Once you’ve gone through the steps to determine cut, color, and clarity, carat can easily be determined to fit your budget. Many often mistake carat as to what size the diamond will be, however it actually refers to the weight of the stone. 1.00 carat is equal to 200 milligrams. 

How does carat affect price and size?

While many still believe the higher the carat the bigger and better the diamond, that’s simply not true. Having a higher carat and poor clarity versus a smaller carat and better clarity can make a significant change in how your diamond looks and costs. One of the main contributing factors to why there is such an exponential price difference is rarity. Higher carat weight diamonds are cut from one large rough crystal which are scarce to come by. However not only must you find rough crystals but also a crystal that meets the criteria of internal and external characteristics that make a great diamond. 

Tips on buying a Diamond: 

-Magic Sizes: Magic sizes are diamonds with carat weights just shy of the half carat and whole carat size. Example: Instead of buying 1.00 carat diamond, consider a 0.90 carat weight and you’ll notice a substantial price difference but never the size difference to the naked eye.

-Fancy shapes cost less per carat: There are so many beautiful diamond shapes out there that have more advantages than your typical round diamond. Fancy diamonds are typically less expensive per carat and also sometimes appear larger than the actual carat weight.