While natural diamonds won’t be around forever, they are still high in demand right now. According to Statista, 142 million carats were taken from mines in 2019. The pandemic saw diamond production slow somewhat, but the gemstone’s popularity remains intact.
These rough diamonds would have been polished and cut into all manner of shapes and used in rings, necklaces, bracelets, and other jewelry also.
One of the most popular, and indeed classical, shapes is the oval-cut. At the moment, they are not only one of the three most popular cuts for a diamond, but they are gaining popularity.
Who is buying big oval diamond rings right now?
It would be trite to say that everyone is buying big oval diamonds right now, but they are very much in vogue. Of course, big or high-carat diamonds are not in everyone’s price range, but for those that can afford them, they are in demand.
There are many common and popular shapes, and there are also some rare options such as the Asprey Cut. This is known for its brilliance as it has 61 facets. And it is only made from the best quality diamonds and cut purely by hand with no machines involved. This is the rarest perhaps of all cuts and is named after the London jewelers, Asprey & Garrard.
For most people though, it is the round-cut, the emerald-cut, or the oval-cut, which is most likely to be worn. And at the moment it is the oval that many celebrities are being seen wearing, especially for moissanite engagement rings.
Would you class an oval-cut diamond as being big?
Many people regard a 1.5-carat diamond as being plenty big enough. So, anything over 2-carats could be considered large. When it comes to celebrity engagement rings though, the number of carats in diamonds can be far higher.
It isn’t unusual to see a celebrity sporting an 8-carat diamond or something more than 10-carats even. Some celebrities have gone much further and sported 20 to 30-carat diamonds on their fingers.
Regardless of what celebrities enjoy, a 5-carat oval diamond ring can be regarded as an impressive piece of jewelry. And, it will come with an impressive price too.
Expect to fork out up to $280,000 for a 5-carat oval diamond if the clarity is graded as flawless, and it is a D on the color range. There is more about these aspects later on in this article.
Who are the celebrities who are sporting oval-cut rings?
You may have read recently that emerald-cut diamond rings are particularly hot now, and this is evidently true. Many celebrities have or had heart moissanite rings including that famously large one worn by Kim Kardashian.
However, her sister Kourtney Kardashian, or perhaps her fiance Pete Davidson, chose to go with an oval cut for her engagement ring. Despite the ring managing to look very elegant, it is estimated to be as high as 12-carats and cost around $1 million.
Ariana Grande is another celebrity who is enjoying an oval-cut diamond ring. Experts have estimated that her ring is probably in the 5-carat bracket or just above. So, if you want to get an idea of how a 5-carat oval diamond would look, just perform a quick search for the singer’s engagement ring online.
Blake Lively is one other celebrity who has an impressive oval-cut diamond, and this one has a rarer pink diamond that has been guessed to be worth around $2 million.
What should you look for if you want an oval-cut diamond?
If you are about to spend some serious money on jewelry, you need to know how to tell if a diamond is real. Fortunately, there are many extremely reputable diamond dealers and specialists available.
An oval-cut diamond is known for capturing the light and creating lovely sparkling flashes. It is a beautiful and elegant cut that suits this gemstone perfectly.
Color and clarity
However, oval cuts can leave a large table which means the clarity and color are more important than with some other shapes. Also, the weight of the diamond means that these aspects are more obvious.
Therefore you should gain some knowledge on how clarity and color will affect not only the appearance but the cost of your diamond. This is where a good specialist can really help.
Stick to a budget
Big oval diamonds can come cheaply, but they will be of poorer color grade and may have flaws that are visible or detract from their beauty. Nevertheless, it is important to stick to your budget, as the price of a 5-carat diamond can go from a few tens of thousands to hundreds.
Choose a cut to suit you
It is also worth noting that an oval cut can look quite large on dainty fingers. This is where the ratio comes into play. Ask your specialist about the differing ratios for oval cuts, and whether they recommend a more elongated shape, or a slightly rounder one for your hand.
Are diamonds still a good investment in 2022?
You don’t have to buy a ring to enjoy diamonds, and you may want to make purchases as a future investment. For sure, loose diamonds are an investment for life, and the value of diamonds just keeps on increasing.
The average price of a diamond has increased more than ten-fold over the last 50 to 60 years, and there is no reason why they should ever drop. As diamonds become rarer and harder to mine, their value can only increase.
Summary
Diamonds are found all over the world, and the Eureka diamond was the first one to ever be found in South Africa. It was discovered by a 15-year-old boy in 1867 and is now on display at the Kimberley Mine Museum.
Since then, billions of carats have been mined and cut into different shapes. While it is true that there are many unusual cuts, the oval shape appears to be one for the moment. It has hit something of a high note with celebrities and manages to be classical and modern at the same time.