How Much Does It Cost to Make a 2-Carat Lab-Grown Diamond in 2024?

At Future Jewelry, we believe in transparency especially when it comes to understanding what makes a diamond truly valuable. With lab-grown diamonds rising in popularity, many people wonder how much it actually costs to make a 2-carat diamond compared to what it sells for.

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1. The Real Cost to Produce a 2-Carat Lab-Grown Diamond

In 2024, the technology behind lab-grown diamonds has advanced so much that production costs have fallen to a fraction of what they were just five years ago.

A 2-carat G color, VS1 clarity diamond that’s IGI or GIA certified typically costs around $100–200 per carat to produce in a professional lab. That means the total manufacturing cost is roughly $200–400.

• The rough diamond growth (via CVD or HPHT method)

• Cutting and polishing

• Certification (like IGI or GIA)

Among the two growth processes, HPHT tends to be slightly cheaper for smaller to medium sizes, while CVD offers better precision and purity control.

💡 Fun fact: A few years ago, growing a single 1-carat diamond could cost $300–500. Today, efficiency has brought that number down dramatically and it continues to drop as technology improves.

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While production might cost just a few hundred dollars, retail prices depend on cut quality, certification, and brand reputation.

In 2024, most 2-carat G/VS1 lab-grown diamonds retail between $1,000 and $2,400 USD, depending on the shape and grading.

• A Very Good Cut IGI-certified 2.00ct G/VS1: around $1,050

• An Ideal Cut GCAL-certified 2.00ct G/VS1: around $2,394

That means consumers can own a stunning, ethically made real diamond for less than one-tenth the cost of a mined diamond of the same quality which would typically retail above $20,000 USD.

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Wholesale lab-grown diamond prices fell by about 30–40% year-over-year in 2024, as more producers enter the market and technology improves. Analysts report that large retailers now pay as little as $225 per carat for 2-carat stones.

This trend is great news for buyers: high-quality, certified diamonds are becoming more affordable, sustainable, and accessible than ever.

At Future Jewelry, our goal is to keep that advantage in your hands, offering only certified, brilliant-cut, lab-grown diamonds that shine with integrity and value.

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4. The Future of Diamond Value

The lab-grown diamond revolution is here to stay. As production costs continue to fall, it’s not just about affordability,  it’s about changing what luxury means.

True luxury is no longer defined by rarity or mining. It’s defined by craftsmanship, ethics, and sustainability.

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1. Jogia Diamonds – Diamond Cost Breakdown:

https://www.jogiadiamonds.com.au/education/how-much-does-a-diamond-cost-to-make

2. DiamondBuzz – Lab-Grown Diamond Production Methods:

https://www.diamondbuzz.blog/how-are-lab-grown-diamonds-made/

3. Whiteflash – HPHT vs CVD Explained:

https://www.whiteflash.com/about-diamonds/education/lab-grown-diamonds/hpht-vs-cvd-lab-grown-diamonds/

4. Edahn Golan Diamond Research – Lab-Grown Price Trends 2024:

https://www.edahngolan.com/lab-grown-diamond-prices/

5. RareCarat – 2.00ct G VS1 IGI Certified Example:

https://www.rarecarat.com/lab-grown-diamonds

6. Adiamor – 2.00ct G VS1 GCAL Certified Example:

https://www.adiamor.com/lab-grown-diamonds