Why MDT DESIGN Has Chosen to Work with Lab Grown Diamonds
At MDT DESIGN, we make every decision based on the long-term value and benefits for our clients. Since our inception in 1981, our transparency has led to us being trusted for our expertise in not just in the quality handmade jewellery pieces, but gemstone and diamond quality.
As qualified jewellers and diamond graders, we take a measured approach to new materials and trends, especially when they can directly impact our client’s investment in the piece and what their expectations are when coming to a high-end professional jeweller.
Recently we have made the decision to begin working with lab grown diamonds. This has not been a quick shift or trend-driven move, but a calculated move. It is the result of our years of jewellery knowledge, analysis, and our understanding of how similar products have behaved through time.
Here we explain why we are now confident in offering lab grown diamond rings, in particular for those searching for local lab grown diamonds in Melbourne.
Understanding Lab Grown Diamonds in the Early Days
When lab grown diamonds were first entered the market, they were priced surprisingly high for something that is created by human in a factory. Often pricing was only slightly below natural diamonds. This sparked questions and concerns for something that could be easily recreated.
Unlike earth mined natural diamonds which are formed over billions of years, lab grown diamonds are manufactured. As production technology improves and scales up, the supply has increases significantly. Generally, this leads to price drops over time.
This is nothing new to jewellers and we have seen this pattern several times before.
Historical Proof: What Other Synthetic Gemstones Have Taught Us
The jewellery industry has experienced similar situations in the past with other man-made gemstones. We use these examples to make clear and informed decisions:
Cubic Zirconia (CZ)
- First on the market in the 1970’s: Pricing was high due to popularity and limitations in production
- Within 5–10 years: Huge price decline
- Today: Very low-cost diamond simulant
Synthetic Ruby
- Early production: Initially very expensive gemstone
- Mid-20th century: Prices dropped with these stones being mass produced
- Today: Widely available at very low cost
Synthetic Emerald
- Initial release: Premium costing due to novelty and cleanness of the stone which is not very often seen in natural emeralds.
- Following decades: Decline with higher production
- Today: Easily accessible and at low costs
Price Trend Comparison
| Material | Initial Market Phase | Time to Major Price Drop | Current Market Position |
|---|---|---|---|
| Cubic Zirconia | High | ~5–10 years | Very low cost |
| Synthetic Ruby | Moderate–High | ~10–20 years | Low cost |
| Synthetic Emerald | Moderate–High | ~10–20 years | Low cost |
The pattern displayed is very clear: when a diamond or gemstone can be made by man and manufactured at scale, prices will fall significantly when production increases.
Why We Initially Chose Not to Sell Lab Grown Diamonds
Based on these types of historical trends, MDT DESIGN had made a deliberate decision not to offer lab grown diamonds when they first became available knowing that these stones would dramatically drop in price in only a short time.
Our Concerns at the Time
- Prices were very high relative how they are produced
- We knew supply would increase quickly
- Long-term value of the diamonds was uncertain
Being that we focus on handmade quality heirloom pieces, we did not feel it was right to sell a product to our valued clients that we knew would experience huge price depreciation in only a short period of time.
Our priority has always been to protect our clients from short-term jewellery trends that may lead to long-term disappointment.
What Made Us Reconsider: Price Maturity in Lab Grown Diamonds
Over the past several years, lab grown diamonds have undergone exactly the kind of price correction we were anticipating with quick declines early.
Approximate Price Trend on a 2 Carat Lab Grown Diamond
| Year | Approximate Price (AUD) |
|---|---|
| 2016–2017 | $18,000 – $25,000 |
| 2018–2019 | $12,000 – $18,000 |
| 2020–2021 | $7,000 – $12,000 |
| 2022–2023 | $4,000 – $7,000 |
| 2024–2025 | $2,500 – $5,000 |
Key Observations to Note
- Significant price decline of around 80% in only 7 to 8 years
- Rapid supply increases due to both improved and cheaper technology
- Increasing acceptance by the jewellery industry and consumers
More importantly, the rate of decline has begun to plateau. This suggests the market is approaching a more stable pricing structure and we do not foresee any huge price depreciations like we have thus far.
Why MDT DESIGN Now Offers Lab Grown Diamond Rings
We believe lab grown diamond ranging from 1 carat to 4 carats have now reached a point of relative price stability and do not see them dropping much more in pricing.
This changes the equation entirely.
What This Means for Our Clients
Greater Accessibility
Clients can achieve a larger carat weight of diamond with higher specifications within a given budget.
Transparency in Value
We feel pricing now reflects what we feel is the true value of this man-made product.
