How Much is a 2 Carat Lab Grown Diamond?

Looking to begin your lab grown diamond custom design journey? Are you curious about where to start and the costs involved? You're in the right place! Join us as we take a best selling 2ct round in a F color and VS1 clarity alongside an “on trend” 2 ct oval in an E color and  VVS2 clarity as examples so that we can share the factors that are considered in the price of a 2 carat lab-grown diamond.

The ever-changing diamond market has seen a big shift recently, with lab-grown options becoming more and more popular. Why? They're seen as a smart, eco-friendly choice. 

According to analyst Paul Ziminsky,  research shows a huge jump in clients choosing lab-grown diamond jewelry. The market shot up to almost $12 billion in 2022 from less than $1 billion back in 2016. 

Furthermore, jewelry industry tracking firm Tenoris reported that the unit share of natural and lab-grown diamonds in the U.S. achieved 50/50 parity in July and continued at a pace, up from about 60%/40% last yearIn this article, we'll guide you through everything you need to know about buying a 2 carat lab-grown diamond. 

We'll look at different color and quality levels, different price points, what affects the retail price, tips for saving a bit of cash, and how much you might spend on a lab-grown diamond engagement ring. Plus, we'll compare the price of a 2 carat lab-grown diamond to a natural one, so you can make the best choice for you.

Let's get started!

Different Price Points for a 2 Carat Lab Grown Diamond

When it comes to picking a 2 carat lab-grown diamond, you'll find that prices aren't one-size-fits-all. Instead, you have a broad range of options, affordability, and value. 

Lab-grown diamonds have revolutionized the way we think about luxury and sustainability, offering a more accessible entry point into fine jewelry, and in particular on engagement ring offerings. Long gone are the days when savings into the high 5-6 figure range was required for someone considering getting married. 

Let's delve into the specifics of these price points and what you can expect when considering a 2-carat lab-grown diamond for your next significant purchase.

Entry-Level Pricing

At the entry level, you might find 2 carat lab-grown diamonds starting from as low as $995. These diamonds offer a gateway to owning a substantial piece without the steep price tag traditionally associated with such a size. They're perfect for buyers prioritizing size and cost-effectiveness over other characteristics.

Mid-Range Offers

Moving up the scale, the mid-range price points hover around $2,000 to $3,000. Diamonds in this bracket often boast better clarity and color grades, appealing to those who seek a balance between quality and affordability. It's a sweet spot for many, offering noticeable upgrades in appearance without veering into premium pricing.

Premium Selections

At the higher end, prices can escalate to $5,000 and beyond for 2 carat lab-grown diamonds. These premium selections are distinguished by their exceptional cuts, colorless grades, and near-perfect clarity. 

For buyers seeking a D or E color diamond in a VVS+ clarity, where only the very best will do, these diamonds represent the pinnacle of lab-grown quality, mirroring the best attributes of natural diamonds. This premium tier of LGD’s is rare and the retail price per carat reflects it.

Navigating Your Options

Understanding the different price points helps in navigating the vast options available. Whether you're drawn to the more accessibly priced  options or the allure of premium quality, there's a 2 carat lab-grown diamond out there that meets your needs and budget. Remember, the right diamond is not just about price but the joy and meaning it brings to your life.

Factors that Affect Your Lab Grown Diamond's Price

As we have mentioned, the price for a 2 carat lab-grown diamond can vary quite a bit. Several key factors play a crucial role in determining its price. From the way it's cut to its color and clarity, let's explore what makes each diamond unique and how these aspects influence the final price tag.

Cut, Color, and Clarity:

Cut: The better the cut, the more sparkle you'll get. A well-cut diamond can make colors appear more vibrant and hide some clarity issues. Whether it's a classic round, elegant oval, or striking radiant cut, the precision in cutting can significantly impact the price. At Lumeniri, we focus on ideal and excellent cut diamonds to ensure our clients get the very best of the best. We are huge fans, personally, of oval and radiant cuts, just in case anyone was curious! 

Color: Lab-grown diamonds come in a range of colors. They are graded on a scale from colorless to light yellow or brown, similar to natural diamonds with D being the colorless starting point. Those that are colorless (rated D-F) are more expensive than those with a very slight yellow tint (rated G-J).

Clarity: Clarity refers to the absence of imperfections or inclusions. Diamonds with fewer imperfections (rated VVS1 or VVS2) are priced higher than those with visible inclusions (rated SI1 or SI2). We focus on a range from VVS1 to VS1 at Lumeniri and ensure that if inclusions do exist, they are furthest from the center of the stone. 

Certification and Branding:

Diamonds certified by reputable organizations such as the Gemological Institute of AmericaGIA (GIA) or by the International Gemological Institute (IGI) are more costly than those that are uncertified.

For diamonds over 1ct, we recommend certification. For each respective organization, one may visit their website to verify and validate any certificate. The certificate number is also engraved on the diamond to ensure full traceability and transparency, thus adding an additional layer of confidence in your purchase.

Technological Advances:

The technology used to create lab-grown diamonds continually improves, leading to better quality diamonds at lower costs. However, the latest technology might also mean a higher price point due to the investment in research and development.

Understanding these factors can help you find a gem that meets your aesthetic and ethical standards and fits your budget.

How to Get the Best Deal on Your Perfect Diamond

Now that we have reviewed the key factors that come into play with regards to diamond pricing, you are ready to move onto the next step.

