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The Price of a 2 Carat Diamond Ring in Canada

Anyone would be a happy with a .5 carat diamond ring, but many are curious how much it would break the bank to get a 2 carat diamond ring. In Canada, the price of a wholesale diamond will be based on the exchange rate of the main supplier in accordance to GIA guidelines.

While not mandatory, many jewelers follow the guidelines of GIA because they are the de facto resource of diamond quality and price information in the globe. With that said, here are the average prices of wholesale diamonds in Canada.

For the purpose of this article, we will focus on round diamonds as it is the most common. For more unique shapes, expect the price to be at least .5x higher than a round diamond.

How Much is a 2 Carat Diamond in Canada?

We’ll break this down based on color and clarity.


Diamonds are graded from D to Z. We will limit this estimate from D to K as those are the most appealing colors for diamond owners.

A diamond with a K color grade can cost from CAD $9,470 to CAD $15,215.43. A 2 carat K diamond can cost between CAD $18,940 to $30,430.86.

A diamond with a D color grade can cost from CAD $16,768.03 to CAD $68,314.18. A 2 carat D diamond can cost between CAD $33,536.06 to $60,861.72.


Diamond clarity ranges from i.f. (internally flawless) to si2 (some inclusions included to the 2nd degree). We will estimate the price without considering the color, but we will stay within the limit of D to K diamonds.

The lowest price of an si2 diamond is around CAD $9,000. The highest price would be around CAD $33,000.

For an i.f. diamond, the highest price is around CAD $68,000 and the lowest would be CAD $15,000.

For a 2 carat i.f. diamond, expect the price to be around CAD $30,000 to CAD $136,000.

For a 2 carat si2 diamond, expect the price to be around CAD $18,000 to CAD $66,000.

Tips When Buying 2 Carat Diamonds Most of the time, it is better to pay in cash. However, diamonds at this level can cost too much for a cash transaction. There are payment plans offered by diamond dealers in Vancouver. Don’t fret about the exuberance of the price because diamonds are indeed an investment. Diamonds are forever, are they not?

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