Hello everyone!
“How much is a 1 carat diamond?” “How much pag bumili ako ng engagement ring?”
These are the commonly asked questions I encounter from clients who are in the market to buy diamonds, so I decided to write this blog on what factors come into play when talking about diamond prices.
I’ve written about the 4C’s of diamonds and now it’s time to bring all the knowledge together. All the 4C’s contribute to setting the price.
In the industry, jewelers follow price guides like Rapaport and GemGuide just to name two (I use both, by the way). These companies track prices of diamonds and other precious stones by following factors such as how the stones are bought and sold, or which size sells the most, what shapes are in demand, essentially how the market is moving. Whilst these are valuable guides when it comes to pricing, at the end of the day, it all boils down to the cost it took to bring the finished product from the diamond source called the diamond pipeline.
Related: Are There Diamond Sources in the Philippines?
So how does the 4C’s come into play when it comes to pricing?
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For example, we have a round 1ct. G color with a clarity grade of Slightly Included 1 (SI1) and a round 1 ct. I color with a clarity grade of Very Very Slightly Included 2 (VVS2) stone. As of writing, the Rapaport price for these two stones is $8,100 and $8,200 respectively. The prices are practically the same, right? But the characteristics of these 2 stones are vastly different. In this example, the clarity grade of the G color affected the price of the stone. On the flip side, we take the same round 1ct. stones of G and I color and assume they both have a clarity grade of Very Slightly Included 1 (VS1), the price for the G color is $10,200 against the I color which is priced at $7,400. This clearly shows that the price difference is caused by the far superior color of G over the I colored stone.
What does this tell us?
It all boils down to budget! Your budget dictates the diamond you want to purchase; that, and which of the 4C’s are you willing to compromise on. If you are firm with a round 1ct. G color stone but only have a budget of $5,000, then you would have to either compromise on the clarity and the cut grade. If you are more particular with the Clarity grade and only have a $5,000 budget, then be prepared to purchase a diamond that has a lower color grade that is in the K/L color range.
I hope you enjoyed today’s blog. Now that you have a clearer picture on how the 4C’s affect diamond prices, which attribute is most important to you? Sound off in the comment section below!
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