Determining diamond prices is a complex process – and it gets even more complicated when you consider multiple factors that play a massive role in the pricing of diamonds. Conducting initial research is crucial before purchasing a stone – that’s what we’re trying to say here.
And since this is such an extensive topic, in this article, we wanted to cover the ultimate price list: how much is a [0.1 to 40] carat diamond worth.
Let’s take a quick look at the price chart of diamond. To provide valid, comparable data, the prices we included here are for excellent cut round diamonds with K color and SI2 clarity.
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|Carat Weight||Diamond Prices|
|0.1-Carat Diamond||around $70|
|0.25-Carat Diamond||between $275 to $440|
|0.5-Carat Diamond||between $600 and $1,150|
|1-Carat Diamond||between $2,450 and $3,600|
|1.5-Carat Diamond||between $5,700 and $7,280|
|2-Carat Diamond||between $10,200 and $18,300|
|3-Carat Diamond||between $24,600 and $30,700|
|4-Carat Diamond||between $32,500 and $43,700|
|5-Carat Diamond||between $53,100 and $64,000|
|10-Carat Diamond||between $400,000 and $1,000,000|
|20-Carat Diamond||between $2,500,000 and $5,000,000|
In the sections below, you’ll find information on which factors play a role in determining a gem’s price and what to look out for when buying one. So, without further ado, let’s dive in!
Who And What Determines Prices Of Diamonds?
Given that diamonds are one of the most valuable gemstones, it’s essential to understand how their prices are determined and why two identical stones sometimes don’t have the same price tag.
It’s a strange concept, indeed.
Below, we’ll explore aspects that impact the final price of the diamond. In addition to the 4C’s of diamonds, we’ll discuss the role of certification, physical appearance, and buying online versus locally.
The Prices Of Rough Diamonds
The unprocessed rough diamonds market is distinguishable from cut and polished ones.
Mainly De Beers, Alrosa, and Rio Tinto, just to name a few, maintain stable prices by regulating the number of available rough diamonds in the market at a specific time. Apart from controlling the volume, these companies control rough diamonds’ mining, marketing, and processing, too.
In turn, regulated supply stabilizes and dictates the prices of finished diamonds.
It’s crucial to note that the suppliers aren’t allowed to be involved in the rough diamond business unless they are compliant with the Kimberley Process.
De Beer organizes ten sights annually, during which they exhibit rough diamond collections to sigh holders – each of these collections is typically worth between 1 to 25 million USD.
Sight holders are diamond dealers who cut and supply these stones to the market. Being a De Beers sight holder is considered prestigious within the diamond trading world.
- Raw Uncut Diamond Price List: Rough Diamond Prices Guide
- Diamond Price Per Gram: How Much Is A 1-gram Diamond Worth?
The Rapaport Diamond Report Of Polished Diamonds
The standard processes determine the pricing of polished diamonds within the industry. Several aspects affect the pricing equation – having to do more with market demand and less with cost.
A Belgian diamonds industry broker called Martin Rapaport and his team determines the prices of diamonds. These prices mirror the current market state of the industry – and get issues on the so-called Rapaport Diamond Report.
This report is published on a weekly basis and is available for premium subscribers.
The Rapaport Diamond Report showcases a price based on the combination of diamond clarity and color with a carat weight range of 0.01 to 5.99.
Rap prices are typically high, often used by diamond traders for reference purposes.
The Effect Of Rap Prices
The establishment of Rapaport prices regulates the potential manipulation of diamond prices – which is good news for diamond buyers.
However, for a diamond dealer who wants to hyper-inflate the prices of diamonds, Rap prices are unfavorable.
Before Rap prices commoditized diamonds, for the longest time, the diamond industry deemed diamonds as gemstones of infinite value.
In the first few decades of Rap Prices Introduction, some diamond dealers continued to sell the gemstones well above the Rap prices. However, with its growing popularity, most retail diamond sellers have taken Rap prices much more seriously.
A Deeper Dive Into Determining Diamond Price
To ensure that diamond buyers get the most value for their budget, we’ll cover critical factors that impact a diamond’s price below.
Carat, cut, color, and clarity – chances are you’ve heard about the 4C’s of the diamond grading. However, within these grades, there are subdivisions, variations, and “judgment calls” that the Rapaport diamond report doesn’t include in its pricing data.
