Are lab-grown diamonds worth it?
Quick answer
Yes, if you are buying a ring to wear rather than a stone to sell. A lab-grown diamond is a real diamond with the same hardness and grading as a mined one, and it costs a fraction of the price. In September 2026 a complete 1 carat D colour VS1 lab-grown ring cost $2,368 with us, while a lower-grade mined 1 carat ring cost $9,499 at a major Australian retailer. The trade-off is resale, because a lab-grown diamond sells secondhand for well below what you paid.
Are lab-grown diamonds real diamonds?
Yes. A lab-grown diamond is carbon in the same crystal structure as a mined diamond, so it scores 10 on the Mohs scale, passes a diamond tester and is graded by independent labs such as IGI on the same colour, clarity and cut scales. The only difference is where it formed, and telling the two apart takes laboratory equipment rather than a loupe.
What the price difference gets you
The saving is big enough to change the ring. The Jewellers Association of Australia puts lab-grown diamonds at 30 to 70% cheaper per carat than natural ones, and our own 1 carat comparison came in at just over 70%. At 1 carat, a D colour VS1 lab-grown round was $1,108 loose on our feed, against $3,910 for an H colour VS2 mined round. At 2 carats, a complete lab-grown ring runs about $3,900 to $6,800 in Australia, while a J colour SI2 mined round was $8,201 for the loose stone alone. You can put that difference into a bigger stone, a better cut or the setting you want, or simply spend less.
Prices were checked in July and September 2026 and move with the market.
When a lab-grown diamond is not worth it
If you might sell or trade the ring later, expect to get back very little for the stone. The Jewellers Association of Australia describes the resale value of a lab-grown diamond as negligible, to the point where a resold ring is worth roughly the value of its gold or platinum. New production keeps pushing prices down: Walker & Hall tracked a 2 carat lab diamond at one US retailer falling from $22,000 in 2015 to $2,170 in 2023, and the association expects prices to keep dropping. Mined diamonds rarely recover their retail price either, but they have the more established resale market.
A lab-grown diamond is also the wrong choice if a stone that formed underground over billions of years is part of what the ring means to you. That is a question of meaning rather than price, and only you can answer it.
Next step
Browse lab-grown diamond rings
See current lab-grown diamond engagement rings across shapes, settings and prices, all IGI-certified.
Browse lab-grown diamond ringsFrequently asked questions
- Are lab-grown diamonds a good investment?
- No. Buy one to wear, not to sell. Supply can keep growing, so prices are expected to keep falling, and the Jewellers Association of Australia says lab-grown diamonds should not be treated as investment stones. Natural diamonds are not a reliable investment either, because they rarely resell for their retail price.
- Are all lab-grown diamonds the same quality?
- No. Lab-grown diamonds range from excellent to poor, just like mined ones, so a cheap price can hide a weak cut, a visible tint or inclusions. Check the grading report from IGI or GIA and compare cut, colour and clarity before you compare prices.
- Can you insure a lab-grown diamond ring?
- Yes. Insurers cover lab-grown rings for their replacement value, which is what a comparable new ring would cost at the time of a claim. Keep the invoice and grading report, and update the valuation every few years, because falling prices can lower the replacement figure.
- How many people choose lab-grown diamonds in Australia?
- Most buyers now do. The Global Diamond Trade Organisation estimated in late 2025 that lab-grown diamonds held 50 to 60% of the Australian retail market, and expected that to reach as much as 70% by the end of 2026.
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