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How much does a diamond cost?

Diamonds are the most prized gemstones in the world of jewelry, and we are often asked "How much does a diamond cost? In reality, answering this question is more complicated than it seems. It is difficult to give an exact price without knowing the characteristics of the diamond. The price of a diamond can vary from a few dollars to millions of dollars. However, there are certain factors and characteristics that influence the price of a diamond. In this article, we will discuss these characteristics and how they impact the price.

White gold ring with lab grown diamonds.

Let's first talk about the 4Cs of diamond; an international classification system specific to diamonds that allows them to be categorized. Once classified, we can quickly determine their approximate value. The 4Cs stand for "Cut", "Color", "Clarity", and "Carat".

Cut is the first characteristic to consider when it comes to diamonds. It does not refer to the shape of the stone, but rather to how it has been cut and the angles of the facets. Cut is very important because it determines the brilliance and sparkle of the diamond. Diamonds with an excellent, very good, good, or poor cut are classified accordingly. A diamond with a poor cut, even if it is of good quality and large size, will not sparkle as much and thus have a lower value.

Comparison of diamond cuts and their effect on brilliance. Source: GIA.

Color is the second key characteristic of a diamond. Diamonds are classified according to an alphabet letter system ranging from D (colorless) to Z (yellow or brown tint). Colorless diamonds (DEF) are the most sought after because they are rarer than diamonds with a yellow or brown tint. The color directly influences the price of a diamond, with colorless diamonds being the most expensive.

Comparison of diamond colors. Source: GIA.

Clarity is the third characteristic to consider when it comes to diamonds. It refers to the presence of small inclusions or flaws in the stone. Diamonds are classified on a scale ranging from FL (flawless - no inclusions visible under 10x magnification) to I (included - obvious inclusions visible to the naked eye). Diamonds with higher clarity grades are rarer and therefore more expensive than those with more obvious inclusions. However, it is important to note that the difference in clarity between diamonds in the VS (very small inclusions) to VVS (very, very small inclusions) to FL range may not be visible to the naked eye, but can result in a significant difference in price.

Carat is the fourth characteristic to consider. It refers to the weight of the stone and is the primary measurement used for diamonds. Diamonds are measured in carats, with 1 carat equivalent to 0.2 grams. The whole carat is divided into 100 points. When referring to a diamond of "50 points," it actually means 50/100 of a carat. The heavier the diamond, the more expensive it is. The price per carat of a diamond also increases at certain thresholds, so a one-carat diamond can be much more expensive than two 0.5-carat diamonds, even if they have similar quality.

Comparison of diamond sizes. Source: GIA.

There are also other factors to take into account, such as fluorescence, bright or dark color, special cut, and origin. Canadian diamonds, for example, may be more expensive than a similar diamond from India. The fact that a diamond has a certificate can also have an impact on the price; those sold without one may be a bit more affordable. For diamonds of 1 ct and larger, it is best to choose a diamond with a certificate.

Ultimately, it's impossible to give a single answer to the question "how much does a diamond cost", because there are so many factors that come into play. However, by understanding the characteristics that influence the price, you can make an informed decision about purchasing a high-quality diamond that meets your needs and budget.

Also, check out our video on the same topic:

As jewelers specializing in custom-made and jewelry transformation, we are happy to answer any questions you may have on the subject. Please don't hesitate to contact us for more information on our repair, resizing, or refurbishing services. Thank you for your attention, and we hope to hear from you soon!

Marie-Claude Déarie, jeweller.

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