Expanded Range of Choices
Clients in Melbourne can now choose between both natural and lab grown diamonds based on their priorities. All still being 100% handmade the traditional way in our workshop.
Lab Grown Diamonds in Melbourne: A Practical Option
For clients specifically now searching for lab grown diamonds in Melbourne, this shift means:
- Competitive and more realistic pricing that is not likely to drop significantly
- Consistent quality and grading standards
- Availability across a wide range of sizes and shapes
View Loose Lab Grown Diamonds in Our Collins Street Melbourne Boutique
At our Collins Street Melbourne boutique, MDT DESIGN offers a curated selection of loose lab grown diamonds chosen for their lustre, colour and clarity. These diamonds are available to view and compare in person. This allows clients to be educated to then be able to make a well-informed decision on what suits them best.
What We Offer
- A great range of shapes and sizes generally ranging from 1 carat and above
- High quality grades of D colour with VVS2 clarity
- All IGI certified lab grown diamonds
- Side-by-side comparison of multiple diamonds
This hands-on approach allows clients to fully understand what they are choosing, ensuring confidence in both the diamond quality and the final piece they wish to create.
At MDT DESIGN it does not matter if the diamond in lab grown or natural, we apply the same high standards in handmaking to ensure an heirloom piece that will stand the test of time in making your beautiful occasion. Strick diamond grading, transparency by education, and customised designs are the MDT DESIGN standard.
Final Thoughts
Lab grown diamonds are not new on the market, but their pricing has finally dropped to a point that aligns with their true value.
Our decision to start working with these stones is not about following a trend. It is about recognising when a product has matured to the point where it offers genuine value to our clients and is not likely to cause disappointment in the future when revaluing.
For those considering a lab grown diamond ring in Melbourne, we are now confident that this option can be presented responsibly with confidence in the product.
If you would like to explore our range of lab grown diamonds or compare them with natural diamonds, contact our MDT DESIGN experts for guidance with expertise.
Frequently Asked Questions About Lab Grown Diamonds
What are lab grown diamonds?
Lab grown diamonds are real diamonds that are created in a controlled factory environment rather than being formed naturally in the earth over millions of years. They have the exact same chemical composition, crystal structure, and physical properties as natural diamonds.
Are lab grown diamonds real diamonds?
Yes. Lab grown diamonds are 100% real diamonds. They are not simulants like cubic zirconia or moissanite. The only difference is their origin with them being created by man in a laboratory or factory rather than naturally formed in the ground.
Why are lab grown diamond rings more affordable?
Lab grown diamonds are more affordable as they can be produced at a mass scale. As the technology has improved, the supply has increased significantly over powering the demand leading to lower prices compared to natural diamonds.
Will lab grown diamonds continue to drop in price?
Lab grown diamonds have already experienced a significant price correction over the past decade. While minor fluctuations may still occur, we believe the market has reached a point of relative stability compared to the sharp declines seen in earlier years.
Can I view lab grown diamonds in person in Melbourne?
Yes. At MDT DESIGN, we offer a range of loose lab grown diamonds in our Collins Street Melbourne boutique in the heart of the CBD. Clients can view and compare different shapes and sizes in person to be able to make a well-informed decision.
What quality lab grown diamonds do you offer?
We specialise in high-quality lab grown diamonds, typically offering stones in:
- D colour
- VVS2 clarity
- Sizes from 1ct and above
- IGI certification
This ensures exceptional brilliance and consistency across our range.
Are lab grown diamonds a good option for engagement rings?
Lab grown diamond rings are an excellent option for clients who want a larger or higher-specification diamond within a given budget. They allow for greater flexibility in design while maintaining the look and performance of a natural diamond.
What is the difference between lab grown and natural diamonds?
The key difference is origin:
Natural diamonds are formed over billions of years beneath the earth which have proven over the years to hold or increase in value
Lab grown diamonds are created in a controlled environment and will most probably decline in price as time goes on.
Visually and structurally both these diamonds are the same.
Can I customise a lab grown diamond ring at MDT DESIGN?
Yes. MDT DESIGN specialises in custom-made jewellery. Clients can select their preferred lab grown diamond and work with us to design a bespoke piece tailored to their style whilst all being handmade on-site the traditional way without the use of mass production, CAD/Cast techniques.
Where can I buy lab grown diamonds in Melbourne?
MDT DESIGN offers a stunning handpicked selection of lab grown diamonds in Melbourne, available to view now in our Collins Street boutique. We guide clients through the selection process to ensure they choose the right diamond for their needs.
