How Much is a 2 Carat Diamond Engagement Ring?

Are you in the market for an engagement ring and you have your mind set on a 2 carat diamond? Wondering what the price for a 2 carat diamond engagement ring is? You probably have other questions too. Don’t stress, we have you covered. Here is everything you need to know about 2 carat diamonds and how much they cost. 

Let us start by saying, 2 carat diamond engagement rings are breathtaking and statement-making. 2 carat diamond rings display a level of success and prestige that a 1 carat diamond simply can’t compete with.

A 2 carat diamond engagement ring will surely drop jaws left and right.

The woman wearing a 2 carat diamond engagement ring will be the center of attention among her friends, and the man can stand proud knowing that he got her a stunning rock of remarkable size. We love a 2 carat diamond engagement ring because it’s large enough to notice, but still perfect for daily wear.

That being said, shopping for a diamond ring, especially one that is of a 2 carat size, can be overwhelming. It’s a lot harder to choose a 2 carat diamond than you initially might think. Put simply, the larger the diamond the more noticeable the error. Moreover, 2 carat diamond prices vary greatly.

So, many questions need to be answered.

The first question that pops into mind is likely “how much is a 2 carat diamond engagement ring?”. This question is probably followed by “why is a 2 carat diamond so much more expensive than a 1 carat diamond?” and “why are there so many options and nuances!?”

If your heart is set on a 2 carat diamond ring, it’s important to know as much as possible, so you can get the best 2 carat diamond for your money.

Thus, in this article, we plan to answer the most frequently asked questions regarding 2 carat diamond engagement rings, such as their price, size, and value.

We hope this information will help steer you in the right direction, and away from making a costly mistake…this is the purchase of a lifetime, so you want to get it right.

Firstly, let’s discuss a basic question that sometimes gets misconstrued.

What is a 2 carat diamond?

Ok, so this question might seem super basic, but the thing is, people often confuse ‘carat’ and ‘size’.

A gorgeous two carat round brilliant cut diamond from Diamonds by Raymond Lee in Boca Raton

The difference between a Diamond’s Carat and Size

Carat refers to weight and size refers to dimensions. Therefore, we want to start by making it clear that the two are not the same.

2 Carat Diamond Weight – How much does a 2 carat diamond weigh?

A 2 carat diamond weighs 400 milligrams or 0.4 grams. To put that in perspective, a Skittle weighs around 1 gram and a Tic Tac weighs .5 grams. However, the weight doesn’t determine the size as a two carat diamond is surely bigger than a tic tac. The surface area and density determine the size.

2 Carat Diamond Size – How big is a 2 carat diamond?

A 2 carat diamond will vary in size depending on the shape and cut.

Diamond Shape – Surface area for a 2 Carat diamond:

Round Brilliant Cut – 8.19×8.19mm
Princess Cut – 6.94×6.94mm
Emerald Cut – 8.42×6.24mm
Asscher Cut – 7.07×7.07mm
Radiant Cut – 7.28×7.28mm
Cushion Cut – 7.34×7.34mm
Oval Diamond – 10.23×6.82mm
Pear Shaped Diamond – 11.4×6.87mm
Heart Shaped Diamond – 8.27×8.27mm
Marquise Diamond – 13.08×6.54mm
Trillion Diamond – 9.75×9.75mm

Surface area can make quite a difference in regards to how big the diamond looks. If a diamond has a larger table size (the top surface of the diamond), that 2 carat diamond will appear larger than a 2 carat diamond with a smaller table size. Therefore, if you want a bigger diamond, you need to consider the surface area, not just the carat weight.

Are 2 Carat Diamonds Priced by Size or Weight?

Diamonds are priced by carat weight, not size.

However, it’s not all about carat weight…

Carat weight is just one factor for a diamond’s price. There are 3 other factors to consider when searching for your ideal 2 carat diamond engagement ring. They are…

The 4Cs

We’ve already discussed Carat weight, now we need to touch on the importance of the other Cs – Cut, Color, and Clarity.

Each of the 4Cs play a role in the beauty of the diamond, and each has its own grading scale.

4Cs Grading Chart- Cut, Color, Clarity

Not only do the 4Cs determine the look of the diamond (brilliance, scintillation, fire), they also determine the price.

