Is a lab-grown diamond really a diamond?
The simple answer is… yes. Think of it like ice. Mother Nature makes ice, is that any different than the ice you make in your freezer? It’s the same for lab- grown diamonds vs natural diamonds. Natural diamonds are formed thousands of miles beneath Earth’s surface, and they take millions of years of pressure and heat to develop. Whereas lab- grown diamonds are made in a matter of months.
So, what is the difference? And which one is right for you?
The value of both natural and lab diamonds is determined mainly by their carat weight, color, clarity, and cut. The rarity of natural diamonds increases the value, while the speed at which lab diamonds are made decreases their value. They are technology, and as that technology improves the price will most likely continue to depreciate.
Over the last 25 years natural diamonds have increased on average 3% annually. Lab-grown diamonds have decreased over 60% in the last two years alone. You can look at that in two different ways.
First you might say lab grown diamonds are a bad investment vs natural diamonds. Secondly though you may say you aren’t making an investment, and the extra savings make lab diamonds the better choice. For example, a 2 1/2ct natural GIA certified SI1 G diamond costs roughly $35,000. A lab version of this diamond would only cost about $6,000. So, it is easy to see why some might choose the savings. Ultimately it is a personal decision, and we are here to help. Schedule an appointment any time to see the differences for yourself. We are here to help you make the most educated decision possible!