Stunning and unique, diamonds are certainly one of the most sought-after gemstones for fine jewelry. Diamonds are extremely rare and beautiful, making them more expensive than other gemstones and precious metals. A diamond is forever, but how do we know if a diamond’s price is fair? Using a diamond price calculator can ensure that 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.
A mined diamond around one carat can range anywhere from $1,500 to $10,000 (or more), while a round 1-carat lab diamond can range from $1,000 – $4,000. However, what largely determines the price of a diamond is its 4Cs — carat, cut, color, and clarity.
Here’s everything you need to know in order to calculate diamond prices. Keep in mind that if you do use an online diamond calculator tool, the exact cost of any stone may differ slightly from the original diamond price calculator result.
Understand the 4Cs to Calculate Diamond Price
Carat refers to the actual weight of a diamond and is a unit of measure equal to 0.2g. Size is without a doubt a significant contributor to diamond pricing and 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. In fact, the diamond price will increase exponentially as the carat weight increases. You will frequently see the price of a diamond measured in price per carat.
The diamond price will also differ from shape to shape, which we’ll review later on. But first, let’s look at the most popular (and expensive) diamond cut, the round diamond. Round diamonds have a higher price because of how they are cut. The more rough stone removed, the higher the price estimate will be.
More time and skill go into creating a round diamond. This means that 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 to round mined diamonds from Brilliant Earth. The chart looks at diamonds with a color grade of H or higher and a clarity grade of SI1 or better (as of 6/20/2022). 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 Diamond Price vs. Mined Diamonds
|Diamond Carat Weight||Clean Origin (Lab-Grown)||Brilliant Earth (mined)||Brilliant Earth (lab-grown)|
|.50 carat||$535.00 – $950.00||$1,230.00 – $3,060.00||$550.00 – $1,150.00|
|1.0 carat||$950.00 – $6,070.00||$3,520.00 – $7,700.00||$1,260.00 – $6,320.00|
|1.5 carat||$1,730.00 – $7,350.00||$9,710.00 – $15,030.00||$2,370.00 – $7,070.00|
|2.0 carat||$2,080.00 – $5,500.00||$19,190.00 – $24,730.00||$3,490.00 – $64,110.00|
|2.5 carat||$2,785.00 – $8,600.00||$23,660.00 – $40,170.00||$5,730.00 – $17,680.00|
|3.0 carat||$5,470.00 – $9,600.00||$36,660.00 – $56,960.00||$7,600 – $26,560.00|
*Prices vary based on carat, cut, color, and clarity.
As you can see, there is a vast difference in the diamond price from carat to carat, within a carat size, and between lab vs. mined diamonds. A diamond with the highest price tag will almost always have the highest grades for clarity and cut quality and, of course, a higher price per carat.
Cut is the most important of the 4Cs and will have the most significant impact on both a diamond’s appearance and its price per carat on the diamond value calculator.
Diamond cut refers to how effectively light that enters the stone is refracted within it and reflected back out. A skilled artisan will map out and cut each diamond in order to define its brilliance and fire. This labor is a factor in the diamond price per carat. However, 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 are, the more brilliance it will have. Cut grades, in descending order, include Ideal, Excellent, Very Good, and Good. Diamond price will be highest with an Ideal cut grade and lowest with a Good cut grade. Only round diamonds are graded on their cut, while fancy shapes like princess-cut 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. They are also rarer — making up less than 1% of all the diamonds in the world — making them more expensive. This is reflected in the diamond calculator for price.
Diamond color refers to the absence of color in a particular stone. The color of a diamond is graded on a scale starting at D and ending at 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 also save money for a larger carat diamond.
How Color Affects Diamond Prices
You’ll notice that color can affect estimates on a diamond price calculator, but in reality, there’s no reason to overpay for color. This is because differences between two different color grades can look identical color-wise and will help you cut down on price.
Below, we’ve compared 2-carat diamonds with different color grades that are all round, have Very Good cuts, and have VS2 clarity grades (as of 6/20/2022).
G, H, and I color-graded diamonds are all considered “Near Colorless.” Most people see little difference between these grades, especially when the diamond is mounted in a white gold or platinum setting.
|Color Grade||Price *Lab Grown Diamond|
*Lab grown diamond prices from Clean Origin.
As you can see, the diamond price calculator price changes a lot depending on color grades. There’s 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 ones with “Good” or better cut grades, offer more fire and scintillation. This makes any lack of color obvious when mounted. If you don’t want to see any yellow tones in your round brilliant diamond, consider going with a lower cut grade or a different shape.
