Diamond Price: What You Need to Know When Buying a Diamond in 2023
Updated – January 01, 2023 | Reading Time: 15 minutes
Get Informed About Diamond Prices Before Buying to Avoid Overpaying
Thinking of buying a diamond? You probably have a fixed budget for the engagement ring, and your goal is to get the best, biggest, and most brilliant diamond within that budget. We will show you exactly how to do that.
If you want to get the best value for your money, focus on certain aspects of the diamond and know which ones you should not prioritize to get a valuable and pleasing engagement ring.
Basic Rule: A 1-carat diamond could cost between 7,300 and 91,250 AED. This means that the price of a mid-range diamond should be between 40,150 and 43,800 AED. It sounds simple but may not be so obvious because you should not think in these terms.
A good-quality 1-carat diamond should cost you between 16,875 and 26,250 AED. We’ll explain below the price of the diamond and how you should choose it.
In summary: Save money on the cut and clarity. You just need a clean diamond (flaws are not visible). We recommend H-color diamonds and VS2 clarity as a clean mid-range quality for jewelry use.
So, What Is the Price of a Diamond?
To assess the price of a diamond, you need to consider four essential elements: the diamond’s shape, the stone’s internal characteristics (the 4Cs), the type of diamond (white or colored), and the laboratory that certifies the stone.
To give you a brief idea, please find the average diamond prices updated in October 2022:
- The average price of a 0.5-carat diamond is 6,750 AED
- A 1-carat diamond is worth between 18,750 and 26,250 AED
- A 2-carat diamond is worth between 75,000 and 93,750 AED.
Of course, the actual price range is much broader, but these price ranges indicate the threshold where you get the best balance between price, quality, and beauty of a diamond.
We will go through all the factors that influence diamond prices. You will receive expert advice on how to get the best value to avoid making a mistake.
Reading this guide will only take 15 minutes. By the end, you will be equipped with the necessary knowledge to save up to 40% on your engagement ring or any other diamond jewelry.
In this guide, you will find:
– The price for a 1-carat diamond
– The price for a 2-carat diamond
– The price for a 3-carat diamond
– How are diamond prices calculated?
– How to calculate the price per carat?
– Impact of the 4Cs on diamond prices
- Carat: Is it the most important?
- Cut: Why should this be the top priority
- Color: Influence of color on price
- Clarity: Also worth considering but choose wisely
Shape: Value, cut, and sparkle, Certification, Fluorescence.
In summary: We will provide recommendations for getting the best value for money and consciously choosing the ideal stone.
What You Need to Know About Diamond Prices
In this article, we will delve into the industry secrets regarding diamond prices that traditional jewelry stores often fail to explain. But before we get into the details, here are some key points you absolutely need to know to get the best diamond for your budget.
Quality (4Cs): The carat weight, cut, color, and clarity of a diamond determine its value. The more perfect and colorless the stone, the higher the prices.
But here’s a secret: save on color and purity. These characteristics are generally not visible to the naked eye. All you need is a diamond that looks clean and white.
We recommend H-color and VS2 or SI1 clarity as the median diamond quality for perfect aesthetics.
Certification: It is extremely important that you only buy a diamond certified by a reputable laboratory starting from 0.50 Carat. It is through this certification that you will know you have paid for the stated quality.
We recommend diamonds certified by GIA, HRD, or IGI laboratories as these certifications have the highest grading standards.
Note: Many customers opt for “effect” stones that have price optimization compared to carat weight. For example, if you want to buy a 1.00 Carat diamond for less than 11,000 AED or a 2-carat diamond for less than 26,250 AED, the diamond will certainly not come with a laboratory certificate because every expense counts to reach your price.
Where to Buy: Jeweler profit margins have the most significant impact on diamond prices. A stone of the same quality can be several times more expensive when presented in a branded blue box.
To avoid paying high prices, we recommend shopping online at places like Celinni.com. Online retailers can cost up to 50% less than large jewelry stores.
It’s important to understand the credibility of the diamond dealer and briefly assess their operating and advertising expenses to be able to understand selling prices.
What Price for a 1 Carat Diamond?
The price of a 1-carat diamond ranges from 7,000 to 91,250 AED depending on its shape:
- 7,729 to 96,611 AED for a round diamond
- 7,729 to 38,644 AED for a princess-cut diamond
- 6,569 to 65,695 AED for a cushion-cut diamond
The average size of diamonds for engagement rings is approximately 1 carat. So, how much can you expect to pay for a 1-carat diamond? Here’s the price chart:
A good price for a 1-carat engagement ring is around 22,500 AED for an ideal-cut diamond with a color grade of H and a clarity grade of VS2. We will explain in this article what “cut, color, and clarity” mean.
