To understand diamond prices is a bit complex for newbies. Diamonds are valued on per carat basis. Carat is a standard measurement unit for weight. Just, as kilograms or ounce for gold, the term “carat” is used with diamonds. 1-carat diamond weight equal to 200 milligrams. Check the below link to know more about diamond carat or ignore & read further if you already know.
Read Now – Diamond Carat Weight – (Very Important Read)
I believe you have read the above article, as it’s important to know first about diamond carat and then about diamond pricing.
How is Diamond Value Calculated in Trade?
Diamonds price is always calculated on per carat basis, whether you buy 0.32 carat, 1.27 CT, or 3.04-carat diamond. Let do some math to make it easy. For example,
Formula: Diamond Cost = Carat Weight * Price Per Carat
Price for 0.32 carat is 850$ per carat, 1.27 carat is 1800$ per carat & price for 3.04 carat is 4100$ per carat which means :
A ) 0.32 * 850 = 272$ Total for 0.32 ct
B) 1.27 * 1800 = 2286$ Total for 1.27 ct
C ) 3.04 * 4100 = 12464$ Total for 3.04 ct
But all the major online diamond vendors display the total price, so you don’t have to do math all the time. If you buying a diamond from the diamond manufacturers, prices are quoted per carat basis. So, make sure with a salesperson before taking any further decision.
Who set these “Price Per Carat” values?
Most of you might be wondering, from where does these price per carat numbers come from? Well, there are two major organizations named as RAPAPORT & IDEX. They set the price per carat from 0.01 to 10.00ct for D-to-N color and FL-to-I2 clarity. However, the RAPAPORT diamond price list (RAP List) is most commonly used in all major countries. For diamond shapes like princess, oval, heart, etc. Rapaport releases a common price list for all fancy shapes and another list for round shaped diamonds.
Before, the Rapaport price list was only available to trade members. But, now you can buy one at 50$ from the Rapaport website. These price lists are updated weekly based on demand, supply & other factors. Don’t worry to buy new price list every week as there are very few % changes or no changes. Or you can even simply comment below your diamond’s carat weight, color, clarity & shape. We don’t mind sharing the latest diamond price as per the RAPAPORT price list.
How To Read Diamond Price List?
So, above we have a sample copy of Rapaport Price List. Let us learn how to read it. For eg, You have to check the price for 1.01 carat, H color, VS2 clarity stone. To know the diamond price you need to know 3 things. Weight, Color, & Clarity of diamond.
As you can see on the above price list image there are different values for every diamond. Here we have 4 different carat weight segments which further can be read in a matrix. So, For 1.01 carat, we have to look at the 1.00-1.49 ct price segment. Then, check color & clarity verticality and horizontally within the matrix.
All the values are in hundreds. So the price for 1.01 H VS2 is 6300 USD per carat. As this is an old price list just used for reference and example. The price per carat for 1.01 H VS2 is 7600 $ ar per Latest RAPAPORT price list
Get Latest Diamond Prices 2020 August – Rapaport Price List
In order to know the latest Rapaport price you can comment below your diamond’s weight, shape color & clarity. We will revert back with the latest 2020 august diamond prices.
These are not standard prices for the diamond, It’s just a base price list.
Rapaport price is the base price on which diamond dealers provide more discount or ask premium depending on diamonds. This makes diamond dealers compete with each other.
What is Back/Discount & Premium from Rapaport Diamond Pricelist?
A) Discount – Percentage of the discount applied to Rapaport base price. Term Discount, Back, Below, Less all are the same & commonly used in trade.
B) Premium – Percentage of addition in price from Rapaport base price. Means X% addition of list price. This happens in very fewer cases.
Example For Discount – 1.01 H Vs2 3EX ( excellent cut, excellent symmetry, excellent polish) with NONE fluorescence is available at a 34% discount. It’s similar to “15% off at Nike Shoes”. Let do some math and make it more simple.
RAPAPORT PRICE – % Discount = Price Per Carat * Diamond Carat weight = Total Price
6300$ – 34% = 4158$ per carat price * 1.01 Carat weight = 4199.58 Total price
In case of premium, you have to add % to the Rapaport base price and multiply with carat weight for the total value. (opposite of discount, you have to pay more than list price)
One diamond dealer might provide 1.01 H Vs2 cheap at a 40% discount and others might provide at a 32% discount. WHY? Read further.
Understanding Diamond Price & Find Real Value.
Pricing simply does not rely on the diamond’s color, clarity, and carat. There are a lot of other factors that determine a diamond’s value. Like, you can even buy GIA 0.50 ct I SI1 at 45% discount (cheapest) or another similar stone at 35% discount (expensive)
What makes such a huge difference in pricing with similar certified diamonds?
Factors like diamond fluorescence, diamond cut, symmetry, polish, etc affect most. Another major factor that affects the diamond price is its “CLARITY”. A VS2 diamond with center black crystal will be cheaper and a VS2 diamond with eye-clean will cost more. Let see the below example screenshot from James Allen. How price changes despite all other things ( fluorescence, cut, polish, symmetry) remain the same. It’s due to NICE VS2 and BAD VS2 in simple words.
This might shock you, but many people ripped off paying more for BAD VS2 kind of diamonds. The above example shows how there is a 700 US dollar difference in 2 diamonds while other things remained the same on diamond certificates.
Hence, it quite important to learn all things before making a final purchase. Or even you can send us an email asking your question. I would be the happiest person to provide you with unbiased views and recommendations – Get Free Diamond Buying Help Now
I always recommend you to buy GIA or AGS certified diamonds. Just in case if you are buying a loose diamond without any certificate, Then appraising a non-certified loose diamond on the base of the RAPAPORT price list is not a good idea. As you don’t have authenticity reports from trusted labs or sources. Hence, without knowing the actual stuff you cannot judge the price, right?
Want to know the latest August 2020 RAPAPORT PRICES? Comment below 4 things; Diamond’s carat weight, color, clarity & shape. We will share the latest diamond price.