Updated February 2, 2023

5 Carat Diamond Ring

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How much is a 5 carat diamond engagement ring? Learn the realistic price to pay, plus smart tips to get best value without sacrificing quality.

A 5 carat diamond ring commands attention. Few people have the chance to enjoy the beauty and luxury of such an impressive diamond.

However, if you don't know what to look for, you can overpay by tens of thousands. You might even end up with a dull-looking stone.

This article will show you how to get the best possible diamond for your money. Review these buying tips and prices before shopping to find the diamond of your (or, her) dreams.

How Much Does a 5 Carat Diamond Cost?

A 5 carat diamond can cost $30,000 to over $400,000. The price depends on the quality of the diamond.

A flawless and colorless 5-carat diamond can cost close to half a mil. While a poor-quality diamond with visible flaws and a yellow tint will be on the low end of the spectrum.

But - the good news is that you don't need to spend over $400k to get a beautiful 5 carat diamond. The trick is to find the best value so it looks flawless, even if it doesn't have perfect specs.

In general, you can expect to pay $100,000 - $140,000 for a good value 5-carat natural diamond. If you're okay with a lab diamond, you're looking at the $15,000 - $35,000 range.

In the next few sections, we'll go over how to get a good deal on a 5 carat diamond.

Natural vs Lab Created 5 Carat Diamonds

Here are some sample prices of 5-carat diamonds.

A 5-carat diamond is a splurge. If you don't have the budget, luckily nowadays lab-created diamonds are super popular. You can get a large stone at a fraction of the price.

Natural DiamondLab Diamond
5 carat, round, E, VS2, Ideal$294,000$25,000
5 carat round, H, VS1, Ideal$165,000$18,000
5 carat, princess, F, VVS2, Ideal$188,000$24,000
5 carat, cushion, G, VS1, Ideal$130,000$19,000
*Pricing based on typical market price of online diamond retailers as of 2023.

Lab diamonds are real diamonds with identical chemical and physical properties as those created from the earth. But labs can grow larger stones way more easily, whereas natural 5-carat diamonds are extremely rare. So they can be more than 80% cheaper than natural mined diamonds.

For the same gemstones with the same properties, lab diamonds are the way to go if you want to make a huge statement on a small budget.

Now that you have a realistic price expectation, read on to learn how to choose the best diamond for your budget.

On the hunt for the perfect engagement ring? Get a customized budget based on your income, debt, savings, and more with our engagement ring calculator.

How Big is a 5 Carat Diamond?

A 5 carat diamond will look huge on the finger. It's sure to turn heads and be the talk of the room. It's definitely for those who like to be noticed!

Here's how a 5-carat diamond compares against other carat weights:

Diamond SizeDimensions (mm)Face-up area (mm2)
1 Carat6.4 x 6.432.17
2 Carat8 x 850.27
3 Carat9.3 x 9.367.93
4 Carat10.2 x 10.281.71
5 Carat11 x 1195.03

There is a difference between carat weight and size. Carat refers to the weight of the diamond, while size refers to how large it looks faceup.

A 5 carat diamond weighs 5x more than a 1-carat diamond. But it's not five times as large. The surface area is actually about 3x larger than a 1-carat diamond.

The shape of the diamond also affects size. Some shapes appear larger even if they're the same carat weight. Here are the surface areas of 5-carat diamonds of different shapes:

Diamond ShapeDimensions (mm)Face-up area (mm2)
Round11 x 1195.03
Princess9.4 x 9.488.36
Cushion9.6 x 9.690.3
Oval13 x 9.698.02
Emerald11.5 x 8.294.3
Asscher9.3 x 9.386.49
Pear14.7 x 9.4 mm97.5
Marquise17.8 x 9.1113.4
Radiant10.3 x 8.789.61
Heart10.8 x 11.3 mm85.36

Elongated shapes like oval, pear, and marquise look the largest. Asscher diamonds tend to appear the smallest.

Pro tip: Since oval, pear, and marquise diamonds appear larger, you can also save money by buying a lower carat weight in one of these shapes, and they'll appear larger than they are.

5 Carat Diamond Color

For a 5 carat diamond, H color will provide a good balance between beauty and price. H appears white, but is priced much lower than diamonds in the colorless grades.

However, larger diamonds will reveal tints of color more easily, especially for certain diamond shapes. Here are some special considerations:

  • Elongated shapes like oval, pear, and marquise tend to trap color at the pointed ends.
  • Emerald and asscher diamonds also display more yellow. These cuts are not as brilliant and have a large open window.

