Everything Diamonds, How to buy a diamond

Diamond Price Calculator: How to Calculate a Diamond’s Value

by Haley Anhut
Posted August 26, 2018

Last updated on December 22, 2021

Stunning and unique, diamonds are one of the most sought-after gemstones for fine jewelry. And while these stones may come from carbon atoms, they’re usually worth a pretty penny. Use a diamond price calculator to ensure you are getting the best value when buying a diamond engagement ring.

How to Calculate Diamond Prices

Interestingly, with every unique diamond, there’s a huge range when it comes to cost on a diamond price calculator.

A mined diamond around 1-carat can range anywhere from $1,500 to $10,000 (or more), and a round 1-carat lab diamond can range from $1,000 – $4,000. What largely determines the price of a diamond is its four C’s — carat, cut, color, and clarity. 

Here’s everything you need to know to help calculate diamond prices.

The 4 C’s

Carat

Carat refers to the actual weight of a diamond and is a unit of measure equal to 0.2gm. Size is a significant contributor to diamond pricing or price per carat for all diamonds. For example, a 3-carat diamond will have a higher price per carat than a one or two-carat diamond. The diamond price will increase exponentially as the carat weight increases. You will frequently see diamond prices measured in price per carat.

The diamond price will also differ from shape to shape, which we’ll review later on. For now, let’s look at the most popular (and expensive) cut diamond, the round. Round diamonds are more costly because of how they are cut. The more rough stone removed, the higher its diamond price will be.

More time and skill goes into creating a round diamond, and a round diamond will cost around 20% more than other diamond shapes, giving it a higher price per carat. Keep this in mind when searching for the best diamond prices.

Below we will compare the prices of round lab-grown diamonds from Clean Origin versus round mined diamonds from Brilliant Earth. The range looks at diamonds with a color grade of H or higher and a clarity grade of SI1 or better (as of 8/5/2020). As you can see, the price per carat goes up significantly between a 2-carat diamond, a 2.5-carat diamond, and a 3-carat diamond. As you go up in carat weight, you will see this trend continue, with the price per carat going up significantly when looking at a larger carat diamond.

Clean Origin Lab Grown Diamonds vs. Mined Diamonds 

Diamond Carat WeightClean Origin (Lab-Grown)Brilliant Earth (mined) Brilliant Earth (lab-grown)
.50 carat$690.00 – $780.00$1,170.00 – $3,910.00$500.00 – $1,350.00
1.0 carat$1,375.00 – $3,240.00$3,470.00 – $18,340.00$1,510.00 – $4,080.00
1.5 carat$2,130.00 – $5,589.00$8,240.00 – $21,370.00$2,870.00 – $9,190.00
2.0 carat$4,400.00 – $8,280.00$13,380.00 – $37,560.00$4,620.00 – $15,010.00
2.5 carat$6,563.00 – $7,613.00$23,660.00 – $40,170.00$6,600.00 – $16,220.00
3.0 carat$9,364.00 – $16,695.00$36,660.00 – $56,960.00$10,730.00 – $18,540.00

As you can see, there is a vast difference in the diamond price from carat to carat, within a carat size, and when you compare lab vs. mined diamonds. A diamond with the highest price tag will almost always have the highest grade for clarity and cut and, of course, a higher price per carat.

Cut

The cut is the most important of the 4 Cs and will have the most significant impact on a diamond’s appearance and diamond price per carat on the diamond price calculator.

Diamond cut refers to how effectively light that enters the stone is refracted within and reflected back out. A skilled artisan will map out and cut each diamond, determining its brilliance and fire. The amount of skilled labor is a factor in the diamond price per carat. No matter what carat diamond you choose, the cut is what will make it sparkle,

How Cut Affects Diamond Prices

The more perfect the diamond’s symmetry, polish, and proportions, the more brilliance it will have. Cut grades, in descending order, include Ideal, Excellent, Very Good, and Good. Only round diamonds are graded on their cut, while fancy shapes like a princess and emerald-shaped diamonds do not receive a grade.

