Carat weight has the greatest influence on a diamond's value. Diamonds of different shapes can look different in size even if they have the same carat weight. Carat weight measures a diamond's weight, with one carat equal to 200 milligrams. Each carat is divided into 100 points. Diamonds are priced per carat (Ct), and as the weight increases, the price per carat also rises. This means the price per carat for a 1-carat diamond is higher than for a 0.99-carat diamond.