The price of a lab-grown diamond definitely is important as it serves as verification the only kind of diamond we know about and talked about for years are the natural diamonds that are found in the earth’s crust. However, the lab-grown diamond industry has seen an increase in demand for these diamonds recently. The prime reason for it being that lab-grown diamonds are considered eco-friendly and do not harm the environment.
Lab grown diamonds, as the name suggests, are grown in a laboratory and are basically man-made diamonds. They undergo various processes under certain conditions to create what we call a perfect diamond. Lab-created diamonds have accurate attributes as any mined diamond. When we talk about the pricing of lab-created diamonds, previously, they were priced about 40% lesser than mined diamonds. However, these prices can often fluctuate. Diamonds are eternal stones that have seen an increase in their prices over time. Every piece of this gemstone, whether natural or lab created diamond, is priced according to its cuts, clarity, color, and carat, the 4C’s.
For instance, a one-carat lab-grown diamond can cost about $2000, while a 5-carat lab-grown diamond can cost up to $100,000. It all depends on what type of diamond you purchase. The more the cuts and carat increases, the higher price you will have to pay for it. Factors That Influence Cost of Lab-Created Diamonds
Since you know that the prices of lab create diamonds fluctuate, let us understand what determines its overall cost. There are certain factors that have to be taken into consideration when any lab-grown diamond is priced. These factors are definitely the 4C’s, and some additional factors are the certification and shape of a diamond.
Here’s a list of the factors that can influence the pricing of lab-grown diamonds.
This is one of the typical factors for any diamond. The more the diamond weighs, the higher the price will be.
The cuts in a diamond are the main features that will highlight the beauty of the stone. The more cuts your diamond will have, the better it will look. These cuts influence the light that passes through the diamond and makes it shine brighter. Hence, the lab-grown diamond with more number cuts will definitely be priced higher than a diamond with fewer cuts.
A prime factor that affects the price of a lab-grown diamond to a greater extent is its color. That is because colored diamonds are very rare and can be created only under certain conditions. Besides, natural colored diamonds are also very rare to find, which makes the lab-grown diamonds more valuable and hence leads to an increase in their price. Moreover, lab-created colored diamonds are rated on a scale by IGI. This scale determines the shade of each color and accordingly impacts the price of the diamond.
Everyone wants a diamond that is perfect, isn’t it? Thus, the clarity of a diamond plays an important role in its pricing. A diamond that is free of any imperfections like blemishes is certainly valued higher than a diamond with visible imperfections.
The shape of a diamond influences its sparkle, and the one shape that gives out the most sparkle is the round brilliant diamond. This diamond offers a shine like no other and therefore, it is priced higher than any other diamond shape.
Although certification does not influence ion for the lab-created diamonds that you purchase. For instance, you can purchase a diamond from New World Diamonds, an online diamond store where all lab-grown diamonds are certified by IGI.
Increase in the Price Scale for Lab Grown Diamonds In 2021
A few years ago, it would cost a lot of money to just produce lab-grown diamonds. However, with the advancements in technology, it is now possible to create the best lab-grown diamonds with 100% accuracy and precision. This has set a high bar for natural diamonds as well.
Due to all these reasons, lab-grown diamonds are in high demand today and are set to develop their own price scale in 2021. This price scale will definitely depend on the factors given above as people can purchase a diamond that suits exactly what they’re looking for.
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