Remember, no matter what the color grade is, if the diamond looks good to you, then it really is the perfect diamond. If you go with a slightly lower color grade diamond, you may go up in carat weight, because the diamond price per carat will be lower.
The diamond clarity grade is another important factor in determining a stone’s value on the diamond price calculator. Diamond clarity measures the incidence of natural inclusions or imperfections found in a stone, and it ranges from Flawless (FL) all the way down to Included (I1, I2, I3). Clean Origin only sells diamonds above an SI2 rating. For more information on diamond clarity, refer to this chart.
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 because it brings down the price per carat without sacrificing much in the way of quality.
How Diamond Clarity Affects Diamond Prices
The higher the diamond clarity (Flawless, with 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, but you’d likely have to 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 in a 2-carat diamond or a 3-carat diamond.
To Get the Best Diamond Price, We Recommend These Guidelines for Your Calculations
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.” Remember that round-cut diamonds have the highest diamond price per carat of all diamond shapes.
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 that of 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.
Calculate Diamond Price By Shape
How Shape Factors Into Diamond Price Calculation
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, even though they have the same cut, color, and clarity grade.
Below, we’ve compared the most popular diamond shapes, all being 1-carat stones with an H color grade or higher and a clarity of VS2 or better, to show you how the price will differ (as of 6/20/2022). Remember, only round diamonds are graded on their cut. All other fancy shapes do not have a cut grade.
|Carat Weight||Diamond Shape||Price|
|1.0 carat||Round||$1,150.00 – $6,000.00|
|1.0 carat||Cushion||$1,000.00 – 1,870.00|
|1.0 carat||Oval||$1,380.00 – $2,120.00|
|1.0 carat||Princess||$1,200.00 – $2,020.00|
|1.0 carat||Emerald||$1,030.00 – $1,900.00|
|1.0 carat||Pear||$1,020.00 – $2,030.00|
*Lab grown diamond prices from Clean Origin.
Calculate Diamond Price with the 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 and has prices listed in USD per carat. However, this isn’t the final say in price. This list is only for natural diamonds, so it will not reflect the prices of our lab grown diamonds.
Diamond Certification And Diamond Price Calculation
If you’re spending more than $1,000 on a diamond, then it should come with a diamond certification. Every Clean Origin loose diamond or engagement ring comes with its own 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?
When you buy a GIA-certified diamond, you will have peace of mind that the diamond you bought matches its displayed qualifications. Grading reports from reputable organizations are important in ensuring quality standards across the diamond industry, and you can always be sure that you’re getting what you pay for with IGI, GCAL, or GIA certified diamonds. Think of it as your personal guarantee that you received a fair price and a quality diamond ring.
Pro Tips to Save on a Diamond
Buy a Diamond Slightly Below the Next Full Carat
Another trick to saving money 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 though, carat size doesn’t have to be the first thing on the budget chopping block! There are other ways to shave off a few hundred dollars or more without shaving down your diamond.
Choose A Lab Grown Diamond
The only difference between a mined and lab grown diamond is its origin. A lab-created diamond is “grown” inside a lab in a way that replicates 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 allows you to purchase a larger or better-cut diamond for the price of a smaller mined diamond.
Get a Halo Setting
The trendy halo setting is perfect for anyone looking to make a statement with their diamond jewelry. 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 central diamond appear larger without your needing to spend more for a higher carat weight.
Consider Fancy Cut Diamonds
A fancy-shaped diamond can also be a great option if you’re looking to save on your diamond. These 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?
A fancy diamond is anything other than a round diamond! This includes cuts like emerald, oval, cushion, Asscher, pear, heart, radiant, and princess. But remember, a round brilliant diamond will always be the most expensive.
Another benefit of fancy-shaped diamonds is that they often appear larger than round diamonds. For example, a 1-carat oval diamond will look bigger than a 1-carat round diamond. Oval, emerald, and pear-shaped diamonds appear larger because of their elongated shapes.
Clean Origin Certified Quality Diamonds
Whether you’re looking for an engagement ring, a unique wedding band, or any other kind of diamond jewelry, Clean Origin’s lab-created diamonds 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 not only help you find the best quality diamonds and best lab diamond pricing, but also to provide you with nothing less than the kind of jewelry that is exactly what you want. Check out our wide selection of lab grown diamonds made just for you.