Why Lab-Grown Diamonds So Expensive?

Why Lab-Grown Diamonds So Expensive?

Posted by Koorosh Daneshgar on Jan 19th 2023

Why Lab-Grown Diamonds So Expensive?

Summary 

The market for lab-grown diamonds continues to grow in Chicago because customers seek custom jewelers and engagement rings and jewelry stores in their area. Many people remain puzzled about the high cost of lab-grown diamonds. Lab-created diamonds need advanced technology and precise methods and expert craftsmanship to remain less expensive than natural diamonds. The production of these authentic diamonds occurs in limited quantities through expensive laboratory equipment. Local Chicago jewelry designers who specialize in custom engagement rings use premium metals such as 18K gold or platinum to create handcrafted settings for lab-grown diamonds. The Oak Street Wedding Bands & Co. provides Chicago couples with the opportunity to design custom wedding rings and engagement rings that use lab-grown or natural diamonds to create meaningful pieces which express their individual tastes and relationship narratives. When you select lab diamonds from local sources you support local artisans while obtaining premium brilliance at prices lower than mined diamond costs.

Here’s what we’ll cover in this article:

Why Are Lab-Grown Diamonds Still Expensive?


If you're shopping for a custom engagement ring in Chicago, you’ve probably heard of lab-grown diamonds. They’re dazzling, environmentally conscious, and often more affordable than their mined counterparts. But one of the most common questions people have is:
“If they’re made in a lab, why are lab-grown diamonds still so expensive?”
It’s a fair question—and the answer lies in understanding both the diamond itself and the entire process behind creating and customizing a ring. In this article, we’ll break down the key reasons why lab-grown diamonds carry a premium price tag, and how Chicago’s jewelry scene adds value to your purchase.

First: What Are Lab-Grown Diamonds?


Let’s clear up a common misconception: lab-grown diamonds are real diamonds.
Unlike diamond simulants such as cubic zirconia or moissanite, lab-grown diamonds are chemically, physically, and optically identical to natural diamonds. The only true difference is their origin.
While natural diamonds are formed deep within the earth and mined, lab-grown diamonds are created in controlled lab environments using one of two main techniques:

  • HPHT (High Pressure, High Temperature)
  • CVD (Chemical Vapor Deposition)

These methods replicate the intense heat and pressure that forms diamonds underground—just in a lab, and usually with less environmental disruption.

The Center Stone: The Star (and the Cost Driver)


Whether a diamond is lab-grown or mined, the center stone is typically the most expensive element of an engagement ring. Its size, brilliance, and quality determine the overall visual impact—and price.
So even if your diamond was grown in a lab, the larger and cleaner it is, the more it will cost.

Why Lab-Grown Diamonds Can Still Be Pricey


1. The Technology Behind Them Isn’t Cheap
Growing diamonds in a lab sounds simple, but it requires multi-million-dollar equipment, precise scientific conditions, and highly trained engineers. These facilities need to be meticulously maintained to ensure quality and consistency.
That infrastructure—and the skilled labor involved—adds cost to each diamond that’s grown.
2. Supply is Still Catching Up
While lab-grown diamonds are more accessible than ever, they’re not produced at unlimited volume. In fact, many suppliers still grow diamonds in small batches to maintain quality control.
Here in Chicago, most reputable jewelers partner with trusted lab-diamond providers who are carefully vetted, and this exclusivity can drive prices up.
3. Graded Just Like Natural Diamonds
Lab-grown diamonds go through the same rigorous grading system as mined diamonds, assessed by the 4Cs:

  • Cut
  • Color
  • Clarity
  • Carat weight

So, a 1.5ct D color, VS1 clarity lab diamond with an Excellent Cut will still be considered a premium stone—and priced accordingly. Just because it’s lab-grown doesn’t mean it’s cheap if it’s top-tier quality.
4. Flawless Stones Are Still Rare
Even in labs, it’s tough to grow perfect diamonds. Most stones have some degree of inclusions or color tint, so when a high-clarity, colorless stone does emerge, it’s valuable—regardless of its origin.

The Setting: Why Local Chicago Craftsmanship Matters


The diamond is only part of the picture. A huge factor in the final price of your ring is the custom setting—especially when crafted right here in Chicago.
At Wedding Bands Company, and other jewelers in the city’s historic Oak Street district, rings are often handmade by local artisans using high-quality materials like:

  • 18K gold or platinum
  • Pavé diamonds, hidden halos, or vintage-inspired detailing
  • Hand engraving and intricate under-gallery designs

When you choose custom, you’re not only paying for materials—you’re investing in craftsmanship, expertise, and a one-of-a-kind piece made just for you.

So Why Buy Lab-Grown Diamonds in Chicago?


Shopping locally offers big advantages:

  • You can see diamonds in person and compare lab vs. natural stones.
  • Local workshops mean shorter lead times on custom designs.
  • Appointments are personalized— and many are free, educational, and no-pressure.

Whether you book a virtual consult or stop by our Oak Street showroom, you're getting expert support from jewelers who live and work in the community.

The Role of Branding and Marketing


Let’s not ignore the impact of marketing. Lab-grown diamonds are often positioned as:

  • “A modern, ethical choice”
  • “Luxury without compromise”
  • “Grown for you—not mined”

From celebrity endorsements to sleek packaging, lab diamonds are marketed as premium, purposeful pieces. That luxury image boosts their perceived value—and their price.

Will Prices Go Down in the Future?


Yes, but not overnight. As lab technology advances and more suppliers enter the space, prices for smaller diamonds may drop. But premium lab diamonds—especially 1.5ct+ with excellent clarity and color—will still command higher prices due to limited supply and demand.

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Final Thoughts: Are Lab-Grown Diamonds Worth It?


Absolutely—once you understand the full picture.

  • You're paying for technology, rarity, grading, and design—not just the “lab-grown” label.
  • You can get an ethically sourced, stunning ring at a more accessible price point.
  • You’re supporting local talent when you shop custom in Chicago.

Ready to Create Your Dream Ring?


At Wedding Bands Company, we specialize in custom engagement rings with both lab-grown and natural diamonds.
Come visit our Oak Street showroom to experience:
✅ Free design consultations
✅ Diamond education (no pressure!)
✅ Side-by-side lab and natural comparisons
✅ Locally made, heirloom-quality rings
Book your appointment online today and take the first step toward your forever ring.
Wedding Bands Company
43 E Oak St., FL 2, Chicago, IL 60611
+13129200726
info@weddingbandscompany.com
Store Hours
Mon–Fri: 10 AM – 6 PM
Sat: 10 AM – 5 PM
Sun: Closed

By: Koorosh Daneshgar CEO/Design Chief

We'll help you to design your dream engagement ring without stress and spending countless hours searching for your perfect ring. All you need to do is click on "Free Consultation" to get started.

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