One of the top drivers of cost is the rarity and the size of the center stone. Depending on the type of stone you use, the price can vary widely. Many factors impact the price of diamonds and gemstones including the carat weight, the stone’s cut, clarity, and color, as well as the rarity of the stone. Generally, mined diamonds are the most expensive option, but there are some rare gemstones than can fetch a higher price tag. Lab created options are available for most gemstones and diamonds, and cost less than their mined counterparts.