How Much Are Diamonds Worth? This Is What You Should Be Paying
Are you wondering how much are diamonds worth? If yes, you should check out our price guide here to learn what you should be paying for diamonds.
Diamonds are one of the most valuable minerals in the world. Whether you're an investor, geologist, or jewelry enthusiast, understanding its value is critical to your trade.
With different types of diamonds and related products, how much are diamonds worth? You have diamond bracelets that cost under $100 and rare blue diamonds that fetch a staggering $57 million at auction!
What is true is the old saying by Mark Twain, "Let us not be too particular; it is better to have old secondhand diamonds than none at all."
They're no longer for elite society alone. Diamonds are so entrenched in American culture, they've found their way into trendy thrift stores and big box retailers. They're also the hidden ingredient behind many of your favorite electronics.
Have you always been fascinated by diamonds? Learn more about the value of diamonds, and discover tips for buying your first products.
Consumer Diamond Types
If you're an aspiring jewelry designer or seller, you'll need to know the prices for different types of diamonds.
Consumers need to know the average cost of diamond engagement rings by quality, cut, and carat. The same goes for diamond necklaces, bracelets, watches, and more accessories.
Diamond types are broken up into "consumer" categories and "technical" classifications. There are certain traits that consumers look for (and understand) as opposed to investors and gemologists, for example.
Consumers focus on four primary types: natural, treated, color, and man-made diamonds.
Natural diamonds are colorless. These are your classic white diamonds found in engagement rings and other timeless jewelry. A natural diamond engagement ring will run you about $3,000 to $5,000 on average.
The next type is treated diamonds. These diamonds come from the same source as a natural diamond. However, they undergo additional treatment processes to enhance its aesthetic quality. You can find treated diamonds for as low as $1,000 to upwards of $5,000 via Google Shopping.
Man-made diamonds are the next type consumers consider. These diamonds are not extracted from a mine. Instead, they're grown inside a scientific laboratory by mimicking natural crystallization.
As a comparison, naturally-occurring yellow diamonds can sell for tens of thousands on the market. Man-made yellow diamonds are valued lower at $4,000 on average.
Natural yellow diamonds are some of the most sought-after diamonds on the market. They fall into the fourth and final type of diamond, which are colored diamonds. These account for some of the most expensive diamonds on the red carpet.
Diamonds are also valued by their chemical makeup. Rather than focusing on man-made vs. natural diamonds, investors and gemologists look at chemical impurities and atomic structures to determine value.
Diamonds fall into the following "technical" categories: Type Ia, IIa, Ib, and IIb. You should have a solid understanding of the scientific process of crystallization and how crystal lattices are formed.
Type Ia diamonds are the most abundant. These have a golden tint because their reflected light looks yellowish, as opposed to blue. The stable aggregates in the diamond absorbed the visible blue light on the color spectrum.
Type IIa diamonds undergo high pressurization for longer. That's why type IIa diamonds come in irregular shapes.
They're technically the rarest diamonds, as well. These diamonds are highly sought by investors and collectors alike. These diamonds contain barely any oxygen, so they sparkle more than the average diamond.
Highly prized canary diamonds are valuable yellow stones that fall into the type Ib category. These rare diamonds take on golden, yellow, and even brown hues when light travels through the mineral.
The final classification is type IIb diamonds. These also have little nitrogen present. They're also more conductive than other diamonds, so you'll find them hiding in computer chips and electronics.
How Much Are Diamonds Worth in 2020?
Diamond prices aren't static. If you're serious about diamonds, it's vital to stay updated on the latest diamond prices and values. This is essential for millennial engagement ring buyers who are looking for a bargain.
One way to understand prices is to go by carats.
As a "rule of thumb," you can generally expect a 0.5-carat diamond to be around $1,500 in value. A 1.0-carat diamond will land between $4,500 and $6,000 on average.
2.0-carat diamonds are the most expensive for the average consumer. These can range anywhere from $18,000 to over $20,000 in value! That's an expensive engagement ring.
If you want to save money, but still buy a high-quality engagement ring, stick to 0.5 carats. If you're going to splurge, try to find a 1.0-carat ring in the $4,000 range.
How to Increase the Value of Your Diamonds
Do diamonds grow in value over time? The answer depends on a few factors.
Diamond values have fluctuated over the years, like other precious metals, minerals, and natural resources.
One of the most reliable indicators of diamond value is simple supply and demand. For example, whenever a mine is discovered, that creates a higher quantity of diamonds, which pushes the price down. On the flip side, when there are few mine discoveries, supply shrinks, and demand skyrockets.
Inflation also has an impact on diamond values.
This is one way to gauge if your diamonds will appreciate over time. Diamonds bought in the 1950s are far more valuable now because of inflation. If the diamond is a rare type IIa, it's even more valuable.
Some investors and collectors even document the value of their diamonds. The Gemological Institute of America has a diamond certification process. GIA will analyze your diamond and produce a detailed certificate that you can take to an appraiser.
Appraisals are good to have when you're selling valuable diamonds on the market. They're excellent for certifying the value of your family jewelry and other diamond heirlooms.
Discover How Much Your Diamonds Are Worth
You now understand the process behind diamond values. How much are diamonds worth in your future? Use this guide as you navigate the ins and outs of diamond collecting and investing.
Adding diamonds to your life is the start of a new attitude toward style and collecting. Do you need more ideas to inspire you? Entertain yourself with the latest tips and trends for epic lifestyles!