03.04.2024 By The Online Editor

7 Myths - Understanding Lab Grown Diamonds

The latest buzz on everyone's lips—lab-grown diamonds. Quickly gaining popularity as an ethical and budget-friendly alternative to mined diamonds, especially for significant purchases like engagement rings, are lab-created diamonds or man-made diamonds too good to be true? Are lab-created diamonds valuable? Are lab-grown diamonds authentic? Opinions abound. Hence, we're here to simplify it all for you, ensuring you feel confident in your choice. Without any particular ranking, here are eight reasons commonly cited against purchasing lab-grown diamonds, aiming to facilitate your decision-making process when comparing lab diamonds versus natural diamonds. TL;DR: We're big fans of lab-created diamonds!

1. Lab grown diamonds are worthless

It's no secret that the cost per carat of lab-created diamonds has been rapidly decreasing. This is typical of technological advancements—more market players and enhanced production methods result in more affordable prices. Simultaneously, these diamonds are becoming more accessible, visually appealing, and diverse.

Previously priced around 20% lower than natural diamonds, lab-created diamonds now offer savings of 40-50%. Feeling relieved about your wallet? We anticipate this trend to continue before reaching a stable pricing point. However, lab-created diamonds are undeniably cost-effective. Does this mean they are a poor investment? Are lab-grown diamonds valuable? Are we discussing a romantic tale or financial portfolio? Jokes aside, while the diamond market remains relatively stable, except for investment-grade fancy color diamonds, diamonds are not considered investments.

2. Lab diamonds are bad for the environment

Hey there, carbon footprint. We're all striving for improvement nowadays, and let's face it, the diamond industry hasn't always been the epitome of transparency. So, it's crucial to understand what you're getting into.

First and foremost, let's talk about electricity. Lab-grown diamonds are produced using electricity, which, as we know, isn't great for the environment. On average, lab-created diamonds consume 250 million joules per carat. Sounds like a hefty amount, right? Well, compare that to mined diamonds, which use 538.5 million joules. However, certain lab diamonds, such as those from Diamond Foundry, are cultivated using 100% renewable energy. If sustainability is a priority for you, lab grown is the way to go.

Beyond the electricity issue, lab-created diamonds also require significantly less water per carat compared to mined ones—only 18 gallons versus 126 gallons. Moreover, they boast substantially lower carbon emissions. In essence, if you're concerned about climate change, flaunting your support for the cause with a dazzling lab-created rock is an excellent way to do so.

3. Lab diamonds are not real diamonds

You make ice in your freezer right? Would you prefer to find some naturally formed ice for your chilled rosé?—same principle applies to lab-grown diamonds. They're natural, just created through a different process (by machines rather than Mother Earth). Lab-created diamonds possess atomic, physical, and optical characteristics identical to natural diamonds.

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4. You cannot get lab grown diamonds valued

Just as some grading labs now offer certification for lab-grown diamonds, jewellery valuers will assess them as they would any natural diamond, based on their current market worth. So, yes, your appraisal might specify "lab-created," which accurately reflects its nature. However, remember, a valuation doesn't determine the value of your diamond or what you paid for it. Its purpose is to ascertain the replacement cost for insurance purposes.

Additional note: please, please, pretty please ensure you have your jewellery valued and insured. There's nothing more distressing than damaging or misplacing the symbol of your affection to learn this lesson. Moreover, as diamond values fluctuate, consider having your diamond revalued periodically to ensure you're not overpaying for insurance.

5. All lab diamonds are the same

Lab-created diamonds aren't churned out with a cookie cutter or on an assembly line, it isn't as simple as you might think. Though technology is advancing, each lab-grown diamond maintains its individuality—they're unique. But let's be clear: not all lab-created diamonds are equal.

In fact, every lab diamond begins its journey from a distinct seed, similar to a plant. There are two primary types: CVD diamonds and HPHT diamonds. In both methods, the diamond seed imparts its characteristics to the newly formed gem.

Lab-created diamonds also exhibit the same inclusions as natural diamonds and can even display fluorescence. Therefore, it's essential to approach their purchase with the same caution and attention to detail as you would with a natural diamond. Their prices fluctuate based on the 4C's—cut, color, clarity, and carat—just like mined diamonds.

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6. You can only buy small lab grown diamonds

This was once a very true widely held belief, but things are evolving quickly and that is no longer the world we live in. Take, for instance, the breakthrough achieved by the team at Ausburg University in 2017—they successfully grew a 155-carat diamond in disc form, conclusively debunking this myth.

7. Lab grown diamonds are expensive

Although lab-grown diamonds are still relatively pricey compared to, let's say, an iPhone, they're sold for about 70% less than a similar mined diamond. For instance, a 2-carat lab-created round diamond might set you back around £4,000, whereas a mined diamond of the same size could cost around £16,000. The savings you make could easily fund your wedding, an fantastic honeymoon, or even a shiny new iPhone.

Still uncertain about lab-grown diamonds? These are the most frequently asked questions.

Still following along? Still feeling uncertain? We understand; you're not alone—believe us. That's why we've compiled the most commonly asked questions from clients considering a lab-grown diamond.

Are lab grown diamonds worth anything?

Their value is determined by market demand, currently around 60% lower than that of natural diamonds. Are they a viable investment? No, and the same goes for natural diamonds. Are they a beautiful, sparkling representation of your own personal love story? Absolutely.

Are lab grown diamonds real?

100%, as mentioned previously, lab-grown diamonds are genuine diamonds—atomically, optically, and physically. Despite being labeled by some with terms like "fake diamonds," or "synthetic diamonds," the truth remains: they are authentic diamonds, albeit formed through a different process.

Are lab grown diamonds good?

Lab-created diamonds are just as high in quality as natural diamonds. They offer the same spectrum of characteristics, allowing you to choose between an affordable, heavily included warmer-colored lab diamond or an internally flawless, super-white one—it's entirely up to you.

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Is a lab grown diamond worth it?

We believe so! It ultimately boils down to achieving the desired appearance within your budget. Some couples prioritize provenance over clarity and color, while others focus on maximizing carat weight. There's no definitive right or wrong answer—only what suits your preferences best.

Need help finding your perfect lab grown diamond?

Get in touch with our expert team here at Beards. For over 220 years, we've crafted beautiful fine bridal jewelry and engagement rings at our headquarters here in Cheltenham. Since 1804, we've been a trusted family jeweller.

Contact us via phone, email or webchat to start your lab-grown diamond journey.