How much does a Diamond ring cost
The price of diamonds varies wildly, depending upon the characteristics of the stones. Some can cost less, while some can cost you a fortune. Let us have a closer picture of how much different types of diamonds cost and what drives their prices, will help you to understand about Diamond ring cost.
Factors that determine the price of a diamond:-
1. Price of the diamonds
The price of the diamond depends upon its carat weight and quality, which is determined mainly by the stone’s color, clarity, and cut. To be clear, if the quality and appearance of the diamond are unique and rare, its price will be in a higher range.
For instance, if you have white diamonds, they are more expensive than those that have yellowish tints as it is really tough and rare to find such diamonds that are crème de la crème and nearly transparent. Unlike color and clarity, a cut is also one of the most important factors in deciding the price of the diamond. The design and cutting of the diamond are done by the jeweler at the time of polishing.
There are estimated proportions, that is taken into the consideration of a round and oval diamond. It’s the benchmark of the stone that decides whether the pricing will be high or low; the closer a stone is to this benchmark the higher is its pricing. The weight of a diamond is measured in carats. One carat (1ct) is equal to 200 milligrams. So the bigger a diamond is, the rarer it is and so will be its cost.
2. Cost of Top Quality Diamonds
The diamonds with 4cs, that is, color, carat, clarity, and cut, are at the top of the grading scale and can be really expensive. For instance, a carat stone with your desired colors (grade D), excellent clarity grade (IF), and a cut graded as “great or awesome” can cost more than $20,000. So, it also varies on the cost of the Diamond ring.
Even if you find a very good looking stone (F color), vvs2 clarity, very good cut for about $2,000 for a 0–50-carat diamond, the same quality diamond but if its weight is around 1 Carat that will cost you in the price range between $7,000–8,000.
However, the same stone but with a lesser carat weight of about 0.70–0.75 carats can cost you in the range $7,000–8,000.
Photo Courtesy: www.telluridehotelguide.com
3. Price Range of Low-Quality Diamonds
Diamonds of cheap quality, that is, the stones with clarity gradation 1 or even lower, colour with a grade lower than J, and cut grade that is “fair” or even less than that can be found for less than $1,000–2,000 (Price for diamond stones that weighs 1carat or less).
There are some pretty big stones available in this range mentioned above that are low quality and such diamonds are not worth the money. Diamond stones with low quality have a visible flaw and tinted look. Their brilliance will be very low due to their poor cut. In this cost of the diamond ring lesser than expected.
4. Price of Best Value Diamonds
Diamonds with the best value are the stones with moderate clarity, that is, not the best but not so poor but still has a fair, colorless look and is clean to the naked eye. Someone who is an amateur and naive in gemology would have a hard time distinguishing between such stones and the top quality unless they’re put on one. The best value diamond can also increase the cost of the diamond ring.
For instance, a 1ct. diamond with S12 clarity, J color, and a very good cut can look white and transparent when you will have a look from the top of the diamond ring. It would nearly cost around $4,000–5,000. A diamond of similar weight but of the slightly better quality (H-1 color, Vs2, and S1 clarity) can be found for $5,000–7,000. An even better 1carat stone with G color and VS1 clarity can cost around $7,000–10,000.
Well, it is to think about whether it is worth to go that high or even higher on the quality scale, as you might never be able to notice a visible difference compared with stones of H-1 color and clarity in the VS2-S-11 range.
Here’s the current 2018 diamond pricing:
* A 0.5 Carat diamond is $1.500.
* A 1.0 carat diamond is $4,500–6,000.
* A 2.0 carat diamond is $18,000–21,000.
Photo Courtesy: www.michaelhill.com
What’s Wrong with the Industry Diamond Price Charts?
If there’s a whole chart about diamond prices, then why is it not that just used? Let’s take a look!!
It does not take a cut into account. The prices according to the rapport are only based on color, carat, and clarity. But they forget the cut. It’s a very important factor. It affects how brilliant the diamond appears and the price differs between different cut styles.
Different diamonds of the same grade can look very different. One S12 diamond can look completely transparent, while another has visible flaws. One D colored diamond can look completely clear, while another might look hazy because of strong fluorescence. Of course, the diamonds that have beautiful looks will be sold at a higher price.
The higher price Diamond
The price listed above is “the high asking price”. Retailers apply the discount. Some jewelers will show you the rapport pricing and convince you that you’re getting a good deal because they (diamonds) are available to you for less. If you’re not familiar with the right pricing, you can be fooled into believing that.
Don’t waste your hard-earned bucks, if you are not aware of the basics. You could be spending a tonne of money on features you cannot even appreciate.
Some of the most common mistakes are:
1. Purchasing a diamond too high in color and clarity thinking it will make the diamond shinier
2. Assuming that all the diamonds are cut the same and therefore a better color and clarity is what is needed.
3. Placing too high on a carat size and then having to sacrifice in other areas to stay within the budget, resulting in a dull, poor quality diamond.
Here is the quick cheat sheet for diamond buying
1. Just go below the 1 Carat mark for a big price drop such as 20%.
2. A color of H is the best value for diamonds, diamond sets in white gold or platinum bands.
3. Getting a yellow or rose gold setting will save you more because you can safely go down to a “J” diamond.
4. Look for a diamond lower in color grade with medium-strong fluorescence for a significant price drop and a whiter appearance at the same time.
5. Thus, picking up a diamond is a quite tedious task, but it can be a lot easier if you know the right tricks. It is a part of emotion and science as well.