addition, one of the major advantages of buying online is the ability to easily compare prices from different jewelers. Online lab-grown diamond sellers provide massive selections, allowing you to browse through hundreds of diamonds and find the perfect stone for your engagement ring at the best price.
Customization Options from Top Online Jewelers
And perhaps most importantly, by buying your diamond engagement ring online, you avoid pushy sellers who are more likely to pressure you into making a wrong and overpriced purchase.
Many reputable online diamond retailers, like James Allen, Ritani, Brilliant Earth, and others, offer customization options, allowing you to create a truly unique ring by selecting diamonds and settings individually.
For a more interactive experience, companies like With Clarity even provide free 3D replicas of the engagement rings you’re considering so you can assess the look and feel before making a final decision.
3 Online Diamond Jewelers We Like for Engagement Rings
When you’re ready to start looking for an engagement ring, make sure to begin by reading our guide on how to buy a lab-grown diamond engagement ring online and recommendations for the best places to buy lab-grown diamond engagement rings online.
10. Save Even More with Deals and Sales
Take Advantage of Lab-Grown Diamond Sales
One final tip for saving on your lab-grown diamond engagement ring is to keep an eye out for sales and discounts. Lab-grown diamonds are already up to 80% cheaper than their mined counterparts, but you can save even more during seasonal sales and special promotions.
Stay Updated on the Best Lab-Grown Diamond Deals
We continuously monitor the market to find the best prices on lab-grown diamonds. To make sure you don’t miss out on any upcoming sales or discounts, sign up for our newsletter and get notified as soon as new deals become available.
