Diamond Prices Chart

The chart indexes below show diamond prices in the one to three-carat range. They reflect average wholesale and retail prices for GIA graded round diamonds based on carat weight, clarity, color, ideal cut, and no fluorescence. In the subsequent section, we have also provided estimates for other "fancy" shaped diamonds.

Like other commodities, a multitude of factors play into the pricing dynamics of polished diamonds. External forces such as shifting economic conditions and internal elements like profit margins and supply can cause fluctuations in diamond prices.

Compare the list prices against our TOP-RATED JEWELER'S prices.

First-Time Buyers Price Guide

For first-time buyers, the following quick diamond budget scenarios, accompanied by illustrative examples, are valuable tools for making a well-considered choice.

Building on our framework of how to prioritize the 4Cs, the table below illustrates three options for a buyer within a given budget. Option 1 shows the types of diamonds a shopper would buy if quality were the main criterion, Option 2 highlights both quality and optimal value, and Option 3 shows diamonds with the biggest carat weight and acceptable quality within a given budget.

Note: avoid fluorescence in high color grades and prioritize cut.

1 Carat Diamond Prices Chart

Considering the economic downturn and additional pressure from lab-grown diamonds, 1 carat natural diamonds in the SI/VS range below G color might be traded 5-10% below the chart prices. However, we believe this is a temporary demand-related issue, and we urge diamond buyers to take advantage of this opportunity if they are in the market for a diamond.

1.5 Carat Diamond Prices

1.5 carat diamonds are highly in demand among individuals shopping for a good quality diamond with an average budget. Aim for a well-cut G or above color and VS2 clarity diamond with no fluorescence in this range. However, if the budget is tight, consider the H or I range with medium blue fluorescence.

2 Carat Diamond Prices Chart

2 carat diamonds are premium quality and rare. As such, the prices of diamonds tend to be high for an average budget range. When shopping for a diamond in this range, aim to buy a high-quality diamond that will preserve its value over the long term.

3 Carat Diamond Prices Chart

Diamonds in the 3 carat and above range are extremely rare, especially gem-quality ones. As such, buy a well-cut, premium-grade stone in this range for the best value.

Price Calculation Criteria

Shoppers frequently wonder about the reasons behind a notable price difference between two seemingly identical diamonds. A potential diamond buyer could easily arrive at an ill-informed choice without critical pricing details and technical insights. To address this, the above price charts aim to assist buyers in approximating the price of a diamond within a specific range.

Because diamonds are among the most valuable gemstones in the world, learning how their prices are determined, who determines them, and why two identical diamonds might not have the same price tag is critically important. Having answers to these questions will set a pro apart from most buyers.

Even though an exact pricing formula cannot be applied to all diamonds, the above charts illustrate our best approximate prices. Because diamonds are natural gemstones with unique characteristics, each stone should be evaluated based on quality.

We have also shared the most important factors that influence the price of a diamond. Beyond the traditional 4Cs, we highlight the significance of fluorescence, certification, the visual aspects of a diamond, and the considerations surrounding purchasing diamonds through online platforms versus local establishments.

Price Criteria

The price chart index encompassing 1 carat, 1.5 carat, 2 carat , and 3 carat diamonds shall undergo periodic updates to accurately mirror the shifts in both retail and wholesale diamond prices.

As presented, the wholesale and retail price charts encapsulate Petra Gems' most refined average estimates, hinged upon comprehensive data derived from leading diamond suppliers and online retailers.

These price charts pertain specifically to round cut diamonds. For insights into calculating the prices of fancy-shaped diamonds, refer to our provided estimations below.

These prices exclusively pertain to diamonds possessing excellent cut quality, devoid of fluorescence, across all listed categories. Notably, these price considerations are applicable solely to diamonds graded by GIA and/or AGS.

As of February 2024, the most recent price approximations are calculated. Should substantial changes in diamond supply and demand precipitate, we are committed to refreshing the list every 4-5 months.

