We all know that diamonds aren’t sold by gram, the weight measurement for diamonds is the Carat, but how to estimate the price for a carat? Or for a 1 gram of diamond?
To get there, we need to know how much carat is in a gram of diamond (and in case you don’t know already, you will be surprized!).
But for now, let’s look and try to understand why this 1 carat diamond on James Allen is priced at $5190 (at the time of writing this), while this almost exact one (from BlueNile), but 2 carat cost around $17k and not 2 x 1 carat price?
That’s simply because diamond pricing doesn’t work this way, 2 carat diamond price isn’t the same as the price of two 1 carat diamonds, since a lot goes beyond this, and that’s what we will be covering here.
For 1 gram of diamond, prices will vary a lot, feel free to check this pre-set search on James Allen to see the price range before we get into details.
For example, here is the image of the cheapest 1 gram diamond on James Allen, priced at $35380 (as of now):
Of course, they don’t list it as “1 Gram” but I made that up just not to burn it early.
Want to know what’s the maximum price of 1 gram diamond? Wait for it, it’s coming.
Because diamonds price varies a lot, and specially with large diamonds like a 1 gram diamond, we will be covering the mystery of diamonds pricing, will see what’s the diamond price per “gram”, and then how 1 carat of diamonds is worth.
Yes that’s might not sound familiar for many of people, but a lot are aware of gram as a weight unit rather than carat.
How Much Carat is 1 Gram Diamond?
If you’re wondering what’s diamond worth per gram, now you will see, but before I tell you, it’s not at all what you want to know!
Simply because diamond carat is 200 milligrams, and we know that a gram is 1000 milligram, which means that 1 carat equals 0.2 of a gram and a gram equals 5 carat.
So, asking how a gram of diamond worth is exactly like saying how much is the price of 5 carat diamond!
Not sure if you want to know the answer after knowing that a gram is 5 carat, but let’s see.
If you ask a diamonds rep from your local jewelry store, when was the last time he/she saw a 5 carat diamond, the answer can be as simple as never!
5 carat diamonds are very rare, to the point that a lot of people who are in the industry for years never see one of them!
To put 5 carat (1 gram) diamond in perspective and understand how large it is, let me tell you that +90% of diamonds you’ve seen in your life are less than 1.5 carat! Same thing goes for any diamond expert!
What is Diamond Price per Gram?!
While you probably will never find a 1 gram diamond in your local jewelry store, chances are you can get an idea about its size and price on online stores, and from there we will get our price estimation for 1 gram diamond.
Being the largest online store with hundreds of thousands of diamonds, James Allen will be our main reference for the price estimation.
Note: Out of almost 200k diamonds on James Allen (as of writing this), only 412 diamonds are 5 carat or more (less than 2 in a thousand!).
The cheapest 5 carat diamond is priced at $36000 as you can see here, while the highest priced 5 carat diamond costs $395600, no, there is no extra zero here, $395k! And here is it in case it got sold:
No wonder, diamonds industry is insane, and such diamond is exceptionally rare, D colored & flawless!
James Allen are very generous if you noticed, they are giving a free ring with the diamond to make it worth for you!
Diamond price doesn’t count only on the weight, cut, color & clarity play huge part of this, so you can easily find 2 carat diamond cheaper than 1 carat! Because simply the characteristics aren’t the same, and we will see shortly how & why is this.
That’s why it can be very hard to exactly tell how much 1 gram of diamond costs, it’s like saying “how much a red car costs” without any more info!
So the price range is very wide, wide enough so you don’t strict your budget to a specific carat, rather, look for a good diamond for whatever budget you have, and don’t count mainly on Carat!
How Much is a 1 Carat Diamond Worth?
Does the diamond price only count on carat? Of course not, but to which extent other factors play a role in determining the diamond final price?
Take a look at this search on James Allen, the search limits the options to 1 carat only, and it gives us thousands of options that range between $2000 and $15000.
Yes, a low quality 1 carat diamond costs $2000, while a superior 1 carat diamond may cost $15000 if it’s on very high grades in terms of Cut, Clarity, and Color.
