When discussing a gem, what typically does 'per-caret price' reflect?

The term 'per-caret price' refers specifically to the price of a gem relative to its weight, measured in carats. Carat weight is a standard unit used in the gem and jewelry industry, with one carat equal to 200 milligrams. As gemstones typically increase in value with weight, the per-caret price provides a consistent method for comparing the prices of stones of different sizes. It allows buyers and sellers to ascertain a gem's value based on its weight, which is essential since the price of gems can vary significantly depending on their size, along with factors such as clarity, color, and cut. This understanding is crucial for gem dealers, collectors, and consumers alike, as it provides a common basis for evaluating gemstone prices in the market.