Recognizing that these price assessments are established upon conservative benchmarks is essential. Any retail price falling below these benchmarks should rightfully be deemed a remarkable bargain.

Please note that diamond prices have dropped significantly in 2023, and these changes are reflected in our charts to the best of our ability. However, to err on the side of caution, we still advise buyers to aim to purchase a diamond for up to 5% lower than the list prices. If buyers can acquire a diamond at such prices with an exceptional cut, a GIA grading report, and no fluorescence based on the 3Cs highlighted below, it should be considered an exceptional deal in today's market.

Fancy Cut Diamonds Prices

The estimates below highlight the price difference between the round diamonds highlighted in the above charts and their "fancy cut" counterparts. Round cut diamonds are typically priced higher compared to fancy cut diamonds because cutting a round cut requires a larger rough diamond than a fancy cut.

Oval cut diamonds are priced 2 to 10% lower than round diamonds.

Princess cut diamonds are priced 14 to 24% lower than round diamonds.

Cushion cut diamonds are priced 15 to 25% lower than round diamonds.

Radiant cut diamonds are priced 16 to 25% lower than round diamonds.

Emerald cut diamonds are priced 17 to 26% lower than round diamonds.

Pear cut diamonds are priced 5 to 10% lower than round diamonds.

Marquise cut diamonds are priced 15 to 22% lower than round diamonds.

Asscher cut diamonds are priced 15 to 25% lower than round diamonds.

The interplay of demand, supply, and surplus inventory on a global scale also exerts a significant influence on these pricing dynamics for each distinct diamond shape.

Rough Diamonds Prices

The market for uncut rough diamonds starkly contrasts that of polished and cut diamonds.

Primarily, key players such as De Beers, the prominent diamond conglomerate, alongside ALROSA and Rio Tinto, adopt a strategy of maintaining price stability by meticulously managing the availability of rough stones in the market at any given time. This careful control over supply serves to both anchor and ascertain the pricing dynamics of polished diamonds.

A noteworthy aspect to consider is that engagement in the rough diamond trade is conditional upon full adherence to the Kimberly Process, a vital framework established to curb the trade of conflict diamonds.

While De Beers does not exercise absolute control over the rough diamond market, its influence on rough diamond prices remains substantial. Initially responsible for approximately 85% of global rough diamond supply, De Beers' market share has tapered to 25-35%.

Within the realm of De Beers, their designated " Sight Holders " represent prominent diamond dealers entrusted with the task of cutting and distributing diamonds within the market. De Beers orchestrates ten such sights annually, where they unveil assorted assortments of rough diamonds to these sightholders. Each collection holds a substantial value, ranging between $1 million to $25 million. The esteemed designation of De Beers sight holder carries profound prestige within the intricate world of the diamond trade.

Polished Diamonds Prices

When priced, polished diamonds are classified into two categories: those priced against Rapaport’s Price List and those not priced against it.

The Rapaport Diamond Report of Polished Diamonds

The pricing mechanism for polished diamonds adheres to a standardized process prevalent within the industry. Multiple factors contribute to this pricing equation, focusing more on market demand than production costs.

Notably, Martin Rapaport, a prominent industry broker hailing from Belgium, and his adept team undertake the calculation of diamond prices. These calculated prices accurately reflect the prevailing market conditions and are made available on a weekly basis through the Rapaport Diamond Report, which caters to premium subscribers.

The crux of this report revolves around three essential factors that dictate the cost of polished diamonds, encompassing carat weight, color, and clarity - three of the 4Cs that form the foundational criteria for diamond assessment.

Within the confines of the Rapaport Report, the prices are delineated for a spectrum of diamond color and clarity combinations, with weights spanning from 0.01 to 5.99 carats. These Rap prices tend to lean towards the higher end of the spectrum and are predominantly employed as reference points by traders. While certain vendors adhere closely to the prices stipulated in the Rapaport Report, not all sellers strictly align with these figures.

