Record-Breaking 50.25 Carat Lab-Grown Diamond Certified by IGI Amid Rising Popularity

According to a recent online survey conducted by The Knot, a wedding planning website, it was found that over one-third of all engagement rings purchased last year had lab-created center diamonds, as reported by nearly 12,000 couples in the United States. This figure has doubled as compared to the number from 2020. In part, this is due to increased awareness that lab-grown diamonds are identical to their earth-grown counterparts, origin aside, while being more affordable, making pricing a significant factor. Depending on their size, lab diamonds are approximately one-quarter the price of natural diamonds. Another reason for increased consumer interest in lab diamonds is their social and environmental sustainability. In recent years, there has been growing concern over avoiding conflict diamonds and an increase in eco-conscious consumers looking to reduce their carbon footprint. And the emerging popularity of lab-grown diamonds is not limited to engagement rings alone. In 2022, diamonds cultivated in a laboratory contributed 13.6% of the total global sales of diamond jewelry, which amounted to $88.6 billion. According to a diamond industry analyst, Paul Zimnisky, this significant increase is noteworthy, considering that lab-grown diamonds accounted for less than 1% of global diamond jewelry sales in 2015. Since 2015, the retail price of a one-carat lab-grown diamond has dropped approximately 74%. Previously, lab-grown diamonds and naturally mined diamonds retailed for similar prices. However, as of early 2023, the retail price of a one-carat lab-grown diamond stood at around $1,430, which is considerably lower compared to the cost of a mined diamond of a similar size, priced at $5,635.

Introducing the Largest-to-Date Lab-Grown Diamond Named "Shiphra"

With advancements in the technology used for creating lab-grown diamonds, their production has surged, hence the decline in retail prices. And with the drastic upswing in lab-grown diamond sales, it’s no wonder lab-diamond producers are scrambling to create lab diamonds that are bigger than ever before, which brings us to the recent advent of the largest diamond created in a lab, a 50.25-carat diamond named "Shiphra." Shortly after certifying a groundbreaking 35-carat lab-grown diamond, called the "Pride of India," which became the first polished lab-grown diamond to surpass 30 carats, the IGI (International Gemological Institute) has now certified the remarkable 50.25-carat Shiphra diamond, measuring 22.95 x 18.45 x 11.57 millimeters. 

The 50.25-carat lab-grown diamond is a Type IIa emerald-cut diamond and exhibits desirable characteristics such as G color grade, VS2 clarity, and excellent cut, polish, and symmetry. The phenomenal Shiphra diamond flourished through an eight-week growth process using Chemical Vapor Deposition (CVD) technology, marking the first time a lab-grown diamond has exceeded the significant milestone of 50 carats. Submitted to IGI by Ethereal Green Diamond LLP, the diamond symbolizes an incredible breakthrough in the field of lab-grown diamonds. Renowned for their production of large, premium-quality lab-grown diamonds, Ethereal Green Diamond, based in Mumbai, India, has earned a distinguished reputation in the industry. The Managing Director of Ethereal Green Diamond, Hirav Anil Virani, has expressed the company's plan to continue creating and certifying extraordinary record-setting lab diamonds. Furthermore, Virani has announced that the diamond has already been purchased by Shiphra Jewelry, the namesake of the remarkable diamond, which further highlights the increasing desire and demand for lab-grown diamonds in the market. Ethereal Green has emerged as a leading player in the lab-grown diamond industry, showcasing outstanding accomplishments in producing sustainable and ethically sourced diamonds of significant size and exceptional quality through state-of-the-art technology. As a trailblazer in responsible diamond production, the company proudly holds the SCS Global sustainability certification.

As mentioned, lab-grown diamonds are indistinguishable from naturally mined diamonds, possessing the same exquisite qualities as those found within the earth's crust but at a much more affordable price. Not only are they a cost-effective choice, but they are also environmentally sustainable and ethically produced. Given these compelling factors, it's no surprise that their popularity is rapidly soaring. 

​We proudly offer a vast selection of premium, sustainable, ethically produced loose lab-grown diamonds and lab-diamond jewelry. We also specialize in creating customized engagement rings and diamond jewelry. Whether you want to get started on designing a bespoke piece of jewelry or have questions, our diamond concierge team is ready to assist you—contact us today!