Diamond Price Guide

Diamond prices are complicated as their value is often calculated by taking multiple factors into account. In this diamond price guide, you'll find out all you need to know about how much a diamond's price is determined. 

When it comes to diamond jewellery, you want to be sure you are getting the right piece for your budget. Use this guide to figure out diamond prices per carat and how to get the best bang for your buck.


How Much Does A Diamond Cost? 

The cost of a diamond can vary tremendously. Some can cost several hundred dollars, while others can be priced in the thousands. Some can range in the millions, while the Queens crown jewels are worth a reported $4 billion.

The biggest contributing factors in determining what a diamond is going to cost are the four Cs; cut, colour, carat and clarity. If you're looking for a diamond engagement ring, this stuff is important. 

diamond price guide: the 4c's


The cut of a diamond is a style guide that is used when polishing the stone rather than its actual shape. A diamonds symmetry, proportions and polish can have an impact on the stones brilliance and therefore its ability to shine. 

Diamond Price Guide: cut


The colour of a diamond can have a tremendous impact on its cost, with the diamonds lack of colour often making it more valuable. However, it is not only colourless stones that are highly regarded. Diamonds that possess a great depth of colour are some of the most expensive stones on the market. These stones are known as fancies or coloured diamonds.

Diamond Price Guide: colour chart



The size and weight of a diamond is a major contributor to its cost. Diamonds are measured in carats, an ancient measuring unit that was once used to derive the seeds of a carob tree. One carat is divided into 100 points, diamonds under 1 carat in weight are often referred to as pointers. A diamond will usually be priced on a per carat basis. 

Grahams Diamond Price Guide: carat chart


The clarity of a diamond refers to its imperfections or lack thereof. Imperfections are also known as inclusions, occur during the crystallization process. While usually not visible to the naked eye, inclusions usually appear as small cracks or tiny flecks of black carbon. Inclusions are present on almost every diamond on the market, and while they do not detract from the beauty of a diamond, a flawless diamond with little to no inclusions will usually be more valuable.

Grahams Diamond Price Guide: clarity grading scale


Other factors that can determine the cost of a diamond are its shape; with brilliant-cut, oval and heart being the most valuable. Fluorescence as well as the rarity of a particular stone will also play a big part in their value. Some of the rarest types of diamonds in the world are fancy diamonds including black diamonds, blue diamonds, green diamonds, orange diamonds and pink diamonds. These types of diamonds usually have a hefty price tag to reflect this.  

Price Of Diamonds Under 1 Carat

Diamonds that weigh less than a carat can range from 0.01 points to 0.99 points, they will then be priced accordingly, where the factors above including cut, colour and clarity will also be taken into consideration. Theoretically speaking, you could pick up a pointer diamond for as little as $150 to $1000 AUD. However, a flawless diamond that is around 0.50 carats could cost you upwards of $3000 AUD.

Price Of Diamonds Under 1 Carat

Price Of 1 Carat Diamonds

When shopping for a diamond, the main factor that most buyers will consider is the number of carats a diamond will have. Depending on their cut, colour, clarity and shape diamonds that are worth 100 points or 1 carat will usually be priced between $2000 and $12000 AUD. Bear in mind that this amount just refers to the diamond itself and not any additional features such as the setting or jewellery that the diamond sits within. 

price of 1 carat diamonds

Price Of 2 Carat Diamonds

On average, diamond buyers can expect to pay anywhere from $5500 to $60000 AUD for a 2-carat diamond. This will vary greatly when taking into consideration the multiple factors discussed above. For example, this 2-carat diamond ring in 18 carat rose gold (pictured below) is priced a lot higher than many of the other 2 carat diamonds in Grahams collection due to it measuring higher on the colour and clarity scale.

price of 2 carat diamonds

Price Of 3 Carat Diamonds

While it is pretty rare, you could potentially pick up a 3-carat diamond ring like this pear-shaped brilliant-cut cluster diamond ring from Grahams for as little as $6000 AUD. Usually, 3-carat diamonds with a higher cut, colour and clarity can range anywhere from $19000 to a whopping $100000 AUD. Some flawless diamonds that are certified by the GIA (Gemological Institute of America) can even surpass the $150000 AUD mark.

price of 3 carat diamonds

The Price Of Lab-Grown Diamonds

Despite what some may lead you to believe, lab-grown diamonds ARE real diamonds. And therefore they will be priced according to the 4Cs,  with one exception. Unlike their natural counterparts, man-made diamonds are not mined deep within the earths crust. 

Instead, they are created in a lab under very controlled circumstances. Lab-grown diamonds do not require the same manpower or heavy and expensive machinery used to retrieve natural diamonds and it is because of this, they are slightly cheaper. According to diamond experts, man-made stones cost around 30% less than their natural counterparts-which is a major win for those looking for an exquisite gemstone without having to break the bank. 

price of lab grown diamonds

Diamond Price Chart

Those within the diamond trade have used the same guide to price their stones since the early 1970s. Known as the Rappaport list, is a weekly publication that breaks down the prices of diamonds in cut, colour, carat and clarity. The prices listed are prices per carat in $100 increments. The prices in the Rappaport list are generated by multiplying the price per carat by the carats size. Check out an example of a Rappaport diamond price list below!

diamond price chart from Grahams diamond price guide

Discover Grahams exquisite range of diamond rings, diamond bracelets, diamond pendants, diamond earrings and more in-store at one of our five locations and online now. Explore the various finance plans on offer through Afterpay, Zip, humm, Latitude Interest Free and Laybuy. Receive free shipping when you spend $69 or more in one transaction. 

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