How to use the RapNet Price List

RapNet stands as a jewelry trading network driven by the force of Rapaport. This network, the largest of its kind globally, extends its reach exclusively to premium members within the diamond and jewelry trade, earning its reputation as the most relied-upon entity in the industry.

The essence of RapNet lies in enabling direct interaction between buyers and sellers, all the while eliminating trading fees and commission charges. Through this platform, members gain direct access to a treasure trove of over 1,000,000 diamonds spanning diverse shapes, clarities, sizes, and hues. Priced at an annual membership fee of $699, RapNet provides an efficacious avenue for sourcing and vending diamonds, encapsulating the essence of a dynamic and mutually beneficial marketplace.

The RapNet Asking Price List

The RapNet Price List unveils the average and top asking prices within the RapNet Diamond Trading Network. This compilation pertains to specific diamond categories accessible for purchase across the global market. Moreover, prices outlined in the RapNet Asking Price List are for diamonds with a very good or higher cut quality, aligned with Rapaport specification-2, and graded by GIA.

The RapNet asking price serves as a designated listing intended for sale on a particular date. This comprehensive list systematically highlights discounts either surpassing or falling short of the standard Rapaport Price List, essentially encapsulating the dynamic interplay of pricing variations within this intricate market ecosystem.

How does the RapNet Asking Price List differ from the Rapaport Pricing List?

Conventionally, the Rapaport Price List introduces the High Cash Asking Price, serving as a foundational benchmark employed by the global diamond trade to establish a base value for approximating prices across an extensive spectrum of diamond sizes and qualities. Conversely, the RapNet Asking Price List delves into the tangible prices that sellers actually request for specific diamonds.

Notably, the RapNet Asking Prices List presents a comprehensive panorama of information encompassing discounts and premiums relative to the standard Rapaport Price List. It is intriguing to observe that the RapNet Asking Price List encompasses diverse diamond shapes and provides insight into the intricate landscape of discounts and premiums in relation to the broader market dynamics. In contrast, the Rapaport Pricing List confines itself to furnishing prices exclusively for round diamonds, underscoring the differentiation in scope and focus between the two lists.

How is the RapNet Asking Price List used?

To read and calculate the diamond price using the RapNet Asking Price List, it is essential to be familiar with the chart below.

2015 Sample of RapNet Best Average Asking Price (educational purposes)

The presented table is the exclusive RapNet Asking Price List, accessible solely to jewelers and dealers engaged in the industry.

At the topmost section of the table, buyers will find the delineation of diamond carat size ranges, followed closely by corresponding publication dates. Adjacent to these details are the prices attributed to each diamond, intricately intertwined with the available discounts, consistently denoting figures in the hundreds.

For instance, consider the entry of $12,100. This figure stands as the most favorable RapNet asking price for a diamond characterized as round-cut, possessing a D color grade, and exhibiting an internally flawless (IF) clarity within the carat range of 0.9 to 0.99.

It is paramount to retain the awareness that a substantial disparity exists between the Rapaport Price List and the RapNet Asking Price List, emphasizing the distinct functions and insights offered by each.

Discount and Premium Prices

The true complexity of determining diamond pricing lies in assessing the deviation – whether in the form of a discount or premium – from the Rap price. Frequently, diamond transactions transpire at a value below the stipulated Rap price, with two diamond dealers engaging in negotiations centered around the designated Rap discount threshold.

Nevertheless, as manifested in the Rap price, the trio of diamond quality components encompassed by the three Cs – carat, color, and clarity – establishes merely the foundational reference point. Beyond this, subjectivity comes into play. Factors such as a diamond's cut quality, fluorescence, and the type of inclusions within the stone are meticulously evaluated to ascertain the appropriate discounted Rap price.

In essence, the process of pricing diamonds transcends the confines of objective criteria and delves into a nuanced and intricate assessment of various subjective attributes, culminating in the determination of an adjusted Rap price that accurately reflects the diamond's distinctive characteristics.

