The Essential
Diamond price is often the first thing that comes to mind when looking at purchasing any form of diamond… Cost. In the different diamond specifications, you’ll see that there are ways to get the best value for your budget. You don’t have to go for the highest quality to get something that’s just as beautiful for the diamond you want.
Understanding the factors that influence price and what they really are is essential and allows you to make the best informed decision about which criteria offer the right trade-off for your budget, setting your own personal trade-off levels within the scale. While choosing diamonds can seem overwhelming at first, and while there are many other specifications to consider, the choices don’t have to be overwhelming – and remember, in the end, you’re buying something that’s great value, and it can be passed down through several generations.
CARAT WEIGHT AND PRICE
Carat weight is one of the fundamental factors in determining the price of a diamond. As a general rule, the heavier the diamond, meaning the higher the carat weight, the more expensive it becomes. Price per carat is one of the best ways to compare the cost of similar diamonds. To calculate this, simply divide the cost of each stone by the carat weight. Because they are rarer, larger diamonds are in much higher demand than smaller stones and therefore command much higher prices per carat. A diamond that is twice the size of another can be up to four times the price. For example, a one-carat solitaire diamond ring is almost always more expensive than a diamond ring made up of several smaller diamonds, whose total weight is one carat.
UNDERSIZE AND OVERSIZE DIAMONDS
Diamonds are usually cut to a rounded number in their carat weight, for example 0.70 ct or 1.00 carat, rather than 0.69 or 0.99. For this reason, diamonds that weigh just below the weight “threshold” (e.g. 0.68 ct or 0.69 ct) are rare but highly recommended because they cost less than diamonds whose weight has been rounded up to up. Similarly, diamonds whose weight slightly exceeds the barrier are referred to as “oversized” and also offer excellent value for money because they have not been rounded.