Similar to a 1-Carat diamond ring, the price or cost of a 2-carat diamond engagement ring depends on different factors and characteristics. From the previous article, we know that Color, Clarity, and Cut affect the price of a diamond.
Read: Understanding Diamond Ratings: A Comprehensive Guide to the 4 C’s
Buying an emgagement ring can be confusing. In addition to the cost of a loose diamond, the band also impacts the price of a diamond. This, too, will be discussed in this article.
2-carat diamond rings can cost anywhere between $6,000+ to $50,000+. The main driver of the price is the quality of the diamond.
This 2-carat diamond ring costs $6,807.45 based on the following specifications :
|Diamond Type||Lab-Grown (LG)|
|Diamond Size||8mm x 8mm (Approx 2 Carat|
|Clarity||S12 (Slightly Included – carbon deposits and inclusions are visible with the naked eye|
|Metal||14K White Gold|
How Diamond Type Affects Price
The general rule for gemstones is that natural gems are more expensive than lab-created or synthetic ones.
Read also: Diamond Simulants: Diamonds vs. Moissanite and other Simulated Diamonds
While having the same properties and being graded the same way, Mined diamonds are more expensive than Lab-Grown (LG) diamonds. Some jewelers think of Lab-grown as inferiors, but in reality, it gives diamond jewelry further reach and a more diversified customer base.
The price difference between a mined diamond vs. a lab-grown ranges from 50%-80%.
A GIA-graded VS1 D-color natural diamond is priced almost at $33,000 per carat weight. An IGI-graded VS1 D-color Lab-Grown diamond is priced around $7,000 per carat weight.
For the same carat weight, a round diamond engagement ring,
- 2-Carat / 8mm round cut D VS1 Natural diamond ring with GIA report $66,481.81
- 2-Carat / 8mm round cut D VS1 Lab-grown diamond ring with IGI report $16,636.53
How Cut and Shape Affect Price
Specific cuts and shapes enhance characteristics, affecting the demand and the price of a diamond.
Before we proceed, let us distinguish first between cut and shape:
According to GIA, a diamond cut refers to a diamond’s “proportion, symmetry, and polish” and is usually assigned grades such as Excellent, Very Good, Good, Fair, and Poor. This grading is more common, with round brilliant cut diamonds being the most popular diamond cut in the market.
The diamond shape, on the other hand, is what most people refer to as diamond cuts. We have round, princess, oval, marquis, cushion, among others.
The Round brilliant is the most popular and most common cut, which makes up 50% of the diamonds sold in the market. There are three main reasons why round cut diamonds are famous:
- Round cuts are versatile – they will look good in any ring, on any hand, and can be mounted as a solitaire or with other diamond cuts.
- It is brilliant – brilliant round cut has 57-58 facets and is cut to ensure maximum brilliance and fire (or light reflection and refraction).
- Inclusions are harder to see – compared to step-cut diamonds (emerald and Asscher cuts), inclusions are harder to see in brilliant-cut / faceted diamonds such as cushion and radiant cut.
Because of these characteristics, the demand for round-cut diamonds is high, driving the prices up.
Left: 2-Carat / 8 x 8 mm Cushion Solitaire Cut Lab Grown Diamond 14K White gold G VS1 $12,917. Right: 1.76 Carat /8.0 x 6.0 mm Emerald Solitaire Cut Lab Grown Diamond 14K White gold, G SI1 $6,054.
Other Diamond Shapes
Other diamond shapes are getting popular, not only because of the price difference but because of their uniqueness. An Asscher Cut, for example, accounts for only 5% of total diamonds in the market, making it unique.
Also, getting an excellent step-cut diamond, such as Asscher and Emerald, are hard. As previously mentioned, a step-cut diamond makes inclusions easier to see. Thus, a high-grade diamond is a must, and consequently, that will drive the price up.
How Clarity Affects Price
Clarity refers to how “clean” and flawless a diamond is. The more flawless a diamond is, the better light is bounced and refracted, thus giving it more sparkle.
Diamond grading agencies describe diamond clarity using the following:
- FL – Flawless (clear, no inclusions)
- IF – Internally Flawless
- VVS1/VVS2 – Very Very Slightly Included (with inclusions but still eye-clean)
- VS1/VS2 – Very Slightly Included (with more crystal inclusions and visible under 10x magnification)
- SI1/SI2 – Slightly included (carbon inclusions are visible with the naked eye)
- I1/I2/I3 – Included (inclusions are visible and numerous)
Diamonds with FL and IF ratings are rare and expensive. On the other hand, diamonds with VVS and VS clarity are more common in the market and are usually used in engagement rings and other diamond jewelry.
A lab-grown D VS1 Clarity costs $7,353 per carat weight, while a D SI2 clarity costs $3,420 per carat weight. Both have IGI reports.
How Color Affects Price
The color is one of the main criteria of diamond grading and dramatically affects the price of a diamond or an engagement ring.
Natural and lab-grown diamonds’ color range from colorless (D) to yellow tint (Z). Any color yellower than Z grade is considered Fancy Diamonds (with pinks and blues) and might be more expensive because of its rarity.
Left: 2-carat round GIA rating D Vs2 $55,162.45. Right: 2-carat round GIA rating I VS2 $35,903.01
Quick Tip: Choosing a near-colorless diamond will appear yellowish if mounted in a yellow gold band. Therefore, if you want to save, you can choose a diamond with a lower color grade and opt for a yellow gold ring band
Left: Princess Cut – Near Colorless. Right: Princess Cut – Faint
Other Aspects to Consider
While diamond certification does not affect the look and feel of a diamond, it serves as excellent proof of the quality of your diamond. It gives you 1) the assurance that you are getting what you are paying for and 2) the leverage when you decide to sell your diamond jewelry.