If you are buying a 2 carat diamond engagement ring, you need to consider the 4Cs and your budget. Of course, if your 2 carat diamond is on the high end of the grading chart, it will be much more expensive than one in the middle or low end. Below are some tips to get the best bang for your 2 carat diamond buck.

Clarity

When considering clarity, it’s important to understand the difference between the clarity from the naked eye perspective and the jeweler’s loupe. An Internally Flawless (IF) will have no inclusions when seen from a loupe, the VVS1 will have only very very slight inclusions, and so on. However, from the naked eye, you won’t be able to see inclusions until you get down to an SI1 grade. Even then it will be hard to see with the naked eye. So, if you want to get a 2 carat diamond ring at a more affordable price, opt for a diamond that is flawless to the naked eye, not the jeweler’s loupe.

Color

The same concept for clarity applies to color. Consider the beauty from the naked eye perspective if you want to get a 2 carat diamond egagement ring at the best price. Another thing to consider with color is the metal of the ring’s setting. If the diamond is a K or L color grade, it might have a very slight hint of yellow, however, in front of a yellow or rose gold setting, it will be unnoticeable. So, you have to consider the diamond’s setting. With white metals, the hints of yellow will be more noticeable, so you’d want to opt for a high color grade.

Cut

For a diamond, cut is a very crucial factor. Most people say it’s the most important. Diamond cuts range from poor to ideal. An ‘ideal’, ‘excellent’, and ‘very good’ cut diamond will look far more beautiful, brilliant and sparkly than a ‘fair’ or ‘poor’ cut diamond.

Now, it’s important to note that the above cut grading system applies to round brilliants. Any other diamond than a round brilliant will be considered a fancy shape diamond. Fancy shape diamonds have different grading for the cut, which is mostly based on polish & symmetry. Most jewelers use their own cut grading system. Also, in addition to the 4Cs, you have Fluorescence, Certification, and SHAPE, which affect the price of a diamond.

Note: Work with an expert jeweler like Diamonds By Raymond Lee and Raymond Lee Jewelers as they will help you buy the most brilliant and beautiful diamond ring that fits your budget. 

Which of the 4Cs is the most important?

Diamond shapes affect diamonds size & price

If you want a 2 carat diamond engagement ring, don’t just limit yourself to a round brilliant diamond, cushion cut, or princess cut diamond. When dealing with 2 carats, a less common fancy shape diamond that appears small at 1 carat when comparing to a round brilliant can look much more respectable in size at 2 carat. Not to mention, utterly unique and stunning.

What’s more, fancy shape diamonds are less expensive than a round brilliant diamonds due to demand. So you can get a 2 carat diamond at a better price when going for a fancy diamond shape.

An oval diamond of brilliant cut looks absolutely stunning and elegant in a 4 prong setting of white gold.

Is a 2 Carat Diamond too big for an engagement ring?

On average, a two carat diamond isn’t too big. It’s a commendable size, but it is still comfortable enough for daily wear.

What it comes down to is budget, personal preference, and finger size. If you have thick fingers, a 2 carat diamond won’t appear as big as it will for someone with thin fingers. So take this into consideration as well.

Should I go bigger than a 2 carat diamond for my engagement ring?

When looking at a 2 carat diamond and a 2.5 carat diamond, it won’t appear that much larger, but the price will be significantly more. For example, a typical 2 carat round brilliant diamond will be about 8.1mm across and a 2.5 carat round brilliant will be 8.9mm. However, the price could easily be more than double for the 2.5 carat round brilliant, and that’s considering they both have similar grades of cut, color and clarity.

How Much is a 2 Carat Diamond Engagement Ring?

It would be impossible to say how much a two carat diamond engagement ring costs as there are so many factors to consider. You have cut, color, clarity, shape, setting, and the designer brand & manufacturer and more. The price of a 2 carat diamond has a very wide range. So, the best we can do to answer this is give you examples of 2 carat diamonds, along with their color, cut and clarity grades, so you can see the prices of various options.

2 Carat Diamond Prices

The price of a 2 carat diamond ranges from around $8,000 to $50,000. Super vague right?

That’s because it all depends on the cut of the diamond, the clarity, inclusions, and the color. If you are on the high end of the grading scale – excellent cut, E color, VSI – then you are looking at the high end of the price range.

