The diamond industry has undergone a radical transformation over the last few years, and the definitive line that once existed between mined and lab grown diamonds has almost completely dissipated. Now, we have a market where lab grown options sit side-by-side with their mined counterparts; and as the technology to create these identical stones has become more refined, a fascinating question has emerged amongst luxury shoppers: do rich people actually buy them?
In the past, luxury was often defined by rarity and the sheer difficulty of acquisition. However, in 2026 the definition of luxury is shifting, with high-net-worth individuals increasingly prioritising ethics, technology and smart luxury over traditional status symbols. If you take a walk through Hatton Garden today, you will find that the answer is a definitive yes; but the reasons why the wealthy are making this switch are more nuanced than you might expect.
The Red Carpet Influence
One of the clearest indicators that the wealthy have embraced lab grown diamonds is their appearance at major global events. From the Met Gala to the Academy Awards, we’re seeing a celebrity shift where A-list stars are openly and proudly wearing lab-grown stones.
When a Hollywood actress or a billionaire’s partner steps onto the red carpet wearing a 60-carat lab-grown necklace, it sends a powerful message: this isn’t an alternative for those who can’t afford mined diamonds. It’s a stylish, intentional choice. High-profile figures like Selena Gomez, Meghan Markle and Emma Watson have all been seen wearing lab-grown pieces, legitimising the technology in the eyes of the global elite. For many wealthy consumers, if it’s good enough for a Royal or global superstar, it’s certainly good enough for their own collection.
Lab Grown Diamonds For Ethical And Sustainable Luxury
For the modern wealthy consumer, old luxury can sometimes carry a heavy conscience. Traditional diamond mining has long been associated with environmental disruption and complex ethical histories. In 2026 many high-net-worth individuals are deeply concerned with their personal carbon footprint and the story behind their possessions.
Lab grown diamonds are created using advanced technology; either Chemical Vapour Deposition (CVD) or High-Pressure High Temperature (HPHT), which mimics the natural growth process without the need for mining. For a resident of a luxury London penthouse who prioritises sustainability in their home and vehicle choices; an ethically-pure diamond is an extension of their values. Luxury is no longer just about what an item costs, it’s about how it was made.
The ‘Travel Jewellery’ Trend
Even those who own a vast collection of rare, mined diamonds are increasingly turning to lab-grown stones for practical and safety reasons when travelling. When holidaying in the Maldives or attending an international wedding for example, many people prefer not to travel with their most expensive, uninsured or simply irreplaceable family heirlooms. However, they still want the brilliance and prestige that only a diamond provides and because lab grown diamonds are chemically and physically identical to mined diamonds, they offer the exact same fire and sparkle. A 5-carat lab-grown ring allows a traveller to enjoy the luxury experience without the extreme anxiety associated with losing a multi-million-pound family stone.
Lab Grown Diamonds Give More Sparkle For The Investment
Even with a large disposable income, many luxury shoppers find the value proposition of lab grown diamonds impossible to ignore. In today’s market, choosing a lab-grown stone allows a buyer to significantly upgrade the quality of their ring for the same budget. Instead of a 2-carat mined diamond with some visible inclusions, a wealthy buyer can choose a 4 or 5-carat lab-grown diamond that is D-Flawless; the highest possible grade of purity and colour.
We are seeing many clients in Hatton Garden who have the budget for a natural stone but choose to go lab because they would rather have a larger, ‘perfect’ diamond that looks more impressive on the hand. In this context, it isn’t about saving money, it’s about maximising the visual impact of the piece.
Design Freedom With Lab Grown Diamonds
Because lab grown diamonds can be produced with more consistency, they allow for greater creative freedom. High-end designers are using lab-grown stones to experiment with avant-garde shapes and fancy colours such as vivid pinks, blues and yellows; options that would be incredibly rare and expensive in the natural world.
The wealthy are also often early-adopters of new technology and just as they were the first to embrace electric supercars, they are now embracing the precision of lab-grown gems. There is a certain tech-luxe appeal to wearing a stone that was literally grown in a state-of-the-art laboratory using the same physics that power the stars.
Are Lab-Grown Diamonds The New Heirloom?
A common argument against lab-grown stones is that they don’t hold their value in the same way as rare, natural diamonds. For a long-term financial investment, natural diamonds still hold the crown, however, most people buying an engagement ring or a piece of fine jewellery aren’t looking to sell it, they are looking to wear it. For many wealthy families, the value of a diamond is emotional. If a ring is beautiful, durable and represents a significant life milestone, it becomes an heirloom regardless of its origin. Since lab-grown diamonds have a Mohs hardness of 10, the same as mined diamonds, they will last for centuries. They won’t fade, cloud or scratch, meaning that they can be passed down through generations, just like any other piece of fine jewellery.
Making The Choice In Hatton Garden
Whether you’re looking for a mined stone or considering the move to lab-grown, the most important factor is transparency. Every high-quality lab grown diamond should come with an independent certificate that confirms its specifications (we offer GIA-certified diamonds at Hatton Garden Diamond).
If you’re curious about the difference, the best way to decide is to see them in person. When placed side-by-side, even the most experienced diamond experts cannot tell the difference without specialised laboratory equipment. Ultimately though, rich people do indeed buy lab-grown diamonds; because they offer a combination of superior quality, ethical peace of mind and the ability to own a truly spectacular stone that matches their lifestyle.
To explore the options for yourself, you can view our lab-grown diamonds here, or for a deeper exploration, you can visit our showroom by booking a consultation here.
Regardless of which type of stone that you choose; whether it came from the earth or the lab, a diamond’s true value lies in the joy it brings to the person wearing it.