The “20 Below,” or “20 Back,” Rule

To grasp this concept accurately, consider a diamond characterized by an exceptional cut, a clarity grading of SI1, and a color grade of H, all while being free of any fluorescence. Despite being categorized as an H, this diamond might share an indistinguishable visual appearance with a G-grade diamond. In the market, such a scenario translates into a potential trade price that is notably lower, often around -20% or even -15%, compared to the Rap price for an equivalent G grade diamond. This phenomenon within the diamond industry is colloquially referred to as "20 below" or "20 back."

In the dynamics of diamond negotiation, a dealer's inclination is often to negotiate for such a diamond at a "15 back" price, signifying a 15% discount below the Rap price. Conversely, a prospective diamond buyer's aspiration is to secure the diamond at a "20 below" price point, reflecting the anticipated 20% discount.

To calculate the actual price, a buyer must perform a simple subtraction, subtracting the specified "percentage back" from the Rap Price. This calculation unveils the price that aligns with the negotiated discount and precisely accounts for the distinctive characteristics and qualities of the diamond.

Sweet Spots of Value

While perusing the Rapaport Price List, buyers will discern that the prices between adjacent values within each matrix are not uniform.

To illustrate, consider the disparity in price between a 1 carat diamond characterized by VS2 clarity and color grade H as opposed to a 1 carat diamond with VS2 clarity and color grade G. This variance amounts to $1,000. However, the distinction in price between a 1 carat diamond boasting G color and VS2 clarity compared to another 1 carat diamond sharing the same attributes of G color and VS2 clarity is a mere $500.

In the realm of diamond pricing, the foundation rarely rests upon an exclusively logical rationale; the pricing process tends to be infused with emotional elements.

To navigate these intricate disparities, a prudent buyer should actively seek the guidance of an experienced diamond dealer. Relying on the insights of such an expert proves invaluable in pinpointing the advantageous positions within the pricing grid. Such assistance is particularly essential because it empowers the buyer to gauge whether the price differential justifies an upgrade from an H color and VS2 clarity diamond to a G color and VS2 clarity diamond. This nuanced analysis helps buyers make informed decisions and extract optimal value from their diamond investments.

The Impact of Rap Prices

Rap prices play a pivotal role in curbing the manipulation of diamond prices, offering reassurance to potential buyers. Prior to the establishment of standardized diamond prices by Rapaport, various methods were employed within the industry to gauge a diamond's value, leading to a lack of uniformity and consistency.

In the initial decades following the introduction of Rap Prices, certain dealers continued to sell diamonds at prices surpassing those indicated on the charts. However, over time, as the Rap pricing system gained widespread traction, a substantial majority of retailers began to realize the significance of adhering more diligently to Rap prices.

This transition towards acknowledging and embracing Rap prices underscores the growing recognition of the stability and transparency this pricing framework imparts to the diamond market. This development fosters a more reliable and coherent pricing landscape for individuals seeking to purchase diamonds, thus nurturing heightened levels of trust and confidence in their transactions.

Constraints of the Rapaport Price System

The Rapaport Price system primarily concentrates on factors such as color, clarity, and carat, as assessed by GIA, assuming an excellent cut grade. However, it omits considerations of polish and symmetry. Moreover, it does not account for the varying appearances of diamonds of the same grade.

The visual appeal of a diamond significantly influences its price. A diamond with an F color grade may exude exceptional brilliance, while another diamond of the same color might appear less brilliant due to strong fluorescence. Similarly, one SI2 diamond could exhibit flawless visual clarity, whereas an adjacent SI2 diamond might display noticeable imperfections.

Understanding the Elevated Rapaport List Price

Rapaport explicitly states that their list price represents the highest asking price, a factor exploited by many retailers who commonly apply discounts to the Rap prices. Certain diamond dealers even share the Rapaport sheet with customers to convey the impression of a fair deal, showcasing how they have priced the diamond below the listed figure.

A Deeper Dive into Calculating Diamond Prices

To make the most informed choice and secure optimal value, carefully review the following pivotal factors that influence the price of a diamond.

