Diamonds, often called “the ultimate gem,” hold significant value for their beauty and symbolism of love, commitment, and status. In Pakistan, the diamond market has seen considerable growth, attracting buyers from various demographics. This article aims to provide an extensive overview of diamond prices in Pakistan, the factors influencing these prices, and tips for purchasing diamonds.
Current Market Prices
Quantity
Diamond Rate (PKR)
0.2 Grams
131,693.39
100 Milligrams
13,169.34
1/4 Carat
32,923.35
1/2 Carat
65,846.70
1 Carat
131,693.39
Current Diamond Prices in Pakistan
As of October 2024, diamond prices in Pakistan vary significantly based on quality, type, and source. Below is a detailed table summarizing current prices from various reputable sources:
Source
Type of Diamond
Price Range (PKR)
Belgian Jewels
Diamond Rings
91,000 – 600,000
Heritage Jewels
Diamond Rings
320,000 – 530,000
Kef Diamonds
Diamond Rings
195,000 – 1,155,000
Gemstone Pakistan
Diamonds for Sale
Varies by specifications
Golden Chennai
1 Carat Diamonds
20,000 – 120,000
Alibaba
1 Carat Diamonds
20,000 – 600,000
OLX Pakistan
Used Diamond Rings
Varies by seller
Patiala Diamonds
Diamond Ring SDSR15
3,900 USD (~1,100,000 PKR)
Asavir
Diamond Rings
91,000 – 244,000
Price Breakdown by Type
Engagement Rings: Typically range from PKR 90,000 to PKR 600,000, depending on carat weight and quality.
Wedding Bands: Prices usually range from PKR 200,000 to PKR 800,000.
Solitaire Rings: Can start from PKR 375,000 and go up to PKR 1,155,000 for higher-quality stones.
Cluster Rings: Generally priced between PKR 250,000 and PKR 600,000.
Overview of Diamond Pricing Factors
Before diving into the historical trends, it’s essential to understand the key factors affecting diamond prices:
Carat Weight: Larger diamonds are rarer and more expensive.
Cut Quality: The cut impacts the diamond’s brilliance and value.
Color: Colorless diamonds are generally more valuable.
Clarity: Higher clarity results in higher prices.
Market Demand: Economic conditions, trends, and consumer preferences influence prices.
Historical Price Trends for Diamonds in Pakistan (2024)
The following table summarizes the estimated average prices for diamonds in Pakistan during 2024. Prices are presented for different carat weights.
Month
0.25 Carat (PKR)
0.5 Carat (PKR)
1 Carat (PKR)
January
25,000 – 40,000
50,000 – 80,000
100,000 – 150,000
February
26,000 – 42,000
52,000 – 82,000
105,000 – 155,000
March
27,000 – 43,000
53,000 – 83,000
110,000 – 160,000
April
28,000 – 45,000
54,000 – 85,000
115,000 – 165,000
May
29,000 – 46,000
55,000 – 88,000
120,000 – 170,000
June
30,000 – 48,000
56,000 – 90,000
125,000 – 175,000
July
31,000 – 49,000
57,000 – 92,000
130,000 – 180,000
August
32,000 – 50,000
58,000 – 95,000
135,000 – 185,000
September
33,000 – 52,000
59,000 – 97,000
140,000 – 190,000
October
34,000 – 53,000
60,000 – 100,000
145,000 – 195,000
November
35,000 – 55,000
62,000 – 102,000
150,000 – 200,000
December
36,000 – 57,000
63,000 – 105,000
155,000 – 210,000
Key Observations
Gradual Increase: Throughout 2024, diamond prices have increased noticeably across all carat weights. This trend can be attributed to rising demand and market inflation.
Seasonal Variations: Prices tend to spike during certain months, particularly around festive and wedding seasons, which are significant in Pakistani culture.
Market Influences Economic factors, such as inflation and currency fluctuations, play a critical role in the pricing of diamonds. The Pakistani Rupee fluctuates against major currencies, directly impacting import prices and retail pricing for diamonds.
Price Comparison with Previous Years
To provide a clearer picture, here’s a comparison of diamond prices in 2024 with previous years:
Year
0.25 Carat Average (PKR)
0.5 Carat Average (PKR)
1 Carat Average (PKR)
2022
20,000 – 30,000
40,000 – 60,000
80,000 – 120,000
2023
22,000 – 32,000
45,000 – 65,000
90,000 – 130,000
2024
25,000 – 36,000
50,000 – 75,000
100,000 – 150,000
Popular Types of Diamond Rings
Type of Ring
Description
Solitaire Rings
A single diamond, timeless and classic for engagements.
Halo Rings
A central diamond surrounded by smaller stones enhances its sparkle.
Three-Stone Rings
Symbolizing the past, present, and future, featuring three diamonds.
Pave Rings
Multiple small diamonds are set closely together, creating a continuous sparkle.
Key Factors Affecting Diamond Prices
Carat Weight:
The weight of a diamond is measured in carats, with one carat equaling 200 milligrams. Larger diamonds are inherently rarer, leading to higher prices. For instance, while a 1-carat diamond may cost significantly more than a 0.5-carat diamond, the price increase is not linear due to the rarity of larger stones.
Cut Quality:
The cut of a diamond affects its brilliance and how well it reflects light. The quality of the cut is graded from Excellent to Poor. A well-cut diamond can appear larger and more brilliant, thus commanding a higher price.
Color:
Diamonds come in various colors, from colorless to shades of yellow and brown. The Gemological Institute of America (GIA) grades diamond color on a scale from D (colorless) to Z (light yellow). Colorless diamonds are typically the most sought-after and, therefore, the most expensive.
Clarity:
Clarity refers to the absence of inclusions (internal flaws) and blemishes (surface flaws). The GIA clarity scale ranges from Flawless (no inclusions visible under 10x magnification) to Included (inclusions visible to the naked eye). Higher clarity grades result in higher prices.
Certification:
Certification from recognized gemological laboratories such as GIA or AGS can also influence a diamond’s value. Certified diamonds often come with a grading report that details their characteristics, assuring buyers.
Where to Buy Diamonds in Pakistan
Buying Option
Description
Local Jewelers
Allows for in-person examination of diamonds.
Online Retailers
Websites like Kef Diamonds and Heritage Jewels offer convenience and selection.
Wholesale Markets
Competitive prices for bulk purchases; options available on platforms like Alibaba.
Classifieds
Platforms like OLX provide insights into market trends and direct seller negotiations.
Tips for Purchasing Diamonds
Tip
Description
Educate Yourself
Understand the 4 Cs (Carat, Cut, Color, Clarity) to make informed decisions.
Compare Prices
Explore different retailers for similar qualities and prices.
Check Certifications
Ensure diamonds come with certification from recognized bodies.
Ask Questions
Inquire about the diamond’s origins, treatment, and certification.
Consider Resale Value
Think about future resale potential based on brand and market demand.
Conclusion
The diamond market in Pakistan offers a vast array of choices, catering to various budgets and preferences. Understanding the factors influencing diamond prices, current market trends, and the types of diamonds available can help buyers make informed decisions. Whether purchasing for a special occasion or as an investment, taking the time to research and compare options will ensure you find the perfect diamond.
