While many understand that lab-grown diamonds are chemically and physically identical to natural ones, you may still be unaware of how UNLIKE they are, when it comes to price and value for your money.
DID YOU KNOW? Lab-grown diamonds can be 80-90% less expensive than natural diamonds of comparable size and quality! The difference isn't due to quality (lab-grown diamonds are chemically and physically identical to natural ones), but due to the way they’re made. While natural diamonds involve costly mining and are formed under pressure over billions of years, lab-grown diamonds replicate those conditions in a controlled environment that allows for more efficient production.
This allows you to get a larger or higher-quality diamond for your budget. In fact, the average center-stone weight for lab-grown diamond rings in 2024 was 2.0 carats, compared to 1.6 carats for natural diamonds.
PAST GENERATIONS SPENT MORE. Expensive rings were even viewed as a “safety net”: something a woman could sell should she find herself suddenly widowed. When you combine that with a lasting expectation popularized by a 1930’s campaign that touted a "three months' salary" guideline and the conspicuous consumption that came with post-war prosperity, it’s no surprise that the size of engagement rings grew at a greater rate than the salaries to pay for them.
GOODBYE, “3-MONTH RULE.” While Travis Kelce is reported to have spent an estimated $550,000 on Taylor Swift’s 8-carat engagement ring, today’s average groom-to-be is reigning in the spending and ignoring that long-accepted "three months' salary" rule.
Millennials and Gen Z are more price-conscious, with housing, student loans and healthcare consuming a larger part of their income than their parents’; with decisions based on their financial situations and personal values rather than arbitrary spending guidelines.
Said one REDDIT member, “The thing is, if I got the ring I wanted to get her and it was a natural diamond, it probably WOULD be 3 month’s salary. But with how cheap lab diamonds are these days, it’ll be 1/6 the cost or less."
Good to hear. And proof that the rise of social media and the constant exposure to elaborate proposals and stunning rings hasn’t necessarily created pressure to spend more, but rather democratized information about ring shopping AND helped people make more thoughtful purchases.
Left to Right: Round Brilliant Cut Halo Ring in Platinum; Marquise Cut Accented Ring in 14K Rose Gold; Emerald Cut Three-stone Ring in 14K Yellow Gold.
SET A REALISTIC BUDGET & MAXIMIZE VALUE. Today’s smart couples discuss financial boundaries openly and consider the ring within the context of other major expenses like weddings, honeymoons--AND their debt levels and savings goals-- before determining an appropriate budget.
That done, it’s important to understand the factors that most significantly impact price and appearance. For diamonds, prioritizing cut quality over size often provides better visual impact for the budget. Similarly, choosing slightly lower clarity or color grades that aren't visible to the naked eye can result in substantial savings.
At the end of the day, “When you can spend less on something that looks the exact same as its more expensive counterpart, why would you go the other route?” argues BiancaRomaDL on REDDIT. And that’s the thinking behind DREAMLAB--created for couples who don’t follow the "three months’" rule but make their own rules. And for anyone who wants to enjoy the savings that come with lab-grown diamonds without compromising luxury.
To find your dream ring, visit DreamLabDiamond.com