Buyer's Guide: Pricing a 2 Carat Diamond Ring

There’s no denying that 2 carat diamond rings make quite the dazzling statement. They look fantastic on just about anybody, with their substantial but not overwhelming size. But the world of 2 carat diamond rings is much different than 1 carat, even though it’s technically just a doubling of carat weight. This can get especially confusing when you see a 2 carat diamond ring’s price. That’s why we’re giving you everything you need to know about the price of a 2 carat diamond ring and all the important details to help you make this valuable purchase.

A Primer on 2 Carat Diamonds

When you hear the phrase “2 carat diamond”, that is simply referring to the weight of the diamond, which is measured in carats. The carat unit of measurement is equal to 400 milligrams, or 0.4 grams. Because carats are the standard of measuring diamonds, diamond shoppers are often confused and assume a 2 carat diamond corresponds to a standard size (length and width). However, being a unit of weight, a 2 carat diamond will differ in size depending on its shape and how it is cut. For instance, compare the representative size (in millimeters) of the following 2 carat diamonds of different shapes:

2 carat diamonds
Round 7.97 x 8.02 mm
Radiant 8.33 x 6.6 mm
Oval 9.61 x 7.10 mm
Pear 11.09 x 6.83mm
Marquise 13 x 6.5mm

2 carat diamonds cut in elongating shapes like marquise and oval will appear larger than a round diamond. And even comparing 2 carat diamonds of the same cut, some will be cut more shallower than others and thus appear slightly larger or smaller.

Finding a 2 carat diamond you love requires some special considerations that we’re going to cover for you in this article. But it’s important to note that as you increase in carat weight, it gets more difficult to find a high quality, well-cut diamond. They become rarer for multiple reasons, the most prominent being that a finished 2 carat diamond requires more diamond rough for the cutting process.

oval 2 carat diamond ring - yellow gold
2 carat cushion cut ring
2 carat emerald cut ring
marquise 2 carat diamond ring
2 carat cushion cut ring

How Much Does A 2 Carat Diamond Ring Cost?

Diamonds are all priced per carat (you can read more about why in our extensive diamond price guide). While that may seem straightforward, there’s also the caveat that diamond prices increase exponentially in relation to the carat weight. It becomes more rare, requires more diamond rough, and is harder to cut well with every carat increase. This means that each full carat mark will feature a leap in the price per carat because the diamond has a higher weight value the larger that it gets.

Consider these numbers as an example* (sample prices as of 2022):

Natural mined - G, VS1, Excellent
1 carat - $7,000
2 carat - $30,000
3 carat - $60,000

Lab diamond - G, VS1, Excellent
1 carat - $2,000
2 carat - $5,000
3 carat - $11,000

As you can see, you cannot simply take the price of a 1 carat diamond and double it to get the projected cost of a 2 carat diamond.

oval diamonds in a range 1 to 2 carats

On average, you can expect the cost of a 2 carat diamond to widely vary depending on its shape, cut quality, clarity, color, and whether it’s a naturally mined or lab diamond. The varying cost can range from $5,000 to $50,000 or more. And since no two diamonds are exactly the same, assessing the 4Cs of quality for each diamond that you look at becomes more critical with every increase in carat weight.

How Does Shape Affect 2 Carat Diamond Prices?  

Round brilliant cut diamonds are consistently in the highest demand, and because of their very appealing qualities, they will very likely be the most expensive diamond shape to consider. All other fancy-shaped diamonds will be less expensive in comparison for roughly the same weight and quality. Pear-shaped and oval-shaped diamonds cost roughly 10-15% less than an equivalent quality round diamond. Cushion cut, princess cut and emerald cut 2 carat diamonds could cost as much as 30% less than an equivalent round diamond.

