The rule of a month's salary may no longer be the case. Find out if a lab-grown diamond is the right choice for you.
The popularity of lab-diamonds quickly increased as a popular center stone choice for engagement rings, but how much should you spend on one? Well, you can expect to spend significantly less than a natural diamond. Opting for a lab grown diamond will provide you with a much larger amount of flexibility in your engagement ring shopping budget, giving you more freedom to select the engagement ring of your dreams. It’s important to note that while lab grown diamonds open opportunities in regards to budget and styles, they are not considered to be a long term investment. Here, at Roman Jewelers in Bridgewater, NJ, we provide a wide range of engagement rings where every setting is crafted to fit your center diamond, whether natural or lab grown.
4 Factors That Impact the Pricing of Lab-Grown Engagement Rings
1. The 4C’s:
Lab-created diamonds are graded using the same 4C’s used to grade a natural diamond's quality. The carat weight, diamond cut, clarity, and stone color are the biggest determinations when identifying the price point of a lab grown diamond. To easily understand the 4C’s, we’ll break it down below.
● Carat Weight: Refers to the weight of a diamond, whether it’s natural or lab grown. Typically, the larger the diamond, the higher the price. Lab grown diamonds in the 1-carat range can be significantly less expensive than natural diamonds of the same size, potentially giving you more wiggle room in your budget for a larger center stone size.
● Cut, Clarity, and Color: In general, the higher the quality of the cut, clarity, and color of a diamond, the more expensive it is. For example, higher clarity graded diamonds (VS1, VS2), and "excellent" or "ideal" cuts, will be more expensive than lower clarity graded diamonds and fair cuts.
● Value Comparison: For diamonds of the same carat weight, the price of a lab grown diamond generally averages around 30%–40 less than a natural diamond, making it a much more affordable option for higher-carat weight diamonds.
2. Customizing Your Lab Grown Engagement Ring:
One of the biggest benefits of custom lab-grown engagement rings is that they are uniquely crafted to your desired specifications. Our design team at Roman Jewelers is here to make custom engagement rings that are as singularly distinctive as you.
● Customization: Custom lab-grown engagement rings typically cost more due to the time and labor involved in creating a unique design. Custom rings may involve selecting unique diamond shapes (e.g. oval vs. pear diamond), complex details, and personalized touches, all of which affect the price.
● Design Complexity: Stricter or more elaborate designs will also affect cost. For instance, a custom ring with a halo design or split shank design will require more craftsmanship skills and labor involved in creating that piece.
● Intricate Settings: Settings that feature pavé diamonds, filigree, and engraving will also affect the cost; all of these factors create intricacy and require more time and labor to make sure that they are done properly.
3. Vintage VS. Modern Ring Styles:
Both vintage and modern styles are marketed with price points across different ranges with lab-grown engagement rings.
● Vintage-inspired lab-grown engagement rings: Vintage-inspired lab-grown engagement rings, such as rings featuring antique antique styles, including filigree, milgrain, and halo details, will generally be more expensive due to intricate details and classic design styles. Vintage collections will also take more hours of craftsmanship to recreate traditional design techniques.
● Modern lab-grown engagement rings: Modern styles (geometric designs, solitaires, minimalist settings, etc.) are usually less expensive than vintage styles because they utilize simpler, cleaner designs and construction.
● Cost Comparisons: Modern styles will generally cost less than vintage styles; however, vintage-lab grown engagement rings offer a unique or personalized look, which may justify an increased cost.
4. Selection of Metal & Setting
The metal you opt for in your lab-grown engagement ring will generally affect the amount you may pay in total. This is because different kinds of metal vary in price, and each ring setting will vary in the amount of metal required to craft a complete engagement ring.
● Metal options: Platinum is generally the most expensive, as it is durable and rare, while white gold, yellow gold, and rose gold fall just behind. Although platinum provides the option of luxury and longevity, gold alloys can be advantageous if you're concerned about price, and still look beautiful.
● Setting styles: More elaborate settings, including pavé (small diamonds set into the band), bezel (diamonds set in a metal frame), or three-stone designs (with a center diamond and two side diamonds), will drive the total amount up, particularly if you go with a more complex option. As the settings become more elaborate, they will cost more due to the added labor and materials involved.
How Much Should You Spend?
One fantastic feature about lab-grown engagement rings is they are a lot more flexible, and can often accommodate a wide range of budgets. There is not one set in stone answer on how much you need to spend, but more so, how much are you comfortable with spending in a responsible manner?
● Price Breakdown: The most common price of lab-grown engagement ring settings typically ranges between $1,000 and $10,000 depending on the carat weight itself and diamond quality, metal, and ring type in general. Smaller rings with easier designs will be closer to the lower end of the price range, while larger and more custom-designed rings will be closer to the higher end of the price range.
● Lab-Grown vs. Natural Diamond: Lab-grown diamond rings will offer more overall value, in general, than their natural diamond counterparts. A similar-sized natural diamond will typically cost several thousand dollars more than a lab-grown diamond; however, both will give you the same aesthetic and look, while the lab-grown ring will not have the same cost. Natural diamonds are considered to be rare and investment worthy, while lab grown diamonds are not suitable for investments. A unique feature of lab grown diamonds is that you have more choices for the diamond quality that you desire, and they are often accompanied by origin reports, verifying where and how the diamond was grown.
● Affordable: The cost of lab-grown diamonds makes it much easier to find a beautiful ring that meets your style and budget. Lab-grown diamonds can offer you the cost savings so that you get the ring you had visualized, whether that is an airy solitaire or handcrafted larger custom design, without sacrificing traditional beauty. Choosing lab-grown engagement rings will give couples room to not only stretch the budget, but select from a variety of options and styles to suit the entire budget.
When shopping for engagement rings at Roman Jewelers, you can expect an easy shop with any budget when there are beautiful lab-grown engagement options that suit the vision and budget couples have! Overall affordability and flexibility with lab-grown diamonds take the pressure off of the budget and ensure you are likely to get the ideal ring!
10 Interesting Engagement Ring Settings to Accommodate a Lab Grown Diamond
While all engagement ring settings can accommodate a lab grown diamond center stone, it’s important to narrow down your preferences when it comes to the actual ring setting. Our selection of engagement rings features designer brands such as Gabriel & Co. and A.Jaffe. Each designer presents unique settings with their own striking details. Below are 10 interesting engagement ring settings to help draw inspiration from to help pick out your dream ring.
1. Gabriel & Co. 14K Two-Tone Diamond Semi-Mount Ring
2. Gabriel & Co. 14K White Gold Diamond Shank Engagement Ring Setting
3. A. Jaffe 14K Yellow Gold Diamond Engagement Ring Setting
4. Gabriel & Co. 14K White & Yellow Gold Diamond Row Semi-Mount Ring
5. Gabriel & Co. 14K White Gold Stone Engagement Ring Setting
6. Gabriel & Co. 14K Yellow and White Gold Solitaire Semi-Mount Ring
7. Gabriel & Co.14K White and Yellow Gold Diamond Semi Mount Ring
8. Gabriel & Co. 14K White Diamond Semi-Mount
9. Gabriel & Co. 14K Two-Tone Twist Engagement Ring Setting
10. Gabriel & Co. 14K White Gold Diamond 3 Stone Setting
Continue shopping Roman Jewelers online selection and design your own diamond engagement ring, whether it be lab grown or natural; we can help craft the ring of your dreams.