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How to Buy
a Diamond... Simplified
Author: Sheila Chun
The key to
buying a diamond is a combination of having technical knowledge,
being market savvy and most importantly, developing an
“eye”. The most important rule to remember is that the
right diamond should jump out at you from the moment you see it. In
the diamond industry, all diamonds are graded according to the 4-Cs.
Understanding the 4-Cs and the diamond industry will allow one to
become a savvy diamond buyer.
Of the 4-Cs,
clarity is the hardest to determine by the average consumer and one
of the reasons to buy from a trusted jeweler. Grading starts at IF
(internally flawless), followed by VVS1 and VVS2 (Very very slightly
included). These two grades are very uncommon and for the money, is
not a good value to buy a stone in. You can never differentiate a
diamond between VVS1 and VS1 even under 100X magnification, yet the
price difference could be thousands of dollars. People who want the
best quality and value usually buy in the VS1 or VS2 level. SI-1 and
SI-2 are the next level. SI stands for slightly included with SI-1
being clearer than an SI-2 stone. If you see a stone that has a lot
of inclusions under a microscope but is not visible to a naked eye,
this is an SI-2 stone. Any stone that has flaws visible to a naked
eye will be an SI-3 or sometimes labeled as an I-1 stone. The rapport
will grade these stones down to an I-3. These are usually the stones
that are advertised for $399 a carat. For engagement ring quality
diamonds, it is recommended not to go below an SI-2.
Of the 4cs,
Color is the most visible to the buyer. The color chart starts at D,
with D/E/F being the most pure and the most white of all the diamond
colors. The second category is G/H/I, which is considered the near
colorless category and will have a varying hint of color. When the
majority of the diamonds were formed, gaseous elements such as
nitrogen were trapped in the carbon lattice thus causing variation in
the diamond colors. Within the J/K/L range, the buyer will be able to
see varying degrees of yellow in the stones. Although color is graded
down to Z, the rap sheet stops at M. For engagement ring quality,
anything below the color “I” is not recommended. The lower
color stones are usually made for other purposes.
Because the
prices for color do vary greatly, it is imperative for the buyer to
be able to differentiate between the colors. The only way to truly
grade the color is to compare the stones upside down, against a white
background and compare it to a master set of stones. For example, to
see an E color stone, it must be compared against a D and an F stone.
It is impossible to see color set in a mounting and empirically state
the exact color. For people who want the best value and quality,
buying a G color stone is ideal. A G color stone is noticeably whiter
then the H, but it is priced in the near color-less category of
stones, where the savings will be greater. To go with a high color
and lower clarity combination, such as an E color but good SI-2
clarity will also yield a good value.
Carats or the
weight of the diamond is the 3rd determinant of price. 100 points
equal a carat, and is impossible for human eye to see. Though a
diamond can be 1 carat in weight, it can look bigger or smaller than
its carat weight states. So when buying a round diamond of 1 Carat
size, look for stones that are at least 6.2mm in diameter. Also,
because the jewelry industry has a tolerance level of 5% difference
on stated carat weights on jewelry, this is why buying from a trusted
jeweler is key. It is impossible for any one to eyeball carat size,
you cannot tell the difference between a 1 CT tennis bracelet or a
.90CT bracelet, yet there is a big price differential.
Cut is the
most technical of the 4-C’s. The fact of the matter is that one
can see a diamond that is cut well versus one that is cut poorly. The
cut states that the crown (top of the diamond), pavilion (bottom of
the diamond) and the girdle (thin middle ring that divides the crown
and pavilion) should have ideal range that the diamond should be cut.
The last C is
the certs that diamonds carry and is the final component that affects
diamond pricing. Many stones that are above .75CT are certified by
independent laboratories. The certificates will plot a mapping of the
inclusions, give dimensions and measurements of the diamond, state
the polish and symmetry, fluorescence, and state if a diamond has
been enhanced. Although there are many labs that certify diamonds,
the most popular on the market are certified by GIA or EGL. GIA
(Gemological institute of America) has predominately been very strict
or rather on the conservative side of their grading, so GIA diamonds
tend to sell at a premium. EGL (European Gemological Laboratory) is
also very popular but sometimes have struggled with their
consistency. Thus their stones will usually sell 5 – 10% less
then a stone with the same grade from GIA. GIA stones are not
necessarily better stones then EGL certified stones. Plenty of
beautiful stones get sent in to be processed by EGL as they do GIA.
The price
difference for clarity and color affects the prices exponentially.
Buying a high color is where the buyer’s dollar will be well
spent. Clarity is impossible to see without a microscope but a
diamond of high color can be seen from across the room. If there are
two diamonds that have the same
level of quality, acceptable price points and even the same grading
from the laboratories, then let your eye be the final judge. After
all, you are ultimately buying a diamond for its beauty and
sentimentality. While only considering the technical jargon, let your
heart be the final judge. |
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