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The measurement used to describe a diamonds weight is known as carat. A one carat diamond equals 0.20 grams and it is then divided into 100 points, so a half carat .50ct is also known as a 50-point diamond.
The value of the diamond is made up of many factors, this does include the weight but also the cut, colour and clarity, so two half carat diamonds are likely to have different values due to the composition of the individual stones. Two stones of equal weight can also appear slightly different in size and this is dependant on the cut of the stone, possible one diamond has been cut deeper than the other. If you are looking at diamonds already mounted, the variance in settings can also change the size appearance of the diamond. There are many different shapes of diamonds available to us, depending on what shape diamond you select these can also impact the overall visual appearance of the size and weight of the stone.
Market demand and rarity are contributing factors in the pricing of diamonds. The larger a diamond is the fewer there are available as they are naturally scarcer in nature. This influences the pricing of the diamond, for example two half carat diamonds will cost less than a 1 carat diamond with the same compositions such as cut, clarity and colour. The availability of one carat diamonds is fewer than half carat diamonds.