If we want to estimate the cost of 2 carat diamond, would it as easy as doubling these two numbers? Unfortunately no!
If you go to see the highest diamond for 2 Carat, you may end up with +$44000 for 2 carat diamond, and as low as $6000 as you see in these two screenshots:
So 2 Carat diamond is not 2 x 1 Carat diamond, it’s almost 3x.
We will see below.
How Much is a 2 Carat Diamond Worth?
Everyone wishes it was just multiplying 1 carat diamond price by two, but the truth isn’t anywhere close from this.
While 1 carat is the most common choice among diamonds shoppers, 2 carat is still popular to a lot of people, and their prices are “somehow” reasonable when you know what characteristics you need to get and not exceed them.
If we do a search on James Allen to find a wide price range for 2 carat diamonds, we see that it starts with around 6k for 2 carat (yes it sounds cheap, but never get such a diamond just for the sake of higher carat!).
And it goes up insanely to around 52k for just 2 carat like this diamond which we also can never recommend!
If we want to be reasonable in finding a fair price for a good 2 carat diamond, we can say it goes between 12k to 20k for ideal cut, SI1-VS2, and H color diamond.
Why the Price Difference in 1 Carat /2 Carat / 1 Gram Diamonds?
Diamonds are unique, like eye iris, you can’t find two identical diamonds on earth, a lot of factors sum up the final price of a diamond, even if it shares the same weight “carat” with others, here are the most important factors that make up the final price of a diamond:
1- Cut: Cut is the most important factor in any diamond, it’s mainly responsible make the diamond proportion so ideal so that it reflects most of the light that goes through it, this image tells you the whole story behind the Cut:
Feel free to reader Cut Chart article to know more about this.
2- Color: Once you set for at least a very good cut, the next important thing to check is diamonds color, it determines how colorless (or how yellowish) the diamond is, and it’s scaled (according to GIA standards) from D to Z, with D being the most colorless grade:
In 99% of cases, you will be safe getting an H color diamond.
3- Clarity: This factor determines how clean the surface of a diamond is, if it has inclusions (imperfections) or not, what types of them, visible to naked-eye or not, and also graded as we’ve seen in Diamonds Clarity Chart from I3 to FL. SI1 is eye-clean in most cases:
These 3 factors (along with many others like certification lab who assessed the diamond, polish, symmetry, etc…) play huge role in determining the price of a diamond, that’s why we see the price difference for 1 carat diamond.
A diamond with excellent cut, D color, VVS1 clarity price will be 5 or 6 times of good cut, K color, and an I1 clarity diamond, that’s why!
What’s the Average Price of 1 Carat Diamond?
Okay, the numbers were very vague, and to have a better estimation, we will look at the average price of 1 carat diamond, where we choose the minimum recommended factors as we stated above.
Roughly speaking, 1 carat diamond costs somewhere between $3500 and $6000 (Very good cut, H or G Color, SI1 or VS2 Clarity).
Why the Price of 2 Carat Diamond isn’t 2x of 1 Carat Diamond?
Diamonds are rare, and the larger a diamond is, the less available it is.
For example, as the time of writing this, James Allen has +11000 diamond that weight 1 Carat only (not a cent less or more), while for 2 Carat, they have only 600!
See this search on James Allen and change carat as you wish to see availability.
We’ve referred you to James Allen in this article for all our searches because it’s currently the largest diamonds online store with +300000 diamonds for sale.
Recommendation & Bottom Line
When you search for your diamond, don’t ever start by carat, actually carat is the LAST thing between the 4Cs that you should consider.
Always start with the cut, don’t ever get below a very good diamond, even if it was a very small diamond, a 0.5 carat very good diamond is better than 1 carat good one!
Next, head to color and spend your money on what matters, H will be enough for you! As for Clarity, get an eye-clean SI1 and you will be fine.
One last thing, we always recommend our readers to shop online for a lot of reasons, and between all online vendors, we’ve found that James Allen is the best to shop from for almost anyone.