|Touted as an eco-friendly alternative to natural diamonds, lab-grown diamonds or synthetic diamonds are gaining in popularity. They look identical to natural diamonds, and, according to manufacturers, are up to 30-40% cheaper than their naturally mined counterparts. According to independent research there's a catch: They're not cheaper at all. On average, synthetic diamonds are actually about 20% more expensive than comparable natural diamonds.|
Companies selling lab-created diamonds are using looser grading-the International Gemological Institute-that gives higher grades than the Gemological Institute of America (GIA). When you compare apples to apples, they're actually more expensive.
|Synthetic diamonds have little to no resale value. No jeweler will buy them back. From a value perspective alone, you would need to buy the lab-created diamond at a large discount to justify giving up the value retention of natural diamonds. |