Why are lab-grown diamonds cheaper than mined diamonds?

As lab-grown diamonds are typically made in larger quantities, using a faster process, they touch fewer hands during production than natural diamonds do. Lab-grown diamonds also don’t need to be transported overseas, which cuts down on shipping costs, and they can be created locally, meaning you’ll also be supporting your communities. Plus, as there is no limit on the supply of lab-grown diamonds, they aren’t as rare. All of this results in a more cost-effective gem. Generally, lab-grown diamonds are between 30-50% cheaper.