To give you a better idea of pricing, here are a few sample 2 carat diamonds (approximately) of a different cut, color, and clarity.

2 Carat Round Brilliant Diamond Prices

2.04 carat round brilliant diamond – Good Cut, M Color, SI1 Clarity: $7,956

2.08 carat round brilliant diamond – Excellent Cut, G Color, VS2 Clarity: $25,459

2.03 carat round brilliant diamond – Excellent Cut, D Color, IF Clarity: $76,499

2 Carat Princess Cut Diamond Prices

2.04 carat princess cut diamond – K Color – SI2 Clarity: $9,792

2 Carat Cushion Cut Diamond Price

2.02 carat cushion cut diamond – K Color, SI2 Clarity: $9,090

2.01 carat cushion diamond – G Color, SI1 Clarity: $16,985

2 Carat Oval Diamond Price

Two carat oval diamond – J Color, SI1 Clarity: $11,160

2 Carat Pear Diamond Price

2.01 carat pear shape diamond – H Color, VS2: $16,080

2 Carat Marquise Diamond Price

2.01 carat marquise diamond – F Color, SI3: $10,050

2 Carat Asscher Cut Diamond Price

2.03 carat Asscher cut diamond – G Color, SI1: $13,906

Why do 2 carat engagement rings cost so much more than 1 carat rings?

Many people would expect that if a 1 carat diamond costs $4,000, a 2 carat diamond of the same cut, color and clarity will be double the price…so $8,000.

That’s far from the reality.

The reason diamond prices jump up so high as the carat weight goes up is due to rarity. 2 carat diamonds are far more scarce than 1 carat diamonds. So, the price is fixed accordingly.

What’s more, a 2 carat diamond of good quality is even more scarce. That’s why most 2 carat diamonds that you find at your local jeweler are of poor quality.

As with anything in life, you must pay a premium for rarity.

How much is a 1 carat diamond?

How diamonds are cut…

Diamonds need to be cut to bring out the beauty and to make a shape that is ideal for a setting. So, that means a diamond cutter must take a raw (a.k.a. rough) diamond and cut the material down to size. Thus, the raw diamond they are working with must be larger than 2 carats. It’s much easier to take a rough diamond and cut it down to 1 carat than 2 carats because of this.

Shape vs Price

As mentioned previously in this article, the shape of a diamond affects the price as well. As you will see when shopping for diamonds, certain shapes/cuts are more expensive than others, which comes down to demand and how much rough diamond was wasted in the cutting process. Plenty of diamond material goes to waste when turning rough diamonds into cut diamonds. The round brilliant cut diamond sees the most waste and has the highest demand, which is why it has the highest price.

How to save money on a 2 carat diamond while still getting the look you want?

To save money, there are a few things you can do.

1. Choose a diamond that is just under 2 carats. There’s no need for a round number if you really think about it. Yes, it sounds better, but looks-wise, you will be hard pressed to tell the difference between a 1.95 carat diamonds and a 2.01 carat diamond. The biggest difference will be the price.
2. Choose a shape and cut that makes less byproduct. Round brilliant cut diamonds are typically the most stunning, but they also cost the most. A pear shape diamond is less expensive due to less waste when cutting. Moreover, it is also one of the most stunning in terms of brilliance and it makes for a larger size. So, even though it’s not the most popular cut, you will get a bigger appearance and an almost equally brilliant cut.
3. If you need to sacrifice on one or two of the 4Cs, make it color and clarity. By going down the grading scale slightly, it will be really hard to tell the difference to the naked eye, unless you are under the bright lights or dealing with a diamond expert. Again, the biggest difference you’ll see from a G color to I color is the price. Same goes for inclusions. If you can’t see it with the naked eye, then you shouldn’t worry so much. That being said, a 2 carat diamond is bigger so it makes these things more noticeable than it does on diamonds with less carat weight/size. Furthermore, it will depend on the setting and precious metal you choose (for example, a prong setting will show more of the diamond, and a white gold setting will make the diamond’s color more obvious than a rose gold setting).
4. Go for a smaller carat weight and get a halo setting. It offers the appearance of a larger centerpiece for a significantly lower cost.

Price for a good quality 2 carat Diamond Engagement Ring?

