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Many people are confused about how diamonds are priced. The best explanation is that asking for the price of a diamond is like asking for the price of a house. An estate agent can't quote you a price for a house without knowing its size, condition, location, etc. This process is the same one used when buying a diamond. A diamond's beauty, rarity, and price depend on the interplay of all the 4Cs-cut, clarity, carat, and colour. The 4Cs are used throughout the world to classify the rarity of diamonds. Diamonds with the combination of the highest 4C ratings are more rare, and consequently more expensive. No one C is more important than another in terms of beauty and it is important to note that each of the 4Cs will not diminish in value over time. Once you have established those 4C characteristics that are most important to you, a jeweller can then begin to show you various options with quoted prices.
The Diamond Quality Pyramid is a framework to help you compare diamonds. While all diamonds are precious, those closest to the top of the pyramid - possessing the best combination of cut, clarity, carat weight and colour - are the earth's rarest and most valuable.