Certified diamonds are more expensive than non-graded, especially for bigger carats. That is because certification is based on carat weight of a diamond.
Diamond size is different from carat weight. Carat weight refers to how heavy a diamond is (1 carat = 200mg), while a diamond size refers to how big a diamond appears (measured in mm).
It is important to remember that while a diamond has the same carat weight, some cuts appear larger than others. A perfect example is a Marquis. Because of its elongated shape, a 2-carat diamond ring seems longer than a round cut.
Quick tip: If you want a diamond that appears larger, you can opt for elongated cuts (a marquis, emerald, or oval diamond), and add two smaller diamonds. You can also opt for a smaller center-stone (a 1-carat diamond perhaps) and add smaller stones as a halo to make it appear larger.
Band setting refers to how the diamond is mounted or is held in place.
Solitaires (as with the images above) and Tiffanies are the most common type of diamond settings. It allows maximum light exposure while holding the diamond securely in place.
There are other diamond settings to choose from. Depending on the design, it may increase or decrease the value of your diamond.
read: Engagement Ring Settings: Choosing the Best Engagement and Wedding Ring Designs
Popular in rings to hold the diamond securely in place, Bezel rings wrap the sides of the diamond completely.
Before Tiffany’s popularity, bezel-type mounting is used to hold the diamond in place.
A bezel setting can increase your diamond ring value because of the additional metal to secure the stone in place.
Previously associated with vintage rings, cathedral-style engagement rings are gaining popularity once again.
Cathedral style is a setting where the diamond is placed on top of the ring’s shank (similar to prong style mounting) and is supported with a bearing underneath, and metals arch the side, similar to the metal columns found in cathedrals.
This style makes the ring more pronounced, especially when viewed from the side.
Jewelers and buyers alike customize the design of the cathedral, making it unique to the buyer. Depending on the intricacy of the design, it will increase the cost of your 2-carat diamond engagement ring.
Channel is a setting style where diamonds are placed in a “channel.”
This type of setting is usually popular in wedding bands, but modern engagement rings also get this type of setting.
Because of the added diamonds, Channel-type settings will increase the cost of your 2-carat diamond engagement ring.
Halo is another popular style for 2-carat diamond rings. Adding smaller diamonds around the center stone will create an illusion of a bigger diamond. The added diamonds also give additional sparkle to an already brilliant diamond.
The three-stone engagement ring is where you add two additional stones on each side of your center stone. It is gaining popularity since you can opt for other more affordable precious and semi-precious stones to make it more appealing.
The three-stone engagement ring is said to symbolize past, present, and future.
Another variant of the multi-stone ring is the cluster setting. Instead of just putting two side stones, multiple smaller stones are added around the diamond.
Added stones around your center-stone will increase the value of your ring. However, it is a great trade-off rather than opting for a bigger diamond, especially if you are working on a tight budget.
Pavé setting is another type where diamonds are “paved” and placed side-by-side in your metal band. Having a Pavé setting increases the cost of your diamond ring because of the additional stones embedded in your metal band.
The type of metal you use can affect the cost of your diamond rings.
The more popular metals used for wedding bands are Gold (yellow and white) and Platinum, and in some cases, Silver. Some jewelers also choose harder metals such as Titanium, Tungsten, or Cobalt, but these metals are more popular for men’s engagement rings or men’s wedding bands.
Read: Choosing the Best Metal for your Wedding Bands or Engagement Ring, Choosing the Best Metal for your Wedding Bands or Engagement Ring (Part 2)
The most popular of all is the 14K White Gold engagement ring. This meets the balance between affordability and durability. White gold is yellow gold but alloyed with white metals and is plated.
Other options available for gold are 10k, 18k, and 22k. Just note that the higher the karat, the softer and the more malleable the metal is.
On the flip side, the higher the karat, the more valuable it is, not to mention more hypoallergenic.
The key to the perfect karat is finding the balance between budget and lifestyle. While we all want to have the highest karat possible, it may not be ideal for persons with more active lifestyles or work requirements.
Another point to consider is getting a gold alloy that is hypoallergenic. While gold is regarded as a noble element and will not react to body chemicals, the alloys used to strengthen it might.
Just a reminder, when choosing white gold as your metal of choice, white gold will tarnish over time and appear slightly yellow. Thus, there is a need to re-plate it to get it back to its white glory.
Unlike White gold, where there is a need to re-plate, Platinum will not tarnish. It is also more durable than silver or gold, perfect for those with active lifestyles, but is also malleable, which allows being resized if needed.
Platinum, just like gold, is hypoallergenic but is also alloyed with other chemicals. Thus, check with your jeweler the alloy used with Platinum if you are opting for this metal.
Of course, you can choose any other metal you prefer. Silver is one of the metals that is also used, but because of oxidation, it’s less popular than Gold and Platinum. Silver is also soft and malleable and will easily dent and scratch.
Titanium rings are highly durable than other metals. However, because of its hardness, it is hard to do intricate designs. Resizing is also not an option for titanium rings.
Get the best 2-Carat Diamond Engagement Ring you can buy!
Getting the best ring takes a lot of research and consideration. The goal is to get the right factors that maximize and balance beauty and affordability.
Options give more room for customization but also lead to confusion. That is why we are here. AaLAND only employs professional jewelers with extensive experience in jewelry design and making. We will help you get the best diamond ring that will surely make your partner’s eyes sparkle like diamonds.