How Much Is a 2, 3 or 4 Carat Lab Grown Diamond Ring in Canada?

In this guide

    By Clint Casmiro, Co-Founder, Smiro Studio · Updated October 22, 2026

    Short answer: On one of our listed oval tulip rings in 14K gold, the complete ring with an IGI certified lab grown diamond costs $3,700 CAD at 2 carats, $4,400 at 3 carats and $5,100 at 4 carats. Loose, a 2 carat lab grown diamond ran a median of $2,546 CAD in our June to September 2026 listings. Half of our Canadian ring orders were quoted between $5,100 and $7,000 CAD, centre stone included.

    Oval six petal tulip engagement ring with a hidden halo and split shank

    Most price questions online are about loose stones. People buying a ring want the price of the ring. Here are both, from our own listings.

    What does each carat cost on a complete ring?

    Centre stone Complete ring, 14K gold
    2 ct $3,700
    2.5 ct $4,100
    3 ct $4,400
    3.5 ct $4,800
    4 ct $5,100
    5 ct $5,800
    7 ct $6,200

    Our Oval Six Petal Tulip Hidden Halo Split Shank, CAD, listed October 2026. Lab grown oval, IGI certified, F colour and up, VS1 and up, ratio 1.40 to 1.50. In platinum the 2 ct ring is $4,350.

    What does the loose diamond cost?

    Centre stone Listings Median price
    2 ct lab grown, IGI 72 $2,546
    2 ct natural, mostly I to J colour, VS 18 $9,905

    Diamonds priced through our ring builder, June to September 2026, CAD, loose stone only. Lab prices move fast, so treat this as a snapshot.

    So a 2 carat natural diamond costs roughly four times a 2 carat lab grown one. That gap is why most of our clients go lab grown. More in lab grown vs natural diamonds.

    What changes the price at the same carat?

    • Lab or natural. The biggest swing for the same size.
    • Shape and cut. Some shapes cost more to cut, and a custom cut costs more again.
    • Colour and clarity. We start at F and VS1 and can go either way. Most people overspend here, see where people overspend.
    • The setting. Hand engraving, a hidden halo or a hidden gem each add to the price.
    • The metal. 14K, 18K or platinum.

    What do people actually spend?

    The median centre stone on our ring orders is 3.0 carats, and 81% fall between 2 and 4 carats. Half of our Canadian ring orders were quoted between $5,100 and $7,000 CAD, centre stone included. The spread by budget is on our pricing page, and the order counts behind these numbers are in the SMIRO Ring Report.

    Carat is weight, not size, so two 3 carat stones can look quite different: carat vs ratio. For a price on your exact ring, the free estimate takes about a minute.

    Want to see what your budget gets?

    A free 20 minute video call with our team. Bring a photo, a budget, or nothing at all.

    Book a free callGet a free estimate

    From our collection

    Round Six Petal Tulip Solitaire engagement ring in yellow gold, back angleRound Six Petal Tulip SolitaireRound Classic Solitaire engagement ring in yellow gold, angled viewRound Classic SolitaireOval Classic Solitaire engagement ring in yellow gold, angled viewOval Classic SolitaireEmerald Classic Solitaire engagement ring in yellow gold, angled viewEmerald Classic Solitaire

    Questions we get about this

    How much is a 2 carat lab grown diamond ring in Canada?

    On our listed oval tulip ring it is $3,700 CAD complete in 14K gold. Loose, a 2 carat lab grown diamond ran a median of $2,546 CAD in our 2026 listings.

    How much is a 3 carat lab grown diamond ring?

    $4,400 CAD complete on the same listed ring in 14K gold, with an IGI certified lab grown oval.

    What carat do most people choose?

    The median centre stone on our ring orders is 3.0 carats, and 81% fall between 2 and 4 carats.

    Do lab grown diamonds come with a certificate?

    Yes. Every diamond 1 carat and up we sell comes with an IGI certificate that states it is lab grown.

    Keep reading

    Written by Clint Casmiro, co-founder of Smiro Studio with Karina. We are second generation jewellers. Our dad Kenny has more than 40 years at the bench and oversees production, and we have built over a thousand tulip basket rings. Every ring is designed in CAD and you approve 3D renderings before production. We ship free and insured across Canada and the US.

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