Time for another Ball Out on a Budget- the series where we teach you how to enjoy the finer things in life without breaking the bank, and what is finer than a diamond?
You and your partner have been dating for a while, maybe moved in together, got a fur baby, and suddenly your DMs are filled with not-so-subtle photos of massive sparkly engagement rings. It’s clearly time to put a ring on it, and based on the DMs, your partner has expensive taste! Quick Google search and your jaw hits the floor. That little thing is how much?! Pick your jaw back up and take a deep breath. TMA is here to help!
There is a “new” diamond option out there, and the only difference is that it is not a “diamond in the rough”…but a diamond in the lab. That’s right. Gemologists are now creating diamonds in a lab. Are they still diamonds? Yes. Can you tell the difference between the two? Nope! Are they less expensive? Oh yeah. On average, lab diamonds are approx. 50 – 70% LESS than mined diamonds if not more depending on their 4C rating (cut, color, clarity, carat).
Here are some positive things to consider when it comes to lab diamonds:
Brighter quality, higher purity, and fewer defects because they are made in a controlled environment. In fact, lab grown diamonds actually receive higher purity ratings than their natural buddies.
Environmentally friendly– not only does it take less energy/fossil fuel to produce lab diamonds, but they also do not require the physical (and often questionable) labor that occurs in the mining process.
They are still GIA certified diamonds! Lab grown does not mean they are a simulant, like moissanite or cubic zirconia, which can have a gray or yellowish hue to them to the naked eye. Chemically and aesthetically, lab grown diamonds are the same as mined diamonds.
We’ll repeat…they cost 50 – 70% less than mined!
There is one con- regardless of whether the diamond is mined or lab grown, their value will depreciate and you will never get what you paid for it (should you want to resell your diamond later, which is typically not the goal). There are differing opinions on the resale value of mined vs lab; some argue you will get $50 for reselling a lab diamond compared to a 50% return on a mined diamond. Others say that that’s a lie jewelers pushing mined diamonds tell, and you can definitely get some return on lab grown diamonds. Regardless, they will depreciate at a faster rate, and that is a factor to consider.
We highly recommend Brilliant Earth diamonds- one of our team members, Adam, bought his fiancé a Brilliant Earth diamond, and she absolutely loves it- loves the fact she got a bigger diamond for better price and also because it was sustainably sourced- her ring is the ring in the blog photo, check it out for yourself! Adam loves it because it saved him $8500..shh
At the end of the day, a diamond is a diamond. Whether Mother Earth birthed her after a billion years in her mantle, or she is grown by Larry under a microscope, she is still a diamond and a representation of love and commitment to your partner. And if purchasing a lab grown diamond allows you to put an extra $10k in a savings account for a down payment on a house or into your future kiddo’s college fund, then we will go lab grown all day!
