One carat is the average size of a diamond engagement ring. However, it is always the dream of every woman to own a diamond ring, which is larger. A five-carat diamond will be something every woman will dream. Nevertheless, they are not found commonly and are considered very valuable. The price of a 5-carat diamond is not easy to imagine. There are many factors, which determine the real cost of a 5-carat diamond ring. Here are some of the factors that affect the price of a 5-carat diamond ring.
The Retail and Wholesale Cost
The wholesale and retail prices of a diamond vary considerably. The price with which the manufacturer or the distributor sells a diamond is its wholesale price, whereas the price with which a retailer sells it is the retail price. The retailers, to make some profit in their deal, will sell the diamonds at a higher price than the wholesale price. Therefore, one can find that the wholesale price of a diamond will be very much less than its retail price.
The same is true with a one-carat diamond ring and a 5-carat diamond ring. You need not necessarily be a person in the diamond business to get diamonds at a wholesale price. You can get diamonds for wholesale prices at some good jewelers.
The Setting of the Diamond
Diamonds can be placed in different settings. The setting of a diamond will affect the final price of the diamond. If the diamond is placed in a simple setting without much detailing or other gemstones and accent stones, the price of the diamond ring will be less. If your budget for buying a diamond ring is very less, you may choose to have a simple setting, which will not cost you much.
The metal used in the setting of the diamond can also affect the price of the diamond. Gold and platinum are the two metals that are used generally for setting diamonds. However, they are costly metals and may not be affordable always. You may choose to use titanium or palladium metals instead of gold or platinum. While these metals have high durability, the expense will be comparatively less.
Clarity and Color
These are two other factors, which affect the price of the diamond. If you choose to have a diamond with high clarity, which does not have any inclusions, the cost may be very high. However, if you are on a budget, you can select a stone with less clarity grade and with a lower color grade.
Keep these things in mind while you purchase a five-carat diamond ring.