Diamond Price Calculator

This app allows you to predict the price of a diamond (in Singapore dollars) based on its

• carat weight
• color
• clarity
• certification body

It can help you understand how a diamond's features interact to determine the price, and give you a vital frame of reference to evaluate prices you see elsewhere!

The backbone of the price calculator is a model built using data about diamond prices and details located at http://www.amstat.org/publications/jse/v9n2/4Cdata.txt The model is built as follows:

download.file(method = 'curl', 
              'http://www.amstat.org/publications/jse/v9n2/4Cdata.txt',
              destfile = 'tmp_diamond_data.txt')
df <- read.csv('tmp_diamond_data.txt', sep = '', header = F)
colnames(df) <- c('carat', 'color', 'clarity', 'certification.body', 'price')
model4c <- lm(price ~ ., data = df)

Here's a look at the model's residulas from the training set

Over time we expect to continually improve our model so that its price predictions always represent the best available information!

We hope you'll use this app as a component of your diamond shopping whether you're a seasoned buyer, just browsing, or wondering how it all works! Please let us know if there are additional features you'd like to see in a later version!