Lab Diamond Price Index 2026: Per-Carat Rates by Category
Quarterly per-carat USD rates across tennis bracelets, rings, earrings, and pendants, converted from the live Draco Diamond catalog and verified for journalists and buyers.
The author is the founder of Draco Diamond. All prices are converted from the live CAD catalog at the Bank of Canada mid-market rate of 1 CAD equals 0.73075 USD as of February 22, 2026. Every Draco piece is IGI certified, E to F color, VS2 clarity or better. The certificate is included with every order. To confirm a specific stone first, the IGI report is available on request.
5ct round tennis bracelet, DTC per-carat USD
Quarterly per-carat rate for the most tracked piece in the index. The rate fell from 526 USD in Q1 2024 to 409 USD in Q1 2026.
Source: Draco Diamond Price Index, DTC per-carat USD for the 5ct round tennis bracelet, Q1 2024 to Q1 2026.
What do tennis bracelets cost per carat?
Tennis bracelet per-carat rates are the lowest in the catalog because multi-stone pieces source smaller individual diamonds in bulk. The 7.8ct princess bracelet at 328 USD per carat shows maximum bulk efficiency. This is why a 5ct tennis bracelet costs less per carat than a 1ct solitaire ring of identical grade. All figures below are Q1 2026, converted to USD.
| Carat | Cut style | Draco price | Per carat | Market range | QoQ |
|---|---|---|---|---|---|
| 3ct | Round Brilliant, 14K | $1,323 | $441/ct | $2,824 to $3,976 | down 1.8% |
| 5ct | Round Brilliant, 10K (most popular) | $2,045 | $409/ct | $3,440 to $5,572 | down 1.5% |
| 5ct | Emerald / Oval / Marquise / Pear, 10K | $1,988 | $398/ct | $3,440 to $5,572 | down 1.5% |
| 5ct | Heart / Baguette Mix, 10K to 14K | $2,192 | $438/ct | $3,440 to $5,572 | down 1.3% |
| 7.8ct | Princess Cut, 10K | $2,557 | $328/ct | $7,161 to $10,220 | down 1.1% |
| 9.33ct | Three-Row Pear, 10K | $3,800 | $407/ct | $10,220 to $16,070 | down 0.9% |
| 13ct | Pear Clover | $7,307 | $562/ct | $18,000 to $30,000 | down 0.7% |
| Quarter | Per carat | 5ct total | YoY change |
|---|---|---|---|
| Q1 2024 | $526/ct | $2,630 | n/a |
| Q2 2024 | $511/ct | $2,555 | n/a |
| Q3 2024 | $494/ct | $2,470 | n/a |
| Q4 2024 | $476/ct | $2,380 | n/a |
| Q1 2025 | $458/ct | $2,290 | down 12.9% |
| Q2 2025 | $447/ct | $2,235 | down 12.5% |
| Q3 2025 | $430/ct | $2,150 | down 12.9% |
| Q4 2025 | $415/ct | $2,075 | down 12.8% |
| Q1 2026 (current) | $409/ct | $2,045 | down 10.7% |
"The rate of decline is moderating. Q1 2026 shows the smallest quarterly drop in eight consecutive quarters, which suggests the market is approaching a production cost floor."
Garrett McMartin, Founder, Draco Diamond
What do rings cost per carat?
Ring per-carat rates vary widely by style. Statement and custom designs include design and labor premiums beyond stone cost. Solitaire and band styles offer the cleanest per-carat comparison. Multi-stone rings with smaller stones trend toward tennis bracelet efficiency levels.
