In 2025, lab-grown diamond wholesale prices declined by 26% year on year, according to Edahn Golan’s Lab Diamond Wholesale Price List. While annual declines remained steep, quarterly price drops slowed to just 4.7%, the smallest decline since lab-grown diamonds entered the market.
Lab-grown diamond wholesale prices began to shift in 2025, in what may end up being a turning point for the category. On a year-on-year basis, prices were still sharply lower, down an average of 26%, but the direction of travel started to change.
The longer-term downward trend didn’t disappear, but it clearly slowed. Quarter on quarter, lab-grown diamond wholesale prices fell just 4.7%, the smallest decline since lab-grown diamonds first entered the market.
What stood out most was how uneven the price movement was across sizes. Three-carat round stones saw the heaviest pressure, with prices down 32% year on year. At the other end of the spectrum, 1.50-carat goods were far more resilient, slipping only 8% year on year and actually rising 11% from the third quarter.
Rising costs for HPHT lab-grown rough also began to change the picture for smaller stones. Wholesale prices for these goods moved up 10–20% as Chinese HPHT factories collectively stopped cutting prices once rough costs reached around $10 per carat.
That decision first brought smaller lab-grown diamond wholesale price declines in polished LGD to a halt and was later followed by outright price increases.
Today, HPHT production dominates polished lab-grown diamonds of one carat and below, and it is becoming increasingly common in the 1.50-carat range as well. As HPHT rough continues to grow in size, it is likely to start influencing prices for larger polished stones too. That shift, however, is gradual. HPHT first took hold in the smallest sizes and only became a meaningful source for one-carat polished goods about a year ago.
Outlook
After nearly ten years of sharp and often relentless price declines, the lab-grown diamond market appears to be catching its breath. The shift isn’t just showing up in prices but also in demand, which is growing more slowly as the category moves out of its early, volatile phase.
For smaller stones, prices are likely to keep edging higher. Rising HPHT production costs and firmer pricing discipline among producers are starting to show through, even if gains remain modest. That alone marks a change from the steady downward pressure the market has grown used to.
Larger stones tell a different story. Prices there are expected to level off rather than rebound as manufacturers continue to push supply in the two- to three-carat range and growers focus on improving color and clarity. Competition in larger sizes isn’t going away, but the pace of change does appear to be easing as the market settles into something more stable.
About the Lab-Grown Diamond Wholesale Price List
Launched in October 2018, the LGD Wholesale Price List was created in response to industry demand for a reliable way to track lab-grown diamond wholesale pricing. It initially focused on transaction prices for low-priced, uncertified loose LGD sold by polishers.
As the market matured, the list evolved to reflect transaction prices for larger, certified lab-grown diamonds in better makes, based on small-volume purchases. Today, most lab-grown diamonds weighing two carats and above are CVD-grown, while smaller goods include both CVD and HPHT, with HPHT-made diamonds typically trading at a discount.
Subscribe to the Lab-Grown Diamond Wholesale Price List here.
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