When you are buying a diamond, it could get insanely confusing because looking at all of your possible options, it seems like nothing seems to make sense. They are all the same in the end, right? Not really. There are a ton of affordable wholesale loose diamonds that are surfacing around the market right now so you have to learn how to calculate diamond prices to know what to expect when you go out and venture for a diamond that may catch your eye.
The three steps to buying a diamond
1. Certification
This would have to be the most important step when you are buying your diamond and it is an absolute must if you are planning on spending more than $1,000 on a diamond. Getting a certification for your diamond would help you have peace of mind that you are getting what they claim the diamond to be. The gold standard for the diamond industry is certificates that are provided from the Gemological Institute of America (GIA) and American Gem Society (AGS) laboratories.
2. Quality
Once you know which certificate to use, you have to understand all of the qualities that are listed on the certificates of the diamonds, and what you should do with the information that was given to you. You may be familiar with the 4Cs: Color, Cut, Carat, and Clarity. It could get a bit confusing, okay, maybe very confusing, but you could contact the jeweler you bought it from or other jewelers to help you interpret the certificate of the diamond you bought if you think you need help, advised experts from Julius Klein Diamonds. The Kleins’ diamond expertise and passion are currently being passed down to a third generation of diamantaires who are continuing the family’s tradition of excellence in a new diamond era. As a global force today, Julius Klein currently boasts sales offices in New York, Tel Aviv, and Hong Kong & manufacturing facilities in both New York, Namibia and Johannesburg.
3. Pricing
When you are looking for a diamond that you are planning to buy, you should go and shop around. A store would always be more expensive than what you can find online, but once you have figured out your right baseline and then you can decide if it is worth paying a premium for the added value that you feel you are getting from the store.
Diamond price calculator
When you look online, some sites would allow you to calculate the estimated price of the kind of diamond you would maybe want to buy. You would be able to input the shape that you are planning on buying, as well as the carats, color, clarity, GIA cut grade and Fluorescence. They could give you the average price, minimum price, and maximum price.
Calculating diamond price per carat
Diamonds are all priced per carat and the prices of the stone would increase as you jump up to higher weight categories. The higher the diamond’s carat weight, the higher the total amount that you would need to pay per carat to purchase the diamond. The diamond prices increase with weight.
The price of a 1 carat diamond is between $1,300 and $16,500 and it would usually depend on all of the different factors like the diamond’s cut quality, color, shape, and clarity. Here are some of the average price ranges for a 1 carat diamond in the 10 most common diamond cuts:
Diamond Cut Average Price Range
Round Brilliant Cut Diamond $2,500 to $16,500
Asscher Cut Diamond $1,800 to $6,900
Marquise Cut Diamond $1,700 to $10,000
Heart Shape Diamond $1,700 to $12,000
Pear Shape Diamond $1,700 to $11,400
Princess Cut Diamond $1,600 to $11,000
Cushion Cut Diamond $1,600 to $9,500
Emerald Cut Diamond $1,600 to $10,500
Oval Shape Diamond $1,600 to $10,000
Radiant Cut Diamond $1,300 to $7,000
How to save money when buying a diamond
The price ranges of diamonds differ from their diamond shapes and carat weight and the gap of the pricing could be very large. Finding the intersection where a diamond’s quality and value for money intersect is a way that you could save money when you are buying a diamond.
- Recognize that diamonds are often priced based on their category instead of being an objective measure of their appearance and the actual quality.
- You have to understand how the diamond cutting process would affect the price of the loose diamonds
- Learn how a diamond’s color and grade would affect the price of the stone, and how the right choice of color and clarity grade would be able to help you in buying a beautiful diamond at the right and justified price.
Navigating yourself through the diamond industry and trying to find the perfect diamond for the perfect price that is within your budget could be incredibly overwhelming. You could contact a bunch of other experts when it comes to buying diamonds to help you navigate through the whole process and give you some more personal advice.