According to an article of Business Insider published on September 22, 2014, a colorless, 1-carat diamond can cost more than $65,000 per gram, or $13,000 per carat.
1 pound is equivalent to 453.592 grams; 1 pound is 2,267.96 carats, therefore a pound of a 1-carat diamond can cost around $29,483,480.
Please note that not all diamonds are as valuable and pricey as those you can see in the showrooms of jewelry stores. Most stones found in nature have a lot of imperfections and defects, which make the value of such diamonds relatively low.
The price of diamond jewelry will depend on the cut, color, clarity, and carat weight.
Diamonds may be a girl's best friend, but with the dizzying array of natural diamond types, synthetic diamonds and convincing costume-jewelry fakes on the market today, how does a smart shopper choose? Check out some diamond-buying tips from the pros at Bankrate.com.