Buying loose diamonds for an engagement ring, diamond jewellery or perhaps as an investment can be a daunting prospect. It’s a big decision and you will be spending a lot of your hard earned cash so you need to get it right.
This sight will provide you with all the information you need to help you in purchasing a single loose diamond or a selection of loose diamonds. Each section of the sight is there to educate you on what to look for when making your purchase, and there are a number of buying tips to help you along the way.
Most people would buy a diamond engagement ring or piece of diamond jewelry from a retailer or perhaps online, It’s fair to say that the most expensive part of the purchase is the diamond or diamonds that form the jewelry centrepiece as opposed to the surrounding setting. This is particularly true when purchasing a solitaire ring or other designs in which a larger diamond takes centre stage.
When buying diamond jewelry this way, it is very difficult to know if you are getting value for money, as it is very difficult to estimate the quality and therefore the true value of the diamond or diamonds that make up the piece.
The natural color of the diamond can often be camouflaged by the setting, inclusions in the diamond itself (which affect the clarity of the stone) can often be hidden by the setting and it is also difficult to evaluate the quality of the cut. There are methods for determining the carat weight of a diamond in it’s setting but these are quite complicated and seldom accurate.
Buying a loose diamond and then ordering a bespoke setting for your diamond will take away these uncertainties, and ensure you are getting the best possible stone for your money. You are also free to decide which is most important to you – the size of the stone or perhaps the color, clarity or type of cut.
By following the guidance and buying tips on this site you will be able to approach your purchase from an informed position, which will ultimately ensure you get the very best diamond your money can buy.
It is well worth approaching the purchase of your perfect loose diamond in a methodical way. This is probably contrary to the typical impulse purchase, but it will ensure you are getting the very best and most eye catching stone for your budget and avoid getting ripped off.
So, there are a number of questions you need to ask along the way. These questions are summarised below, and you can find a lot more detail to help you by following the links in each section.
There are a number of different diamond shapes to choose from. By far the most popular shape is round, but there are other shapes to consider including square (Princess cut) rectangular (Emerald cut), oval, pear, heart and marquise shapes.
Along with the shape of the stone, also consider the different cutting styles. Fortunately, there are only two main cutting styles, the brilliant cut and the step cut.
The most common answer to this question is ‘the biggest I can afford’. This is a perfectly good answer, and you would be surprised at how you can increase the size of the stone for any particular budget if you are willing to compromise on other factors.
Diamond are categorised by carat weight. By understanding how the cost per carat varies with each weight category it is possible to make considerable savings without compromising the visible size of the stone.
Diamond color is one of the most subjective choices you will need to make. The majority of diamonds on the market today range from colorless to a slight tint of yellow. All other things being equal, the less color, the higher the price.
The exception to this rule is colored diamonds, which are often referred to as ‘fancy’ colored diamonds, The ‘fancy’ colors are much rarer than standard colorless to yellowish stones and command a considerably higher price.
This is where a little knowledge can go a long way and either save you a considerable amount of money or allow you to purchase a bigger stone for your budget.
Diamond clarity is defined as the degree to which a stone is free from external marks called blemishes and internal features called inclusions. There are eleven clarity grades, varying from flawless to imperfect.
The higher the clarity grade, the higher the price of the diamond. Clarity grades are determined by viewing the stone at various angles through 10X magnification. this is an important point, as all inclusions at the upper end of the clarity scale are invisible to the naked eye. Why pay more for a stone with a higher clarity grade when lower clarity grade inclusions are still invisible to the naked eye?
Diamond cut quality refers to the proportions and finish of a stone. This is a crucial factor which can affect prices by as much as 50%. If a diamond is well cut and has good proportions, the maximum amount of light is reflected from the stone, giving it that characteristic sparkle and brilliance. The shape and size of the facets play a major role in determining the degree of scintillation, fire and sparkle.
In contrast, poorly cut diamonds can be dull in appearance, often showing dark centres or washed out areas in the centre of the stone that allows you to see right through it.
What is a Diamond Grading Report
A diamond grading report is an independent report produced by a diamond grading laboratory describing the quality of a loose diamond. The report will detail carat weight, color grade, clarity grade and cut grade.
If you are spending more than $1,000 on a loose diamond, it is essential that your diamond is accompanied by a diamond grading report. If this is not the case then walk away, there are plenty of reputable retailers that will be happy to supply a report with their loose diamonds.
A true diamond grading report is not an appraisal, and there is not a value or price indicated on the report. It’s simply an independent report that identifies and describes an unmounted diamond. Having said that, it will provide you with that level of comfort that you are getting what you are paying for and not getting ripped off.