Carat is the unit used to weigh diamonds.
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Shape concerns whether the diamond is round emerald cut or pear shaped for example.
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Diamonds smaller than 24 carat work well as decorative accent stones in a ring or necklace.
Loose diamonds come in a number of sizes from small dainty stones to large gleaming solitaire stones.
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The gemological institute of america gia created the 4cs grading system for diamonds color cut clarity and carat weight.
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Cut is different from shape.
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When buying small loose diamonds or any other diamonds a buyer should consider the 4 cs.