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How Much Does a Lab-Grown Diamond Cost for Your Engagement Ring?

BY Bhakti Parekh | 05 Jan, 2024 | 3515 views | 6 min read

Picture this! You're madly in love with your soulmate, and simply cannot wait to embark on the next phase of your life together. Asking your lady-love to marry you is a big deal. There is no doubt that when you propose to her in a picture-perfect setting implying a passionate, romantic rendezvous, you will want to surprise her with a gorgeous engagement ring that resonates beautifully with her personality as well.

Image Via: @diamondrensu 

Well, well! Giving you a slight hint to make her incredibly happy, aren't diamonds a girl's best friend? As a symbol of everlasting commitment, this precious stone's timeless and brilliant appeal fits seamlessly when worn by the fingers of love's eternal vows. As the daunting world of sparkle shopping descends, men (and many times even women- all hail, feminism!) get swept up in the myriad of choices. Should they opt for a princess cut or round diamond; a pronged or a halo setting? Ah, and the list goes on! 

Image via Riya and Shrey

But, just like all millennial or Gen Z couples who are economically prudent, the exorbitant prices of a glistening diamond or solitaire engagement ring will shock you and how! After all, it costs to be cool, doesn't it? A misconstrued notion, what if we told you that you could buy a ring of similar brilliance of your choice at half the price? Sounds too good to be true, right!? Enter- lab-grown diamond rings; a variation of this stone that bears testament to modernistic marvels, and doesn't break the bank as badly!

How is a Lab-Grown Diamond made?

As we all know, real or rather, natural diamonds are formed deep within the Earth's mantle over millions of years, which are then mined from below the surface. They are the rare by-products of natural processes occurring due to intensified pressure and elevated temperatures that solidify carbon into this precious stone.

Lab-grown diamonds, eponymously are created in controlled laboratory environments by replicating natural, earth-bound processes. They are formed using various methods like High-Pressure, High Temperature (HPHT), or Chemical Vapour Deposition, in which, carbon atoms are assembled to form diamonds under man-made conditions.

Image Via: Varuna D Jani Fine Jewellery

Factors Affecting the Value Proposition of the Lab-Grown Diamond Engagement Ring

Apart from the aspect of affordability, the decision to invest in a natural or lab-grown diamond ring depends on the personal preferences of the consumer.  Since both are "real" diamonds, the differences in their constitution are also minimal. 

With regards to their 4 C's, namely, cut, clarity, colour, and carat weight, the minuscule differences are not visible to the naked eye. Given their innate nature of being built, and not naturally grown, lab-grown diamonds often include inclusions or "flaws". Besides possessing similar colour gradients, they are also highly durable, being considered the world's hardest substances. 

While natural diamonds are formed of pure carbon atoms arranged in the structure of a crystal lattice, lab-grown diamonds, too follow this same process under artificially aroused conditions. 

While most of their qualities are believed to be similar, it is not surprising that you may wonder why lab-grown diamonds are available for a significantly cheaper price. This is because natural diamonds are extremely rare, adding a touch of exclusivity and historical charm, unlike lab-grown diamonds which are more easily accessible, and whose brilliance is birthed by human ingenuity and precision. 

Diamonds on a Dime: Comparing the prices of The Variants Based on their Bling Quotient

Today, diamonds can be prizeless, yet priceless! While the costs of lab diamonds are in a constant flurry, findings of a study showed that the global purchasing habit in favour of this man-made stone has increased from a meager 1% in 2015 to a whopping 20% in 2023. Moreover, the abundant supply of the same has massively lowered its price range to a drop of 75% as compared to an engagement ring made in a natural diamond, which, unflinchingly holds vigorous prestige.

After researching all things bling, to foster more sparkle, whiz a viz, carat weight for a reasonable price, check out a cost-comparison for the same, irrespective of them being a perfect number or in-between values, known as off-size. For practical purposes, here's what different carat size diamonds look like:

Image via whowhatwear.co.uk via Pinterest

So let's take a look at the comparision in the prices between natural and lab-grown diamonds of different sizes. 

1 carat Diamond Engagement Ring

Image Via: Pinterest; 1-carat lab-grown diamond ring

Image Via: Pinterest; 1-carat natural diamond engagement ring

Natural diamond engagement rings are rare, but their scarcity celebrates antiquity in the present millennia, just like infinite love that stands the test of time and grows more enduring. Lab-grown diamond rings are priced as low as 90% lower than natural alternatives. On average, 1 carat lab-grown diamond rings cost between INR 40,000 - 1 lakh, while natural alternatives can cost over INR 3 Lakhs, depending on the clarity of the solitaire, and can go up to INR 10 Lakhs! However, different brands may charge different production charges and profit margins.

2 Carat Diamond Engagement Ring

Image Via: @cullenjewellery; 2-carat lab-grown diamond ring

Image Via: Pinterest; 2-carat natural diamond ring

As the love saga of a 2-carat diamond reveals its timeless allure and enchanting brilliance, the natural diamond's depth of origin is evident through its captivating sparkle, while its lab-grown counterpart offers an unrivaled sophisticated finesse. A 2 carat lab-grown diamond can cost anywhere in the proximity of around INR 2 Lakhs, while the price of its natural counterpart can go beyond a splash-worthy price of approximately INR 5 Lakhs and above. 

3 Carat Diamond Engagement Ring

Image Via: House Of Quadri 3-carat lab-grown diamond engagement ring

Image Via: Pinterest; 3-carat natural diamond ring

Can I just say that I'm low-key crooning to pop icon, Riri's hit number, 'Shine bright like a diamond', looking at these dazzling diamond engagement rings! The 3-carat natural diamond ring is a stunning example of beauty and prestige, while its lab-grown counterpart is a sustainable and accessible option. The lab-grown diamond ring is much more affordable, priced around INR 3-4 Lakhs, while the all-natural diamond ring can cost as high as INR 15-20 Lakhs (in all regalia). 

Keeping these facts in mind, it is also important to remember that all-natural diamonds with varying carat weights are available at strikingly low or high prices, depending on the quality of the craftsmanship and innate factors.

While there's no right or wrong choice while making your pick, here's an essential fact for y'all! As lab-grown diamonds are said to reduce environmental impact whilst promoting, controlled, safer labour practices, these options are considered more ethically coherent.

Now, now! We hope this article equipped you with the necessary information on your dreamlike sparklers.

Wondering where do you get these beauties?  Read on to find out Where To Buy A Lab-Grown Diamond Ring !

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