As described above, the cost of a 1-carat diamond engagement ring can vary greatly. But what affects this discrepancy in cost?
Well, a lot of things. But primarily, the overall grading of your 1-carat diamond will affect its price the most. The grading of a diamond is determined by the 4 Cs: cut, color, clarity, and carat weight. The better the grading of each of these factors, the more valuable the diamond will be, and the higher the cost of the ring.
For example, if your 1-carat diamond has a high grade for cut, it will reflect more light and appear more brilliant, making it more valuable. A higher grade for color means that the diamond will have less of a yellow or brown tint, making it more desirable and valuable. Finally, when a diamond scores a high clarity grade it becomes more difficult to see inclusions or blemishes within the stone (if there are any at all).
Another factor that determines cost is diamond shape. Round brilliant diamonds will always cost more than an Asscher-cut diamond or other fancy shaped diamond. This is because a round creates the most diamond waste from rough diamond and thus, will cost more.
Finally, the materials used and the style of 1-carat diamond engagement ring can greatly affect cost. In general, the more luxurious the precious metal the higher the cost. For example, a platinum diamond ring will cost more than a rose-gold diamond ring as platinum is more rare than rose-gold. Additionally, if you prefer glitzier styles that incorporate extra bling or features like two tone bands or a halo setting, you can expect to pay a bit more.