Figuring out how much a diamond costs depends on an array of factors.  While it is mainly based on the Four C’s it can also depend on other variables that are lesser known.  For instance two exact same diamonds in terms of shape, carat weight, color, clarity, and cut can vary widely in price.  Let’s break it down here and see what can effect a diamond’s pricing.

The weight of a diamond is the first thing that may come to your mind when determining its price.  Diamonds are priced on a per carat scale and as size goes up, the price increases exponentially.  For instance, going from a 1 to a 2 carat diamond of equal quality, will take the price up by four times. While size increases so does the rarity of the diamond. Also, certain round numbers like 1.5, 2, 2.5 prices will be a little bit higher because they are desirable. This is why it is good to consider an “off-size” diamond such as 1.80 carat providing you with some savings and a comparable look.

Acceptable diamond color ranges can vary based on the diamond’s cut. For the most part we recommend D to J color range which spans the colorless to near-colorless range.  Within this range of color, you will see large price swings when going from going two color grades starting with “F” color.  D and E color diamonds will be priced very similarly as both will appear completely colorless.  Going to “F” will start to see some slight price decrease. However once you go from “F” all the way to “H” and even “I”, you will have a dramatic shift in the price.

So if you are figuring out where you can get the most savings then going from colorless to something in the G-H-I and even J color range for some.

Do note that even within single color grades there is range. For instance some “H” colors skew more towards the side of a “G” while others are closer to an “I”.  There is no absolute value of color for a diamond. This is why you can see diamonds of equal specifications with varying prices.  Keep in mind this is not noted on a GIA grading report

As with color, clarity can also see large price improvements when you move two grades or more.  In general we focus on the “VS” to “SI” range. This is a sweet-spot for many shoppers. Single clarity grades can have wide variances.  This is mainly due to the fact that are so many different types of inclusions and with how visible they are and their location.  As a a general rule of thumb, you will see the most dramatic price decrease when you go from the VS2 clarity range to SI1 and even SI2 clarity.  There are many SI clarity diamonds that should be avoided at all costs. Either with easily detectable inclusions or ones that have so many scattered inclusions they begin to look milky and lack sparkle.  GIA grading reports will only tell you the location and the type of inclusions but will not tell you if it is eye-visible or causes the stone to look dull.  That is why it can be misleading to think you are getting good value from a lower clarity diamond when in fact it will not have the real life beauty you expected.

There are ten diamond shapes most commonly used as engagement ring center-stones. The round brilliant cut diamond is always in a class of its own; it can be cut to exact standards to maximize sparkle. The round does use more of the rough diamond than all the others to cut it. This is why it is more expensive than other shapes. On average a round brilliant cut diamond is 20% more expensive than fancy cut diamonds.  Within fancy cut shapes there is usually a pecking order of the most popular shapes which will play a part in determining which one is most expensive.

Cushion cuts are cost effective when shaping them from a rough diamond however other popular shapes like oval, radiant and pear which are in high demand now and in low supply will command higher prices.  To take it a step further, within each of these shapes there are ones that have better overall cuts which will drive the price up even further.

The cut of diamond is something we cannot stress enough at Lauren B.  There is no listed cut grade for fancy shape (non-round cut) stones.  The reason is there are so many variables at play when it comes to the determining the proper proportions. It is not something that can be quantified into an accurate cut grade.  While there are certain things to look at on a report for how well a  fancy shape stone is cut, having a real life visual is the only way to fully understand it.

Cut is somewhere you should not sacrifice on to save money. It will have a direct impact on the sparkle and brilliance of your stone.  As an industry professional, I have seen diamonds of equal carat/color/clarity have price differences of almost 30% due to the cut alone and would still not consider them to be a good deal. In particular cushion shapes where are there are different cutting methods, can have drastic price differences from the less desirable “crushed ice” modified styles to the more crisp “cushion brilliant hybrids”. Click here to view the difference between crushed ice and hybrid style cushion cut diamonds

While not to be overlooked completely it should not be given as much as weight as the overall cut.  We try to focus on diamonds that have either excellent or very good grades for both. Determining the difference between the two is not always obvious viewing the diamond.  An excellent polish and symmetry diamond will command higher prices. It ensures the overall shape and outline of the stone and its facets are even.  Dropping down to very good will only lead to an incremental price decrease but going to a “good” grade will see a larger cost shift.  Do note that Good is still acceptable in many cases. We do not recommend diamonds with “fair” or “poor” grades as you would start to notice the uneven look of the stone to the naked eye

Relates to a diamond’s measurements. This is an often-overlooked aspect of a diamond that will directly effect both its appearance and price.  Carat weight is only an indicator of how much a diamond weighs. Its actual millimeter measurements will give you the full picture on size.  You do not want a diamond that is too flat because it will loose sparkle. It is not easy to find a diamond that is not deep and still has brilliance.  Spread effects pricing and we do not recommend sacrificing on this as you will be losing surface area.  Deeper cut diamonds across all shapes are significantly less expensive. In some instances we would recommend a larger spread diamond of lower color than a higher color diamond with a smaller spread if all else  was equal.

The last factor is something that most consumers will not be privy to unless they do extensive research.  First of all, diamond prices can fluctuate based on broader economic factors or supply/demand within the industry itself.  Within that, certain diamond shapes become more popular than others and will shoot up in price as others decline.  As an example, princess cut diamonds used to be the number one choice for engagement rings. At that time they commanded a higher price than any other fancy shape. During that same time period, oval diamonds were considered dated and old fashion and could be had for cheaper.  Today ovals far surpass them in popularity. Their prices are about 10-15% higher than princess cut diamonds as a general rule.  Predicting economic and fashion trend can be tough. When you shop for a diamond that they do have an impact on their pricing.