The weekend is upon us, and you know what that means. It’s time for another round of engagement ring shopping. By now, you have probably spotted similar rings with varying prices. What causes these discrepancies? The short answer is several factors. For example, some diamonds might have more imperfections that can’t be seen with the naked eye. Others might have slight color differences.

Pricing also changes depending on a diamond’s shape. Want to know how your ideal diamond is affected? We’re about to tell you more!

Diamond Shape vs. Diamond Cut

But first, let’s set you straight with a couple of important definitions. Diamond shape refers to the actual shape or outline of a stone. You can find diamonds in a variety of shapes, such as round, square and oval.

As you’re researching engagement rings, you’ll also come across the term “diamond cut,” one of the most important characteristics upon which diamonds are graded. Unlike diamond shape, “cut” instead indicates how well a gem’s facets (aka flat polished surfaces) interact with light. A gem’s cut plays a role in its cost too. But for now, we’ll just focus on shape.

Diamond Shape and Price

So, how are diamond shape and price connected? It primarily has to do with the cutting process. After natural and lab grown diamonds are created, gemologists use special equipment to transform them from rough stones into beautiful gems. Different methods are used to achieve each diamond shape, and chunks of the original stone are discarded during each procedure. Price is then determined based on how much of that original diamond is wasted.

According to jewelry experts, about 20-60% of a diamond can be discarded by the time it becomes a finished gem. In princess cut gems, for example, only 20% of the original diamond needs to be removed. That means princess shapes are generally more affordable than some other diamond shapes. Here’s a good rule of thumb: You’ll pay more per carat for a diamond if more of the original stone is lost during the cutting process.

Demand for certain diamond shapes also drives up cost. While “fancy” shapes, like oval and princess, have been growing in popularity, traditional round diamonds are still the top choice among engaged couples. In fact, The Knot’s Jewelry & Engagement Study found that more than 40% of pairs opted for this shape in 2021. Therefore, round diamonds will cost more per carat simply because they’re popular.

How Expensive is Your Ideal Diamond?

Your ideal diamond should ultimately depend on your partner’s tastes and lifestyle. If they prefer the classic sparkle of round diamonds, keep in mind that these stones are also most expensive. In addition to consumer demand, about 60% of the rough diamond is wasted when producing a stunning, polished version.

If you’re looking for something more affordable and unique, you can’t go wrong with a fancy cut diamond. These options range from oval and princess to emerald and cushion shapes. To give you an idea on pricing, here are rough costs for each shape from the International Gem Society. Note: These diamonds weigh 1.00 carat and have been given an “excellent” cut grading as well as a “near colorless” rating.

Round: $7,300

Pear: $5,800

Marquise: $5,600

Oval: $5,400

Princess: $4,800

Emerald: $4,500

Cushion: $4,200

Asscher: $4,100

Have a question? We can help!

Gage Diamonds is Chicago's premier jewelry showroom and online retailer of engagement rings, wedding bands, and fine jewelry. We offer a selection of dazzling handpicked diamonds, including certified natural and lab grown diamonds.

We’re committed to helping you find the ring of your dreams. For inspiration, browse our selection of natural and lab grown diamonds, or set up an appointment with a member of our trusted staff at our in-person showroom.

We offer no-credit-needed financing – feel free to apply and get your approval within 24 hours!

Pay over time, because love shouldn’t wait.