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How The Diamond Magic Numbers Can Help You Save Money
What Are The Diamond Magic Numbers?
When pricing diamonds, Rapaport, the company responsible for pricing diamonds, price diamonds according to various brackets. One who is familiar with the 4 Cs of diamonds will know that diamonds are mainly priced based on their carat weight, color, cut and clarity grade. When it comes to the carat weight of a diamond, there are several price brackets, meaning that in many cases a customer can save a lot of money by simply purchasing a similar stone that is 0.01 or 0.02 carats less. The brackets that help dictate the vast changes in price are referred to as Diamond Magic Numbers, or Carat Magic Numbers.
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What Are The Diamond Magic Number Brackets?
A customer can save up to 50% by purchasing a diamond 0.01 carats below the bracket. The diamond trade purchases loose diamonds using the following ranges:
Diamond Cutters And The Magic Numbers Of Diamonds
Diamond cutters try hard to cut a diamond in a way that they will be able to maximize the carat weight of the stone and ultimately keep it within the highest possible price range. Occasionally, diamonds need to be re-cut, meaning that they stand to lose some of their carat weight.
High In Demand Carat Weights
Other than the magic numbers, prices can rise by up to 12% for loose diamonds with carat weights that are high in demand. Diamonds with high clarity and color grades are usually more in demand, meaning they will most likely have higher premiums should they be in the carat weight brackets. Ranges that incur these higher prices include 0.95-0.99ct, 1.25ct-1.49ct and 1.70ct-1.99ct. Avoiding these price brackets, where possible, will help you save money.
Diamond Magic Number And Buyer's Tips
Knowing about the diamond magic numbers can be useful when purchasing loose diamonds and diamond jewelry, saving you money. This is particularly helpful for customers who do not have a specific carat weight in mind, as well as those who have not yet purchased the diamond ring or diamond pendant for the diamond to be set in. The most important carat weights to bear in mind when purchasing diamonds is 0.90 carats, 1 carat, 1.5 carats, 2 carats, 3 carats, 4 carat and 5 carats.
For example, a princess cut loose diamond with an H color and VS1 clarity grade weighing 2 carats costs $20,600. The same diamond with a 1.99 carat weight costs $14,530, meaning that by purchasing a diamond just 0.1 carats less, you stand to save over $6,000, almost 30%. In contrast, the difference in price between a diamond with those specifications weighing 2 carats and one weighing 2.01 carats is only $1,030. With larger stones, or those with higher clarity and color grades, such as a stone with an E color and VVS1 clarity rating, particularly brilliant round cut diamonds, the difference can be up to 40% and in some cases more.
If you would like to know more about diamond magic numbers or any other aspects of purchasing diamond jewelry, we can always be contacted on 1-800-557-7095 where one of our expert diamond jewelers will be happy to assist you. Alternatively, you can email us at [email protected] with any questions you may have.