Making the choice for an engagement ring can be very personal for each couple, as well as having to worry about the value, durability and the cost over the long term. Lab-created diamond engagement rings have been gaining popularity in recent years due to their beauty, brilliance and sustainability being more affordable than traditional mined diamonds.
So what are the benefits of purchasing a lab-created diamond?
We will go into detail about everything that goes into deciding whether to purchase a lab-created diamond engagement ring, including concerns regarding investment potential and resale value.
Why Is The Demand For Lab-Grown Diamond Engagement Rings Increasing?
The reasons lab-created diamonds have gained so much popularity are due to their high quality and affordable price points. Lab-created diamonds are identical in every way - including chemical structure, optical properties, and therefore they will hold up just as well as a natural mined diamond when being worn every day.
There are a number of couples that appreciate how lab-created diamonds are created using technology in controlled environments, making them a "guilt-free" luxury. Additionally, lab-created diamonds do not affect land use, do not disturb the earth and have a significantly lower carbon footprint than natural mined diamonds.
Despite the fact that purchasing an engagement ring is an emotional purchase for most couples, many couples still take practicality into consideration when purchasing an engagement ring, such as whether the diamond would be considered a good investment or hold its value when resold. The fast answer is "It depends on what the word 'value' means for you.
Be Aware Of The Diamond Resale Value
As with most jewellery & luxury items, when you purchase a diamond, either natural or lab-grown, you will usually resell it for less than its full retail value; this holds true for any jewellery/luxury good. However, there are additional factors that will affect the resale price of a lab-grown diamond compared to the resale price of a natural diamond.
- The technology used to produce lab-grown diamonds is advancing faster than ever and is causing prices to fall.
- There is a growing supply of lab-grown diamonds available in the marketplace.
- The resale market is still in the process of evolving.
If your primary reason for purchasing a diamond is based on emotional reasons, design and durability, then lab-grown diamonds can still be considered a high-value product because they do still provide excellent quality and value. If you are primarily interested in purchasing a diamond for investment purposes, you may find that a natural diamond could achieve a higher resale price than a lab-grown diamond.
Are Lab-Grown Diamonds Durable Enough To Be Worn Every Day?
Yes! Lab-grown diamonds are 10 on the Mohs scale of hardness, the same as natural diamonds; therefore, they are one of the hardest materials known to man. This makes lab-grown diamonds perfect for use as an engagement ring or wedding band for your daily wear.
If you choose a lab-grown diamond as a solitaire ring, halo, or if you choose to wear lab-grown diamond rings as a stack from a 'curated' collection or any other type of jewellery, durability will never be a factor.
Things To Consider When Buying Lab-Grown Diamond Engagement Rings
When purchasing lab-grown diamond engagement rings, keep the following things in mind:
1. Budget
Lab-grown diamonds are typically 40 - 60% less expensive than natural diamonds, so you can purchase a larger or higher quality lab-grown diamond for the same price as a smaller/lower quality natural diamond.
2. Certification
For your lab-grown diamonds to be of the highest quality, check for either IGI or GIA certification.
3. Personal Priorities
If building a long-term asset or investing in a diamond is important to you, consider how the resale of your diamond may affect your investment.
If the design, quality, price, and sustainability of your purchase matter more to you, then lab-created diamonds are an excellent choice.
4. Future Buying Options
Many people are now buying everyday 'fine jewellery' in addition to engagement rings, such as pendants, bracelets, and even lab-created bangles, all made to the same high standards.
Are Lab-Created Diamond Engagement Rings Worth It?
Yes! The beauty, durability, sustainability and the engagement ring value-for-money make it a great choice.
Couples today are opting for lab-grown diamond rings to get the same brilliant visual impact at a fraction of the price while still carrying the emotional significance of a major purchase. A lab-created engagement ring can be one of the smartest choices you will ever make if you understand the diamond resale market.
Frequently Asked Questions (FAQ's)
1. Do lab-grown diamond engagement rings count as 'real' diamonds?
Yes! Chemically and physically, they are identical to mined diamonds and will sparkle, be strong, and last forever in the same way as a mined diamond.
2. Are lab-created diamonds good for investment purposes?
If you are interested in financial returns, mined diamonds are likely to do better than lab-created diamonds. However, most buyers purchase lab-created diamonds primarily for their lower price and sustainable qualities.
3. Will lab-created diamonds decrease in value with time?
As with most luxury items, the resale value for both natural and lab-created diamonds is less than the retail price. The resale value of lab-grown diamonds may be lower due to the growing supply.
4. Are lab-created diamonds suitable for daily wear?
Yes! They score 10 on the Mohs Hardness Scale and are therefore ideal for daily wear.
5. Should I buy a natural or lab-created engagement ring?
Your preferences will determine how this question is answered. If your preference is for emotional value, design flexibility, and lower prices, lab-grown diamond engagement rings are an excellent choice. If your preference is for long-term asset value, you may wish to purchase natural diamonds.