The Price of Diamond by Shape

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The most important consideration when it comes to purchasing authentic gem-quality diamonds is the price. Well, that is unless you have a million dollars or a vast sum in the bank that the cost of the diamond no longer matters.

Seriously though, when it comes to diamond quality there are a host of factors, and all of them exert an effect on the final price of the gemstone. When it comes to these factors, which often comes down to the 4Cs of diamonds. Which measures diamond quality in terms of the stone’s carat, cut, clarity and colour. Each of these four factors breaks down into a number of grades that affect the visual quality and hence the price of the stone.

However, there is another factor. One that is immediately visible to the causal viewer, but one that is despite its prominence, generally overlooked in the diamond quality and price scales. And that factor is the shape of the diamond. In this Education page, we will look at the role of diamond shapes in determining diamond prices.

What is Meant by Diamond Shape?

Since this is an Education page, let’s start by understanding what is meant by this term. The shape is an important feature in jewellery-quality diamonds, but it is often confused with other elements that make up diamond quality. The most notable is the diamond’s cut (which makes up the 4Cs), which refers to a host of quality factors that relate to the diamond’s symmetry, proportions etc.

Or often the shape of the diamond is confused with the particular faceting of the stone, which is interestingly also referred to as the ‘cut’ of the stone. The main cuts that are found in the gemstone world: are the brilliant, step and mixed cuts, which do exert some effect on the overall shape of the gemstone.

The shape thus refers to the overall look of the diamond: one that is easily identifiable. Thus the top diamond shapes in the industry feature a distinct look, often that relates to items and materials found in the world with which they have come to be identified with.

Now when it comes to classifying the top diamond shapes, there is some confusion, as the main entries that make up the top diamond shapes besides the round brilliant are considered fancy diamond shapes. This would include the famous princess and cushion shapes, followed by the less popular oval and pear-shaped diamonds are all considered fancy.

According to other measures, however, the main diamond shapes with the round brilliant in addition to the princess, cushion and oval are considered among the main shapes. The term ‘fancy diamond shape’ is reserved for less popular but stylistically interesting Emerald, Asscher, Heart, and Pear shapes.

Categorisation of diamond shapes aside, what truly sets apart one diamond shape from the next is of course the price. The main focus of this Education page is that the price is dependent on certain factors that define its shape. Which we shall look at next.

What Makes Certain Diamond Shapes more Expensive? 

When it comes to diamond pricing the idea of a diamond shape having an effect might seem a bit confusing. Considering that diamond price, and diamond quality more broadly is determined by the 4Cs that determine diamond quality: which are based on a diamond’s colour, carat, cut and clarity.

The reason why certain diamond shapes are valued more is that diamond cut quality is assigned mainly to the round brilliant cut. And in some rare instances, the princess cut (shape) is also included in this list. Thus owing to their absence from the official GIA quality measurement for the cut quality (one of the 4Cs) the other, fancy shapes are valued less as a general practice. So even before you get to the actual breakdown of the factors that affect diamond shape prices, the round and to some extent the princess shape will be priced higher.

But the question is how the shape of the gemstone have an effect on a diamond’s price. A general principle when it comes to diamond quality is the light-reflecting qualities of the gemstone. And round brilliant cuts are the undisputed leader in this regard. Despite being the diamond shape that produces the highest amount wastage of rough diamonds.

This is due to the positive combination that the round shape, when combined with the brilliant cut (faceting), produces excellent brilliance, however, it comes at the cost of a smaller stone for a comparable price. Unless of course, you want to pay more for a comparable carat.

So when it comes to pricing of diamond shapes, the round cut stands apart, other diamond shapes are a mixed bag, and often the price, whilst controlling for other factors, tends to come down to the quality of the symmetry and polish.

A key factor that affects diamond prices, one that is sometimes overlooked, is the demand for them. Which is always shifting. Much of it seasonal, or stylistic preferences driven by market trends. But often the price of diamonds is determined by the jewellery type, which in engagement rings is based on a number of other variables.

Diamond Shapes by Prices

The first point to consider is that when it comes to diamond prices, round cut (shape) diamonds stand apart from the rest. And really this is the only main factor to consider when it comes to diamond pricing based on the stone’s shape. Round cut diamond cost anywhere from 20 – 40 per cent higher than the next best cut.

However, when you go passed it, the prices between the various diamond shapes vary considerably, with fluctuations in final cost that are determined by market conditions. For example, the princess cut (shape) is arguably the second most popular diamond shape, however, it is not the second most expensive when controlling for other factors. The Marquise cut for example is among the more expensive shapes.

However, even among round diamonds, the most popular variety, the price of select stones in this range of stones (shapes) will vary in terms of the quality of the cut. With prices varying in terms of their depth: ideal, shallow, or deep. Something for round shaped diamond buyers to consider.

So here is a quick breakdown of the top diamond shapes and their prices in relation to:

• Carat: 1.00

• Colour: (D)

• Clarity: (VVS1)

• Cut: (Very Good Cut)

Note these numbers will vary depending on market conditions, and they are meant as a general indicator of how diamonds are priced. 

When it comes to the diamond price by shape, it is important to never lose sight of the 4Cs of diamonds. Which are always important. Notably the carat of the stone. In diamonds, this is important, since the price of a diamond increases considerably when it hits the 1.00-carat mark and upwards.