Natural Diamond Prices – March 2023

PriceScope is your go-to resource for learning about the current state of the diamond market. We discuss how socio-economic implications such as the current recession affect consumer buying behavior and the price of natural diamonds.

The current natural diamond market is highly competitive and consumers must be aware of potential price fluctuations when shopping for natural diamonds. It is important to do research before making a big ticket purchase. Keeping an eye on market trends when buying natural diamonds assists shoppers with making an educated buying decision.  

Let’s take a closer look at how the economic activity throughout March post-Valentine’s had an effect on the Popular Diamond Shapes Chart and the state of Natural Diamond Prices for March 2023:

Where to buy loose diamonds: For the highest quality diamonds try Whiteflash, Continental Diamond, James Allen, and Blue Nile they all have fantastic selections of loose diamonds.


Top 5 Popular Diamond Shapes

Round diamonds continue to be the most popular shape of diamond on the market making up 81.57% (popularity) and increasing by 1.42% in popularity since February 2023. Cushion increased by 25.59% (popularity) and replaced Oval in second place. Although oval has decreased in popularity by 20.63%, it continues to make the Top 5 Popular Diamond Shapes sitting in third place replacing Emerald. Emerald has decreased in popularity by 36.33% since February 2023 making fourth place. Radiant has made a comeback since November 2022 making 2.01% in popularity. 


Average Price Per Carat For a Round Diamond - March 2023

The table below gives you the rundown and details of the changes for the last three months:

Round Diamond Price Changes For The Last 3 months
Diamond Carat Sizes1/1/20232/1/20233/1/2023
0.0 – 0.5-2 % 2 % 7 % 
0.5 – 1.0-2 % -1 % 2 % 
1.0 – 2.0-4 % 1 % 3 % 
2.0 – 3.0-7 % 2 % 7 % 
3.0 – 4.0-7 % 3 % 5 % 
4.0 – 99-1 % -1 % 0 %

Average Price Per Carat For a Round Diamond - March 2023

This March the average price per carat for a round diamond of 1 – 1.19 carat G color VS1 clarity is $8,092 compared to February which was an average price of $8,236. The average price per carat for round diamonds has decreased by 1.75% since last month.

The current average and lowest prices per carat are shown in PriceScope’s diamond price charts by carat and their corresponding color and clarity.

We advise consumers to keep in mind that cut quality and vendor services such as upgrades and returns can make a significant difference in the price point when shopping for loose diamonds. PriceScope has been collecting retail diamond prices since 2007 of over 1,000,000 diamonds currently in the database. PriceScope diamond price chart page shows the full diamond price charts for rounds and other fancy shapes. We update the diamond prices on a monthly basis. Keep an eye out for April’s diamond prices.

Based on your knowledge of the natural diamond market. What are your predictions for the natural diamond market in 2023? Do you have any questions regarding diamond prices? Ask an expert! Simply click the comments button below.

Whether you’re actively shopping for natural diamonds or just browsing – Check out the PriceScope Diamond Search.

Written by PS Admin

Latest Publications on Diamond Prices March 2023:


Market Comment

Diamond trading quiet amid US economic caution. US Federal Reserve raises interest rates 0.25 basis points, aiming to reduce inflation from 6% in February to 2%. Chinese buyers lack urgency after Hong Kong show signaled their reentry to the market.

US Polished Imports Decline at Start of Year

Full-year polished imports jumped 19% to $22.97 billion in 2022 as the sector continued its recovery from the Covid-19 pandemic.

Press Release: Polished Trading Cautious Despite China Boost

Diamond trading was quiet in February as the trade prepared for the Hong Kong International Jewellery Show, which ran from March 1 to 5.   

Polished Up, Rough Down in Mixed February for Israel Trade

Israel’s diamond trade saw contrasting trends in February, with polished shipments soaring but rough declining as the market’s sluggishness continued.

Higher Average Price Drives Growth in Hong Kong Imports

Hong Kong’s polished-diamond imports increased 3% to $14.81 billion in 2022 as the market continued to recover from the Covid-19 downturn, according to recent data from the Diamond Federation of Hong Kong, China. A rise in the average price outweighed a decline in volume for the quarter and the full year, figures showed. 

Webinar: What’s Shaping the Diamond Market?

Six major factors will determine the makeup of the diamond industry this year, following a market decline in last year’s second half, according to Rapaport Senior Analyst Avi Krawitz.

Dubai Diamond Trade Sees Further Growth

Polished goods moving into and out of the emirate jumped 42% by value, while rough imports and exports gained 7%, the state-owned Dubai Multi Commodities Centre (DMCC) said last week.

US Wholesale: Diamond Suppliers Cautious After Solid Year

While holiday 2022 did not meet expectations, wholesalers report a good year overall and remain optimistic about weathering the challenges of 2023. However, they worry about consumer confidence.

More Couples Choosing Fancy-Shaped Diamonds

While round diamonds remain the dominant style in the market, particularly for engagement rings, fancies have experienced an upward trend in recent years.

Engagement Ring Spending Slips as More Turn to Lab-Grown

US couples spent 3% less on engagement rings last year, as lab-grown diamond center stones gained popularity.


How Inflation is Impacting the Diamond and Jewelry Industry

A summary of three ways inflation is affecting the diamond and jewelry trade to give you some added insight and perspective on how rising prices may impact your business.


“Solid” Results at Gem Diamonds, Despite Ukraine War

Gem Diamonds delivered a “solid” set of results in 2022, despite increased costs as a result of Russia’s invasion of Ukraine.


Industry-Insider Rapaport Lashes Out Against Lab-Grown Diamonds To No Avail

Martin Rapaport recently released an incendiary memo to the diamond and jewelry industry calling on them to stop doing business in lab-grown diamonds (LGD), which he characterized as “synthetic” and “fraudulent.”

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