When it comes to buying wedding rings, the choice of the diamond can move down to two primary options, which include natural diamonds and cultured diamonds. Each option has endless features and advantages; however, the cost remains the most sensitive factor. Thus, the current paper aims to identify whether lab-grown diamonds are cheap or not as compared to natural diamonds.
What Are Lab-Grown Diamonds?
A form of cultured diamonds refers to manmade diamonds developed through technological advancement in two primary techniques known as High Pressure High Temperature (HPHT) and Chemical Vapour Deposition (CVD). Even though they are synthesised in laboratories, these diamonds are chemically, physically, and optically identical to naturally grown diamonds. They are commonly known as synthetic or cultured diamonds; however, they are known to be as close to a natural diamond as it can get.
These diamonds are grown in laboratories under controlled circumstances that can imitate how diamonds are synthesised in the earth. To make a lab-grown diamond, it may take weeks or even months in some cases, but when completed, the result is a stone that is indistinguishable in physicality and hardness relative to a natural gemstone.
Price Comparison: Lab-Grown vs. Natural Diamonds
It is for this reason that more and more couples are now opting for lab-grown diamonds for their wedding or engagement rings since they are cheaper than the original ones. Compared to natural diamonds, lab-grown diamonds can be 20-40% cheaper as they possess the same characteristics, such as quality, size, and cut. It is, therefore, evident that expensive prices are largely because cultured diamonds can be produced at a relatively cheaper cost than naturally occurring diamonds.
Why the Price Difference?
- Manufacturing Process
One of the main reasons why cultured and mined diamonds have a price difference is how they are produced. Natural diamonds are found on the earth through mining, a process that encompasses searching, digging, and moving the products to different places. These steps entail a lot of costs and time, which is a key factor in the expensive costs of a natural diamond.
On the other hand, synthetic diamonds are man-made and are cultured in laboratories; therefore, no mining is involved, and the costs and dangers of mining are evaded. The technology involved in the growth of diamonds in the lab is fast and makes it possible to produce them in large quantities, and this cuts costs. - Market Demand
With regards to the market forces, another cause of this price difference is the demand force of the markets. In general, natural diamonds have always been synonymous with luxury, status, and rarity, which helps push up their prices. The natural diamond industry also continues to enjoy a marketing that has been conducted for over a hundred years, creating a belief that the commodity is unique and rare.
Lab-grown diamonds are relatively new in the market, satisfying the demand for diamonds. This is why, with the population gradually getting to know more advantages and characteristics of lab-grown diamonds, demand only grows. Thus, the social association of natural diamonds with prestige helps to uphold the price difference. - Certification and Quality Assurance
It is essential to understand that quality examination is conducted on both laboratory-grown diamonds and natural diamonds, and the certificates are issued by the same conventionally known Gemological Institute of America. This means that a consumer gets a good-quality diamond no matter the source they come from which it comes. The majority of the diamonds sold in the market come from different parts of the world, and it is good that their quality is well regulated so that when a consumer is purchasing a diamond, they are assured that they are getting a quality diamond.
Yet, it is cheaper to cultivate diamonds in the laboratory; hence, the best price is given for the manufactured diamonds.
Conclusion
Thus, lab-grown diamonds are a viable and affordable solution when it comes to wedding rings for couples. Still, they have imperfections, which are somewhat similar to that of natural diamonds and, at the same time, more affordable. With the changing trends concerning the use of technology and the awareness of lab-grown diamonds in the diamond market, the demand for lab-grown diamonds is expected to rise in the future.
But it is recommended to opt for either lab-grown or natural diamonds, depending on one’s preference, ethics, and wallet. Men who wish to propose traditionally are not wrong, as natural diamonds have the promise of never fading and are also associated with eternal love.
Altogether, it is a very personal decision as to which diamond to select for the wedding ring, but everyone ought to know the differences in cost and the origins of the diamonds so they can always choose what is best for them.
