It is no secret that diamonds are a substantial and valuable purchase. Learn how to make the most of your budget and find a diamond that truly sparkles, at a price that works for you.
Learn About Diamond Prices And Value
Diamond price is reflective of size, quality and therefore rarity. The higher cut, colour, clarity and carat weight, the rarer the stones and therefore the greater the value of diamonds. Diamond prices increase exponentially with weight; intervals like the 1ct or 1.50ct or 2ct mark can see large jumps in diamond price points.
Knowing how to value a diamond takes an understanding of the 4Cs and how each characteristic impacts price. Once you know the basics and have the help you need from a trusted jeweller, choosing a diamond will be easy – and fun! This is an investment that will bring joy for a lifetime to come.
How much is a diamond?
Engagement ring-quality diamonds can be found with a large variety of price points, from as little as £600, right into the hundreds of thousands. Today’s ring buyers would typically spend between £1,300 to £7,000 and upwards on their engagement ring, but this is an extremely personal decision. The beauty of creating a bespoke engagement ring means finding the perfect price point for your specific budget is simple.
While the ring setting prices remain fairly constant, diamonds and gemstones vary hugely in price, meaning you can largely tailor your ring to your specific, personal budget. Start by selecting a setting type, then subtract the cost of this from your total budget to begin the search for your centre stone. Simpler yet - contact us to meet with a qualified gemmologist. Let us know your budget, the ring style you like, and leave the diamond search to us!
How much will the ring setting cost?
Cast your eye over the typical price points of the four classic design styles, solitaire, halo, trilogy and diamond shoulders. These are the prices of the ring settings alone, without the addition of the centre diamond. Subtracting the cost of the ring design you like from your total budget will give you an idea of how much to spend on the diamond.
- Solitaire £700
- Halo £1,650 - £1,750 (£2,000 - £2,250 for more complex designs)
- Trilogy £900
- Diamond Shoulders £1,300 - £1400
We get it, you’ve never done this before.
That’s why we have diamond and design experts on hand, who are here to guide you through every step - from understanding what carat, colour, cut and clarity mean, to designing the perfect ring.
How to value a diamond using a diamond certificate
There are two ways you can judge the quality of a diamond and whether it’s worth your investment. Firstly, from its grading certificate, preferably provided by the impartial and most renowned grading laboratory, the GIA. This will lay out the diamond’s precise grades for each characteristic - pay particular attention to the cut, colour and clarity grades.
How to value a diamond using your eye
Secondly, use your eye - two diamonds could have the exact same grades but you could find that one jumps out to you. Diamonds are graded on a sliding scale, so you may have a very high ‘Excellent’ cut versus a slightly lower ‘Excellent’ cut. Plus, they’re seriously unique! Just like snowflakes, no two diamonds are exactly the same. If possible, view your diamond options in person, or via video link with a professional.
What is the price of a 1 carat diamond?
The price of a natural 1ct diamond is typically between £6,000 and £10,000 for a diamond that is optimal quality. Lower the cut, colour and clarity grades, and you could find a diamond for less than £6,000, but it won't have the brilliance and icy beauty of a diamond graded Excellent to Very Good cut, VS2 to SI1 clarity and D to F colour, ideally the lowest grades you should consider. For a top quality 1ct lab diamond, you could be looking at prices as low as £2,000.
How carat weight impacts diamond prices in the UK
Diamond price increases exponentially with carat weight; one diamond of, say, 1ct will cost significantly more than two diamonds that equate to 1ct. The larger and heavier a diamond, the rarer it is, and therefore the greater the value of the diamond - but do remember there are a number of other variables that will impact the diamond’s price, including the cut, colour and clarity grades.
|Carat||Cost Range (based on D-F, VS2, Excellent diamonds)|
|0.50ct||£1,700 to £2,000|
|0.75ct||£2,600 to £3,600|
|0.90ct||£4,900 to £5,500|
|1.00ct||£6,200 to £7,800|
|1.50ct||£12,600 to £14,000|
|2.00ct||£22,000 to £27,000|
The 4Cs and diamond price
- Cut - An Excellent cut boasts the most sparkle and value. Only round diamonds receive a cut grade, but Excellent symmetry and polish grades have similar impact on other diamond shapes. This is a grade worth spending on! Choose Excellent, or Very Good at the lowest. Lower grades will cost less, but will lack intense sparkle. Learn more about Diamond Cut.
- Colour - Diamonds are graded from D (colourless) to Z (light yellow-brownish). Ideally choose between D to F which appear bright and colourless, or G to H for a tighter budget. Anything lower will cost less, but will be visibly less bright and icy white. Learn more about Diamond Colour.
- Clarity - Diamonds contain small imperfections called inclusions. The more inclusions, the lower the price; but many inclusions are so small they aren't visible to the naked eye. So this is a great place to compromise and save budget - choose between VS2 to SI1 which is a midway point between F (Flawless) and I (Included). Learn more about Diamond Clarity.
- Carat - The biggest driver of a diamond's price is its carat weight. Price increases exponentially with carat, and you'll notice big jumps in price at popular weights like 1ct and 1.50ct. The larger a diamond, the rarer and therefore more expensive it is. Learn more about Diamond Carat.
Carat weight may seem like the most important factor when choosing a diamond, but we’d advise you to prioritise the ‘cut’, followed closely by the ‘colour’ grade of the diamond. These two grades largely determine the beauty of the stone, and in turn can enhance its size. A large but poorly cut or yellowish diamond can appear dull and lack lustre - and won’t make the most of the diamond’s ability to produce serious sparkle! Compromising slightly on clarity can lead to significant savings.
How to reduce your ring cost with undersized & oversized diamonds
Diamond carat weights are usually categorised by rounded decimal numbers that increase in defined amounts, such as 0.25, 0.50, 0.75, 1.00 - these are known as ‘magic numbers’. When a stone falls just below or just above a magic number, it can offer fantastic value for money. Underweight diamonds will weigh almost as much as a similar diamond in the next band up but will be priced considerably lower.
An oversized diamond is a great find as it will have a carat weight slightly above the accepted cut-off, but cost the same as those that are on the lower end of the scale. Be aware that it is quite rare to come across either of these phenomena, as diamond cutters typically aim for a magic number, or can cut poorly when trying to achieve a higher weight.
Excellent cut stones appear larger
An Excellent cut diamond will have been cut to exude the greatest beauty, rather than sacrificing the cut grade to obtain a higher carat weight. Paid by carat weight, some cutters choose to forgo the Excellent cut to produce a cut stone of a higher carat weight but lower cut grade, which will appear dull and ill-proportioned. Excellent cut diamonds exude the greatest light return and sparkle, so you’ll find an Excellent cut 0.98ct, for example, can appear larger than a 1ct diamond with a Fair or Poor cut grade.
Quick tips for finding the best value diamond
- Familiarise yourself with diamond carat weight vs pricing with the table above to see the rough size your budget will afford
- With your budget in mind, use our loose diamond search tool and filter with the following grades: Excellent cut (which only applies to round diamonds), D to F colour, VS2 to SI1 clarity and see all the available diamonds on the market for your specific search. You can tweak the grades a little to compare prices - compromise by lowering the colour to G or H, and cut to Very Good for tighter budgets.
- For considerably lower prices, browse loose lab diamonds and compare price points with natural diamonds - you should notice savings between 40% to 60%.
- Check out different carat weights a little below and above the carat you have in mind. These diamonds can be amazing value - for example, a diamond between 0.95 - 0.99ct will look like a 1ct, but cost considerably less. Similarly, a 1.05ct diamond will cost close to a 1ct but you won't see much price difference for that extra 0.05ct.