'It is extremely difficult for gemologists to distinguish between natural and lab-grown diamonds.'

There are no noticeable differences in quality, appearance or physical properties between lab-grown and natural diamonds as they are fundamentally the same thing. The only thing that differentiates the two is that lab diamonds are made in a lab and natural diamonds are mined. They are made up of all of the same materials and undergo the same formation processes.

It is extremely difficult for gemologists to distinguish between natural and lab-grown diamonds. A highly-trained gemologist may be able to tell the difference through the use of advanced and specialised testing. Consumers, on the other hand, need to rely on the honesty of the company that is selling the diamonds as they look and feel the same.

The one major determining factor on the price difference between lab-grown diamonds and natural diamonds is simply the supply and demand. Natural diamonds have a high scarcity compared to lab-grown diamonds as the latter can be produced on mass whereas the supply of natural diamonds depends on the amount that can be mined. Wastage is another factor as when the diamonds are being cut and polished for setting, there is always a small element of wastage as well as a small allowance for mistakes during this process. Mistakes with lab-grown diamonds are easier to rectify as they can be manufactured for less on demand. In contrast, natural diamonds either have to be made into something smaller or discarded entirely.

From a manufacturing perspective, the prices of lab-grown diamonds have been decreasing as the laboratories are getting more efficient in their manufacturing processes meaning they can make a higher volume in a smaller time frame. However, the demand for lab-grown diamonds has increased from the consumer end as people are becoming increasingly more eco-conscious with their jewellery purchases which have pushed prices up at an e-commerce level.