Quick and Easy Buying Guide
Carat weight: 1 carat = 200 milligrams = 6.5 mm diameter. Doubling weight doesn't double diameter.
Diamond clarity: FL/IF/VVS/VS = super expensive, near perfect. SI = best value if you can check a photo for obvious inclusions (defects).
Color: D-G = colorless, expensive, only if you have money to burn. H-J = best value. Can go lower in gold metal settings than white metal.
Cut: Better cut ratings let more light into a diamond, making it sparkle more. Very important property, don't skimp here.
Set a budget and minimum cut (Premium). Go J color for gold and I/H for white metals. Go searching for SI1/SI2 clarity diamonds at James Allen. Pick a diamond with small/no inclusions. Choose a ring setting and buy it risk-free (60-day returns).
Actual Size of 1.94 Carat Diamond
If you're thinking about how big a diamond with a 1.94 carat weight looks on a hand, here's a picture to give you an approximate idea. An average round stone with a 1.94 carat weight has a diameter of 8.2 mm; bear in mind that this can change if the cut is shallow or deep. The picture shows a ring which is US size 6; this is the same as an L 1/2 size in places such as Australia and Britain, and is an average ring size. The woman's hand shown in the picture has long and thin fingers - which may not be what yours look like - if your fingers are differently shaped, bear in mind that a diamond engagement ring may look quite different when worn.
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You also have to take into account the length and breadth of your fingers.