How Much Does a Diamond Cost?
Diamond is the hardest naturally occurring mineral on earth. It is 58X harder than anything else and formed under high temperatures found 90 miles under the earth’s surface. It is the only mineral that is carbon-only, meaning no other element is found in its structure. The only other all-carbon compound is graphite, much softer and brittle because of the carbon bonds and structure. You can use it to write. Diamond, on the other hand, is very hard that only another diamond can scratch it. It also boasts unique aesthetic appeal, although this is influenced by various other processes, including the treatment and cut provided. Diamond is also highly regarded and one of the most precious stones, used in diamond rings and plush jewels.
The diamond price will depend mainly on its quality and size. The best quality diamond will cost more than a low-quality diamond. A more significant piece will also cost more if the quality remains constant. However, no two diamond stones are the same. It is crucial to determine all the characteristics of your diamond before purchasing, and the best way is to ask for the GIA report. GIA stands for Gemological Institute of America, a non-profit launched in 1931. GIA created the international diamond grading system used in the world to determine the quality of the diamond. GIA report provides a unique blueprint of the diamond’s key attributes and features, seen as the ultimate assurance of the stone’s quality.
Determining the quality of your diamond
Since diamonds prices are based on quality, it is essential to learn the varying grades available based on the international grading system. Essentially, diamonds can be natural (formed in the earth’s mantle) or synthetic (grown in the labs). Natural diamonds are costlier than synthetic versions. The GIA provided the 4Cs, which is used to evaluate the natural diamond, based on four unique qualities as follows:
The GIA scale classifies diamonds on a scale that runs from D (colorless) to Z (light yellow/brown). Less color implies higher quality, with colorless regarded as the ultimate quality for diamond quality. The GIA color grading system uses a master set of diamonds representing the different colors (D-Z). All diamonds are classified using the scale.
Like color, clarity is a crucial factor used to determine how much the diamond will cost. The international grading standard from GIA has 11 clarity scales that run from flawless to I3. Flawless diamonds refer to those with no inclusions or blemishes when viewed under a microscope with 10x magnification, while I3 represents diamonds with inclusions visible to the naked eye. The 10x magnification also helps to identify whether any treatment was done to improve clarity.
The cut influences the cost of diamonds, and there are five different grades available from excellent cut to poor cut. Cut and polish affect how light is reflected, which determines the sparkle and brilliance of the diamond. The GIA uses unique equipment that takes hundreds of measurements and proportions, including the cubic size, girdle thickness, polish, symmetry descriptions, and more.
This refers to the size or actual volume of the diamond present in the stone or jewelry. One carat equals 200 milligrams of the diamond. The international grading standard uses sealed chambers with precise scales that measure the accurate weight of the diamond. More carats equals more diamond, which is costlier if other characteristics are kept constant.
How much will I pay?
Premium quality diamonds that are natural, colorless, flawless, and excellent cut will cost more while light-yellow, I3, poor cuts are usually the cheapest. Synthetic diamonds are also less expensive, but some cost more than natural diamonds. It all depends on the overall quality, although lab-grown cuts go through a different grading system. The diamond price is complicated because of all the unique characteristics. Some colors work well with specific cuts and settings. Shopping around will also reveal different prices, even if the quality is constant. Here’s a look at the average cost of round, brilliant cuts: The prices will look different for other cuts, settings, and quality. For instance, I-grade VVS2 clarity costs around $3,000 per carat. On the other hand, the best color (grade D), clarity (grade IF), and cut (excellent or ideal) can cost above $20,000 per carat. The pricing varies widely depending on where the diamond appears on the international grading system and other characteristics, such as prong setting if you are purchasing a wedding ring.
Things to consider
Diamond prices are influenced by various factors, including the type of jewelry you are purchasing. For instance, diamond rings and other esteemed jewelry cost more than other pieces. Some of the crucial things to consider and concur with the diamond ring price include:
Certification and reports
If you are purchasing any diamond that’s worth $1,000, or more, it is essential to get a certification. GIA report is a great start. You can also look for certificates from other trusted labs, such as AGS (American Gem Society). The documentation provides accurate descriptions of your diamond, which can be used when selling it. GIA can even embed a unique microscopic code of the gem’s report.
If you are purchasing a diamond wedding ring, the setting is among the crucial things to consider. Single-stone, side-stone, three-stone, solitaire, and halo are the most popular settings. You should also determine your partner’s favorite shape, color, the right support metal, and size.
You should buy your diamond from reputable jewelers that can guarantee premium quality and cuts. Some jewelers use the best standards and treatment procedures, providing exceptional pieces. Others have years of experience in the industry, which comes with trust and reliability.
The cost of a diamond varies greatly from under$1,000 to more than $20,000 for one carat. The 4Cs are the most crucial things to review. You should also get a diamond report, especially if you pay thousands of dollars for your piece. With that said, diamond is one of the most expensive minerals on the planet, so expect to spend a lot for good quality.