These shapes are less expensive, even with similar or equivalent quality grades, for a couple of reasons. First, there simply isn’t the same demand for fancy-shaped diamonds as compared to round brilliant cuts. Secondly, all of these shapes retain much more of their original diamond rough. This means that there is less waste of the precious diamond material.

round brilliant 2 carat diamond

2 carat round brilliant diamond

oval cut 2 carat diamond

2 carat oval diamond

What Features to Focus on with a 2 Carat Diamond  

If you’re planning on purchasing a 2 carat diamond, make the most of your budget by focusing on the cut and the clarity. As diamonds get larger, it is easier to notice imperfections with the naked eye. A diamond’s cut refers to the angles, proportions, and facets of a diamond that will reflect light back to your eye. When a diamond is cut very well, the light being reflected back will showcase the diamond’s brilliance, fire, and scintillation. All that accounts for the level of sparkle it exhibits.

Aside from an excellent cut, evaluating clarity is essential for larger diamonds. Compared with a 1 carat diamond, 2 carat diamonds generally have a larger table – the flat top part of the diamond – meaning you’re able to see more inside the diamond. The clarity grade of the diamond indicates how many inclusions or blemishes are present and visible under magnification. For clarity, you’ll want to look for an eye-clean diamond. Eye-clean means that a diamond’s imperfections can’t be seen to the naked eye – really important for a larger table.

On the GIA diamond clarity scale, it’s best to focus on diamonds in the VVS1-VS2 range. It’s likely that those in the VVS range will appear eye clean. With some time and effort, you may also be able to find a 2 carat diamond in the VS range that could appear eye-clean to you, or maybe has inclusions near the edges that can be covered by a prong.

Finally, you should consider a diamond's color because the price difference between color grades can be significant. Since a 2 carat diamond is larger, you will be able to see color more easily than in a 1 carat diamond. However, it’s difficult to detect slight color differences at all without comparing diamonds side by side. Diamonds in the G to I will generally appear colorless, and a J or K diamond can look vibrant and lovely in a yellow or rose gold setting. Look within these ranges to not pay for a feature you simply won’t notice.

The Best Designs For a 2 Carat Diamond Ring

When designing a setting for a 2 carat diamond, you’ll want to first consider that you’re working with a larger than usual center stone. With a high quality diamond, you’ve got the makings of a showstopping engagement ring all on its own.

Tip: Balancing the width of the band will be important – too thin will have it looking imbalanced and the weight of the stone will constantly move the ring around; too thick and you lose the visual impact of the larger stone. From here, we’ve got a few of our favorites to inspire your imagination.

A solitaire setting is always a timeless way to go for a 2 carat diamond ring. It can be styled modern or vintage, in any color metal, and you can even add a pavé band for more sparkle. With our Molly ring, a gorgeous 2 carat oval diamond sits on a delicate double band for a simple yet unique look that is classic yet modern at the same time.

Another timeless style that is perfect for a 2 carat diamond ring is a halo setting. The halo setting adds a layer of small diamonds around the center stone, making it appear even larger and providing added brilliance. We love our Verity for a classic halo. For this ring, we’ve set a stunning 2 carat oval cut diamond in a low-profile platinum setting with diamond halo surround on a partial pavé-set band.

Oval 2.0 ct lab grown diamond ring, approximately $8,600

Oval 2.0 ct lab grown diamond ring, approximately $9,700

Pairing your large center stone with accent side stones to create a three-stone ring is another way to really accentuate your center stone and have a gorgeous spread of diamonds on your finger. With our three-stone Hetty, we took this timeless look and added a super sweet, unexpected heart trellis in the metal basket holding each diamond.

A 2 carat diamond gives you the chance to really up the style and choose something truly unique. For our sculptural Sundara ring, we did just that, designing a nature-inspired split shank engagement ring in bold and sculptural platinum metal. The band twists and wraps around itself, creating a natural form accented with an additional 30 organically-set round diamonds.

If your heart is set on a 2 carat diamond ring, there are lots of ways to make that purchase be a smart investment as well as a stunning ring. Just don’t get stuck on the number. You can buy just shy of 2 carats – think in the 1.90-1.99 carat range – and avoid the price jump at the full carat mark without sacrificing any visual impact. Just make sure you’re working with a trusted jeweler who can answer all of your questions and you’re bound to end up with your perfect 2 carat diamond ring!

Round 2.0 ct natural diamond ring, approximately $21,295

Round 2.0 ct lab grown diamond ring, approximately $10,055

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