While all diamond buyers will inevitably encounter the 4Cs – encompassing carat weight, cut quality, color grade, and clarity grade – what is often not widely known is that beneath these surface aspects lie subdivisions, nuanced judgments, and variations that diamond dealers do not commonly address. Even Rapaport's diamond price report does not delve into these finer intricacies within its pricing data.

Undoubtedly, the 4Cs stand as the determinants of a diamond's cost. The extent to which a diamond exhibits qualities like colorlessness and flawlessness directly correlates with its enhanced value.

Valuable Insight: Buyers can make budget-conscious choices by focusing on quality factors like color and clarity. These factors often remain imperceptible to the naked eye. Typically, most shoppers seek a diamond that appears visually clean and colorless, striking a balance that is both appealing and economically prudent.

Carat

Carat weight wields a substantial impact on a diamond's price. The price of a diamond correlates directly with its carat weight. In essence, the cost of a diamond elevates significantly as its carat weight increases. For instance, a 0.5 carat diamond theoretically costs twice as much as a 0.4 carat diamond, and a parallel trend emerges between 0.75 and 1 carat diamonds. The pricing of larger diamonds reflects their scarcity, a factor that inherently drives their value.

Notably, buyers will observe that the most pronounced shifts in price transpire at increments of half a carat and full carat points. Delving into the nuances of pricing, opting for a diamond just slightly beneath a whole number – such as choosing a 0.9 carat instead of a 1.0 carat – emerges as a strategic avenue for those operating within budget constraints. This approach enables buyers to secure a larger-looking diamond without surpassing the budgetary limits imposed by crossing the full-carat threshold.

Calculating the Price Per Carat

The price per carat exhibits an escalating trend as the diamond's weight and quality increase. For instance, if a one-carat diamond commands a price of $3,500, a diamond weighing 0.5 carats would amount to $1,250.

However, it is critical for buyers to factor in the remaining three Cs of a diamond – color, clarity, and cut. Furthermore, the consideration of different diamond shapes is also pivotal as they vary in pricing.

To make an accurate assessment, buyers should compare diamonds bearing the same grading report or "certificate" while accounting for consistency in clarity, fluorescence, cut, and color. Additionally, a comprehensive inspection of a diamond's physical appearance becomes essential, revealing subtleties like tints, external imperfections, and haziness.

An interesting fact to remember is that emotions rather than rationality frequently influence diamond purchases more. For instance, a 0.99 carat diamond costs just 1% more than a 0.98 carat diamond. However, a 1.00 carat diamond commands a price that is often 8-10% higher than a comparable 0.99 carat diamond solely due to its designation as a full carat weight diamond.

Considering the rapid escalation of diamond prices with increasing carat weight, most diamond cutters feel compelled to cut a gem that reaches a whole number of carats. Regrettably, this focus on achieving a full carat weight often comes at the expense of maximizing brilliance, potentially leading to suboptimal cut quality.

Cut

The most crucial "C" to emphasize when evaluating a diamond is its cut.

The cut of a diamond governs its scintillation, fire, sparkle, and overall brilliance. An ideal cut has the power to create flashes that cleverly obscure inclusions and mask undesirable color tints, effectively elevating an average diamond to the appearance of a top-tier gem.

Differentiating a diamond's cut from its shape is vital. For instance, "round" refers to the shape of the diamond, not its cut. The cut encompasses factors like symmetry, proportion, and polish, while the shape pertains to the external form of the diamond.

The cut of a diamond holds the key to its brilliance, intricately dictating the angles and path of light through each facet. Poorly cut diamonds allow light to escape, leading to lackluster visual appeal.

An ideal cut diamond boasts impeccably balanced proportions, flawless symmetry, and outstanding polish. Facets and dimensions are deliberately crafted to optimize the reflection of internal light, resulting in a captivating radiance.