The table below shows the price ranges for 1-carat round diamonds with an ideal cut. Depending on the color and clarity, you can easily see the significant price difference.
|D||26,000-32,000 AED||20,000-26,000 AED||16,000-22,000 AED||14,000-20,000 AED||13,000-18,000 AED||11,000-16,000 AED||9,000-14,000 AED|
|E||22,000 AED||18,000-23,000 AED||15,000-20,000 AED||13,000-18,000 AED||12,000-16,000 AED||10,000-14,000 AED||8,600-13,000 AED|
|F||19,000-22,000 AED||18,000-20,000 AED||15,000-18,000 AED||12,000-18,000 AED||12,000-16,000 AED||10,000-13,000 AED||8,600-11,000 AED|
|G||13,000-15,500 AED||10,600-14,000 AED||10,600-13,000 AED||10,000-13,000 AED||9,250-12,500 AED||8,000-10,600 AED||6,800-9,000 AED|
|H||11,900-13,900 AED||10,000-13,000 AED||9,250-11,700 AED||9,250-11,700 AED||8,900-10,950 AED||7,900-10,000 AED||6,800-9,000 AED|
|I||10,800-11,900 AED||9,900-11,900 AED||9,250-10,800 AED||9,250-10,800 AED||8,900-10,800 AED||7,900-9,900 AED||6,650-8,190 AED|
|J||9,250 AED||8,325-10,175 AED||7,000-8,750 AED||7,000-8,900 AED||7,000-8,900 AED||6,475-8,225 AED||5,775-7,475 AED|
The information below highlights the best value for money. A color grade of H and a clarity grade of VS2 will allow you to obtain a diamond that appears white and clean to the eye. If you can find a diamond with a top clarity grade of SI1, that’s even better.
Diamond Prices In-Store vs. Online
One thing to note is that we are using online jeweler prices. An independent market study by Maison Celinni revealed that online jewelers offer prices 32% to 50% lower than those of traditional major jewelers.
Online jewelers are able to offer much lower prices due to their low overhead costs.
They are also able to offer a wider selection.
If you see a cheap diamond in a traditional store or there’s a diamond sale going on, make sure the diamonds are certified.
In many cases, they are not, which is why they are being sold cheaply.
Also, make sure you are buying a natural, unaltered diamond!
How Much to Pay for a 2-Carat Diamond?
The price of a 2-carat diamond varies between 18,500 and 296,000 AED depending on the internal characteristics it possesses. The median price for a good-quality 2-carat diamond falls between 74,000 and 92,500 AED.
Here is a table of prices based on an ideal cut, a 2-carat round diamond, depending on its color and clarity:
|D||240,000-270,000 AED||165,000-220,000 AED||130,000-205,000 AED||110,000-185,000 AED||92,500-148,000 AED||74,000-111,000 AED||55,500-92,500 AED|
|I||36,000-44,000 AED||33,300-48,000 AED||30,800-42,900 AED||28,500-42,900 AED||28,500-37,800 AED||24,400-37,800 AED||20,900-33,300 AED|
|J||28,500-37,800 AED||24,400-33,300 AED||24,400-33,300 AED||24,400-31,550 AED||22,400-29,600 AED||18,800-29,600 AED||18,800-25,900 AED|
The highlighted boxes are where we recommend you stay to get the best value – a diamond that appears white and clean to the eye. Also, don’t forget that for fancy shapes, you may also get a 10% to 30% premium on these prices.
What Is the Price of a 3-Carat Diamond?
A 3-carat diamond can cost between 74,000 and 740,000 AED or even more. For the best value, we recommend a 3-carat diamond with color H and clarity VS2, which will cost approximately 129,500 to 185,000 AED, depending on the shape.
How Are Diamond Prices Calculated?
There is no single diamond calculator. Many factors determine the final selling price of a diamond. We will discuss these factors further in this article.
Diamond prices are calculated per carat. The price per carat increases exponentially as the carat weight increases. This is because larger diamonds are rarer to find.
For example, a round diamond of 0.25 carats starts at around 1,125 AED, and a round diamond of 0.5 carats starts at around 2,438 AED.
But a round diamond of 1 carat reaches over 8,750 AED in the lower range. For a better value, we recommend staying just below half or full carat weight (for example, opt for 0.9 carats instead of 1 carat).
How to Calculate Diamond Prices?
Diamond prices are calculated per carat. A 0.5-carat diamond can cost 11,250 AED per carat. The price of this diamond would be 5,625 AED (11,250 AED * 0.5).
The cost per carat increases with weight and quality.
To determine the price of a diamond, you need to consider the 4Cs: Color, Clarity, Cut, and Carat weight. Prices also vary for different shapes. No two real diamonds are identical.
Did you know: Like diamonds, no two snowflakes are alike?
How to Calculate the Price per Carat?
