Both diamonds are 1.01 carats, F color, VVS2 clarity and Ideal/Very good cut. The diamond on the left is natural and sold for $6,620, and the diamond on the right is lab-created and sold for $2,420.
Lab-grown diamonds have the same quality and appearance as natural diamonds, but cost 10% to 50% less. Like natural diamonds, the cost of lab-grown diamonds depends on their properties. Lab-grown diamonds with higher cut, color and clarity grades will command higher prices.
Unlike natural diamonds, the price of lab-grown diamonds does not increase exponentially with carat size. A round cut 2 carat natural diamond starts at about $14,000. You can get a similar lab-grown diamond for about half the cost. If you want a large diamond for your engagement ring or jewelry, consider a lab-grown diamond.
Lab-grown diamonds can also be colored and cost far less than natural colored diamonds. They are a great option if you want a fancy colored blue or pink diamond but don't want to pay a premium.
One disadvantage of lab-grown diamonds is that they have little resale value. Unlike natural diamonds, more lab-grown diamonds can be created at any time. Advances in technology have made lab-grown diamonds easier, causing the price of lab-grown diamonds to drop over time.