A 1 carat diamond costs how much in 2024? Before discussing 'carat' in diamonds, carat is a unit used to measure the weight of diamonds and gemstones worldwide. 1 carat equals 0.2 grams or 200 milligrams. By comparison, 1 carat is equivalent to 100 cents. For example, a 10-cent diamond equals 0.10 carats or weighs 20 milligrams.
The price of a 1-carat diamond in 2024.
A 1-carat diamond has a price range of approximately 80,000 to 600,000 baht in 2024. This variation is influenced by several factors such as the diamond's quality (the 4Cs: clarity, color, cut, and carat weight). Certification (Certificate) is crucial in determining diamond prices, with diamonds certified by the Gemological Institute of America (GIA) typically commanding higher prices than those without certification or certified by other institutions. GIA is widely recognized in the global gemstone industry.
Things to know about carat diamonds.
There are 2 fundamental rules to know about measuring the weight of diamonds:
1. Diamond Weight is Always Carat
Every diamond is measured in a unit called "carat," where 1 carat equals 0.2 grams or 200 milligrams. For example, a diamond weighing 0.5 carats would weigh approximately 100 milligrams.
2. Diamond Price per Carat
The price of diamonds is determined by their price per carat. Generally, diamonds with higher quality (such as beautiful color, no imperfections, and excellent cut) command higher prices. However, it's important to note that higher carat weight doesn't always mean higher prices. Diamonds are traded more based on preference rather than strictly by weight.
The globally referenced diamond prices.
Diamond trading often relies on the globally recognized price list called the 'Rapaport Price List' or 'Rap List' as a reference. Prices are typically updated every Friday and are more stable compared to the highly volatile gold prices. This makes diamonds appealing to those who prefer to avoid risks. Holding diamonds long-term can potentially yield stable profits.
Tips for buying diamonds.
In the Rap List table of diamonds, you will notice a significant price difference between D/VVS2 and E/VVS2 diamonds, but when comparing E/VVS2 to F/VVS2 diamonds, the price difference is less pronounced. This means that an F/VVS2 diamond may have a potentially lower price than a D/VVS2 diamond. The reasons for these differences may not be easily explained, as diamond trading often relies more on emotions than rationale. Therefore, choosing a diamond doesn't always require focusing strictly on high specifications, unless you have an unlimited budget or a specific preference for higher specifications.
To summarize, a 1-carat diamond updated in 2024 has a price range of approximately 80,000 to 600,000 baht, depending on various factors that can be verified from the Rapaport Price List, a global reference. Diamonds are often traded more based on emotions than reasons. For those looking to invest in diamonds, it is recommended to choose diamonds with higher specifications because they are generally easier to buy and sell. Diamond prices are relatively stable and suitable for long-term investment.
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