2 carat diamonds are breath-taking. They stand out on her finger and catch the eye of everyone around her. Her ring becomes the center of attention, and you get to proudly stand there as she shows off her gorgeous rock to friends and family.
But when it's time to buy the diamond for her ring, you can easily end up severe with sticker shock if you start asking to see 2 carat diamonds! Spoiler alert: 2 carat diamonds cost much more than 1 carat diamonds.
It seems logical that if you can get a 1 carat diamond for around $4,000, that you'd be able to get a 2 carat diamond for $8,000...right? Unfortunately, that's not how diamond pricing works.
Let's take a step back. Let's look at the factors that affect diamond prices and see why a 2 carat diamond will end up costing you a lot more than a more classic 1 carat diamond:
First, what contributes to the price of a diamond?
There are a lot of different factors that contribute to the final price of a diamond. It would be impossible for us to say a 1 carat diamond costs X amount, a 1.3 carat diamond will cost you X, etc. It doesn't work like that. A one carat diamond can range anywhere from $2,000 to $20,000 depending on a number of different factors.
So what are these factors? Well, one of the biggest influencers on a diamond's price is something you've probably heard of by now - the Four Cs. A diamond's cut, clarity, color, and carat weight all heavily influence the value of any stone.
Diamond cut refers to the angles and proportions of a diamond that will reflect light back to your eye in a certain way. If a diamond is cut properly, chances are that the light will enter the diamond and be reflected back to your eye in a way that shows the stone's brilliance...aka sparkle. Clarity refers to how many inclusions or imperfections are present in the stone, and color is a measure of the amount of color that can be seen in the stone, usually yellow or brown. Stones that are flawless (no inclusions) and colorless (no yellow or brown) will be much more expensive because they are more rare and beautiful.
What does a 2 carat engagement ring typically cost?
Now that we know all of the factors that can contribute to a diamond's price, let's explore the 2 carat stone a bit more. We know that there isn't one price that would cover every 2 carat stone in the market. However, the typical range for 2 round carat diamonds is somewhere around $8,000-$50,000. Pretty vague right? That's because if you choose a 2 carat diamond that is flawless, colorless and perfectly cut, then you'll end up paying closer to $50,000 or more. If you choose a 2 carat diamond that has slight inclusions and noticeable color, then the price might be closer to $8,000 or less.
Why is a 2 carat diamond so much more expensive than a 1 carat?
The fourth "C" that I didn't cover in my last explanation was carat weight. Carat weight can heavily influence the price of a diamond. As a diamond gets larger and increases in carat weight, it becomes more rare. That's because it's much harder for a diamond cutter to find a good piece of raw material to cut into a beautiful 2 carat stone than material to make smaller diamonds.
The price mechanics for a diamond don't always make sense at first. You would think that a 1 carat diamond that costs $4,000 would cost only $8,000 as a 2 carat stone, a 3 carat diamond would be $12,000, etc. However, as we've discussed already, as diamond carat size goes up, so does the stone's rarity. The price of a stone goes up exponentially as the carat weight increases. Here's a chart that illustrates this point:
This chart represents average prices for round diamonds with a G color, VS1 clarity and ideal cut. You can see from this chart that a 1 carat round diamond with these characteristics starts around $7,000 and increases all the way up past $20,000 for a 2 carat diamond. As the carat weight increases, the price rises quite significantly.
But...she wants a 2 carat diamond
If she's expressed to you that she wants a 2 carat stone, it's important to understand what she really wants. If she genuinely wants a 2 carat diamond and it's way above your budget, it might be time to have a discussion to get on the same page.
There are also many ways to achieve the look of a 2 carat diamond without having to break the bank. A trick we often tell people about is to go for a diamond halo setting. By adding a ring of smaller diamonds around the center diamond, it creates the illusion of a much larger diamond. It's a big reason why this is the top trend for engagement rings over the past few years. Another trick is to add diamonds along the side of the ring's band. You can have the entire ring add up to be 2 carats total weight with smaller diamonds surrounding the center diamond. You'll still be able to get a beautiful, sparkling ring without having to pay for a rare 2 diamond center stone.