Diamond is valued on the basis of its carat weight, and not on its size. Melee diamonds are small diamonds. The diamond weight for these melee diamonds ranges from a low as 0.001cts to 0.18cts. Customers refer melee diamonds as 'Diamond Chips'. Stones between 0.12ct and 0.18ct are called Coarse Melee. The diamonds in melee sizes are usually sold in parcels and lots.