To make matters more complicated, as you can see below, there are such a large number of different styles of engagement ring settings that it can simply get overwhelming. It’s the first decision you should make in the process as it will determine to some extent what kind of diamond you’ll need to buy. That said, our founder’s own engagement ring purchase was actually a VVS2 diamond that was wildly underpriced and this does happen due to certain supply and demand imbalances.Your choice of engagement ring setting is extremely important. Any higher and you’re typically overpaying for quality that you’ll never be able to see with the naked eye. Generally we advise color grades G - J and clarity grades VS2 or VS1. Our best advice is to have a conversation with your loved one to try to figure out what carat weight of diamond they’re expecting and what aspects of the diamond matter most: the color, clarity, or carat weight (we’d say cut but this always matters for round diamonds).īased on your loved ones feedback and your current financial situation you should play around with the diamond price calculator to find a color and clarity grade that work best for you. At StoneAlgo, we’ve seen people spend anything from a few hundred dollars to hundreds of thousands of dollars on diamond engagement rings. There is no right answer to how much you should spend on an engagement ring but the average engagement ring costs approximately $5,900 according to a 2019 study conducted by The Knot. We hope to do the same for your diamond purchase or sale.Ĭomparing Diamonds of Different Color & Clarity Grades This same issue was a pain point in the real estate market as well until companies like Zillow, Trulia, and RedFin built databases of information to help home buyers find better deals on real estate.

RapNet & the Rapaport Price List created information asymmetry where the average person has had far less information than the typical jeweler, and hence led us to create StoneAlgo so we could level the playing field.

The prices are intentionally high so jewelers can show consumers and act as if they’re providing the consumer with a great deal.

A RapNet account grants users access to a live diamond data feed as well as a weekly price list (the Rapaport Price List) that gives generic, high valuations for diamond prices which jewelers then manipulate to sell diamonds. Industry insiders like dealers and jewelers have access to a tool called RapNet that supplies them with pricing and inventory information.

Simple 0.5ct solitaire ring