Diamonds are a woman’s best friend… at least that’s what people have heard for years. Because of this, the diamond industry has certainly gotten a boost. However, if you have never purchased a diamond ring or a loose diamond, you might be wondering what details affect the price of these “coveted” items and which one will work best for you. Here are our seven top things to consider when buying a diamond:
1. Diamond Carat Weight
The price of these diamonds are most affected by the weight of the carat. Keep in mind that the weight of the carat is extremely important because it will determine the diamond’s price.
If you’re looking for a diamond ring for your soon-to-be fiancé or wife, what expectations do you have? Does she want a one-carat diamond or something smaller or bigger? It’s important to do your research before you go buying a diamond. If you can’t speak to her directly about it, ask her family and friends to learn what it is she would like.
2. Diamond Shape and Cut
Carat weight is not the only thing you should base your decision on. You also need to decide on what shape of diamond your significant other would want. Of course, the answer will depend solely on aesthetics. There’s no way to calculate what shape she’d like; you’d just have to talk to her friends (or her, if she knows you’re getting one for her). It’s likely she’s talk to someone about this very issue before.
If you’re unable to ask her and cannot get an answer from her friends and family, the safest option is to go with the Round Brilliant. Round diamonds are actually the most common shape. The price of the loose diamond is also affected by its shape. Round diamonds will generally cost more than the fancy shapes because round brilliant diamonds that are certified have a lower revenue from rough than you see with the fancy shapes.
Bear in mind that the majority of websites offer a 15-30-day return policy. If you purchase the ring -close to the date you want to propose and it’s not the right type of ring, you can return the ring and purchase the one she’d really like to have.
3. Diamond Quality
Finding out the answers to the first two questions will help you with the technical decisions. However, you also need to know the diamond cut quality. The cut quality has a noteworthy effect on the loose diamonds’ price.
It can be a bit difficult to pick a cut quality because the grades are not all equal among vendors. Some vendors have a cut grade on round diamonds, using the certificate’s cut grade. Some vendors will ignore the certificate’s cut grade, using their own matrix and the diamonds’ measurements.
What should you do? Go with the certificate’s cut grade, not the website’s cut grade whenever you can.
Here’s some advice to make things a little easier for you:
If you want a round brilliant diamond, look for grade diamonds that are Ideal/Excellent. If you want the fancy shape diamond, it’s best to look for a “Premium” cut grade or forget the cut grade altogether.
Does this mean that the cut grade isn’t very important? Not at all! It’s very important. It’s just saying that vendors won’t always identify what the fancy shape cut grades are so why ignore them when they could be excellent choices.
4. Diamond Color Grade
The color of a diamond will have a profound effect on the price and appearance of a loose certified diamond. You might be wondering what color to go with, this will actually depend on you. Keep in mind that the shapes of a diamond will reflect color in various strengths. What does it all mean? Simply put: the diamond shape you go with will affect its price, appearance and color. Go with the best eye-clean diamond you can find and take a look at it away from the purposefully flattering jewelry store lighting.
5. Diamond Clarity Grade
Clarity should not be looked at in terms of sliding grades scale. Rather, it should be looked at through a more practical method: eye-clean. The thing you need to consider is if the loose diamond appears clean just by looking at it. Often times, if the diamond is eye-clean, spending more money on a higher clarity grade that you won’t be able to appreciate isn’t a good idea. The best thing you can do is purchase a lower clarity grade that looks clean when you look at it, allowing you to save the money to get a bigger diamond or a whiter color diamond.
With the majority of online vendors, this can be difficult to do because you’re not able to see the diamonds before you purchase it. Keep this fact in mind when you shop online and stick with reputable stores such as James Allen or Blue Nile.
6. Diamond Polish, Symmetry and Florescence
The value of a stone is affected by the symmetry, polish and florescence in some part. However, the stone’s value is affected more by the color, size, shape, quality grade and clarity.
7. Diamond Lab Certificate: What Should You Look For
When you’re searching for a loose diamond, you have the option for AGS certified diamonds and GIA certified diamonds. You also have the option for HRD, EGL and IGL certified diamonds but it’s best to steer clear from them because they have some grading inconsistencies. Also be sure to look for any fracture filling or treatment the diamond might have had, as this should be clearly indicated on the grading report and will lower the price of the diamond.