How Much Should You Pay for a 2 Carat Diamond Ring?

Are you looking to buy an engagement ring and want to know how much you should be saving up? There are so many different diamond cuts, color, and ring settings. It’s no surprise the price of a 2 carat diamond varies widely. So how much is a 2 carat diamond?

On average, a good quality earth-grown 2-carat diamond ring will cost between $8,000 and $15,000. 

At a minimum, be prepared to spend $6,000 for a lower-quality lab-grown diamond with a simple ring setting.

A 2-carat diamond ring with a high cut, color, clarity graded earth-grown diamond and an elaborate setting can cost over $72,000.

We’ll dive into the different factors that influence the price of a 2 carat diamond ring. What impact does color, cut, and clarity have on a 2 carat diamond’s price? How much does the ring setting add to the price of the diamond? What’s the price difference between natural earth-grown diamonds and lab-grown diamonds?

But first, How Big is a 2 Carat Diamond?

The carat of a diamond measures the weight of a diamond. A 2 carat diamond means the diamond weighs 400mg, or 0.4 grams. You may have come across different ways of describing 2 carat diamond, like:

  • two carat diamond
  • 2.0 or 2.0ct diamond
  • 200 point diamond (1 carat = 100 points)

All these terms mean exactly the same thing. In terms of actual size, it will depend on the cut of the diamond. If it is a round cut, the diamond would be about 8.1mm in diameter. If this seems big, that’s because it is! Take a look at our diamond size chart if you want exact measurements.

2 Carat Diamond ring on finger

So how big is the average diamond engagement ring? The average engagement ring size is 1 carat. Only about a quarter of engagement rings are 2 carats or larger.

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How much does color, cut, and clarity impact a 2 carat diamond’s price?

In short, quite a bit! Even though carat may be a large factor in a diamond’s price, it isn’t necessarily the most important one. Some say a diamond’s cut is the most important factor in determining its beauty.

The cheapest 2 carat lab-grown diamond is about $5,500 USD. For earth-created diamonds, that starting cost jumps to $6,500. This is the minimum and means your diamond may be slightly yellow, have inclusions or blemishes. It won’t have a very good quality cut.

For a high-quality diamond – nearly colorless, excellent cut, and good clarity – you’ll need to spend more. An earth-grown 2 carat diamond with these qualities starts at over $15,000. As you can see, going from a low-quality diamond to a higher-quality 2 carat diamond can easily triple its price.

The shape of the diamond also impacts its price, even if it has the same color, clarity, and cut. An oval-shaped 2 carat diamond can be 1.5 times the cost of an emerald shaped diamond. However, shape has a smaller impact on price than cut, color, or clarity.

What about the ring setting?

Just because you’ve picked out the perfect 2 carat diamond doesn’t mean the cost ends there. The price for the actual ring needs to be added on.

A plain solitaire ring setting will cost about $250. A tension ring setting may be another option to consider if you’re on a tight budget. Many of these tension ring styles are under $1000.

A halo ring setting, which is a popular style for engagement rings, is often upwards of $1000. If you want a channel-set or three-stone ring setting, set aside at least $1,500.

Of course, ring settings can cost quite a bit more. Elaborate ring settings that feature precious stones or other diamonds will cost more. Some of these can cost over $5000.

Lab grown vs. Earth grown diamonds

Lab grown diamonds are made using high temperature and high pressure inside chambers. This mimics the conditions of the earth’s crust. Lab grown diamonds are chemically identical to natural earth grown diamonds.

The main difference between the two is cost. Lab grown diamonds are often about 30% cheaper than earth grown diamonds. For a 2 carat diamond, this can mean a big difference in cost.

A high quality 2 carat lab grown diamond (D color, VS2 clarity and ideal cut) can be found for less than $8,000. That same diamond as an earth grown diamond costs over $20,000!

Lab diamonds are something to consider if you’re looking to cut costs. It can reduce the price without compromising a diamond’s beauty and brilliance. In fact, even most diamond experts can’t tell the difference between the two.

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A 2 carat diamond ring has a wide price range.

So many factors go into the price of a diamond ring. Prices start at $6,000 USD for a low-quality lab-created diamond with the simplest ring setting. A good quality earth-grown diamond will cost closer to $15,000.

Cut, clarity, and color play a big role in determining the price of a 2 carat diamond. The ring setting can add quite a bit to the overall cost, so make sure you include that in your budget too. Lastly, lab grown diamonds are much cheaper than natural earth grown ones. If you have a limited budget, check out your jeweler’s lab-grown selection.

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Carl Jones

Carl has been involved in the jewelry business since his youth. Growing up in South Africa his parents were jewelers who worked in the industry for decades.

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