Using the price per carat, here’s how to calculate the actual diamond price:
- If a G SI1 stone weighing 0.91 carats costs 21,234 AED per carat, the diamond’s price would be 19,323 AED (0.91 x 21,234 AED).
- If an H VS2 stone weighing 1.2 carats costs 27,798 AED per carat, the diamond’s price would be 33,357 AED (1.2 x 27,798 AED).
Here’s how you can use the price per carat to determine the best value:
- A 0.88-carat diamond costs 19,304 AED. The price per carat is 21,937 AED (19,304 AED/0.88).
- A 0.82-carat diamond costs 18,532 AED. The price per carat is 22,597 AED (18,532 AED/0.82).
Even though the second diamond is cheaper, it is actually more expensive per carat. In this case, one might consider the first stone to be the better deal.
Note that to compare price per carat, you must compare apples to apples. This means comparing diamonds with the same size, color, clarity, fluorescence, and laboratory certificate. You must also assess the actual appearance, including whether defects, hues, or haziness are visible.
Diamond prices are set per carat.
Here’s what you get at lower carat weights.
How Much Does a 0.5-Carat Diamond Cost?
A good-quality 0.5-carat diamond (H, VS2) costs around 11,582 AED per carat.
This means the diamond itself would cost 5,791 AED (0.5 * 11,582 AED).
What Is the Value of a Quarter-Carat Diamond?
A quarter-carat diamond of similar quality is worth about 7722 AED per carat. So, the diamond itself would cost 1930 AED (7722 AED * 0.25).
What Is the Diamond Pricing Grid?
The Rapaport or Rapaport diamond report is a price list that serves as a reference for pricing various bulk diamonds. It is published every Friday and is intended to represent the current market value of diamonds.
Here is an example of what a Rapaport chart looks like (see above)
Note: This chart is provided for informational purposes only and does not reflect actual diamond prices.
It is presented as a grid comparing the color and clarity of different carat ranges. The numbers are expressed in hundreds (43 = 4,300 € x 4 = 17200 AED). The price listed is per carat. You need to multiply your carat weight by the indicated number to get the final price of the desired diamond.
Limits of Industry Diamond Price Charts
If there’s a comprehensive chart for diamond prices, why not use it all the time?
The Rapaport chart simplifies diamond prices. However, it has some issues, including:
It doesn’t account for cut quality: Rapaport prices are based solely on carat, color, and clarity. But the cut is a very important factor that influences a diamond’s brilliance. The price difference between different cut qualities can be significant.
Different diamonds of the same quality can look very different. One SI2 diamond can be entirely eye-clean while another may have visible flaws. One D color diamond can be beautiful and clear, while another might appear hazy due to strong fluorescence. Of course, the most beautiful diamond will be sold at a higher price.
The price is high. Rapaport itself states that the listed price is the “high price.” Retailers usually apply a discount. Some jewelers may show you Rapaport prices and tell you that you’re getting a “good deal” because they’re selling for less. If you’re not familiar with diamond prices, you might make a mistake believing that.
|Instead, use this article to learn how to get the biggest diamond with the most sparkle for the best value. Discover the key factors that influence diamond prices. Then, learn how to buy diamonds online to save even more and optimize your purchase.|
How to Get a Discount on Diamond Prices?
The 4Cs: Key Elements for Diamond Price Evaluation
You’ve probably heard of the 4Cs of diamonds: carat, cut, color, and clarity. It’s a good starting point to begin your education on diamonds.
The 4Cs combine to determine the overall beauty and price of a diamond. However, this doesn’t mean each C carries the same weight.
Don’t waste your money. Some Cs are not as important as others, but they can significantly drive up prices. If you don’t understand the essentials, you risk spending a lot on features you can’t even appreciate with the naked eye.
| Did you know? Don’t spend too much time trying to find the perfect diamond. Most women don’t care too much about that. 86% of women say the most important thing is the overall design of the engagement ring, for example.
You men, make more effort to find the engagement ring style that she will like the most.
Among the most common mistakes are:
- Buying a diamond with excessively high color and clarity, thinking it will make the diamond more “sparkling.”
- Assuming all diamonds are cut the same way and thus getting better color and clarity.
- Placing too much emphasis on carat weight and then having to make sacrifices on other criteria to stay within the budget, resulting in a dull and poor-quality diamond.
Don’t make these mistakes. This guide will help you understand what to look for in a diamond and what to prioritize and what you can afford to “save on.”
|Attention: Some retailers may try to overwhelm you with diamond price charts to show you how good a deal you’re getting.
It’s true that wholesalers and dealers use Rapaport in the industrial trade. At first glance, the reports make diamond prices look like a straightforward black-and-white process.
However, that’s not the case. While it can serve as a good reference point, it lacks several important factors.