From an aesthetic perspective, the cut significantly influences a diamond's beauty; the higher the cut quality, the more dazzling the diamond appears. In pursuit of an ideal cut, adjusting other factors, such as color or clarity, is entirely reasonable. Additionally, an ideal cut can impart a larger appearance to a diamond, while a poorly executed deep cut can artificially enhance the carat weight.

For a more in-depth understanding, we encourage you to explore our article comparing ideal vs. excellent cut proportions, serving as a useful point of reference.

Color

Color equally holds substantial sway over a diamond's overall brilliance. The spectrum spans from D ( colorless) to Z (exhibiting a yellow or brown tint). However, a majority of retailers typically do not carry diamonds exceeding the K color grade.

Diamonds rendered colorless are exceedingly rare and, as a result, command a premium price. A slight yellow undertone often characterizes most diamonds, although it remains imperceptible to the naked eye. Despite the seemingly random price variations from one color grade to the next, a fundamental consideration arises:

Distinguishing between a colorless diamond and an almost colorless one proves arduous, implying that investing extravagantly in an attribute lacking discernible visual impact may not be judicious.

To optimize value, contemplate opting for a diamond with a G color grade – a point that is generally seen as the juncture where a mildly noticeable hue transitions into the realm of colorless diamonds. For the vast majority, differentiating between the two becomes an arduous task.

Choosing a diamond with a G color grade or above is ideal. However, H or I color grades are also good budget choices, especially when paired with an excellent cut. Prioritizing an exceptional cut alongside a slightly lower color grade can often yield more satisfactory results compared to compromising on cut quality while insisting on a higher color grade.

This underscores the practicality of balancing various attributes to secure the best possible combination that aligns with a given budget and aesthetic preferences.

Clarity

A diamond's clarity characterizes inclusions (internal flaws) and blemishes (surface imperfections). While most diamonds exhibit flaws, what fundamentally matters is the perceptibility and placement of these imperfections.

Diamond clarity is assessed by grading visible flaws under a magnification of X10.

Opting for a clarity grade of VS2 often offers an optimal balance of value. When comparing price differentials across various clarity grades while keeping carat weight, cut, and color constant, buyers will observe that internally flawless and VVS diamonds command higher prices due to their rarity. However, distinguishing between these exceptional clarity grades becomes virtually impossible for the naked eye.

Diamonds with identical 4Cs – including clarity – can possess notable price differences, primarily driven by the nature of the flaw and its perceptibility. For instance, within the SI2 diamonds, some may exhibit impeccable eye cleanliness, while others might feature conspicuous large black crystals or clouds.

Beyond the 4Cs, a host of additional factors wield influence over diamond pricing. These encompass certification, the diamond's physical appearance, and shape, each contributing to the holistic determination of its value.

Certification

Certification holds such paramount importance that it is often deemed the unofficial fifth C.

A multitude of diamond grading laboratories operate on a global scale, notable among them being GIA, AGS, IGI, and HRD. Each of these establishments adheres to its distinct set of grading criteria and standards.

A grading report from a reputable laboratory is arguably the most important factor in determining a diamond's price. This report serves as a confirmation that the diamond is a genuine natural gemstone, accurately assessed and graded.

With a grading report in hand, a buyer gains the added assurance of evaluating the diamond's quality via an unbiased third-party perspective.

GIA and AGS notably stand out for their globally esteemed reputation, owing to their steadfast commitment to the highest and most uniform grading standards. For instance, while GIA might classify a diamond as SI2 in clarity, a different laboratory might assign it a VS2 grade. In some instances, certain grading labs might even inflate their grading by as much as two full grades.

Despite the perception that diamonds graded by GIA and AGS might come with steeper price tags, the underlying reality is that these certifications bring forth a greater degree of consistency and accuracy in grading. This consistency ensures that the buyer receives reliable and truthful information about the diamond's attributes, thus fostering a higher level of trust and confidence in the transaction.

Physical Appearance

While a grading report can validate the quality of a diamond, it falls short of accurately capturing the stone's in-person allure. This is due to the potential disparity in the visual presentation of two diamonds possessing identical grades. As a result, the visual aspect of a diamond significantly impacts its market value.

