So you’re interested in purchasing a custom diamond engagement ring, but you’re starting to realize that creating a unique ring means you’ll need to choose the diamond and setting separately. Don’t worry: Diamond Mansion can advise you with that decision!
With customization, you can select your favorite diamond, but you need to know at least some information about the diamond you want. Getting a pre-made price for a pre-made ring might seem like less hassle, but choosing a stone and setting separately will give you the best value.
We’d like to tell you about how to understand diamond pricing, which many customers find confusing.
At a grocery store, price usually increases in proportion to amount. For example, buying two pounds of apples costs twice the price of buying one pound of apples.
But in the diamond industry, price does not necessarily increase in proportion to amount. For example, a one-carat diamond is not simply twice the price of a half-carat diamond.
Okay, then, how are diamond prices set?
The diamond industry uses a term called “price per carat.” Price per carat shifts at preset weight increments. For example, one price per carat exists for stones between .5 carats and .99 carats. A one carat stone falls in a new weight category.
To complicate matters, the same price per carat doesn’t apply to every one-carat stone. Price is segmented even further based on stone quality. A one-carat near colorless diamond that’s slightly included will cost less per carat than a one-carat colorless stone that’s very slightly included.
Pro tip: If you’re a savvy shopper who isn’t superstitious about numbers or doesn’t care about purchasing a full carat, try to find a .97 carat diamond or something that weighs as close to a carat as possible. That way, you’ll snag the per-carat price that’s significantly less than the price for the same quality stone at a full carat weight.
How much does it matter to you to be able to say you’ve purchased a one-carat or two-carat diamond? Would you sacrifice a fraction of the weight to save money?