The fun begins when you (and possibly your partner) begin to view diamonds either in person or by video. Our recommendation is to rank the above factors in terms of priority or alternatively, start with a budget and work backwards to maximize the budget based on size, color, or clarity.

Selecting the perfect   lab-grown diamond is easily attainable. Whether it's a 1 carat, a 2 carat, or 3 carats and beyond, our team of diamond specialists is standing by to guide you thru the entire process.

At Lumeniri, we have seen a surge in the 2ct and up range of engagement rings as the price point is quite accessible.  We have listed our top strategies below to help you maximize value without compromising on the sparkle.

• Consider the Specs: At Lumeniri, we believe in value. We always point out the dimensions of each diamond we work with so that our clients not only review the total carat weight but also the length x width of the diamonds they are considering. It is possible that a 2.10 ct diamond may have a longer length when compared to a diamond at 2.25cts depending on the shape and depth. The overall look from the top down is key. 

• Consider the Shape: The shape  of the diamond is very personal and oftentimes the point that may have the least amount of flexibility. However, if there is room to play here, it's important to note that “taller” diamonds carry weight in depth leaving less for the length x width.The visible surface area of an oval vs. a round vs. an asscher for example varies somewhat and impacts price. Ovals are known have excellent face up surface area, thus resulting in a great value. 

• Buy Near 2-Carat Weights: Diamonds just under 2 carats, like 1.9 or 1.95, can offer a noticeable price difference while still providing a similar visual impact. They are less common in our inventory, but if available, we can surely give it a try. 

• Choose a Simple Setting: Our team is standing by to begin your custom design journey. We typically recommend focussing on the diamond 1st and then once selected, move into the setting. The ring's setting can truly make the ring, however, simple settings are very on trend, which can result in some savings.Opting for a simpler micro-thin band without diamonds will allow you to allocate more of your budget to the diamond itself.

How Much Does a 2 CT Lab Grown Engagement Ring Setting Cost?

As we have just reviewed, a 2 CT lab-grown diamond engagement ring depends heavily on the centerstone factors we just reviewed. The cost of a 2 CT lab grown engagement ring setting varies depending on the design, setting style, and additional diamond detail on the band or under the basket.

Let's dive into the  Lumeniri Bridal Collection, known for its  premium handcrafted and custom made assortment of lab-grown diamond engagement ring settings.

At Lumeniri, you can find a range of stunning 2 CT lab-grown diamond engagement rings that cater to various tastes and budgets. 

The Kiran Hidden Halo Solitaire and Soleil Hidden Halo French Pave Solitaire, each priced at $2,190.00, offer elegance and sophistication with a touch of modern design. If you're leaning towards a ring with a bit more complexity in its design, Kyrah Three Stone is an excellent choice at $1,990.00, showcasing timeless beauty and craftsmanship.

For those seeking the ultimate in luxury and statement, The Lumenira Luxe stands out at $4,990.00. This ring represents the pinnacle of luxury within Lumeniri's collection, offering a 2 CT lab-grown diamond in an exquisite setting that's sure to turn heads. Another exquisite option is Ciel, priced at $2,890.00, which combines classic elegance with contemporary flair.

These examples from Lumeniri's collection highlight the affordability and diversity of lab-grown diamond engagement ring settings. With a focus on ethical sourcing and craftsmanship, each ring tells a story of love that's as unique as the diamond at its center.

Price Comparison: 2 CT Lab Grown Diamond vs 2 CT Natural Diamond

Comparing a lab grown diamond and a natural diamond, both offer the same chemical make-up, visual beauty, and durability, but their journey from creation to the jewelry store is quite distinct. This journey impacts their environmental footprint and significantly affects their price.

Price-wise, the gap between lab-grown and natural diamonds is notable. If you take a high-quality, round-cut, natural 2-carat diamond, it typically lands in the price range of $13,000 to $14,000. On the other side, a lab-grown diamond of similar quality and size can be found for around $1,000. This stark difference in pricing illustrates that lab-grown diamonds can be up to 80-95% less expensive than their mined diamond.

This substantial price difference is influenced by several factors. Demand for natural diamonds continues to outstrip that for lab-grown alternatives, partly due to traditional perceptions and the allure of natural stones. 

Additionally, the supply of mined diamonds is carefully controlled to maintain market stability and value, which keeps prices high. But, the production of lab-grown diamonds, while technologically advanced, does not face the same supply constraints.

Choosing between a lab-grown and a natural diamond often depends on personal values, preferences, and budget. While both options offer the timeless beauty and durability associated with diamonds, lab-grown diamonds present a more affordable and environmentally friendly choice without compromising on quality or appearance.

Conclusion

In the quest for the perfect 2 carat lab-grown diamond, understanding the nuances of pricing, quality, and ethical considerations is very important. This article has everything for potential buyers to make a perfect choice, from exploring various price points to navigating factors that influence cost, such as cut, color, and clarity. 

Tips for saving on these precious stones further empower consumers to find value without sacrificing quality. Comparing lab-grown and natural diamonds highlights the significant savings and environmental benefits of choosing lab-created gems. 

Ultimately, whether it's for an engagement ring or a personal investment, a 2 carat lab-grown diamond offers a blend of beauty, affordability, and sustainability, making it an attractive choice for modern consumers.

Reach out anytime with questions or if you are ready to begin your custom design journey, our team is ready and standing by. 

Cheers, 

Team Lumeniri