Diamond prices vary significantly by country due to taxes, markups, and local market conditions, with the United States often seeing higher retail prices because of taxes and markups, while places like India (wholesale), Antwerp (Belgium), Dubai, and Hong Kong can offer lower prices, especially in wholesale or tax-free environments, though overall cost depends heavily on the specific stone, seller, and import duties.
India: A World Leader in Diamond Cutting and Polishing
India's dominance in diamond cutting and polishing is unparalleled, with Surat processing around 90% of the world's diamonds. This efficiency allows India to offer competitive prices without compromising on quality.
The Cullinan — Up To $2 Billion
The Cullinan is the largest rough diamond of gem quality ever found, weighing an incredible 3,106.75ct . Discovered in Cullinan, South Africa in 1905, it was then gifted to King Edward VII.
Quality Grading & Certification Costs
Diamonds are expensive because they undergo rigorous grading and certification. Each one is graded based on the diamond 4Cs—Cut, Colour, Clarity and Carat Weight—which determines its value. A well-cut, colourless and flawless diamond is much rarer and commands a higher price.
Antwerp, Belgium, is often considered the epicenter of the global diamond trade. Home to the famed Antwerp Diamond District, the city processes over 80% of the world's rough diamonds and approximately 50% of all polished diamonds.
Let's take a closer look at the top three diamond-producing nations:
Some countries are famous for producing high-quality diamonds, like Angola and Namibia. Conversely, countries like Liberia produce a significant amount of industrial diamonds. Some countries like South Africa and the Democratic Republic of Congo have produced some of the biggest diamonds in the world.
Price Of 1 Carat Diamonds
When shopping for a diamond, the main factor that most buyers will consider is the number of carats a diamond will have. Depending on their cut, colour, clarity and shape diamonds that are worth 100 points or 1 carat will usually be priced between $2000 and $12000 AUD.
The Aquamarine name comes from the Latin word for seawater and is said to calm waves and keep sailors safe at sea. It is sometimes referred to as a poor man's diamond because of the pale color.
Red diamonds are the most expensive colored diamonds per carat, often exceeding $1 million per carat due to their extreme rarity. Only 20-30 natural red diamonds are known to exist worldwide.
A diamond appropriate for 75% of a $20k engagement budget could range from 1 to 2.50 carats, or even higher, depending on the shape, and how it's graded in other areas. It may even be able to get you a diamond 3 carat or larger stone if you opt for a lab-grown diamond instead.
Russia – 38 million carats of diamonds* Botswana – 23 million carats of diamonds. Congo – 16 million carats of diamonds.
Diamonds are thought to have been first recognized and mined in India, where significant alluvial deposits of the stone could be found many centuries ago along the rivers Penner, Krishna, and Godavari.
Engagement rings tend to be the cheapest during November and December, as well as the off-peak summer months like July and August. During these periods, many jewelers offer seasonal promotions or clearance sales to attract holiday shoppers or boost slower summer traffic.
Diamonds increase in value over time and don't offer short-term results. In fact, like other physical commodities, the price of diamonds fluctuates from time to time. The second mistake people often make is to pay too much. The first rule of investing is buying low and selling high.
This list showcases the most expensive diamonds in the world, each a symbol of opulence and prestige.
Gemologists and professional jewelers cannot distinguish between a lab-created diamond and a natural one through the naked eye. They would need a powerful microscope, specialized equipment, and laser-inscribed markings to look for the minuscule differences that indicate how the diamond was formed.
Because inclusions are more visible in diamonds with larger, open facets, you should pick VS1 over VS2 when choosing diamonds in shapes other than round (particularly in step-cut diamonds such as emerald-cut or Asscher cut).
3 key reasons we have the lowest prices:
We are a diamond manufacturer. We do not deal with the middleman. We run an incredibly efficient company so overheads are optimised.
Ten years ago, in 2003, a 2.00-carat Fancy Intense Yellow diamond with a VS+ clarity grade cost $5,000 per carat. Today, that same stones goes for $13,500 per carat.
One of the main reasons for this concern is that diamond mines are not infinite resources – eventually, they will run out. As Gemological Institute of America research scientist Evan Smith says, “For every diamond you take out of the ground, there's one fewer to be found.”
Benefits to buying Russian diamonds
Jewelers often sought out stones from cutters whose craftsmanship aligned with high-end, luxury aesthetics. Over time, these cutting traditions developed reputations for producing diamonds that were durable, well finished, and capable of lasting for generations.
Top Countries for Cheap Diamonds