The 4C’s determine how much a stone will cost. The more flawless and colorless the diamond is, the more value it gets. You can save quite a bit on clarity and color if you have budget constraints – since these factors aren’t usually that noticeable to the naked eye. Most diamond buyers look for a stone that’s just colorless and eye-clean.
Now let’s put everything into perspective.
Carat most significantly affects the price of a diamond.
For example, consider several gems with similar clarity, color, and excellent cut. The price of the diamond proportionally increases with carat weight.
Theoretically, a 0.5-carat stone would cost double what a 0.4-carat one costs. And the same will go for 0.75 and 1-carat stones.
Big diamonds are scarce, and their prices will reflect that.
But if you take a closer look, you’ll notice that the most rapid price shits happen at a whole carat and half-carat point.
That’s why looking for a gem that’s just slightly below a whole number – for instance, 0.9 instead of 1-carat – could be an excellent option for people with budget constraints.
Additionally, purchasing a diamond is generally driven more by emotion and less by reason.
For instance, a 0.99-carat diamond will cost 1% more than a 0.98-carat diamond. Conversely, a 1-carat diamond will cost 10% to 20% more than a 0.99-carat stone of similar characteristics – and that’s because the prior can be called a “full carat weight diamond.”
Since prices of diamonds rapidly jump as the carat weight increases, most diamond cutters feel the need to cut a gem that strikes a whole carat number.
Unfortunately, focusing on hitting this whole carat number might result in undesirable diamond characteristics instead of maximum brilliance. That leads us to consider the second of the 4C’s – the diamond cut.
The cut of a diamond is by far the most important aspect to consider when buying a diamond – and here’s why:
A diamond’s cut determines sparkle, scintillation, fire, and the overall brilliance of the stone. An ideal cut can produce a sparkle that might mask undesirable colors and hide inclusions, making an average stone look like a top-quality one.
But don’t confuse cut for shape – the cut is proportion, symmetry, and polish, while the shape is the outline shape of a stone from the top down.
For instance, the round is a shape – and not a cut.
The diamond’s cut dictates how brilliant the gemstone is and defines how light travels through facets. Imperfect diamond cuts leak light – which results in a dull-looking stone.
An ideal cut has perfect symmetry, seamless proportion, and excellent polish. Dimensions and facets are purposefully cut in order to maximize the internal light’s reflection.
Aesthetically, a diamond’s cut significantly affects a diamond’s beauty – the better the cut, the better the diamond’s brilliance.
Due to the cut being a higher priority in a diamond, we would recommend you get the best cut possible. You can save some money on other C’s if you get a perfectly cut diamond.
An ideal cut diamond can also appear more prominent, whereas a poor deep cut one can just have increased weight.
Related Read: Which Diamond Cut Sparkles The Most?
The diamond color also has an impact on the diamond’s brilliance.
Color refers to the slight yellow hue in the stone – and ranges from D to Z. However, retailers generally don’t sell diamonds with a higher grade than K.
Colorless diamonds are pretty rare; therefore, they come at a premium price. Most stones have a slight yellowish hue – but don’t worry, it generally isn’t detectable by the naked eye.
It’s difficult to tell a colorless stone from an almost colorless one.
That means there’s no point in spending additional money on something that will have no visible impact on the diamond.
To get the most value for your budget, consider opting for color G, which is generally viewed as the inflection point between a colorless diamond and a slightly noticeable yellow hue in a stone.
Again, most people can hardly differentiate between these two.
The diamond’s clarity describes flaws within a diamond. These imperfections usually consist of inclusions, which are internal flaws, and blemishes, which refer to the defects on the diamond’s surface.
Most diamonds have flaws within them but what matters the most is the location and visibility of these imperfections.
Some people make the relatively expensive mistake because they assume that all high clarity graded diamonds are eye-clean.
Labs grade a diamond’s clarity based on flaws visible under an X10 magnification. The human eye can’t examine a diamond in such detail in real life. An imperfection would have to be pretty evident to be visible to the naked eye.
That’s why a clarity grade of VS2 can be of the best value for your money.
For example, if you look at the price differences between clarity grades with the same cut, carat, and color, you’ll conclude that internally flawless stones are priced higher due to their rarity.
However, it’s almost impossible to appreciate high clarity graded diamonds – since the difference isn’t visible to the naked eye.
A certification from a reputable lab has to be the most crucial factor in determining a diamond’s price.
For one, the certification will inform the buyer that the stone is indeed a natural diamond. With a grading report, one can also confirm the real quality of the diamond from an unbiased third party – the GIA, for example.
