What is the budget required to buy a diamond?

As you may know, diamonds come in many different qualities. Therefore, we need to have a general idea of the size of the diamond we want, how high the color (whiteness) should be, whether we prefer pure white or if we are okay with a larger, slightly off-white stone, whether clarity is a priority, and what the cut grade should be. Besides the diamond itself, we also need to consider the gold purity of the setting, as it affects the price. Typically, most jewelry stores use 18K gold (75%) as an international standard because it is strong enough to hold the diamonds securely. The higher the gold percentage, the softer the metal, which makes the prongs holding the diamonds less secure and more prone to deformation if subjected to strong impact.

You can buy them for under ten thousand!

You might get tiny diamonds of half a point or one point, set in small numbers. The color might be average or off-white depending on the store, the clarity might be average or have visible inclusions, and the cut might be average or not very attractive. These are usually small rings or pendants that don't use much gold, or some shops might even use 10K or 14K gold, which allows them to keep the price under ten thousand.

However, if you want jewelry with a bit more substance, made with full 18K gold, fairly white diamonds, and decent clarity, the price range is likely from 20,000 upwards. This could get you a small diamond band for everyday wear or a 0.20-carat diamond ring with some small side stones.

But if you already have a design in mind and want to know how much it might cost, try consulting a salesperson. They can advise you on how to adjust the design or materials to stay within your budget, what diamond grades to choose, and how to increase or decrease the size to perfectly suit your needs. :)