The cost savings of lab-grown diamonds

Being an affordable option compared to natural diamonds, many people believe that lab grown diamonds are lower in beauty, authenticity, and quality. In reality, it is far from being true. Lab-grown diamonds are worth the investment. Hence, its popularity exploded in the last few years.

With the increase in demand, prices have dropped significantly. As such, a 5 carat lab grown diamond cost dropped dramatically as well. However, do they hold their value over time? Learn more about the cost savings of lab-created diamonds in this post.

How much do lab diamonds cost? 

According to reports, the average price of a lab diamond was about $4383 in 2021. Whereas, the average price of a mined diamond was $8053 in 2021. Lab diamonds are less expensive and they have grown in popularity.

Now, people can afford more for less. Still, the craze for Asscher cut diamonds for sale is there on the market. So, what makes lab diamonds cost less? The process of growing lab diamonds is easy compared to finding natural diamonds from the earth’s crust. 

But it doesn’t mean that lab diamonds don’t possess the same characteristics as natural diamonds. Typically, lab created diamonds are sold for around 40% less than mined diamonds.

Do lab-created diamonds hold their value over time?

With the increasing popularity of lab diamonds, many people wonder whether man made diamonds will hold their value. However, the piece of bad news is that lab-grown diamonds don’t hold their value like natural diamonds do.

According to the standards of the diamond industry, a mined diamond will hold around 25 to 50% of its value. But lab diamonds may have little to no value after some time. So, how much does a lab diamond depreciate? A lab diamond may be worth a minimum value after resale.

What about the resale value of lab diamonds? 

Sadly, lab-grown diamonds have little to no value when it comes to reselling the piece. It means when an individual buys a lab diamond, chances are that they won’t get what they had paid for earlier. For example, trying to sell a lab diamond on a popular e-commerce platform will give pennies for a dollar.

Although the market for lab diamonds isn’t as large as the mined diamonds, there is a resale value for every lab diamond purchased. The resale value will depend on the quality and carat of the diamond. Also, it depends on the diamond commodity market which fluctuates constantly.

Besides, most jewelers won’t buy lab diamonds. But it is possible to resell those diamonds to individuals or third parties. These are the places where the demand for lab diamonds is more. Getting 100% of the amount back might not be possible. But the amount should be higher than what retailers would have offered.

Why buy lab-grown diamonds? 

At this point, the concerned buyers might find themselves in a confused state. Probably, one question that’s going on in their minds is whether they are having something that has low quality because lab diamonds are priced lower than natural diamonds.

No need to consider buying diamond simulants such as Moissanite or Cubic Zirconia. Lab-created diamonds are as real and original as natural diamonds are. Even international certification bodies like the IGI and GIA recognize lab diamonds as real diamonds.

These organizations grade these diamonds the same way they grade other diamonds. Just compare the properties of both these types of diamonds and see the difference.

Buy a lab-grown diamond today

Looking for a gorgeous diamond ring to make the moment special? If so, choosing lab-grown diamonds can help save big money rather than buying natural diamonds. Rare Carat has some of the finest collections from reputable brands for its esteemed buyers. The best part is, Rare Carat has impressive deals that make buying diamonds a breeze.

Lab-grown diamonds are trending these days. Still, the challenges and opportunities to find authentic pieces are what make the buyers confused. Rare Carat offers high-quality, natural, and lab-created diamonds at competitive prices. Besides, they have astounding customer service. 

The 4.9-star ratings on Trustpilot and Google Business Profile show that Rare Carat is dedicated to providing the best of services to its customers. They compare millions of diamonds, both natural and manmade to save money. Visit Rare Carat to choose from a wide variety of GIA-approved diamonds.