An engagement ring is an investment, but that doesn’t mean the budget goes out the window. There are plenty of ways to maximize your budget and walk away with an incredibly valuable engagement ring. If you have your eye on a two-carat diamond for your engagement ring, we can help you understand how much you are going to spend and what to prioritize to spend a bit less.
A few questions to consider when shopping for a 2 carat diamond are “How much does a 2-carat diamond cost?” and “How big is a 2 carat diamond?” We will answer these questions, among others, below to help you maximize your budget and find the right diamond for your engagement ring — whether you are shopping at an old fashioned jewelry store or a simulated diamond shop.
What is a 2 Carat Diamond?
A 2 carat diamond is a diamond that weighs 2 carats, or 400 milligrams. Diamond carat weight is influential on diamond size, but it is not the same as diamond size. 2 carat diamonds come in all shapes and sizes and can be used in all kinds of styles and settings of engagement rings and other jewelry.
A two-carat diamond is thought of by many as a perfect diamond for the center stone of a diamond engagement ring. Its size is substantial but not over-the-top. Its cost is also substantial, but not entirely unattainable.
So how much is a 2 carat diamond really? 2 carat diamonds cost anywhere from $8,000 – $50,000 for the loose diamond. This doesn’t include the price of the ring setting, labor for custom design, or any additional diamonds included in the setting.
So how much is a 2 carat diamond really? 2 carat diamonds cost anywhere from $8,000 – $50,000 for the loose diamond. This doesn’t include the price of the ring setting, labor for custom design, or any additional diamonds included in the setting.
As you can see, diamond pricing varies greatly because it is based on far more than just carat weight. The final price of a loose diamond is dependent on all aspects of its quality. Let’s discuss these unique factors that contribute to the cost of a diamond.
What Factors Influence the Cost of a Diamond?
Diamond quality, and thus value and cost is determined by a strict set of standards established by the Gemological Institute of America (GIA). These standards apply to the diamond’s cut, clarity, color, and carat weight, nicknamed the 4Cs of the diamond. In terms of diamond price, we have already discussed carat weight, so here we will dive into the other attributes which are most important when shopping for a 2 carat diamond, in particular.
- Ideal
- Excellent
- Very Good
- Good
- Fair
- Poor
A round brilliant diamond with an “ideal” cut is the most sought-after diamond because of its timeless style and eye-catching symmetry and sparkle. A 2 carat round brilliant will emit incredible brilliance. It is also an incredibly versatile choice as it will look good on any hand, with any precious metal, and in any setting. Regardless of what shape 2 carat diamond you choose though, prioritize a cut that is at least Very Good to achieve a stunning appearance and maximum brilliance.
Clarity
Clarity refers to how many inclusions and/or blemishes a diamond has. Diamond clarity is graded on the following scale:
Clarity is graded by gemologists viewing the stone under intense magnification. The differences between clarity grades that are right next to each other on the scale such as VS1 clarity and VS2 clarity will be unnoticeable to the untrained eye. In fact, most inclusions are not noticeable at all to the naked eye without magnification. Even when the differences are unnoticeable though, the clarity grade does impact the price of a diamond. For this reason, you can maximize your budget by selecting a 2 carat diamond with a lower clarity grade as long as it is “eye clean”.
Color
The color of a diamond also impacts its price. Now, you may be thinking that diamonds are clear or colorless, but in actuality, all naturally mined diamonds have hints of yellow or brown that come from years of exposure to the earth’s elements. These hints of color can be hardly noticeable or very noticeable. GIA grades color on the following scale:
- Colorless (D-F)
- Near colorless (G-J)
- Faint color (K-M)
A colorless diamond of 2 carats will be on the very high end of the price range (remember it’s $8,000 – $50,000). However, most diamonds with a near-colorless rating have hardly noticeable color. Shop for 2 carat diamonds with color grades G, H, or I. This is where you will get the most for your money.
Shape
While not one of the 4 Cs, different diamond shapes do play into how much a diamond costs. Round diamonds are the most sought after, and thus, can be the most expensive. Additionally, some shapes appear larger than other shapes of the same carat weight because more of their weight is “face-up”. Diamond shapes that tend to carry most of their weight along the surface include trillion-cut diamonds and marquise-cut diamonds.
In addition to all the factors that go into the cost of a diamond, when shopping for a 2 carat engagement ring, you need to consider the cost of the setting as well. While the simplest of settings will only set you back $500-$1000, settings that include additional diamonds will add thousands of dollars to the overall cost of the ring. The least expensive diamond ring settings are solitaire settings made simply of metal. The most expensive settings are three-stone settings with diamond side-stones of substantial carat weights.
The setting, however, can also contribute to the sparkle of your ring, and enhance the appearance of the center stone. For example, halo settings will make the center stone appear larger and make the overall ring sparkle more. Settings with sparkly side stones such as cushion cut diamonds or round cut diamonds will also enhance the overall brilliance of the ring. You can use these “tricks” to make a slightly smaller carat diamond appear slightly larger.
The metal you choose for your ring setting will also influence its price. White gold, rose gold, and yellow gold are all comparable in price, but platinum is the most expensive and silver is the least expensive.
1 vs 2 Carat Diamond
So what’s the difference and what carat diamond is best? When comparing a 1 carat diamond and a 2 carat diamond, you will notice two major differences: their weight and their price. Here we discuss the key differences and why they matter.
Weight
Price
Another big difference between 1 and 2 carat diamonds is the price. There is a dramatic increase in cost from 1-carat diamonds to 2 carat diamonds. While 1-carat stones cost anywhere from $2,000 – $20,000, 2 carat stones range from $8,000 to $50,000. This is because, the larger the carat weight, the rarer the diamond. It becomes more difficult to find a raw stone large enough to cut a 2 carat diamond from than a 1-carat and exponentially more difficult as you increase from a 2 carat to a 3-carat diamond and so on. 1-carat diamonds are far more abundant than 2 carat diamonds, and less desirable because of their size and availability, so given supply and demand, once again, they are much less expensive. If you are wondering how much is a 3 carat diamond, see our blog for more information like our diamond cut scale.
Pricing Your 2 Carat Diamond Ring
If the look of a 2 carat diamond is really what you want, but the price feels out of reach, you may want to consider a lab-grown diamond or diamond simulant. Lab grown diamonds and diamond simulants look like real diamonds but are less expensive than mined diamonds because they require fewer resources to be created.
At Diamond Nexus, we offer diamond alternatives that are completely colorless, ideal cut, and internally flawless. Our stones most closely imitate the look and wear of completely perfect diamonds. Browse our selection of loose stones to find the one that’s right for you.
Sources:
*Here at Diamond Nexus, we strive to provide valuable information while being clear and honest about our products. The Nexus Diamond™ alternative is a patented lab created diamond simulate that, among all simulants, most closely imitates the look, weight and wear of a diamond, with two exceptions – it is absolutely perfect in every way, and it costs significantly less. Price points and environmental facts expressed in this blog were taken from popular online retailers and may vary. Learn more about the environmental impact of mining by visiting our blog.