For example, it doesn’t take diamond size into account, which you will soon discover is the most important of the 4Cs in our opinion.
Experience shows that diamond price charts should be used with caution.
CARAT – Influence on Stone Price
Most people prioritize carat. That’s why it’s the first on this list. However, in our opinion, it’s not necessarily the most important.
Carat is generally the most visible of the 4Cs. Most admirers say, “What a big diamond!” instead of “What a colorless and flawless diamond!”
Unfortunately, this is probably the area where you have the least control. You likely already have a goal or a “requirement” and can’t deviate from it too much.
So, what is carat exactly? Carat refers to the weight of the diamond. One carat is equal to approximately 0.2 grams, which is roughly the weight of a paperclip. The higher the carat weight, the larger the diamond.
|Good to know: the word “carat” comes from the carob tree, a Mediterranean tree’s seed. These seeds have very uniform weights. In ancient times, in Europe and the Middle East, they served as a reference for weight for traders—especially when it came to gemstones, where slight differences in weight matter.|
The price of a diamond increases exponentially as the carat weight increases. A 0.5-carat diamond is almost twice as expensive as a 0.4-carat diamond. It doubles again when you go up to 0.75, and then to 1 carat. This is because it becomes increasingly rare to find raw materials good enough to make larger diamonds.
The biggest price jumps occur at the most sought-after points: half-carat and full carat. To get better value, look for a diamond just slightly below the full carat weight if your budget doesn’t allow for the desired size.
For example, here are some comparisons of 0.9-carat stones and 1-carat stones:
You can see that a 0.92-carat diamond costs up to 3,860 AED less than a 1-carat diamond, simply because it’s not a full 1 carat. But would anyone be able to tell the difference? It’s highly unlikely.
|Here’s the calculation: A round 1-carat diamond measures approximately 6.2 to 6.6 mm in diameter. But a round 0.9-carat diamond has a diameter of 6.0 to 6.3 mm. It’s literally just a difference of 0.2 mm at most (equivalent to the thickness of a piece of paper). But you can save so much. Don’t spend money on something you can’t even see. You would need a minimum size difference of 20% to be able to distinguish it.|
As the price of diamonds can significantly jump at a whole carat, diamond cutters are under a lot of pressure to cut stones that reach a nice full carat weight. Unfortunately, this means that many diamonds are cut to reach that desirable round number instead of being cut for maximum brilliance.
That’s why we recommend not getting too attached to a specific carat target and instead focusing on the following “C.”
Why We Need to Pay Attention to Diamond Cut?
(Cut in English)
We’re saying it now, and we’ll probably repeat it quite often throughout this article: diamond cut is the most important factor, and you should NEVER skimp on this point.
In fact, invest as much as you can in the cut and save money on other aspects.
It’s the cut that makes the diamond brilliant and sparkling. It can literally make the diamond so sparkling that it hides inclusions and masks slight colors.
Cut refers to the proportion, symmetry, and polishing, not the shape. A raw diamond doesn’t have brilliance. A diamond only shines through how it’s cut and how light bounces off each angle and facet. A poorly cut diamond will lose its brightness and appear dull.
A well-cut diamond will have ideal proportions and excellent symmetry and polishing. The proportions and facets are precisely cut to reflect the most light possible. This means the diamond will emit the most brilliance, fire, and sparkle.
Let’s examine the differences in cut:
Here, you’re looking at images of Ideal scope for 3 randomly chosen diamonds that have (from left to right) good cut, excellent cut, and super ideal cut. These images show the amount of light returned in red. You can see that the center of the first diamond has a lot of white, indicating light leakage. The super ideal cut diamond, on the other hand, is all red, which means all the light is being reflected back to the viewer, making it super sparkling.
Aesthetically, the cut also has a huge impact on the beauty of the stone itself.
The images below show some examples of diamonds of different qualities and cuts (Good / Very Good / Ideal / Ideal Hearts and Arrows). You can easily see that the better the cut, the more beautiful the diamond.
That’s why it’s so important to get the best cut possible. Not only do you get a sparkling diamond, but you can also afford to compromise a bit on the other “Cs” without a significant negative impact on the diamond.
Price Difference Between Natural Diamonds and Lab-Grown Diamonds
First and foremost, it’s important to emphasize that natural and synthetic diamonds have the same chemical and electrical properties.
The major difference lies in the age of carbon.
Where to Buy a Diamond a the Best Price?
To buy a diamond at the best price in our Jewellery Shop in Dubai, please meet our diamantaire´s team in the center of the city, at Gold and Diamond Park, building 6.
Monday to Friday : from 08:00 am to 7:00 pm
Saturday and Sunday : by meeting only
Info line and reservation 7/7 from 07.30 am until 9 pm : +971 56 361 7670
We will guarantee the best price of the diamonds on the market.