What Are Diamonds?
Here’s a quick geography question: are diamonds formed from coal? Not really – your average diamond forms in high pressures and heat deep in the earth, not necessarily requiring coal. It takes something big (usually a volcanic eruption) to bring out this diamond layer to the surface, which is the reason why diamonds can be so expensive and rare.
Once a miner gets their hands on a diamond, it’s not shaped like the flawless, faceted ovals that we see on TV and movies. Each diamond has to be cut, polished, and set properly before it’s sold.
It IS possible to get artificial diamonds, but they require a lot of resources to produce and don’t always come out perfectly. It’s much easier to mine quality diamonds than it is to make them. Seems like mother nature still has the edge over us when it comes to creating shiny things!
How Are Diamonds Graded?
So how does a diamond get its value? There are four criteria (or four Cs) that jewellers use:
- Clarity: All diamonds come with imperfections, either on the surface or in the diamond itself. Some gems are clearer than the others and are thus valued at a higher price.
- Cut: That halo of light isn’t coming from the diamond itself: it’s how the cut angles catch and reflect light. For example, a brilliant-cut round diamond sparkles better than cushion cut one.
- Colour: The clearer the diamond’s colour, the more valuable it is.
- Carat: Diamonds can be light or heavy, depending on how much of it is packed into the raw gem. The heavier the diamond, the higher the carat, and the more expensive it becomes.
Grading can be done by a professional (usually any of the gem grading companies such as the GIA, AGS, or EGL) or jewellers and gemologists (those who study gems).
How Much Is A 2-Carat Diamond?
For a 2-carat diamond ring, prices will hover from AUD 9,000 to AUD 100,000. Carat alone isn’t enough: as we’ve seen, there are three other ways of determining a diamond’s value, and where your particular gem lands on that scale can drastically affect the price.
That’s also why 2-carat diamonds don’t cost twice as much as a 1-carat diamond. Since the process that makes these gems can be so unpredictable, pricing them works on a scale rather than a benchmark. Even if the diamond scores highly on all the 4 C’s, the final cost is pretty much up in the air.
Besides, there’s one last thing that can affect the final price of a 2-carat diamond ring.
If You Like It, Put A Ring On It
You weren’t expecting to get just the diamond itself, right? The setting of a diamond into a ring can cost you just as much or even more than the diamond itself. There ARE ways to cut down on the cost, like using a solitaire setting (where you just set the diamond on the ring) instead of a more elaborate arrangement.
Fortunately, you have more leeway on the ring’s pricing than the diamond itself. Depending on the brand or maker, you can get a considerable discount if just the diamond needs setting. But if your particular diamond needs to be cut or polished, prepare to pay a lot more – that’s a big reason why 2-carat diamond rings often come in one piece, it’s just easier on the finances.
Shining, Shimmering, And Definitely Splendid
Even if they’re all equally valuable, no two diamonds are alike. You must pay close attention to what exactly you want out of a 2-carat diamond ring – it’s a considerable investment that will always keep its value. But if you take the time and the effort to choose the best one you can afford, it’ll be a shimmering accessory that will always keep its shine.