How Much Does a 2 Carat Oval Lab Grown Diamond Cost?

A 2 carat oval lab-grown diamond costs about $2,250 to $2,960 as a loose stone in Australia, with a median of $2,666. That is the middle 80% of the 39 oval stones between 2.00 and 2.09 carats on our live feed on 17 September 2026. The full range runs from $2,226 to $4,078, and every stone is D to F colour, VS1 clarity or better, and IGI certified.

Set in a finished engagement ring, a 2 carat oval costs $4,500 to $5,500 in 18k gold, or $4,550 to $5,650 in platinum. Those are the fixed prices of our eleven complete 2 carat oval rings, each made with a 2.00 to 2.09ct, E to F colour, VVS1 clarity centre stone.

One thing sets ovals apart from rounds: the grade on the report predicts the price much less well. Below is where the money actually goes.

6 stones listed at more than twice the median for their group are left out of the price ranges, because they are priced far above stones of the same weight and grade.

A 2 carat oval faces up at about 10.3mm long and 7.1mm wide, which is why ovals look larger than rounds of the same weight. Dropping to between 1.90 and 1.99ct saves only about $80 at the median and shortens the stone by around 0.2mm. The bigger saving is a step further down: stones between 1.80 and 1.89ct had a median of $2,199, about $470 less, at 9.9mm long.

Not on our feed this week. Comparing stones of the same clarity across weights:

At VVS1, the 2.00 to 2.09ct ovals actually had a lower median than the ones just under 2 carats. At VS1 and VVS2 the step up to 2 carats added about $100. Price per carat was almost flat from 1.90 to 2.19ct, at $1,312 to $1,324. So with ovals there is little round-number premium to dodge, and choosing a 1.97ct stone mostly buys you a slightly smaller oval rather than a real saving.

Among the 2 carat ovals, the higher grades were not the expensive ones:

VVS1 ovals had the lowest median of the three clarity grades, and D colour ovals had a lower median ($2,350) than F colour ($2,750). That is largely because an oval is priced on how it looks as much as how it grades. Its proportions, how evenly it returns light and how strong its bow tie is all move the price, and none of them appear as a single grade on the report.

The bow tie is the dark band some ovals show across the middle. A stone with a faint bow tie can cost more than a higher-graded stone with a heavy one. Our guide to the bow tie effect explains what causes it and how to judge it from a video.

Length to width ratio matters too. Most 2 carat ovals on the feed sat between 1.40 and 1.45, the classic oval outline, with medians of $2,668 and $2,728. Longer, slimmer stones above 1.50 were few, and their prices were in the same range.

Every ring below comes with a 2.00 to 2.09ct, E to F colour, VVS1 clarity, IGI certified oval, set on a 2mm band in solid 18k gold or platinum. The price includes the diamond and the setting:

At that stone grade, a loose 2 carat oval runs $2,244 to $4,078 on its own, with a median of $2,810. The rings differ by design: the plain solitaire and the east-west solitaire are the lowest priced at $4,500, hidden halos, a bezel and a pavé band sit in the middle, and the halo and three-stone designs carry more diamonds and more metal.

If you would rather pick the oval yourself, for example to choose one with a faint bow tie, you can do that in our ring builder and pair it with a setting.

On our feed it costs slightly more. The median 2 carat oval was $2,666 against $2,554 for a round, about 4% higher. Ovals are often described as cheaper than rounds because less rough is lost in cutting, but lab-grown prices have fallen so far that the shape gap has mostly closed. What you do get with an oval is a stone that looks bigger on the hand for the same weight.

As of 17 September 2026, most 2 carat lab-grown ovals cost $2,250 to $2,960 loose, and a complete 2 carat oval engagement ring costs $4,500 to $5,650. With ovals, judge the stone rather than the report: a well-shaped oval with a faint bow tie is worth more than a higher grade on paper. Browse our 2 carat engagement rings for live prices, or read the oval cut buying guide before you choose.

Thanks for reading, Jared and Brie