Is Molly Mae's Engagement Ring Lab Grown?

Molly Mae's engagement ring has taken the internet by storm, and it's no wonder why. The estimated 5 carat oval diamond has captured the hearts of many for its size, sparkle and modern look. Oval shaped diamonds have been gaining popularity in recent years due to their elongated, increased spread, creating the illusion of a larger stone and a flattering look on the finger. If this diamond is natural, it is estimated to be worth a jaw-dropping £400k, making it an incredibly rare find. However, our experts are wondering if Tommy Fury could have chosen a lab grown diamond engagement ring for Molly Mae – for all the right reasons.

Although Molly Mae and Tommy Fury are yet to post many photos of their engagement ring on Instagram, the video posted following their engagement appears to reveal a platinum diamond-set band, adding further sparkle to the already striking centrepiece.

The allure of a 5 carat diamond is undeniable, but they aren’t exactly easy to come by. Even those deeply involved in the world of diamonds may only come across a handful of truly exceptional 5 carat diamonds every few years. Because of the rarity of natural diamonds over the 5 carat mark, it is highly possible that Molly Mae’s remarkable gem is lab-grown. In the UK, a 5-carat lab grown diamond ring is currently valued at a slightly more accessible price tag of £20-40K. This comes in at a stark contrast to the price tag of up to £1million that some media outlets have reported.

A lab grown diamond, also known as a lab created or synthetic diamond, is a diamond that is produced in a controlled, laboratory environment rather than being mined from the Earth's crust. It possesses the same chemical and physical properties as natural diamonds, as they are both composed of carbon atoms arranged in a crystal lattice structure. Essentially, even a top gemmologists couldn’t tell a lab diamond from a natural diamond – this requires specialist, scientific equipment.

In recent years, lab grown diamonds have been booming in popularity, with more and more consumers choosing them over natural diamonds. In fact, we’re seeing around 81% of Queensmith clients choosing a lab diamond ring in 2023. There are several compelling reasons behind this growing trend. In a recent Lab Grown Diamond Poll conducted by Queensmith, when asked ‘If you were to receive an engagement ring, would you expect your ring to contain a mined diamond, as opposed to a lab grown diamond?’, only 33% said yes.

One of the primary reasons for the surge in demand for lab grown diamonds is their affordability. Natural diamonds are formed over billions of years deep within the Earth's crust and require extensive mining operations to extract them. This intensive process, coupled with their scarcity, significantly contributes to their high price tag. On the other hand, lab grown diamonds are created in controlled environments in just a few weeks, using cutting-edge technology to replicate the natural diamond-growing process. This results in diamonds that are visually identical to natural ones but come at a fraction of the cost, offering excellent value for money to consumers. Because of this, jewellery lovers are able to afford larger carat weights for their budget.

Learn more about lab grown diamond price and value.

Lab grown diamonds also appeal to consumers who prioritise ethical and environmental considerations. The diamond mining industry has faced criticism for its impact on local communities and ecosystems – although the Kimberley Process and responsible mining has curbed this hugely. In contrast, lab grown diamonds have less of an impact on the environment (though they still use quite a bit of energy) and no requirement for mining. This factor resonates with individuals who want to make a positive impact with their purchasing decisions.

Lab grown diamonds are not only more affordable and have less of an impact on the environment, but they also offer greater transparency in terms of their origin and quality. With natural diamonds, it can be challenging to trace their exact source and ensure that they are ethically mined. However, lab grown diamonds are produced under controlled conditions, providing a clear understanding of their origin and ensuring consistent quality standards.