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Throughout
the century, diamonds have remained expensive, thanks to the
relative rarity of the stone and near-monopolistic control of
the diamond industry. Most of the major producers belong to
a marketing cartel that has kept a tight rein on supply, distribution
and prices. Consequently, it's difficult for consumers to find
bargain-basement sales and great discounts.
What does a carat cost?
Retail prices vary from one area of the country to another,
but a rough estimate of the cost of a diamond is as follows:
- 1/2-carat:
$1,000 to $3,000
- ¾-carat:
$2,500 to $5,000
- 1-carat:
$3,500 to $10,000 and up
Nationally,
the average cost of a diamond engagement ring is about $1,800.
Another
way to think about price is by differences in grade. It's estimated
that a stone will increase in value 5 to 10 percent for each
boost in color grade. It may jump 15 to 20 percent for each
increase in clarity grade. A "best" cut may be worth 30 percent
more than a "fair" cut. Finally, increases in carat weight cause
the price of diamonds to leap geometrically; a one-carat stone
of the same quality as a half-carat stone has twice the carat
size but may be three times as expensive.
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