Clean Origin also offers some round diamonds in the “Hearts and Arrows” style of cut. These diamonds feature a precise cut and maximum brilliance. These diamonds are rarer — making up less than 1% of all the diamonds in the world — and are therefore more expensive.  This is reflected in the diamond price calculator.

Color

Diamond color refers to the absence of color present in a particular stone. The color of a diamond is graded on a scale starting at D ranging down to Z. With D diamonds being colorless and Z diamonds having a yellow color. If you choose the right setting, the yellow color might not be as noticeable, and you can save money for a larger carat diamond.

How Color Affects Diamond Prices

While color can affect the price of a diamond using a diamond price calculator. In reality, there’s no reason to overpay for color. The difference between two different color grades can look identical color-wise and will help you cut down on price.

Below we’ve compared a 2-carat diamond that is round, very good cut, VS2 clarity diamonds with different color grades (as of 8/5/2020).

G, H, and I color-graded diamonds are all considered “near-colorless,” and most people see little difference in these grades, especially when your diamond is mounted in a white gold or platinum setting

Color GradePrice *Lab-Grown Diamond
I$5,275.00
H$6,066.00
G$7,121.00

As you can see, the diamond price calculator price differs greatly solely based on their color grades. There is quite a big difference between the three different diamond prices.

Should You Care About Color?

How much emphasis you put on color will also depend on the shape you’ve chosen. The body color of a diamond is likely to be more apparent in shapes with less depth or faceting, such as emerald-cut diamonds.

Round brilliant diamonds, especially with “Good” or better-cut grades, offer more fire and scintillation. This makes any lack of color obvious when mounted.

Remember, no matter what the color grade is, if the diamond looks good to you, then it’ll be a perfect choice. If you go will a slightly lower color grade diamond, you may go up in carat weight, as the price per carat will be lower.

Clarity

Clarity is another important factor in determining a diamond’s price on the diamond price calculator.

Diamond clarity measures the incidence of natural inclusions or imperfections found in a stone. Ranging from Flawless (FL) all the way down to Included (I1, I2, I3).

Clean Origin only sells diamonds above an SI2 rating. Sometimes jewelers use the term “eye clean” to describe a diamond’s apparent absence of flaws. This means that there are no visible blemishes to the naked eye. Going with an eye-clean diamond may help you afford a diamond of a higher carat weight as it brings down the price per carat without sacrificing much in the way of quality.

How Clarity Affects Diamond Prices

The higher the clarity (flawless, internally flawless being the highest), the higher the diamond price.

Look for a diamond that is “eye clean,” meaning any inclusions cannot be seen with the naked eye. Again, you may be able to go for a higher carat weight if you can compromise on clarity. Also, blemishes and inclusions will be more visible on a larger diamond, so it is less of a concern on a 1-carat diamond than a 2-carat diamond or a 3-carat diamond.

To Get the Best Diamond Prices, We Recommend These Guidelines:

Round cut diamonds:

Anything smaller than a 1-carat diamond, VS2, or SI1 will look “eye clean.” Anything over a 1 carat diamond, VS1 or VS2 will look “eye clean.” 

Emerald and Asscher cut diamonds:

Choose a clarity rating of VS2 or better to avoid visible imperfections. On these fancy cuts, the price per carat tends to be lower than a coveted round-cut diamond.

Princess, Radiant, Pear, Cushion, and Marquise cut diamonds:

Choose SI1 or SI2. These fancy-shaped diamonds hide imperfections better than most. All the more reason to get that larger carat weight when going with a fancy cut diamond.

Diamond Price By Shape

Diamonds come in various sizes, but they also come in many different shapes. The most popular shapes are round, cushion, oval, princess, pear, and emerald.

However, you can also find more unique shapes like Asscher, heart, radiant, and marquise. The most popular shape for an engagement ring is the round brilliant.