Diamond Shape

The per carat price of a diamond can vary depending on its shape, with certain shapes commanding higher prices due to the larger rough diamond required for cutting. Additionally, the popularity of a shape plays a crucial role.

Round diamonds are the most expensive among diamond shapes due to their widespread appeal and remarkable brilliance.

Following closely in popularity and cost are princess cut diamonds, renowned for their dazzling sparkle that rivals even round diamonds.

On the other hand, the oval diamond offers a contemporary twist on elegance. Its popularity is soaring, presenting a compelling alternative to the classic round cut.

Conversely, fancy cuts such as Pear, Asscher, Emerald, and Marquise come at a more budget-friendly price compared to the round diamond shape.

Opting for a shape other than round can result in notable savings of up to 20 for buyers.

Diamond Fluorescence

Diamond fluorescence presents as a gentle, typically blue radiance emitted when a diamond is exposed to ultraviolet light. This natural phenomenon is evident in approximately one-third of all diamonds globally.

In many instances, the presence of blue fluorescence has a neutral impact on a diamond's visual appeal. Interestingly, despite its classification as a potential drawback, it can actually offer cost savings while upholding quality, particularly in diamonds with H to J color grades. The blue fluorescence can counterbalance any underlying yellowish tinge that might be present in diamonds of lower grades, effectively enhancing the color perception, especially for those with an H grade or lower.

Conversely, diamonds exhibiting yellow or green fluorescence generally experience a decrease in value unless the diamond itself is classified as a fancy yellow or green diamond. In such cases, this specific fluorescence hue can intensify the diamond's saturation, thus augmenting its worth.

In a broader context, fluorescence tends to diminish the value of diamonds graded within the D-F color range. However, it might not significantly influence the pricing of I-J grade diamonds. Notably, moderate to strong blue fluorescence could lead to a milky appearance in the stone, thereby reducing its value.

For additional reference, check GIA's article on diamond quality factors.

Changes in Diamond Prices

With the global economy experiencing growth, the demand for luxury goods, including diamonds, is expected to rise. Simultaneously, diamond mining has decreased, which might lead to higher diamond prices in the future.

Over the past decade, diamond prices have surged by approximately 32-33%, reflecting an average annual increment of 4%. These prices exhibit a moderate annual oscillation, fluctuating from 5-7% from high to low.

Online Diamond Pricing

The pricing of diamonds is significantly influenced by a jeweler's markup, which can substantially differ from one store to another for a diamond of similar quality.

Recognizing that certain online retailers provide superior selection and pricing without compromising quality becomes crucial. Brick-and-mortar retail outlets tend to have higher prices due to the transfer of overhead expenses to consumers.

The divergence in online and physical store prices can be attributed to lower overhead costs. Opting to shop online is often advisable, potentially leading to savings of up to 50% compared to local jewelry stores.

For reference, check our list of places to buy diamonds.

Diamond Prices Amidst COVID-19

While some diamond dealers initially reduced prices by 3-5%, they eventually rebounded. This trend generally reflects the broader commodities market, including diamonds, as increased demand and inflation from more dollar printing contributed to price hikes.

Diamond Prices in 2023

As highlighted in this article, the prices of diamonds have significantly fallen due to the economic downturn and increased demand for lab-grown diamonds. As a result, diamonds under 2 carats might trade up to 5% lower than those shown our charts. However, we believe this decline is temporary, making it a perfect time to buy one. Additionally, prices for "investment-grade" colorless and flawless diamonds are not as significantly affected, given that they are scarcer compared to ones with lower quality grades.

Key Takeaways

Calculating diamond prices is a multifaceted demand task requiring in-depth market knowledge and expertise in assessing diamond quality. In our charts, we have attempted to streamline the process for regular buyers while recognizing that a single formula cannot universally apply to diamonds due to their distinct natural characteristics. Additionally, buyers should carefully evaluate the seven quality factors discussed in this guide when buying a diamond.