| Carat | Style | Draco price | Per carat | Market range | QoQ |
|---|---|---|---|---|---|
| 0.30ct | Trinity 3-Stone, 10K | $678 | $2,260/ct | $1,200 to $2,800 | down 3.1% |
| 1ct | Crescent Band / Pavé Band, 10K | $958 to $1,030 | $958 to $1,030/ct | $2,100 to $5,100 | down 2.9% |
| 1.15 to 1.5ct | Semi-Eternity / Solitaire, 10K (best value) | $949 to $1,155 | $825 to $982/ct | $2,800 to $6,900 | down 2.7% |
| 2.25ct | Radiant Solitaire, 14K | $1,234 | $548/ct | $4,800 to $10,200 | down 2.4% |
| 2.5ct | Elongated Radiant / Pear Halo, 10K | $1,628 | $651/ct | $5,800 to $12,400 | down 2.2% |
| 5ct | Eternity Oval / Cross, 10K | $2,273 to $2,671 | $455 to $534/ct | $9,800 to $18,000 | down 1.9% |
| 8 to 8.5ct | Eternity Band, 10K | $2,870 | $358/ct | $14,000 to $24,000 | down 1.6% |
| 10.01ct | Jesus Head Ring, 10K | $5,602 | $560/ct | $18,000 to $32,000 | down 1.1% |
| 15.05ct | GOAT Ring, 10K | $8,038 | $534/ct | $28,000 to $50,000 | down 0.9% |
What do earrings cost per carat?
Earring figures are pair pricing. The 1ctw round stud at 446 USD is the lowest entry point in the catalog. Larger total carat weights lower the per-carat rate, with the 9.6ct pear drop cluster reaching 355 USD per carat. All figures are Q1 2026.
| Total carat | Style | Draco price | Per carat | Market range | QoQ |
|---|---|---|---|---|---|
| 1ctw | Round Stud, 10K (entry point) | $446 | $446/ct | $900 to $2,800 | down 3.5% |
| 1ctw | Emerald Cut Stud, 10K | $585 | $585/ct | $900 to $2,800 | down 3.3% |
| 1ctw | Leaf Design, 10K | $674 | $674/ct | $900 to $2,800 | down 3.1% |
| 2ctw | Round Brilliant Stud, 10K | $730 | $365/ct | $2,400 to $5,800 | down 3.0% |
| 2ct | Butterfly Stud, 10K | $1,672 | $836/ct | $3,800 to $8,400 | down 2.6% |
| 6ctw | Baguette Emerald Hoop, 10K | $2,849 | $475/ct | $8,000 to $14,600 | down 2.1% |
| 8ctw | Baguette Zig Zag Drop, 10K | $3,004 | $376/ct | $10,400 to $18,000 | down 1.8% |
| 9.6ct | Pear Drop Cluster, 10K | $3,407 | $355/ct | $12,000 to $20,000 | down 1.5% |
| 8ct | Halo Circle Drop, 10K | $4,303 | $538/ct | $14,000 to $24,000 | down 1.3% |
What do pendants and necklaces cost per carat?
The pendant and necklace catalog spans entry luxury to full custom statement pieces. The ultra-high carat pieces above 35ct carry the most extreme savings versus legacy retail, where buyers in this tier are typically paying 60,000 to 120,000 USD for comparable weight and certification. All figures are Q1 2026.
| Carat | Style | Draco price | Per carat | Market range | QoQ |
|---|---|---|---|---|---|
| 0.20ct | Greek Key Pendant, 10K | $673 | $3,365/ct | $800 to $2,200 | down 3.4% |
| 0.60ct | Halo Pendant, 14K | $876 | $1,460/ct | $1,400 to $3,800 | down 3.2% |
| 1ct | Butterfly / Safety Pin / Solitaire, 10K (best value) | $805 to $1,177 | $805 to $1,177/ct | $1,800 to $5,200 | down 3.0% |
| 1.4ct | Drop Pendant, 10K | $805 | $575/ct | $2,200 to $5,800 | down 2.8% |
| 1.9ct | Dog Tag, 10K | $1,380 | $726/ct | $3,200 to $7,400 | down 2.6% |
| 2 to 3ct | Angel Wing / Vivid Color / Bunny, 10K | $1,461 | $487 to $730/ct | $4,000 to $9,000 | down 2.4% |
| 4 to 5.6ct | Statement Pendants (Skull, Rectangle), 10K | $2,554 to $2,760 | $492 to $638/ct | $8,000 to $16,000 | down 2.0% |
| 5 to 7ct | Cultural Icons (Christ Redeemer, Virgen, Boxing Gloves), 10K | $2,917 to $3,329 | $417 to $605/ct | $10,000 to $22,000 | down 1.8% |
| 8.25ct | Gaming Pendant, 10K | $3,656 | $443/ct | $12,000 to $24,000 | down 1.5% |
| 8.4ct | Shark Pendant Multi-Color, 10K | $5,115 | $609/ct | $14,000 to $28,000 | down 1.3% |
| 12ct | Y Lariat Tennis Necklace, 10K | $6,649 | $554/ct | $18,000 to $36,000 | down 1.1% |
| 35.5 to 59.5ct | Mega Statement (Jesus Face, Cross, 59.5ct Tennis) | $16,565 to $20,462 | $344 to $466/ct | $60,000 to $120,000 plus | down 0.7% |
How is this index built?
