Lab-Grown vs Mined Diamonds: An Honest Cost Comparison

The price difference between lab-grown and mined diamonds is real, significant, and worth understanding before you decide. Here's what the numbers actually look like, and what drives them.

The price gap in practice

For a comparable diamond — same carat weight, same cut grade, same colour and clarity — lab-grown stones typically cost 40–60% less than mined equivalents at retail. That gap has widened in recent years as lab-grown production has scaled.

What this means in practice: a 1ct oval-cut lab-grown diamond of excellent quality might retail for around $1,800–$2,500 AUD as a loose stone. A comparable mined diamond would likely be $5,000–$9,000 AUD or more, depending on source and retailer margin.

Why lab-grown diamonds cost less

The lower price reflects the supply chain, not the quality. Mined diamonds require significant capital investment to extract, process and transport. They pass through multiple intermediaries — mining company, rough diamond trader, polisher, wholesaler, retailer — each adding margin. The entire chain is also subject to geopolitical and logistical complexity.

Lab-grown diamonds have a shorter, more direct supply chain. Production costs have fallen steadily as technology has improved. That reduction in cost flows through to the buyer.

What the savings actually buys you

Most buyers use the savings in one of three ways:

• Larger stone — the same budget gets you a noticeably bigger diamond. A buyer who might afford a 0.8ct mined stone can often afford a 1.5ct lab-grown equivalent.
• Better quality — step up to a higher colour or clarity grade for the same spend.
• Better setting — invest in platinum instead of 18K gold, or choose a more intricate setting style.

What about long-term value?

Lab-grown diamond resale values have declined as production has increased and supply has risen. This is worth knowing. However, mined diamond resale values have also softened considerably from their peak — the perception that mined diamonds hold value reliably is largely a marketing narrative rather than a market reality for most buyers.

An engagement ring is not typically a financial asset. It's a piece of jewellery you wear every day. The relevant question is what you get for your money, not what you'll recover if you sell it.

The Una Diamond approach

Every Una Diamond ring starts from $6,100 AUD for a 1ct stone in 18K gold. Each ring is handcrafted to order with an IGI certified lab-grown diamond. Browse our rings to see pricing across the range, or learn about the design process if you'd like something custom.

See the Value at Una Diamond

Lab-grown diamonds deliver more carat for the same budget. Every Una Diamond ring is set with an IGI-certified lab-grown stone:

• The Georgina — oval-cut solitaire
• Solitaire rings
• Oval cut rings
• Marquise rings
• Browse all ready-to-ship rings →