Lab-Grown Diamond Engagement Rings
Written by Chris Ozkoch · Reviewed by Anny's Gemmology Team · Updated 2026-09-28
A lab-grown diamond lets you put a visibly bigger, cleaner stone on the finger for the same budget — typically around 50 to 70 per cent less than a comparable natural. A 1.00ct D-VS1 lab-grown sits near $1,500 where the natural equivalent is closer to $8,000. We design the ring around it and make it by hand at our own Frankston workshop. Browse lab-grown diamonds to see live pricing, or start your ring from a design.
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- Designed, set and finished at our Frankston workshop — only the casting goes to a specialist casting house
- We source both lab-grown and natural diamonds, and compare them without an agenda
- The actual GIA or IGI grading report available for your individual stone, plus our own appraisal certificate
Lab-grown or natural — which is right for you?
We sell both and we will not push you toward one. If what matters most is the stone on the finger — the largest, cleanest, brightest diamond your budget will reach — lab-grown wins clearly, and it is not close. If what matters is owning a stone that formed in the Earth over billions of years, natural wins, and no lab-grown stone can offer that. Both are real diamonds, set by the same hands at our bench. IGI lab-grown reports give individual grades; since 1 October 2025, GIA's eligible colourless-to-near-colourless lab-grown service uses Premium or Standard overall assessments. Older GIA reports can differ, so compare the actual documents and stones. Tell us which of those two things you care about and we will put the shortlist in front of you either way.
Shapes & styles
Start from a shape in our live lab-grown feed, or from a setting style and build around it — every design adapts to your stone, metal and band.
Browse lab-grown diamonds by shape:
Start your ring from a setting style:
The Anny's difference
“Manufacturing jewellers” is in our name for a reason: for 36 years, every ring has been designed face-to-face, then set and finished by hand at our own bench in Frankston, with only the casting sent to a specialist casting house. The jeweller who quotes your ring is the workshop that makes it, so design decisions get made by someone who knows what survives daily wear, and repairs, resizes and upgrades come back to the bench that built it.
- Designed, set and finished in-house — fewer hand-offs, no lost detail
- Lab-grown and natural diamonds, plus coloured gemstones, compared honestly
- The actual GIA or IGI grading report available for the individual diamond, plus our own appraisal for insurance
- Frankston handles all services, including repairs, valuations, engraving, remodelling, engagement rings and wedding rings.
- Email us before visiting Collins Street for engagement-ring and wedding-ring consultations. Please wait for our email confirmation before coming in. Find us at Level 3, 257 Collins Street, Melbourne VIC 3000.
Typical engagement and bridal ring turnaround: 3–4 weeks from CAD sign-off. We also have 2-week and 48-hour options for engagement and bridal rings. Get in touch and we'll help find an option that works for your timeframe.
Common questions
How much do lab-grown diamond engagement rings cost?
A lab-grown centre stone typically runs around 50 to 70 per cent less than a comparable natural diamond — a 1.00ct D-VS1 lab-grown sits near $1,500 where the natural equivalent is closer to $8,000. On top of the stone you're paying for the setting metal and the making; because we design, set and finish each ring at our own Frankston workshop you're not paying a middle-man margin. We quote against your actual design rather than a from-price.How long does a lab-grown engagement ring take to make?
Approximately 3–4 weeks from CAD sign-off, subject to complexity and workshop capacity. Lab-grown stones are usually quick to source, so the make is normally the longer part — we'll give you a realistic date at the design consultation and tell you honestly if a proposal deadline is tight. We also have 2-week and 48-hour options for engagement and bridal rings. Get in touch to discuss what is possible for your timeframe.Can I choose the setting and design?
Yes — the lab-grown stone is just the centre. Every setting we make is designed with you: solitaire, halo, three-stone or a fully bespoke design, in your choice of metal, band width and setting height. The finished ring is drawn and approved by you before we make it.What if the ring doesn't fit?
We'll ensure it's a fit — one free resize within the first 2 months, for a change of up to three ring sizes. If you're planning a surprise proposal we can also help you find the size without giving the game away.Can I change my mind and use a natural diamond instead?
Yes. We source both lab-grown and natural diamonds, so we'll set them side by side and compare them against your budget and design without pushing you either way. The design and making process is identical whichever origin you choose.How do I start designing a lab-grown engagement ring?
Frankston handles all services, including repairs, valuations, engraving, remodelling, engagement rings and wedding rings. Walk-ins are welcome at our Frankston workshop at 92 Young Street, Frankston VIC 3199. Email us before visiting Collins Street for engagement-ring and wedding-ring consultations. Please wait for our email confirmation before coming in. Private and unhurried, it suits a first design conversation.
Ready when you are
- Your ring includes one free resize within the first 2 months, for a change of up to three ring sizes, plus aftercare through the Frankston workshop for the life of the ring
- The actual GIA or IGI grading report available for the individual diamond, plus an Anny's appraisal certificate for your insurer
- Email us about your design ideas at the Frankston workshop (92 Young Street, Frankston VIC 3199). Email us before visiting Collins Street (Level 3, 257 Collins Street, Melbourne VIC 3000) for engagement-ring or wedding-ring consultations.