Breaking Down the Price of a 2 Carat Diamond
When it comes to picking an engagement ring or wedding ring, more and more couples are ignoring the status quo and opting for something a little more personalized. One of the trendiest ways to add some personality is by opting for a 2 carat diamond. But though “in” diamond sizes may come and go, they all bring up the same old worry: cost. If you're looking into this carat size, don't automatically assume you can't afford it.
The problem: 2 carat diamonds are still less common than 1 carat diamonds, so it's not as easy to set your budget before you start shopping. Let's break down the cost of these diamonds — and what influences their price — so you can get the best diamond possible (without blowing your budget). And check out how to buy an engagement ring on a budget if you want even more tips for keeping your credit card bill right where you want it.
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The Average Price of a 2 Carat Diamond
If you're like most of us, you probably assume that the price of a 2 carat diamond is simply double the price of a 1 carat diamond. It's not that simple, though: Finding enough raw material to create a 2 carat diamond is more difficult than a 1 carat, so the price can vary in a pretty broad range — anywhere from $2,000 to $30,000.
Why the Price of a 2 Carat Diamond Differs So Much
The 4 C's of diamonds — cut, clarity, color and carat — influence the price of a 2 carat diamond, with those that closely fit the idea of a “perfect” diamond hitting the top end of the price range. The price of a 2 carat diamond (like all diamonds) is heavily determined by:
Cut
The cut of a diamond simply refers to how it looks, interacts with the light and its finish. Each diamond shape and size has an ideal cut proportion. GIA diamond cut grading compares how a diamond stacks up against this idea. The scale runs from Fair or Poor (these diamonds are not carried by With Clarity) to Excellent. Some diamond cuts (like round diamonds) also sacrifice more of the rough material, which means they cost more.
Clarity
Flawless diamonds free of blemishes (called inclusions) are included in how a diamond is valued. The rating system for diamond clarity is technical, but in general diamonds with even one inclusions are rated lower than flawless diamonds. This scale runs from FL (Flawless) to I1 (Included 1), and you can read more about the diamond clarity scale here.
Color
You're probably most familiar with traditional clear (colorless) diamonds, but diamonds actually come in a variety of colors. GIA has standardized this grading process on a D-Z diamond color scale. Colorless diamonds are the most rare of diamonds and are categorized D-F, near colorless from G-J, and faint color from K-M. Colorless diamonds are the most expensive, with the price falling as you move down the color scale.
Carat
The bigger the stone — and the better it looks — the more you will pay, so a 2 carat stone will naturally be a lot more than a 1 carat diamond.
How to Lower the Price of a 2 Carat Diamond
Your heart — or your significant other's heart — is set on owning a 2 carat diamond, but your wallet is too slim for a flawless stone. The good news: Compromising on some of the 4 C's of diamonds doesn't mean you'll get any less of a beautiful stone.
Opt for a Less Flawless Diamond: Those diamonds with no inclusions are dramatically more expensive than diamonds with a few flaws, and most people won't even notice that you don't have a completely clear stone. Some inclusions aren't eye visible, which is what really matters when you're showing off your rock. Others can be strategically covered up by a ring setting with prongs. Our expert gemologists can walk you through the details and the process of making a diamond in your budget look its best so reach out anytime.
Come Down on Your Color Grading: Diamonds that rate lower on the color scale are less expensive than completely colorless diamonds. Although some faint yellow or brown can be found in stones at the lower end of the color grading scale, it can be almost impossible to detect. G and H diamonds, which fall just short of colorless, are the most popular because they strike a balance between lack of color and budget.
Skip the Round Number: There's a lot of demand for those round sizes, like 1 and 2 carat. But a diamond that clocks in just under 2 carats at, say, 0.97 carat looks just as big to everyone but a gemologist and weighs in under the price of a 2 carat diamond.
Go for a Halo Setting: You can create the look of a larger diamond without the price by going for a halo setting with a smaller diamond in the center, along with a ring of pavé or micro-pavé diamonds surrounding it.
Be Firm With Your Budget
Shopping for a 2 carat diamond can be fun (and frustrating), but there's no reason to feel forced into buying a diamond outside of your budget. Instead, enlist the help of one of our expert gemologists who will help evaluate your priorities with a 2 carat diamond and then help find a stone that meets your dreams and fits into your budget.