How Shape Affects Diamond Prices

Diamond pricing will differ on the diamond price calculator depending on the shape. A 1-carat diamond in a round cut will not cost the same as a 1 carat diamond in an emerald cut with the same cut, clarity, and color.

Below we’ve compared the most popular diamond shapes, all at 1 carat with an H color grade or higher and clarity of VS2 or better, to show you how the price will differ (as of 8/5/2020). Remember, only round diamonds are graded on their cut. All other fancy shapes do not have a cut grade. 

Carat WeightDiamond ShapePrice
1.0 caratRound$1,485.00 – $3,240.00
1.0 caratCushion$2,200.00 – 2,267.00 * 1.02 and 1.01 carat
1.0 caratOval$1,782.00 – $2,550.00
1.0 caratPrincess$2,100 – $2,300.00
1.0 caratEmerald$1,782.00 – $2,244.00
1.0 caratPear$1,980.00 – $2,100.00

*Lab-grown diamond prices from Clean Origin.

Rapaport Price List

The Rapaport Price List, or “Rap List,” is used as part of the diamond price calculator for diamond dealers and buyers as a guideline when evaluating diamond prices. The list is released weekly, with the prices listed in hundreds. Remember, this isn’t the final say in price. This list is only for mined diamonds. 

Diamond Certification

If you’re spending more than $1,000 on a diamond, it should come with a diamond certification. Every Clean Origin loose diamond or engagement ring comes with a diamond certification, using the same scientific rigor applied to mined diamonds. This will give you confidence in the diamond pricing as you move along your buying journey.

Why Buy a Certified Diamond?

Buying GIA-certified diamonds will give you peace of mind that the diamond you bought matches its displayed qualifications. 

Pro Tips To Save on a Diamond

Buy A Diamond Slightly Below the Next Full Carat

Another trick to saving money with the diamond price calculator is by choosing a diamond that is just slightly under a full carat size. 2 carats vs. 1.8 carats will not only be cheaper, but the size difference is so small that you’re unlikely to notice the difference.

Luckily, carat size doesn’t have to be the first thing on the budget chopping block! There are still a few other tips to help shave off costs without shaving down your diamond. 

Choose Lab-Grown

The only difference between a mined and lab-grown diamond is its origin. A lab-created diamond is “grown” inside a lab replicating the natural growing process.

Because lab-created diamonds remove the mining process, creating a shorter supply chain, lab-grown diamonds are 20-40% less expensive. This will allow one to purchase a larger or better cut diamond within the same budget. 

Get A Halo Setting

The trendy halo setting is perfect for anyone looking to make a statement. Halo settings are ideal if you’re looking to save on the center stone but still want that wow factor.

The smaller diamonds surrounding your center stone will make the diamond appear larger without spending more on increasing the ring’s carat weight when it comes to the diamond price calculator. 

Consider Fancy Cut Diamonds

Consider a fancy-shaped diamond if you’re looking to save on your diamond. They are typically less expensive than a round brilliant diamond because less of the rough diamond is cut away during the shaping process.

What is a fancy diamond?

Anything other than a round diamond! This includes emerald, oval, cushion, Asscher, pear, heart, radiant, and princess. Remember that a round brilliant diamond will always be the most expensive. When cutting fancy shapes, less diamond is cut off. This leads to better diamond prices per carat.

Another benefit of fancy-shaped diamonds is that they often appear larger than round diamonds. For example, a 1-carat oval will look bigger than a 1 carat round. Oval, emerald, and pear-shaped diamonds appear larger because of their elongated shapes.

Clean Origin Certified Quality Diamonds

Whether you are trying to find an engagement ring, a unique wedding band, or any other kind of diamond jewelry, Clean Origin’s lab-created diamonds can offer you the highest quality stones at a fraction of the price of mined diamonds. With a founder that has been in the jewelry business for three generations, we have the experience and expertise to help you find not only the best quality diamonds but to provide you with nothing less than the kind of jewelry that is exactly what you want.