Buying a diamond is no easy feat. It can be incredibly confusing, which is why it’s important to do your research and ensure that your understanding of a diamond’s value is watertight. After all, there’s nothing more frustrating than finding two diamonds that look near-identical, but yet, for some reason, they have very different price tags that you can’t explain.
Before we jump into the ins and outs of diamond pricing, we need to mention how important certification is. If you’re looking to spend thousands on a diamond, you want to be sure that you’re getting your money’s worth. Certificates are one way that you can do this, specifically those from GIA and AGS labs – the top tier for the diamond industry.
Now, let’s get to it. When it comes to determining a diamond’s value, there are four main factors to consider; the colour, cut, clarity and carat.
Diamonds are priced per carat and not only that, but the price per carat jumps up dramatically once you enter higher weight categories. This is one reason why there are many misconceptions surrounding the value of the carat of a diamond. It isn’t the most valuable factor, but heavily influences the price.
Diamond prices aren’t always logical and reasonable, there’s a lot of emotion behind them. For instance, a 0.99 carat would only be worth 1% more than that of a 0.98 carat, but once you reach that 1-carat threshold, the price can jump up by 20%. To help, you may want to refer to a diamond price chart online as a consistent guide throughout your diamond shopping journey.
So how do other factors come in? Good question. Due to the high price differences in carat categories, many diamond companies will ensure diamonds are not cut in a way that will lower their carat category. However, this means that the diamonds are not being cut to fully maximise their brilliance. What would you rather? A heavy diamond or one that looks incredible? The incredible one, right? Well, heavier diamonds can cost more than better cut ones.
Aside from that, colour and clarity are quite influential when determining the value of a diamond. There are many categories when deciding the clarity of the diamond. However, it’s not always known that when it comes to the top tier of diamond clarity, the price difference might differ exponentially, but the inclusions that might place a diamond as a VS2 won’t be visible to the naked eye.
There are so many factors to consider, some of which may raise the price of a diamond significantly, and however it doesn’t mean the diamond is a better stone so make sure to browse other shops. It won’t surprise you to know that certain brands add a certain premium on their diamond prices just for their brand name. So, before you leap, make sure you’ve explored your options so you can make an informed and comfortable decision when it comes to purchasing.