ESTIMATE FOR THE PURCHASE OF A DIAMOND
Learn how to calculate diamond prices so you don't get scammed and overpaid for a diamond when you make a purchase.
BASIC RULES: THE THREE STEPS TO BUY A DIAMOND
Below we will go into the smallest details that determine the price of a specific diamond.
It is important to understand this so that you can determine what is important to you when making this purchase.
A beautiful 1.00ct G VS1 diamond and compare it to a 1.02ct E VVS2 diamond.
Can you see a difference between the two? you can't, but we can see a price difference of 1,600 Euro (20%) more expensive for the color diamond E and quality VVS2.
When you discuss pricing and what a fair deal is, you need to know what you want and how to be sure you get what you pay for.
You have to make sure that you follow the process to make sure you don't get scammed.
It is difficult to know how much you should spend on a diamond.
Finding the best value for money is just as difficult.
1) Certification - This is the most important step.
It is an absolute must if you spend more than 1000 Euro for a diamond.
The goal of buying a diamond with a certificate is to have the peace of mind that you are really getting the diamond you want.
The only certificates issued come from GIA, HRD, IGI and CGL laboratories
They are the gold standards for the diamond industry.
2) Quality - Now that we know which certificates to use, we need to understand all of the qualities listed on the certificate and what to do with this information.
You may have heard of the four Cs of diamonds: Color, Clarity (quality), Size and Carat.
We will use color as an example.
If you decide to choose an elegant solitaire, you can focus on the color J to maximize the value. But if you opt for a more elaborate halo setting, you will have to stick to the color H or better.
We understand that it becomes a little confusing to try to balance the different proportions and qualities of diamonds.
If you prefer a more personal help guiding you through the qualities, do not hesitate to contact us.
3) Price - We get to the heart of the matter, but the simplest way to determine the price is the same as for anything else.
Compare the prices ! A store will always be more expensive than what you can find online, but determine the right baseline and then you can decide if it's worth paying an "X" premium for the added value you expect to get from the store.
The price of diamonds can vary enormously depending on the shape, cut quality, clarity and color of a diamond. For example, the cost of a one-carat diamond can range from as little as 1,500 Euro to over 16,000 Euro for an extremely well-cut high quality diamond, while a two-carat diamond could cost as little as 6,000 Euro up to 80,000 Euro depending on its shape, cut, clarity and color nuances.
As you can see, this is a huge range, with some diamonds costing up to 10 times more than other diamonds of the same carat weight.
Diamond prices depend on such a wide range of factors that it is very difficult to give an accurate estimate of the price of "diamonds" as a whole.
The largest of these are the four Cs, which we briefly mentioned earlier - cut quality, clarity, color and carat weight.
The better the four C's of a diamond (or, in the case of carat weight, the higher they are), the more expensive it will be.
In short, the better the quality of a diamond, the more you will have to pay to buy it.
Now, that doesn't mean you can't get a good quality diamond without paying a fortune. With diamonds, the key is to maximize the amount you spend on the factors that affect the appearance of the diamond, while minimizing the amount you spend on the factors that don't.
CALCULATION OF THE DIAMOND PRICE PER CARAT:
Diamonds are all priced per carat.
Let's say that a 0.50 carat diamond has a price of 1400 Euro per carat.
The price of this diamond for the stone would be 1400 Euro * 0.50, or 700 Euro.
Or, let's say a 1 carat diamond has a price of 4,100 Euro per carat, This is easy to calculate - since the diamond is 1 carat, the price of the stone is exactly the same - 4,100 Euro.
Diamond prices per carat increase as you move to higher weight categories.
In short, the higher the carat weight of the diamond, the higher the total amount you will have to pay per carat to buy the diamond.
Therefore, diamond prices increase exponentially with weight, as their prices increase both due to the increase in weight and due to the higher carat price for the increased weight category.
PRICE OF 1 CARAT
The price of a 1 carat diamond is between 1,300 Euro and 16,500 Euro, depending on factors such as the quality of cut, clarity, color and shape of the diamond.
Below we have listed the average price ranges for 1 carat diamonds in the 10 most common shapes.
As above, we have limited our search to diamonds with a clarity level of SI2 or higher and a color degree of K or higher.
There are also amounts in brackets for diamonds in the same category, but with recommendable parameters to provide price data that interests you as a buyer.
2,500 to 16,500 Euro for a round and brilliant cut diamond
1,600 to 11,000 Euro for a princess cut diamond
1,600 to 9,500 Euro for a cushion cut diamond
1,600 to 10,500 Euro for an emerald cut diamond
1,600 to 10,000 Euro for an oval cut diamond
1,300 to 7,000 Euro for a radiant cut diamond
1,800 to 6,900 Euro for an asscher cut diamond
1,700 to 10,000 Euro for a marquise cut diamond
1,700 to 12,000 Euro for a heart-cut diamond
1,700 to 11,400 Euro for a pear / drop cut diamond
PRICE OF 2 CARATS
The price of a 2 carat diamond varies from 6,500 Euro to 55,000 Euro, depending on the quality of cut, clarity, color and shape of the diamond.
Below we have listed the average price range of 2 carat diamonds in the most common cuts and shapes.
As above, our price ranges use a minimum color shade of K and a minimum clarity of SI2, which limits most diamonds that are not aesthetic enough to be taken into account.
And there are also prices in brackets which indicate the minimum for diamonds with the recommended specifications:
7400 to 55000 Euro for a brilliant and round cut diamond
6 200 to 31 500 Euro for a princess cut diamond
5600 to 28300 Euro for a cushion cut diamond
5700 to 33270 Euro for an emerald cut diamond
7 200 to 33 000 Euro for an oval cut diamond
6500 to 29500 Euro for a radiant cut diamond
7700 to 35700 Euro for an asscher cut diamond
9 400 to 36 900 Euro for a marquise cut diamond
7,600 to 33,800 Euro for a heart-cut diamond
7400 to 42400 Euro for a pear / drop cut diamond
HOW TO SAVE MONEY BY PURCHASING A DIAMOND
As you have probably noticed, the price ranges we have listed above for different diamond shapes and carat weights are very large.
For example, a brilliant 2 carat round diamond can cost more than 50,000 Euro, or as little as 7,400 Euro.
Saving money when buying a diamond involves finding the intersection where the quality of a diamond and its value for money intersect.
To do this, several steps are necessary.
The first is to recognize that diamonds are often priced based on their "grade" rather than an objective measure of their appearance or actual quality.
The second is to understand how the diamond cutting process affects the price at which a loose diamond can be sold.
The third is to learn how the nuances of color and clarity / quality of a diamond affect its price, as well as how the right choice of nuance and clarity can help you buy a beautiful diamond at the right price.
If you are still hesitant to navigate the diamond buying process alone, please do not hesitate to contact us and we will be happy to give you more personalized advice.