Diamond Buying Guide

When you choose to give a diamond you are over the hardest part. A diamond is a symbol of love and commitment and you have decided to take the biggest step of your life. What comes next can be hard or easy. We will help make the job easy because a big part of our job is to teach you about diamonds. Once you know the basics, you can start making decisions about the diamond you will buy. Diamonds can be very expensive. So, cost becomes part of the equation. We will help you understand how price and quality are related when you choose your diamond.

Let’s get started with our diamond buying guide. Here are the basic steps that lead you to your perfect diamond in no time at all.

The Budget For Purchasing a Diamond

If you have set aside a certain amount of money for buying a diamond, you will want to buy the best looking diamond for that price. Remember that the diamond you are buying is symbolic of love and a lifetime together. It is not, and should not be, a measure of how much money you can spend. Keep that thought in mind as you look at diamonds and do not let anyone pressure you or shame you into spending more than you can afford.

The way to stay within your budget is to learn about diamonds, what makes them unique and beautiful and how quality is related to price. Do your research and find out the price of the ring that interests you. Then adjust the characteristics of the diamond, known as grades, so that the diamond you buy matches your budget. Depending on the price, you may want to buy a larger or smaller diamond as measured in carats. Or you may choose a different style, grade of cut, level of clarity, or grade of color. After you have learned some basics about diamonds, this will be much easier.

Getting the Timing Right for Your Diamond Purchase

No, we are not going to tell you when or how to propose marriage! Our issue with timing has to do with having the diamond set in a ring and ready to present when you are ready. Normally it takes two weeks to get the ring ready once you have chosen the diamond. You can get around this issue by purchasing a ring out of the jeweler’s display case. The drawback to this approach is that you have not learned anything about diamonds and may or may not be happy in the end with the carat weight, cut, color, or clarity of gem. People are usually happier with their diamond purchase if they take the time to learn about the various aspects of diamond quality. On the other hand, this does not have to be a task that takes months and months. Learn what you need to and, when the knowledge is fresh in your mind, make your choice.

Choose Diamond Shape First

For any given carat weight, the first thing that anyone notices about a diamond is its shape. The most popular shape is round with what is called a brilliant cut. But, many women prefer other, perhaps more trendy, shapes. If you know that she or he prefers a shape other than round, that is the way to go. Look at diamonds of various shapes and then choose the shape you are going to buy. It will get very confusing if you find yourself bouncing back and forth between different shapes when you are considering the cut, color, and clarity of the diamond.

Basic Diamond Characteristics: Diamond Cut, Diamond Color, Diamond Clarity, and Diamond Carat

In the world of diamonds, these are commonly referred to as the 4 C’s. The larger the carat weight of a diamond, the more it costs. Likewise, better grades of cut, color, and clarity make a diamond more expensive. To stay within your budget, ask to see a diamond of your chosen shape and within your price range. Then you can consider which factors are most important to you. If you want a larger diamond, that will increase the carat weight. To compensate you will need to reduce the quality of the diamond’s cut, its color grade, its clarity grade or some combination of all three. Likewise, if what you want is the most sparkle, brilliance, and fire, you may choose to buy a diamond of lower carat weight but better cut, color, and clarity.

Remember this when you seek to balance the 4 C’s to get the best diamond to fit your budget. The price differences as you increase carat, clarity, color, and cut are in larger steps than when you reduce them. So, if you want to go up one carat size, you might end up going down a couple of grades in one of the other diamond characteristics.

The trick is to find the grade levels of cut, color, and clarity that look OK to you. The same applies to carat. There are perfect diamonds of complete clarity, perfect cut, and the best color grade. And, no one, except an expert gemologist with ten power magnification, will be able to tell that diamond from one that is a couple of grades lower in the various categories. You will get the best quality for your budget if you buy at the lower end of the grade levels. Here is where you ask the gemologist for advice.

Fine Tuning Your Purchase: the Right Diamond Choice

So, here you are with a much better diamond that you ever believed you could afford on your budget. Maybe you are getting such a great deal that you are saving money! There are just a couple of things to consider before you buy. Is there a reason that the diamond is so inexpensive? There is always a reason that a diamond is inexpensive compared to similar stones.

There may be issues in regard to polish or symmetry. Or it may be a matter of strong fluorescence. Ask about these issues just in case. If the jeweler does not want to discuss these issues you may want to try someone else. Do not buy a cheap diamond only to learn later that you missed a major defect.

