How much is a 1 carat diamond worth? Asked Carolyn
I have a really nice diamond and I would like to find out how much a 1 carat diamond is worth. For me as a layperson, it’s nearly impossible to find out how much I can get paid for my diamond. I asked around but unfortunately I’ve got offered different prices so now I’m very confused . I really don’t want to give money away so which is why I need a reliable expert who gives me a serious statement to the value of my 1 carat diamond. I hope you can help me. Thank you.
Carolyn from Lakewood, Colorado
Hi Carolyn! Thank you very much for contacting the reDollar appraisers. My name is Tamay Rostan and I’m a GIA graduate diamond and gemstone expert. The value determination of diamonds is indeed a very complex issue and it needs expertise and experience to make a proper evaluation of a diamond. I fully understand that as a layperson you face a big question mark when it comes to the question “how much is a 1 carat diamond worth”. It’s my pleasure to help you and to learn you more about diamonds and the diamond grading factors that are important to determine the value.
reDollar appraiser, Tamay Rostan
Carolyn wants to know, how much is a 1 carat diamond worth?
Carolyn: Dear Tamay, thank you very much for your answer. I’m really excited to find out how much my 1 carat diamond is worth. Although I have a certificate for my 1 carat diamond, I was not able to find out the value.
Tamay: It’s fantastic that you have a certificate for your diamond. That’s very helpful for doing an appraisal from afar. It’s undisputed that the value assessment of diamonds is a very complex issue and nearly impossible for people who are no professionals. Please be so kind and send me a photo of your diamond certificate or grading report. Based on your diamond report I will determine the value of your 1 carat diamond.
Carolyn: Done! You should already have my certificate in your inbox.
Tamay: Thank you, Carolyn. I see you have an IGL certificate. IGL means International Gemological Laboratories. Your certificate and the diamond report shows the following basic characteristics of your diamond: The shape and cutting style is round brilliant. The measurements are 6.29-6.41 x 4.07 mm. We have an exact carat weight of 1.02 carats, a color grade E (which is very good and describes the color as colorless), a clarity grade of VS2 (means your diamond is only very slightly included), and a cut grade “very good”. All in all a very nice 1.02 carat diamond from very good quality. The diamond report gives also additional information of the grading characteristics polish, symmetry, girdle, and fluorescence. In that specific case we have a very good symmetry, a very good polish, a medium fluorescence, no culet, a thin-medium girdle, a depth of 64.1%, and finally a table of 56%.
Carolyn: Yes that’s right. So many characteristics are necessary to grade or evaluate a diamond? Amazing!
Tamay: Yes, that’s true. Diamonds exist in a huge variety and this cleverly devised system helps all diamond graders worldwide to determine the value of diamonds. It’s a well thought out system and absolutely indispensable.
Carolyn: What do you think, Tamay? How much is a 1 carat diamond like mine worth?
Tamay: Well, you can see on your certificate there is also an estimated retail price. This estimated retail price shows an amount of $17,230.00. But this is not the price you can expect when you sell your 1.02 carat diamond. First, it’s important to know when the diamond report was written. With diamonds it’s similar like with gold or other precious metals. The price changes with the time. So five years ago for example, we didn’t have the same prices for diamonds like today. The indicated retail prices of appraisals do not reflect the real market situation, these prices are good indicators for insurance purposes but you can’t sell your diamond to that conditions. On basis of the won knowledge from your diamond report and the current market situation I would estimate a fair resale value of $7,500-$8,500 for this loose 1.02 carat diamond.
Carolyn: Wow, that’s amazing. I did not expect that much money for my diamond. But why is the retail price on my diamond report significantly higher?
Tamay: The retail price should be an indicator but in the majority of cases it doesn’t reflect the reality and it’s not applicable on selling situations. Reliable grading laboratories such as GIA, AGL or UGL don’t give out any price information. Please consider that when you sell your diamond to traders or common diamond buyers you have to deduct their profit. The majority of loose diamonds will be sold to dealers and not to private individuals who would probably use the diamond for creating their own jewelry like a diamond ring for example. There are also investors on the market who buy diamonds for investment reasons but in general it can be said that they don’t buy their investment diamonds from private individuals.
Carolyn: Yes, your explanation sounds absolutely plausible to me. Thank you very much for your appraisal. I will discuss the further steps with my husband but your offer is really good. I’m really shocked what so called expert- diamond buyers in my neighborhood have offered me for my diamond.
Tamay: I’m not surprised to hear that. May you tell me what price you got offered from other buyers?
Carolyn: Believe it or not but they just offered me $1,000 – $1,250 for my diamond. Unbelievable!
Tamay: Oh, these offers are by far too low for a diamond like yours. Thank goodness you didn’t sell your diamond to these poor conditions.
Carolyn: Yes, it is unbelievable. Thank you so much for your honesty and fairness, I really appreciate it. I will discuss your offer with my husband and will touch base with you.
Tamay: Thank you, Carolyn. I look forward to hearing from you and it was a pleasure doing the appraisal for your 1.02 carat diamond. If you are interested in prices for diamonds please take a look at our Diamond Price List.
Carolyn: Thank you! You answered my question “how much is a 1 carat diamond worth” perfectly.
Tamay: You’re very welcome, Carolyn!