Lab grown diamond prices have declined consistently since 2022 as HPHT and CVD reactor capacity expands globally. The rate of decline is moderating. Q1 2026 shows the smallest quarterly decline in eight consecutive quarters, suggesting the market is approaching a production cost floor. Further major price drops in 2026 are unlikely.
The tennis bracelet segment is the most stable category. Multi-stone demand has grown faster than supply adjustments, keeping per-carat rates from falling as sharply as single-stone rings. The statement and cultural pendant tier is a distinctly different market, where buyers pay for design labor and provenance, not raw diamond weight alone.
All Draco prices reflect the live CAD retail catalog as of February 22, 2026, converted to USD at the Bank of Canada mid-market rate of 1 CAD equals 0.73075 USD. Market range figures represent estimated traditional retail pricing for comparable specifications. QoQ change reflects Draco pricing movement from Q4 2025 to Q1 2026. The quality baseline is VS plus clarity, E to F color, Excellent cut, IGI certified unless noted. The update schedule is February, May, August, and November. For the full catalog, see the tennis bracelets collection.
Price index FAQ
Will lab diamond prices keep dropping in 2026?
The rate of decline is slowing. Based on current production cost floors and market stabilization signals, further declines in 2026 are expected to be in the 5 to 8 percent range annually, not the 12 to 20 percent drops of 2023 and 2024. Current pricing represents the best value-to-availability ratio the lab diamond market has offered. Buyers waiting for another major correction are unlikely to see one.
Why do per-carat rates differ so much between product categories?
Tennis bracelets and multi-stone pieces use small individual diamonds sourced in bulk, which lowers per-carat cost significantly. Single large stones for rings and pendants are exponentially harder to grow at consistent quality grades, raising per-carat rates with size. Statement and cultural pendants carry design and labor premiums beyond the stone cost, which affects per-carat comparisons.
Are these prices in USD or CAD?
All prices in this index are in US dollars, converted from Draco Diamond's Canadian dollar pricing at the Bank of Canada mid-market rate of 1 CAD equals 0.73075 USD as of February 22, 2026. Draco Diamond is a Canadian corporation. Prices on the website are listed in CAD. This index converts them for US buyers and international editorial reference.
How much does a 5ct tennis bracelet cost per carat?
As of Q1 2026, a 5ct round brilliant tennis bracelet runs 409 USD per carat at 2,045 USD total. This is down from 526 USD per carat in Q1 2024. Tennis bracelets carry the lowest per-carat rates in the catalog because multi-stone pieces source smaller diamonds in bulk.
Can journalists use this data?
Yes. This index is published as a public reference updated quarterly. Attribute to Draco Diamond Corporation and link to this page. For additional data, interview requests, or custom queries, contact us at dracodiamond.com/pages/contact.
References
- Draco Diamond Price Index, Q1 2026. DTC per-carat USD across tennis bracelets, rings, earrings, and pendants. Accessed June 2026.
- Bank of Canada, daily exchange rates, 1 CAD equals 0.73075 USD as of February 22, 2026, accessed June 2026.
- Draco Diamond published catalog, dracodiamond.com. Accessed June 2026. Draco prices CAD, converted to USD for this index.
- International Gemological Institute, certification standards, accessed June 2026.
Real production cost, not legacy overhead
Every Draco piece is IGI certified, E to F color, VS2 clarity or better, in 10K to 18K gold, platinum, or silver. The certificate is included with every order. Free insured worldwide shipping to 25 markets, signature on delivery, free resizing, 30 day returns, Lifetime Authenticity Guarantee.
