1 Carat Diamond Prices
The average price for a 1 carat diamond in Australia in September 2024 is $6,622.
However, this can range from $2,591 for a diamond with poor colour, clarity and cut quality to $21,599 for a diamond with top specifications.
Diamond carat prices are continually changing and you can see in the graph below that this has varied by 7.75% over the last year.
1 Carat Diamond Prices in Australia
| Month | Price ($) |
|---|---|
| Sep '23 | 6,622 |
| Oct '23 | 6,355 |
| Nov '23 | 6,197 |
| Dec '23 | 5,924 |
| Jan '24 | 6,109 |
| Feb '24 | 6,221 |
| Mar '24 | 6,293 |
| Apr '24 | 6,340 |
| May '24 | 6,770 |
| Jun '24 | 6,530 |
| Jul '24 | 6,384 |
| Aug '24 | 6,120 |
| Sep '24 | 5,921 |
How shape affects 1 carat diamond price
One of the biggest factors that affects the price of a 1 carat diamond is the shape of the diamond.
Different shapes not only offer distinct styles but also vary in cost due to factors like cutting complexity, demand, and how much of the original rough diamond is retained during the cutting process.
The table below show the ranking of 1 carat diamonds by shape:
In September 2024, the prices of 1-carat diamonds in Australia show a notable variation depending on the cut.
Round brilliant diamonds, at $6,634 AUD, remain the most expensive option. This is primarily due to their widespread popularity and the complexity involved in cutting them, which leads to a higher amount of rough diamond being lost during the process. The combination of strong demand and significant material loss contributes to their higher price.
Marquise diamonds, priced at $5,973 AUD, also sit towards the higher end of the scale. Their relatively high price can be attributed to limited supply, as there are fewer marquise diamonds available on the market. The shape’s elongated form makes it look larger than other diamonds of the same weight, which adds to its appeal, even though it is less commonly chosen.
In contrast, cushion and princess cuts are among the more affordable options, priced at $4,631 AUD and $4,748 AUD respectively. These cuts are more economical because they retain a greater proportion of the rough diamond during the cutting process, reducing waste and lowering costs. However, they tend to appear smaller when viewed from above compared to other shapes of the same carat weight. This can be a consideration for buyers looking to balance cost with the visual impact of their diamond.
Overall, these price variations reflect the interplay between the physical properties of each cut and their availability in the market, providing a range of options for buyers with different preferences and budgets.
