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[i] The carat is divisible into 100 points of 2 mg. Other subdivisions, and slightly different mass values, have been used in the past in different locations. In terms of diamonds, a paragon is a flawless stone of at least 100 carats (20 g). [3] The ANSI X.12 EDI standard abbreviation for the carat is CD. [4]
For pearls and diamonds, weight is quoted in carats, divided into four grains. The carat was eventually set to 205 milligrams (1877), and later 200 milligrams. For touch or fineness of gold, the fraction of gold was given as a weight, the total being a solidus of 24 carats or 96 grains.
The carat weight measures the mass of a diamond. One carat is defined as 200 milligrams (about 0.007 ounces avoirdupois). The point unit—equal to one one-hundredth of a carat (0.01 carat, or 2 mg)—is commonly used for diamonds of less than one carat. All else being equal, the price per carat increases with carat weight, since larger ...
Diamond reports from GIA (as well as other, for-profit sources) are now demanded by most consumers purchasing diamonds over a certain size, typically for over 0.5 carat (100 mg), and almost always for over 1.0 carat (200 mg), and are considered an important tool in guaranteeing that a diamond is accurately represented to a potential buyer.
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In May 2009, a 7.03-carat (1.406 g) blue diamond fetched the highest price per carat ever paid for a diamond when it was sold at auction for 10.5 million Swiss francs (6.97 million euros, or US$9.5 million at the time). [59]