Diamond engagement rings: trends in shape, size, and pricing

Over the past months, the price of natural diamond jewelry has continued to rise, with the global average increasing by 2.7% year-over-year, now reaching $2,360 in 2024, according to a recent report by the Natural Diamond Council (NDC) and trend research firm Tenoris.

Published by Rapaport, the study analyzed data from over 2,000 independent jewelry retailers, offering insight into how consumer preferences are evolving when it comes to diamond shape, size, and clarity.

Engagement rings: the enduring popularity of round diamonds

Despite changing trends, round-cut diamonds remain the most popular choice, appearing as the center stone in 82% of engagement rings sold in 2024. However, more customers are turning toward unique shapes, with oval and marquise-cut diamonds gaining particular traction.

Size preferences have also shifted. While the 1-carat diamond was traditionally the most sought-after, an increasing number of customers are now choosing larger stones. In fact, demand for 2 to 2.24-carat center diamonds has surged by 18% globally, and these now make up 10% of total sales.

A growing preference for higher clarity diamonds

Although SI clarity diamonds remain the most commonly purchased, accounting for more than half of all sales, interest in higher clarity stones has increased significantly. VS1 clarity diamonds saw a 15% rise in sales, while VS2 diamonds experienced an 8% increase in 2024, indicating a preference for diamonds with fewer visible inclusions and enhanced brilliance.

What determines the price of a 1 carat diamond?

Several factors influence a diamond’s price, with the "4Cs" being the most crucial: carat weight, cut quality, color, and clarity. Larger diamonds are rarer and therefore more valuable, but the precision of the cut also plays a key role, as it directly impacts the stone’s brilliance and fire. The color grading system ranks diamonds from completely colorless to light yellow or brown, with the purest white diamonds commanding the highest prices. Clarity refers to the presence of inclusions or blemishes, with flawless stones being the most desirable. Beyond these core factors, pricing is also affected by market demand, brand reputation, and certification of quality.

Natural diamonds remain a timeless choice

With the jewelry market experiencing a 5% increase in 2024, natural diamonds continue to hold a strong appeal among customers. According to the NDC, their allure goes beyond aesthetics—diamonds carry deep emotional significance and are often chosen to mark life’s most meaningful moments. A diamond engagement ring is more than just jewelry; it represents love, commitment, and a lasting legacy that spans generations.

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