Does Diamond Size Affect Price?
You’re buying that big sparkly diamond and would like to understand where the bulk of your buck lies. Does diamond size affect its price?
Now that we have that out of the way, shouldn’t our question should be if a diamond carat affects its price? I’m glad you agree! ;) Now to our answer! A diamond’s carat weight is actually the biggest contributor to its price. This is because it’s the most unbiased way to determine a diamond’s true value.
This means then that the higher the carat (and possibly bigger) the diamond, the more its cost! What contributes to price jumps (especially the dramatic ones) as a diamond gets bigger is:
Bigger diamonds are less readily available than small ones. If the laws of supply and demand have taught us anything, it is that the less the supply, the more the demand. The more the demand, the more the value and hence the higher the price.
Diamond carats get more popular at key intervals like 0.5 ct and 1ct. These intervals are sometimes called “magic” intervals. This makes diamonds at these intervals more expensive.
Another thing to keep in mind is that the prices of diamonds are not directly proportional to their size. Instead, they increase quickly by large amounts in relation to their carat sizes. As an example, if half a carat diamond costs $4000 it doesn’t mean that a 1-carat diamond would cost $8000. There you have it! :)
References: Diamond Rocks, Diamond Valuation, Beyond 4Cs, PriceScope, International Gem Society