Are Lab-created Diamonds Worth Anything : A Guide To Synthetic Stone Value

The simplest answer is yes, lab-created diamonds have an inherent worth as they have identical chemical compositions with Earth diamonds. In many cases, lab diamonds can even be more eye-clean and pristine than a mined diamond because of the predictable way in which it grows in a lab environment, unhindered by foreign elements or sudden environmental changes as it could be in a deep-Earth environment.

Another way of saying it is that if you put a man-made and Earth gemstone with the same high clarity, sparkle, and vibrant colouration side-by-side, the latter would be exponentially more expensive based merely on the fact that it grew in the bowels of the Earth.

For some consumers, the precious stone that grew in a natural environment is more attractive. For other shoppers who may be more eco-conscious of the effects of gem mining or simply more cost-aware, a larger, more sparkly lab-grown diamond for the same amount of money is a crystal-clear choice.

In this guide, we will break down exactly how public perception of lab-created gemstones has evolved through time, how the worth of lab diamonds is determined, and the key factors that make Earth diamonds more expensive.

Diamonds are so highly valued primarily because:

1. They have the esteemed title of being the hardest minerals known to man;
2. It costs a lot to mine and process them to get them to market;
3. and there is a limited supply of gemstone quality diamonds.

Another element of diamonds’ elite status is due to De Beers’ great marketing in its now infamous 1947 ‘A Diamond is Forever’ campaign. However, diamonds were highly sought-after long before this, starting from the 15th century in Europe (below, see Queen Victoria of the United Kingdom and Queen Alexandra of Denmark wearing diamond-encrusted jewellery signalling their royalty in the 19th and 20th century, respectively).

Today, diamonds are still the prominent stone of choice for wedding jewellery, but the industry is seeing more consumers choosing alternatives like sapphires and emeralds in engagement rings.

When lab-grown diamonds were first formulated, they were used in decidedly non-glamorous ways, as tool coatings, specialised windows, and high-resistance lenses. Producers of these synthetic diamonds weren’t convinced that they would be embraced for jewellery applications, but this was indeed the sunset era of diamond rarity.

As the concept of green consumerism becomes more widely welcomed, attitudes toward created stones have warmed. Brands who introduce created gems into their product lines became less and less seen as trying to pass off ‘fake’ diamonds as the real deal, and more to be catering to a growing environmentally-aware customer base.

Today, as the technologies used to produce ethical man-made gemstones have been perfected over time, industry professionals are now able to create almost any type of gem in a lab in bigger sizes and sought-after hues.

All products are evaluated for their worth according to rarity and demand. The fact remains that synthetic gemstones are priced lower than mined gemstones, and this mainly comes down to the following factors:

• They cost less money to make;
• They can be made in a much shorter time (weeks compared to thousands or millions of years);
• They require less energy and heavy machinery to produce;
• They can be made using a tiny gem sliver, called a ‘seed’ (this contributes to making lab gems renewable);
• There is a technically limitless supply compared to the finite number of diamonds humans can mine from the Earth.

Yet, the technical knowledge, energy, and time used to make a lab gem is still significant. This labour, coupled with the fact that lab and mined gems are chemically and visually indistinguishable, are what determine the cost of man-made diamonds.

All diamonds, man-made or mined, are priced using the Rapaport Pricing Method which primarily takes into consideration the stone’s carat, cut, clarity, and colour. The larger the stone, the greater the clarity, the more attractive the colour, and the more beautifully cut to reveal the gem’s most desirable characteristics, the higher the price is.

Below is a table breaking down synthetic stone prices, which compares the average prices of mined and lab-grown diamonds based on carat size.

These prices are based on round-cut diamonds of D or E colour and ‘internally flawless’ clarity (IF), which denotes the second-highest clarity that diamonds can have under the GIA Clarity Scale.

In short, man-made diamonds can sell for 50-80% less than mined diamonds.

It’s important to factor the cost of the jewellery design into the final cost of your diamond ring or necklace. For example, do you want any complementary stones? How do you want to set the stone? Some stonesetting styles are more difficult to do and/or require more materials to achieve and thus cost more.

BIRON® understands better than most that the true value of lab-grown gemstones is in their sameness to Earth gemstones, without the environmental or human rights conflicts associated with in-demand gems like diamonds.

The Company therefore, under the BIRON® brand, produces and sources conflict-free, lab gemstones in seven colours and ten shapes. We provide businesses with the most sought-after types and colours of gems in the market at a significantly lower cost than Earth gems. Get in touch for a complimentary consultation to see how our gemstone sourcing, cutting, polishing, and design services can assist your sustainable gem venture.