1 carat is equal to 100 points or 100 cents. Diamonds are priced on a per carat basis and the cost increases significantly when it reaches the full carat mark and for each carat thereafter. So if you choose a 93 cent diamond, the difference in size would be insignificant, and when set no one would see the difference, but you'll enjoy a big savings in cost.
Carat measures weight and NOT size of the stone although both are proportional. A well cut diamond has evenly distributed weight, but a diamond with imperfections in cut, symmetry or proportion tends to weigh the more.
Large diamonds are rare and have a greater value per carat. Price of a diamond rises exponentially to its size. Although the size of the diamond is the most important factor affecting the price, it does not guarantee beauty. So before buying a diamond, first decide upon the quality you want and then choose the size you can afford.
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