Natural Diamond Prices – May 2023

PriceScope is your go-to resource for learning about the current state of the diamond market. We discuss how socio-economic implications 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 April had an effect on the Popular Diamond Shapes Chart and the state of Natural Diamond Prices for May 2023:

Where to buy loose diamonds: For the highest quality diamonds try WhiteflashContinental DiamondJames Allen, and Blue Nile they all have fantastic selections of loose diamonds.


Popular Diamond Shapes May 2023

Round diamonds continue to be the most popular shape of diamond on the market making up 81.97% (popularity) and decreasing by 1.17% in popularity since April 2023. Cushion increased by 18.09% (popularity) remaining in second place. Oval remains in third place but has increased in popularity by 13.70%. Emerald has decreased in popularity by 0.95% and continues to sit in fourth place. Radiant continues to sit in fifth place although decreasing in popularity by 11.05%. Overall, there are no placement changes to the Top 5 Popular Diamond Shapes since March 2023. 


Round Diamond Price Changes For The Last 3 months
Diamond Carat Sizes3/1/20234/1/20235/1/2023
0.0 – 0.57 % 2 % 3 % 
0.5 – 1.02 % -1 % 0 %
1.0 – 2.03 % 0 %-1 % 
2.0 – 3.07 % -1 % -1 % 
3.0 – 4.05 % -1 % 0 %
4.0 – 990 %-1 % -2 % 

This May the average price per carat for a round diamond of 1 – 1.19 carat G color VS1 clarity is $7,921 compared to April which was an average price of $8,140. The average price per carat for round diamonds has decreased by 2.76% 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 June’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.

Latest Publications on Diamond Prices May 2023:


Market Comment

Diamond market slow after difficult start to 2023. 1 ct. RAPI -2.4% in April, -5% so far this year. Economic uncertainty weighing on sentiment as jewelers reduce inventory purchases.

Polished Diamond Prices Declined in April

The RapNet Diamond Index (RAPI) for 1-carat polished diamonds fell 2.4% in April. The index declined to 7,159 on May 1, versus 7,543 at the beginning of the year. Other sizes were also weak. RAPI for 0.30-carat diamonds saw some stability, while prices of smaller goods dropped, reversing their upward trend.

India’s Diamond Trade Slows in March

India’s polished-diamond exports slid 33% year on year to $1.6 billion in March, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC). Rough imports also fell, reflecting a slowdown in the global industry.

India’s Polished Exports Surge in February

India’s polished-diamond exports jumped 20% year on year to $2.37 billion in February, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC).


Taking the Stress out of Stress in Diamonds

Some people are surprised by the fact that many diamonds have what we call stress. One may ask the question; “how do I observe stress in a diamond?”


Botswana Diamond Manufacturers Partner with NDC

Botswana’s diamond industry is joining forces with the Natural Diamond Council (NDC) to promote awareness of its manufacturing activity.
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