Diamond Prices: Why VRAI Created Diamonds Are More Affordable
Kimberly Zerkel | January 4, 2023
Kimberly Zerkel | January 4, 2023
Those who choose engagement rings and fine jewelry featuring VRAI created diamonds love that they are a reflection of their love, choices, and unique style. But there’s one more reason to love diamonds sustainably created in our zero-emission foundry: their affordable price.
It’s not common to celebrate lower prices in the fine jewelry industry — after all, doesn’t a higher price tag often equal higher quality? While that logic might work for most luxury goods, the same cannot be said for diamonds. But why?
Read on to learn why VRAI created diamond pricing is not only a reason to celebrate, but is also a reflection of your values. Or book an appointment with our diamond experts for more in-depth diamond education.
How Is The Price Of A Mined Diamond Determined?
The price of mined diamonds is determined by a handful of people in the mining industry who restrict their supply in order to keep prices high.
Though this small group of mining industry elite would have consumers believe that simple supply and demand is at work when it comes to diamond pricing, there is more at play here. Mined diamonds, once believed to be rare, are actually plentiful. If all mined diamonds were on the market at once, their price would plummet. So a global monopoly has worked tirelessly to control the supply of diamonds in order to maintain higher prices.
While a mined diamond of higher carat weight, as well as high quality of clarity, cut, and color, is rarer and more valuable than inferior diamonds, their actual rarity and market value is not genuine. The price of mined diamonds is merely a reflection of their value as compared to other mined diamonds currently on the market. They are also a reflection of middlemen markups — the price that had to be paid to third parties or cartels who acted as a liaison between mines and diamond jewelers.
Why Are VRAI Created Diamonds Priced Differently?
VRAI grows each and every diamond in our very own zero-emission foundry in America’s Pacific Northwest. We are a vertically integrated company and control our inventory from the moment a VRAI created diamond is formed to the moment it is set in a fine jewelry design and shipped to a customer. A global mining monopoly has absolutely no say when it comes to how many VRAI created diamonds we produce and release into the marketplace, nor how we price them. And because we do not rely on cartels or middlemen, VRAI created diamonds are sold with no additional markups.
Put plainly, when you purchase a VRAI created diamond, your money goes towards fine jewelry created by scientists, designers, and other passionate professionals who are driven by both quality and sustainability. Your money is not going to a global monopoly, cartels, or corrupt governments who use diamonds to fund conflicts.
You’re spending less and you’re spending right!
Benefits Of Buying Larger VRAI Created Diamonds
The benefits of buying larger VRAI created diamonds seems obvious to any diamond lover! But purchasing a diamond of a higher carat weight isn’t just a great way to turn heads and garner attention. VRAI created diamonds are made through converted greenhouse gas. The elements that would otherwise stay trapped in our atmosphere and harm our planet are crystallized into diamonds sustainably created in our zero-emission foundry. So not only are VRAI created diamonds carbon-neutral, but they are actually helping to reduce greenhouse gas emissions.
This paired with the fact that larger VRAI created diamonds are more affordable means that there’s no reason not to indulge! Many VRAI customers are delighted to discover that they can afford a larger diamond ring than they had previously budgeted before that still reflects their love, style, and values.
Lab-Grown Diamond Vs. Mined Diamond Price
Unlike lab-grown diamond prices, mined diamond prices are controlled by a global monopoly and cartels but the price of an individual diamond is always valued based on the 4Cs: carat, cut, clarity, and color. Because lab-grown diamonds are chemically and physically identical to mined diamonds, they are graded by the same criteria.
Understanding how diamond grading affects a diamond’s price is simple: moving up in carat weight or cut, clarity, and color grade means moving up in price. Larger diamonds that are flawless, colorless, and cut to perfection by master craftspeople will always be much more expensive than a smaller diamond with inclusions, yellow coloring, and an average or poor cut.
Most diamonds vary when it comes to the 4Cs, however. A 5ct diamond might be slightly included and only near colorless, for example. It will be more expensive than a 1ct diamond because of its size, but less expensive than a 5ct diamond that is very slightly included and colorless.
When determining which VRAI created diamond is right for you, set your budget first and then select a diamond based on which of the 4Cs are most important to you. Diamond shape will often influence which C you prioritize; for simplified and personalized guidance, book an appointment with our diamond experts.
Moissanite Vs. Mined Diamond Price
Synthetic or simulant diamonds, such as moissanite and cubic zirconia are chemically different from real diamonds, whether they are lab-grown or mined. They can only be graded on carat size and clarity, which is what makes them so much cheaper.
The mining industry would like consumers to believe that because lab-grown diamonds and simulants like moissanite are both made in laboratory settings and are less expensive than mined diamonds, that they are both inferior. But moissanite’s inferior durability, chemical composition, and overall beauty is what makes it cheaper. Lab-grown diamonds are less expensive because their price is not determined by monopolies and cartels.
How Much Does A Diamond Cost?
Though prices vary and can fluctuate over time, lab-grown diamonds can cost anywhere from 50-70% less than mined diamonds. At the time of publication, a 1ct mined diamond is estimated to cost anywhere between $2,500-$18,000. The difference in price is affected by the cut, clarity, and color of the diamond.
The price is also related to middlemen markups and market trends. A mined diamond can change hands up to fifteen times before it reaches a consumer, and the price is marked up each time.
1 Carat Diamond Price
At the time of publication, a 1.01ct Round Brilliant cut VRAI created diamond, H color, VS2 clarity, and excellent cut costs $1,208 USD. Mined diamonds of the same quality from competitor sites range from $5,000-$7,000 USD. The overall price of a 1 carat diamond ring would depend on the additional engagement ring setting.
2 Carat Diamond Price
At the time of publication, a 2ct Round Brilliant cut VRAI created diamond, H color, VS2 clarity, and excellent cut costs $3,367USD. Mined diamonds of the same quality from competitor sites range from $15,000-$20,000 USD. The overall price of a 2 carat diamond ring would depend on the additional engagement ring setting.
3 Carat Diamond Price
At the time of publication, a 3ct Round Brilliant cut VRAI created diamond, H color, VS2 clarity, and excellent cut costs $13,310 USD. Mined diamonds of the same quality from competitor sites range from $44,000-$50,000 USD. The overall price of a 3 carat diamond ring would depend on the additional engagement ring setting.
5 Carat Diamond And Above Price
At the time of publication, a 5ct Oval cut VRAI created diamond, H color, VS2 clarity, and excellent cut costs $6,310 USD. A mined diamond of the same quality from a competitor site starts at $88,000 USD. The overall price of a 5 carat diamond ring would depend on the additional engagement ring setting.