Diamond Price vs Value

The price of a diamond is determined first of all by its carat weight, cut, color, and clarity. However, there are other factors to consider.

When you buy a diamond at a jewelry store you get to look at the gems. And you get to ask questions. Many of us are more comfortable in such a situation dealing with a person instead of looking at pictures of diamonds in an online catalog. However, it is more expensive to run a brick and mortar jewelry store than to sell diamonds online. Thus, you will pay more for the exact same diamond when purchased in the store than if you were to buy it online.

The issue here is that unless you talked to someone, you may not have chosen the diamond you chose and probably would not have known how to make the choice. And, of course, there is an issue of trust. Many of us prefer to talk to a real live person.

There is a way to make sure that you can buy online and are getting the diamond quality that you are paying for. You can have a high-quality diamond certified by the Gemological Institute of America (GIA). When you do that, you will be getting exactly the carat, cut, color, and clarity that you are paying for. If you have more questions in this regard contact us.

We typically suggest a mixed approach. Go into a jewelry store and look at diamonds. Shop around at more than one store. And, do your research online as well. Remember that you will be buying a diamond but also the ring and setting, as well as wedding bands. No matter which route you take in the end, you should trust your choice and the folks you are dealing with.

Setting Your Budget for a Diamond

Years back it was said that you should expect to pay an amount equal to three months of your salary for an engagement ring. Think of that as a sales tactic and ignore it. You can also look online as many people do. But, there is no set price and no rule for how much you should spend.

So, how do you proceed? A good approach is to do a bit of research first of all. Learn about the 4 C’s that measure diamond quality and determine the price. Go ahead and look online for price suggestions. Or simply go into a jewelry store, look at diamonds, and ask about prices.

When you have decided about the shape of diamond you want, and its size, see what price will get you that diamond. And, always keep your budget in mind. If the diamond is less expensive than you anticipated, think about whether you want a larget carat weight or a cut with more sparkle. If the price is beyond your budget, ask to see smaller diamonds, or ones that are lower in grade for color, cut, and clarity.

This can be done in a methodical and stress-free manner to arrive at a diamond that fits your budget and your sense of beauty and style.

Remember to set your budget first and do not let a salesperson browbeat you or shame you into buying something you cannot afford or just do not want. The process of choosing a diamond for one of the happiest times of your life should make you happy as well.

Diamond Purchases: Do and Don´t Do

Do these things when buying a diamond

• Research your options and compare prices

• Always ask the gemologist or jeweler what they recommend

• Work from your budget at all times

• Decide in advance to save money from each paycheck to buy the diamond

• Or, talk to the jeweler about financing options

• Ask about insurance for your diamond

• Know the 4 C’s and use them to get the best value

Do not do these things when buying a diamond

• Go way past your budget

• Let the salesperson bully you into making the wrong purchase

• Neglect to do your homework and make a last minute decision

• Buy a diamond without asking advice from anyone, especially the jeweler

• Try being too fancy or creative as her or his preferences may not match yours

Diamond Insurance and Diamond Certification

Losing an engagement ring is an emotional loss but a monetary one as well. When you have purchased a diamond ring, make sure to insure it. Your homeowner’s insurance will not cover the loss of a ring but you can talk to your insurance agent and get an extension on the policy. A better choice may be to go with someone who routinely insures jewelry, such as Jeweler´s Mutual or Lavalier. While photos and the bill of sale will be proof of purchase, they will not fully demonstrate the insurance value of the diamond.

We recommend getting an appraisal. The appraisers we recommend commonly appraise for about 30% above the purchase price as a fair coverage in case of loss. But, what if you have purchased a really high-quality and expensive diamond? In that case, we strongly recommend certification by GIA, the Gemological Institute of America. This is your assurance of the exact grades of your diamond and proof for the insurer of its worth.

Buying a Diamond in the Store or Online

Once you know everything you need to know to buy a diamond, you will be able to get discounts ranging from 20% to 50% online as opposed to what you would pay in a jewelry store. However, when you buy a loose diamond online you will still need to see the jeweler to have it set in a ring. And, many if not most of us feel more secure when we can hold the diamond in our hands and see it with our own eyes before paying for it. If you know and trust the jeweler, this may be the most important aspect of your decision.