In a world with soaring prices and a greater need than ever to make the most efficient use of one's budget, it is important to know that you don’t need to break the bank when it comes to finding your perfect engagement ring. You may be wondering how, given the well-known myth that one needs to spend 3 months salary on your ring of choice. Of course this was just a marketing ploy in order to boost profits, but it is not a message to benefit customers. While it’s true that buying a diamond ring is not like heading down to your local corner shop for a snack, if you shop smart, you can save yourselves thousands of dollars in the process.

 

Introducing the world of lab grown diamonds! To avoid any doubt, a lab grown diamond is as real a diamond as one that is mined from the ground, as stated by the GIA. Just as there are various flavors of ice cream, so are there differences in the world of diamonds, but both natural and lab grown diamonds are just that - real authentic diamonds.

 

So why look at lab grown diamonds, as opposed to those mined from the ground? Aside from the various issues to consider that give lab diamonds an advantage, such as production methods and associated costs, effect of mining on nature and communities in mining areas, as well as the removal of moral and ethical questions, a key outcome of a lab grown diamond is the better price tag for you the consumer.

 

Of course, the reduced production costs that allow for a better retail price does not mean a compromise on quality. Lab grown diamonds undergo the same rigorous

4 C testing, (color, carat, cut, and clarity), in order to ensure the highest quality product possible.

 

To demonstrate the price differences, take for example a $1000 budget. This could get you a 0.4 carat natural diamond, or a 0.7 carat lab grown one. A $3000 budget could afford you a 0.7 carat diamond or a 1.5 carat lab grown diamond, and a $5000 budget may allow for a 0.9 carat diamond or a 2 carat diamond and so on. As you can see, the difference in pricing and carats between lab grown and similar mined diamonds is significant.

 

Looking at it another way, if you are looking for a 0.5 carat diamond, then going natural could cost you $1850, vs. $720 for a lab grown equivalent. A 1 carat diamond could be $7355 vs. $2110, and a 3 carat diamond might be $44,800 vs. $15,600.

 

Whichever way you look at it, affordable lab diamonds get much more bang for the buck. Not only this, but you can tailor make and customize your stone much more when producing it in a controlled environment. This can also help you balance cost and expectations when it comes to finding your perfect stone for that special ring.

 

We hope this has given you some food for thought! If you need any help with choosing your diamond engagement ring, or would like some more information on the best lab grown diamond engagement rings, please email us at hello@thebetterdiamonds.com or contact us here.