Diamond chips are usually small (less than 0.2 carats in weight). Diamond chips are much cheaper per carat compared with diamonds that are cut and polished.
The reason for this is not only the small size of chips – they are also cheaper than cut and polished diamonds of the same size.
Diamond chips have low value manly because they are not faceted.
As a result, these stones do not bend and reflect light the same way faceted diamonds do.
Because of this, chips have much lower brilliance than stones cut with facets.