The Four C's
Carat
Carat is often confused with size even though it is actually a measure of weight. One carat is equivalent to 200 milligrams or 1/5 of a gram. One carat can also be divided into 100 "points." A .75 carat diamond is the same as a 75-points or 3/4 carat
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diamond.
Size is the most obvious factor in determining the value of the diamond, but bigger is not necessarily better. Diamonds of equal size can have very unequal values depending on their quality. Diamonds of fine quality can be found in all sizes.
Does a 1-carat diamond cost exactly twice the price of a half-carat diamond? No, Since larger diamonds are found less frequently in nature. A 1-carat diamond will cost more than twice a 1/2-carat diamond (assuming color, clarity and cut remain constant). Cut and mounting can make a diamond appear larger (or smaller) than its actual weight.