It’s never easy trying to determine the price of a diamond. The actual value of a diamond gets established using several factors. Well, this is what the experts will tell you anyway. But when it comes to it, it doesn’t need to be as complicated as some make it sound.
Explaining Diamond Prices
Simply put, the value of any diamond is set by its appeal. In a bid to regulate the diamond industry and come up with a simple comparison method, the GIA established a diamond grading methodology, which is today known as the 4C’s of diamonds.
In this case, the 4C’s are meant to stand for:
- Cut
- Color
- Clarity
- Carat
While diamond dealers look at several factors before assigning a value, this grading system does the trick, as it’s meant to provide you with accurate estimates of its value.
It works by comparing one diamond to the other to help come up with the final price. What this means is that the only thing missing is a chart to tell you How much is the diamond worth? How much does a given diamond cost?
To assist in filling this void, Martin Rapaport came up with what is today known as the diamond price chart. In some circles, it’s referred to as the diamonds price index or the diamonds pricing list.
The Diamond Price Chart
Invented in 1978 by Rapaport, “The List,” also known as The Diamond Price Chart, refers to a matrix intended to provide a benchmark for determining the value of a diamond. It works by referencing the 4C’s mentioned earlier.
Considering that there are 4C’s and a typical matrix has two dimensions, it means there exist numerous price lists. Each list is in the form of a weight group. Furthermore, while Cut is deemed as the most important of the C’s, it’s not captured in this chart.
However, it does make an appearance in the form of weight, which refers to diamonds that have been discounted due to their poor cut. A look at the chart shows that each weight class is represented by a matrix/cube.
On the left side of the list is the diamond’s color, while the top part indicates its clarity. For one to know the true value of their diamond, they need to establish its weight class matrix and then crosscheck this with the column representing the clarity and row representing color.
It’s essential to note that all the results are given in hundreds. And more importantly, diamond pricing is done per individual carat.
Diamond Price Calculator
Regardless of whether you want to buy a diamond engagement ring or assess the value of your current diamond, you can trust this diamond value calculator from Pricescope. Pricescope is a renowned source of diamond news, including tips on how to buy the perfect engagement ring.
The calculator works by analyzing tens of thousands of diamonds. When you click on the search button, it conducts a background search before displaying the information you are seeking.
Conclusion
There are tons of reasons why a diamond owner may want to assess the value of a diamond. As seen above, it’s possible to do so on your own. But if you aren’t sure you can do it, don’t shy away from consulting with a diamond expert.