If you're going for one of the above fancy shapes, or if you're particularly sensitive to color, you may want to upgrade to G color.

If you set the diamond in a yellow gold or rose gold ring, you can go down to I or J color grade. The diamond will appear white against the gold bands, so there's no need to pay for a higher color grade.

5 Carat Diamond Clarity

Larger diamonds show more flaws as their facets are larger. So, it becomes even more important to make sure that your diamond is eye-clean.

Usually, VS2 clarity is a safe choice because the flaws are not visible to the naked eye at this grade. The brilliance of the diamond can also hide small flaws.

However, for emerald and asscher cut diamonds, consider upgrading to VS1 clarity. These step-cut diamonds have a large open table that reveals all flaws.

If you purchase the diamond online, just be sure that you can see actual photos/videos of the diamond to verify that it's eye-clean. Some types of flaws may be more visible depending on their location.

5 Carat Diamond Cut

Cut is the most important feature for a diamond. An excellent cut diamond will be brilliant and sparkle beautifully. But a poor cut will make the diamond look dull and flat.

Always go for an Ideal/Excellent cut. There can be a significant price difference between cut grades. But this is not something you want to sacrifice. For a diamond this large, the last thing you want is one that doesn't sparkle.

If an Excellent cut is going out of budget, it's better to downgrade color and clarity instead. An excellent cut can make the diamond so sparkly that it hides flaws and masks color. Another option is to consider a different shape to save money.

5 Carat Diamond Settings

For something as bold as a 5-carat diamond, you definitely want it to be the center of attention.

  • A classic solitaire will put all the focus on the diamond itself. Look for a 6-prong setting to really secure the large stone.

  • If you're active with your hands, a trendy bezel setting will protect the diamond more. It has a rim of metal around the diamond for extra security.

  • If you want to jazz it up a little bit, a pave ring will add bling to the band while still remaining elegant and letting the diamond be the star.

Where to Buy a 5 Carat Diamond

A 5 carat diamond may be hard to come by at your local jeweler. A lot of jewelers don't have such a large diamond in stock.

And even if they have one, it could just be that one option. It may not be the shape or quality that you're looking for.

This is why you'll want to shop with a reputable online jeweler. They usually have much larger inventories and more competitive prices.

It's important to only buy diamonds with the proper certification. We recommend GIA or AGS certification, as these two labs have the highest grading standards.

Here are the top online jewelers for high-quality engagement rings:

How to Save on a 5 Carat Diamond

Are you really set on achieving the 5-carat bragging rights? Or do you simply want an engagement ring that looks huge?

If you want a diamond that looks huge, but don't quite have the budget for a 5-carat diamond, there are some tricks to save, while achieving the look.

  • Go for a lab-created diamond.
    One of the best ways to save is to choose lab created instead of natural. Lab-created diamonds are identical to natural diamonds so they sparkle just as beautifully. But because they are made in a lab, they can cost 75% (or even more) less than natural diamonds.

    The downside though, is that lab-created diamonds don't have much investment value. A high-quality natural 5 carat diamond can be an investment piece.

  • Choose a different shape.
    Some diamond shapes look a lot larger than others. Elongated shapes like oval, pear, marquise, and emerald have larger surface area. You can save by getting a smaller carat size, and it can still appear as large as a 5-carat diamond.

    Plus, fancy shape diamonds can cost up to 40% less than round diamonds. So there's potential for major savings (even more so if you go with a lab-created diamond).

  • Use the halo setting.
    The halo setting is the best option for making a big splash with less money. It has a ring of small diamonds around the center stone. From far away, it looks like one big diamond.

    A halo can add 2mm width to the overall diameter. This means you can get a 3-carat diamond, pair it with a halo ring, and have it look as big as a 5-carat diamond.

    A good value 3-carat diamond will run you around $35,000 ($25,000 for lab created). Add around $1,500 - $2,500 for the halo ring. You'll get a huge looking engagement ring for much less.

Bottom Line

A 5-carat diamond is sure to be a showstopper. For some women, it's too much and looks too showy. For others, 5 carats is the perfect size.

The most important is to focus on cut quality. A diamond this size is meant to be shown off and you want it to sparkle brilliantly. Don't sacrifice quality just to reach this carat goal.

Anna G is a research director at CreditDonkey, a diamond jeweler comparison and reviews website. Write to Anna G at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.


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