Related Read: What Is The Difference Between Certified And Non-certified Diamonds?
Among all the diamonds on the market, round brilliant diamonds are the most expensive. Their popularity originates from the fact that they showcase incredible brilliance, precisely made to be that way.
Princess cut diamonds are the next in line when it comes to overall popularity – and the second most expensive since they sparkle almost as much as a round brilliant diamond.
An oval-shaped diamond is a more modern diamond shape with an elegant twist to it. Other cuts, such as emerald, Asscher, pear, and marquise, are fancy-shaped cuts that cost a bit less compared to the round brilliant diamond.
Opting for a shape other than round can aid you in saving as much as 20% to 30%. Redirecting that money towards other aspects can be helpful in getting an overall better stone.
Related Read: Which Diamond Shape Is Best? Guide To Popular Diamond Shapes
Online Vs. Local
Knowing that some online shops offer better pricing without compromising quality is also crucial. Brick-and-mortar jewelry shops tend to have higher prices since they transfer overhead costs to the customer.
Jeweler’s markup has a significant influence on the pricing of diamonds, too. The same quality diamond might be priced several times higher in other places.
We recommend you shop online as the price difference can save you up to 50% compared to local jewelry shops. Low overhead cost is one of the few reasons for this inconsistency in gem pricing.
Diamond Price List
Below, we’ll cover prices of diamonds from 0.1 carats and going all the way up to 40. To provide valid, comparable data, the prices we included here are for excellent cut round diamonds with K color and SI2 clarity.
How Much Is A 0.1-Carat Diamond Worth?
- Being extremely small, the price for a 0.1-carat diamond is around $70.
How Much Is A 0.25-Carat Diamond Worth?
- The price for 0.25-carat diamonds ranges between $275 to $440.
How Much Is A 0.5-Carat Diamond Worth?
- The price for 0.5-carat diamonds ranges between $600 and $1,150.
How Much Is A 1-Carat Diamond Worth?
- The price for a 1-carat diamond ranges between $2,450 and $3,600.
How Much Is A 1.5-Carat Diamond Worth?
- The price for a 1.5-carat diamond is somewhere between $5,700 and $7,280.
How Much Is A 2-Carat Diamond Worth?
- Now we start to see the real jump in price. Most 2-carat diamonds cost between $10,200 and $18,300.
How Much Is A 3-Carat Diamond Worth?
- As we go higher in carat, the prices increase drastically. The price for a 3-carat diamond should be between $24,600 and $30,700.
How Much Is A 4-Carat Diamond Worth?
- For a 4-carat diamond, you can expect to pay somewhere between $32,500 and $43,700. An insane amount, huh?
How Much Is A 5-Carat Diamond Worth?
- 5-carat diamonds are sold at the price tag of $53,100 – but it can be as much as $64,000.
How Much Is A 10-Carat Diamond Worth?
- Now we’re stepping into the most prestigious zone. 10-carat diamonds aren’t that common at all. However, if you somehow manage to come across a 10-carat stone, its price tag would be somewhere between $400,000 and $1,000,000.
How Much Is A 20-Carat Diamond Worth?
- As we go up in carat weight, we start to reach some astronomically high prices. Since 20-carat diamonds are scarce, one that comes across such a stone could expect to see a price of $2,500,000 all the way up to $5,000,000.
How Much Is A 30-Carat Diamond Worth?
- We’re already neck-deep in the zone of diamonds that aren’t available to the general consumer market. So, we have examples – but not exact price estimates. With that said, in 2009, a 32-carat emerald-cut Annenberg diamond was sold for $7.6 million at a New York auction.
How Much Is A 40-Carat Diamond Worth?
- No one can expect to find a 40-carat diamond – they’re extremely rare. Research reveals that a stone that weighed just over 40-carat named Polar Star was first owned by the older brother of Napoleon, Joseph Bonaparte. This enormous gemstone passed through several hands, and Cartier ransomed the diamond in the end.
- The latest sale of this diamond took place in November 1980 in Geneva. At today’s exchange rate, its price would equal $8,366,500.
Related Read: Lab-grown Diamond Price List: Natural Vs. Lab Diamonds Price
So, what dictates the prices of diamonds?
Factors such as companies controlling the supply, or the physical characteristics like carat, cut, clarity, and color all play a role in determining the diamond’s price.
Depending on the carat weight, one can expect to pay $70 for the most petite stones and over several million for the biggest ones – although they are scarce and typically unavailable to the general public.