What Do Consumers of Natural Diamonds Want?

If you’d like to see how your clients’ diamond buying habits stack up against the rest of the country, simply consult Natural Diamond Trends: A 2024 Overview, a new flagship report from the Natural Diamond Council in New York City, compiled using data collated by the trend analytics company Tenoris from more than 2,000 specialty jewelers across the United States.

Take, for example, the finding that U.S. consumers are gradually favoring larger center stones (in 2024, 1.07 cts. was the average carat weight of diamond engagement rings).

Three-stone diamond ring by Hyde Park Jewelers

“There was a significant increase in demand for the 2- to 2.24-carat range in 2024,” according to the report. “Sales for that category grew 18% and accounted for 10% of the market. The most popular center stones were between 1 to 1.04 carat, with 15% share, although demand for that category fell 8% during the year.”

Round diamonds still account for a whopping 82% of center stones, but ovals are coming on strong, according to the NDC’s latest trends report.

Rings accounted for 40% of natural diamond jewelry sales volume in 2024. The hegemony of round diamonds, which last year represented 82% of the center stones in natural diamond jewelry, is not under threat. Still, consumers are increasingly drawn to fancy shapes, particularly in elongated silhouettes such as oval, which tend to flatter the hands, as well as pear, marquise, emerald, and other non-round cuts that serve as markers of originality.

American buyers are also shifting their preferences on clarity. VS-clarity diamonds are growing in popularity, as opposed to SI (slightly included) diamonds, the longstanding favorite.

(L.–r.) Diamond rings by Jemma Wynne (2), The Clear Cut, and Messika

When it comes to engagement rings as a whole, the report found that the average price in 2024 was $6,750. Sixty-two percent of rings featured round diamonds, while 16% featured ovals. The most common color was H, and the most common clarity SI1.

Top: Rough and polished diamonds (all photos courtesy of the Natural Diamond Council)