And finally, with demand for lab grown diamonds increasing exponentially, and energy and raw material prices rising, this could put upward pressure on cost of production.įor mined diamonds, there is a market-wide industry standard for how prices are determined.
Third, even though the process could continue to see innovations, it must still be overseen by diamond-growing experts and with the use of expensive machinery.
Diamonds are so hard, it requires specialized equipment and very well-trained cutters to produce a properly cut, beautiful diamond. First, lab-grown diamonds are still real diamonds, and for that reason, contain an inherent value reflected in their cost.
While we do not speculate on nor project future diamond prices, there are a few reasons to believe that lab diamond prices could hold steady from current levels. (To browse current loose diamond prices, we invite you to try our loose diamond selection). For example if you’re considering an excellent cut H color, nice SI1 clarity, 1 carat diamond, the natural, mined version would cost around $6,100 while the lab-grown version would cost around $2,300 for comparable if not better quality. The process to make them has also gone through repeated innovations and technological advances that have drastically reduced the production costs. Also, the diamond mining process has been around for a very long time and doesn’t often experience innovations.įor lab-grown diamonds, their awareness is much lower but they’ve been fast increasing in popularity. For one, the demand for mined diamonds remains much higher than for lab-grown diamonds and the market has a regulated supply, preventing too much supply from reaching the market at once and lowering the price. This percentage difference is based on a few factors. In a general comparison, lab-grown diamonds can typically cost 50-70% less than natural, mined diamonds.
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