When you’re shopping for a diamond, it’s important to understand the elements that will affect your diamond’s price. By understanding these elements, you can maximize your budget and make sure you prioritize the things that are important to you. Most people know that a diamond’s quality and carat weight will affect how much it costs, so people usually spend time learning about the 4Cs when they’re diamond shopping. But there’s also another, lesser-thought-about element of a diamond that has a huge impact on its price tag: its shape.

Diamonds come in many shapes, such as round, oval, princess cut, and emerald cut. While people often think of shape as a style consideration alone, it also has an enormous impact on a diamond’s price. Say you have two one carat diamonds with the exact same cut, clarity, and color grades. If one of those diamonds is a round cut diamond and the other is a fancy shaped diamond, the round cut diamond will cost between 20% to 40% more.

Different diamond shapes come with different price ranges and round is easily the most expensive diamond shape. Round brilliant cut diamonds are more expensive in part because more of a rough diamond is lost when you cut this shape, making the creation process more expensive. Round diamonds are also more expensive simply because they are extremely popular. Over 50% of all diamonds sold today are round diamonds, so diamond miners and jewelers know that they can charge more for such an in demand diamond cut.

Paying more for a round cut diamond can be worth it to some. If your heart is set on a round cut diamond, you may be happy to pay more to get the shape you want. However, if you’re open to a fancy shaped diamond, you could end up saving quite a bit of money on your engagement ring, your diamond studs, or whatever other diamond piece you’re in the market for. Or, alternatively, you could decide to use the extra room you’ll have in your budget to get a higher carat weight diamond with a better cut, color, and clarity grades.

Every diamond shape other than round falls into the fancy shaped diamond category. So, if you want to switch up your diamond shape to save on your diamond jewelry, you have plenty of options. Wondering which more affordable fancy shape would be the best diamond shape for you? Below, we’re going over nine beautiful fancy diamond shapes that all cost at least 20% less per carat than round diamonds.

Emerald Cut Diamonds

Emerald cut diamonds are one of the most affordable of all fancy shaped diamonds. This diamond shape, which looks like a rectangle with cut corners when viewed from above, features step cut facets that reflect large facets of light. Emerald cut diamonds have an icy quality that makes them quite dazzling and elegant, so they’re an excellent option for anyone who loves classic glamour.

Cushion Cut Diamonds

Cushion cut diamonds are loved for their timeless look and romantic appeal.The cushion cut diamond has a square or rectangular shape, but with rounded corners that give it a beautifully soft look. The cushion cut is actually an evolution of an antique diamond cut, the old mine cut, which adds a charming vintage element to the cushion cut diamond’s allure.

Asscher Cut Diamonds

The asscher cut originated in the Art Deco era, which is why this stunning diamond shape has so many geometric elements. Asscher cut diamonds are rectangular with cut corners and a distinctive step cut faceting pattern that creates an “x” shape within the diamond. Asscher cut diamonds add a highly chic element to more modern jewelry settings, but also look right at home in vintage styles, making them as versatile as they are eye-catching.

Heart Shaped Diamonds

The heart shape is the perfect diamond shape for someone who loves a bold and ultra romantic look. Heart shaped diamonds feature a classic heart shape and a brilliant cut, giving them a sublime shimmer that will make your heart skip a beat.

Pear Shaped Diamonds

Pear shaped diamonds, also known as teardrop diamonds, have a striking and sophisticated look. Pear shaped diamonds have an elongated shape, with one rounded end and one pointed end. It requires a very high level of skill to create this type of cut, so you may be surprised to hear that this is one of the more affordable fancy shapes. A pear cut diamond is truly a work of art, but pear shapes tend to be more affordable because they’re an uncommon choice.

Marquise Cut Diamonds

Marquise cut diamonds are beautiful and highly unique. This elongated diamond shape features pointed ends, with curved sides that arch to meet each end. Legend has it that the marquise cut was created in 18th century France when King Louis XV had his court jeweler create a diamond that resembled his mistress’s beautiful smile. With its antique roots, the marquise shaped diamond has an ethereal beauty that stands the test of time.

Radiant Cut Diamonds

The radiant cut is one of the more modern fancy cuts. This diamond shape is a hybrid that blends the elegant silhouette of the emerald cut with the round cut’s brilliant faceting pattern. Bold, distinctive, and absolutely stunning, the radiant cut is perfect for anyone who loves modern glamour.

Oval Cut Diamonds

If you’re drawn to the classic look of a round cut diamond but don’t want to pay a premium for the shape, an oval diamond may be your ideal choice. Oval diamonds are very similar to round diamonds in style, but come with a much more attractive price tag. And as an added bonus, oval cut diamonds also look larger per carat than round cut diamonds. So, if you choose an oval diamond instead of a round diamond, you can save money while also getting a noticeably larger looking diamond.

Princess Cut Diamonds

Last up, we have a modern classic: the princess cut diamond. The princess cut is a contemporary diamond shape that looks like a square when viewed from above. Princess diamonds are actually one of the more expensive fancy diamond shapes. Princess cut diamonds are very popular, coming second only to round diamonds in popularity. However, though princess cut diamonds are one of the more expensive diamond shapes, they’re still considerably more affordable than round diamonds. On average, a princess cut diamond will still cost 20% to 30% less than a round diamond with the same carat weight and qualities.