Avoid High Prices and Inferior Diamond Quality with these 6 Diamond Budgets

Avoid High Prices and Inferior Diamond Quality with these 6 Diamond Budgets


Why a Budget?

Shopping for a diamond engagement ring without a budget is like going into a jungle without a map or personal protection. You are exposed to hundreds of choices:

  1. Diamond:quality, shape, size
  2. Ring: white gold, yellow gold, platinum
  3. Brick and mortar:retail, wholesale
  4. Financing choices:cash, credit

Having a budget assures you have done your homework and have a basic understanding of diamond quality grades, setting types, while most importantly a firm understanding of what you can actually afford. For what it's worth a basic assumption is a diamond engagement ring should equal 2-3 months of your yearly earnings.

Guide to Understanding Diamond Solitaire Costs (includes cost of solitaire setting)

  • A budget of $750 - $1,200 will provide a Round Brilliant Cut Diamond Solitaire of D-G color, SI1 clarity weighing .25-.30 carats.
  • A budget of $2,000 - $3,000 will provide a Round Brilliant Cut Diamond Solitaire of D-G color, SI1 clarity weighing .50 -.55 carats.
  • A budget of $3,000 - $5,000 will provide a Round Brilliant Cut Diamond Solitaire of D-G color, SI1 clarity weighing .75 - .80 carats.
  • A budget of $5,000 - $7,500 will provide a Round Brilliant Cut Diamond Solitaire of D-G color, SI1 clarity weighing 1.00 - 1.05 carats.
  • A budget of $8,000 - $15,000 will provide a Round Brilliant Cut Diamond Solitaire of D-G color, SI1 clarity weighing 1.50 - 1.55 carats.
  • A budget of $16,000 - $25,000 will provide a Round Brilliant Cut Diamond Solitaire of D-G color, SI1 clarity weighing 2.00 - 2.05 carats.

Getting the sizzle but not paying for the steak!

  • D-G color diamonds are colorless to the top side of near – colorless.
  • SI1 clarity grade by GIA's definition is "eye clean" meaning you need a 10 X color corrected diamond loupe to see any flaws. It is important to insist on a "clean" SI1 Diamond Grading Report.
  • Minimum "Good" Cutting Polishing and Symmetry Grades. Avoid "Fair or Poor".
  • Diamond must have a GIA Diamond Grading Report.

Conclusion

By following the above guidelines you will get a great diamond and not pay for higher quality grades you cannot justify while avoiding lower quality grades with a misrepresented price.

Diamond Price Sheets

Please sign up to our Diamond Digest Newsletter (on the right) to be notified when our new Diamond Price Sheets are published or you can view the archived price sheets here

Frank Fisher

Author: Frank Fisher

Frank Fisher (Sasha Evdakov) started learning about diamonds at a young age through his cultural background and family influence. He spent years being mentored by the best diamond dealers and has been studying diamonds and the diamond market since 1998.