If you have budget restrictions, a good quality two carat diamond engagement ring will run you about $11,000 to $17,000 for a round brilliant cut diamonds and around $9,500 to $14,000 for a fancy shape diamonds like a cushion, princess or pear.

Now, if budget is of no concern, we suggest spending in the range of $22,000 to $25,000 for a 2-carat round brilliant cut diamond engagement ring and $16,000 to $22,000 for a fancy shape diamond. Go for an excellent cut, D-G color, and VSI or higher clarity.

All of the prices above will get you a gold or platinum setting with or without diamond accents.

In any case, make sure the diamond is graded by GIA (Gemological Institute of America) or AGS (American Gem Society. This is a must, not a recommendation.

Although these are the basics of pricing for a good quality 2 carat diamond, and the ranges are still quite wide, it gives you a good understanding of what you are looking at in terms of cost.

2 Carat Diamond Ring Settings

For a 2 carat diamond engagement ring, the best and most popular setting is a solitaire. However, if you want your 2 carat diamond to appear even larger, a halo setting will do the trick. Moreover, a halo setting can distract from any imperfections your diamond has.

Best setting for a 2 carat diamond engagement ring?

Most people consider a solitaire setting the best for a 2 carat diamond engagement ring, especially a high grade 2 carat diamond. It allows the large diamond to be the center of attention, without any distractions. It stands alone, in free form, showing off all its beauty. It’s like putting it on a pedestal, which a good quality 2 carat diamond surely deserves.

What’s more, a solitaire setting offers the most timeless look. It will never go out of style. It’s pure class and incredibly classic. If you do want to add a little more flair to your 2 carat diamond solitaire engagement ring you can put diamonds on the bands, opt for a fancy shape diamond, or even mix metals within the band itself.

Note: Prongs matter too! If you want the diamond to standout in all of its glory, choose the least amount of prongs that you can without sacrificing the secureness of the diamond. Choosing 6 or 8 prongs on a 2 carat diamond will make it appear smaller. The point is, speak with the jeweler about prong options and profile height. Let them know your lifestyle and preferences. People who are more active may want to choose a more secure, lower profile setting. Those who want their diamond to be as prominent as possible will want a higher profile with unobtrusive prongs.

Each setting will have its pros and cons. Some settings, like the halo setting, offer more protection and others, like the prong setting, will maximize the brilliance and amount of diamond that shows.

Other setting options are:

• Bezel Setting
• Tension Setting

In our opinion, the two best settings for a 2 carat diamond is the Solitaire prong setting for the traditionalist and the halo setting for those who like to make a big statement….

When looking at these two options, it becomes clear that prong settings and halo settings are the way to go.

Halo vs Solitaire Settings

2 Carat Diamond Engagement Rings Prices & For Sale

14k White Gold 2.08ct Round Brilliant GIA Diamond Engagement Ring – Price: $20,845.00

Henri Daussi GCT07 2.15ct Diamond Engagement Ring – Price: $88,582.00

A completely flawless 2.15 carat cushion cut diamond engagement ring.  This three-stone (2 trapezoid side diamonds) 18k white gold prong setting is part of a Henri Daussi Collection.

Henri Daussi AL44 2.06ct Diamond Engagement Ring – Price: $68,669.00

This cushion cut Henri Daussi diamond engagement ring features a 2.06 carat center stone with 1.13ct accent diamonds set in 18k white gold.

2 Carat Marquise Cut Diamond Engagement Ring – Price $22,795.00

Here we have a gorgeous marquise diamond three stone setting with baguette diamonds and a 14k white gold band.

14K White Gold 2.12 Carat Emerald Cut Diamond Engagement Ring – Price: $18,795

This is a jaw-dropping emerald cut diamond engagement ring. It is GIA certified 2.12ct emerald cut diamond. Diamond is I in color and VS1 in clarity. The accent diamonds and setting are Approx. 0.89ctw of round brilliant diamonds G/H in color, SI in clarity and it has a Gabriel & Co. mounting.

Platinum 2.04 Carat Princess Cut Three-Stone Ring – Price: $29,995.00

This unique, outstanding engagement ring features a 2.04ct princess cut GIA Certified diamond F in color and VS2 in clarity. The two side stones are Trillion cut diamonds of approximately 1.5 carats.