diamondbuying

(A Smart Way to Buy Diamond Jewelry)

by George D. Yee

Getting Value for Your Dollar

If you are thinking about buying diamond jewelry, you're not alone. Most people will be buying a diamond at least once in their lives. Diamonds are bought as gifts, tokens of love, and status symbols. They are even bought for investment purposes. But if you buy diamonds without knowing what you're doing, you could turn a very happy occasion into one clouded by worry over making a poor diamond investment.

Diamond costs are in the range of expensive video cassette cameras and stereo systems, so you should consider buying a diamond a major purchase. But the diamond is one of the least understood consumer product around. There is hardly any written consumer information on diamonds. When was the last time you saw a buying guide for diamond jewelry on the magazine stand? You certainly will see the ones for video equipment and stereos.

I knew very little about diamonds when I started shopping for a diamond engagement ring. The first thing I learned about diamonds is there is a tremendous price range. A one-carat diamond could cost anywhere from $1500 to $6000 depending on the quality and dealer markup.

After visiting several jewelers in the shopping mall, I concluded most of the diamonds were low quality, especially the ones advertised at low prices. They were off-color and had visible flaws. The ones that were nice were way out of my price range.

Well I wasn't content on getting my fiance a mediocre diamond ring. Some of the jewelers had better prices than others on diamonds of similar quality. All I had to do was to shop around more to find the best deal. And that's what I did! Over the course of the next few weeks, I scoured the city looking for the best deal. I took notes and learned a great deal about buying diamonds.

All this effort on my part paid off. The diamond ring I bought is beautiful. I bought it at a full-service jeweler, but at a very good price. I paid $2400 while many jewelers were charging between $3500 and $4000 for the same quality diamond. The ring was appraised at a value of $4300 by an independent gemologist shortly after my purchase.

The following information will help you choose your diamond purchase wisely. Not only will it allow you to find a better price, but it will help you in choosing the right quality rating.

Diamond Facts

From Webster's dictionary, a diamond is a native crystalline carbon that is usually nearly colorless, that when transparent and free from flaws is highly valued as a precious stone.

Rough diamonds are mined in South Africa, West Africa, Russia, Asia, and South America. After mining they are cut into polished diamonds. The major cutting centers are in India, Belgium, Russia, Israel, United States, and South Africa.

Diamonds are chosen wisely using the qualities of color, cut, clarity and carat weight.

Color

The best color for a diamond is no color at all. A colorless diamond allows the white light to come through without blocking off some of the brilliancy. Recalling our definition of a diamond, we are looking for a stone that is near transparent. The perfect color for a diamond might be compared to the crystal clear sparkling color of water running in a mountain spring. The water is colorless and clear. And because it is free of any coloration, it sparkles.

Some diamonds have definite and attractive colors of canary yellow, pink, blue, or green, but these are very rare and expensive. Avoid colors of brown, grey, or black because they are not desired highly.

Most colorless diamonds in fact range from the completely colorless to light yellow or brown colors. Colorless diamonds are the most valuable, while stronger levels of yellow detract from the value. A very poor color may significantly decrease value.

Diamond color is graded on the following G.I.A. scale:

The standard procedure for grading a diamond's color involves comparing the color of a specific stone to another diamond from a master color set. An expert places the diamonds table down in a folded white holder and compares the colors of the two stones by looking down through the pavilion facets. The use of white neutral light is important. White fluorescent light is good for this purpose. Color grading is very important and requires experienced eyes.

Most diamonds found in jewelry stores today will fall in the F to R color range. The average consumer may be aware of a noticeable coloration once a stone is below an L color while many jewelers can immediately spot a stone below an H color. Most jewelers tend to reserved better stones for rings with more yellow stones used for earrings and pendants. Ask to look at diamonds of various colors to get familiar with the differences.

Many jewelers use the G.I.A. color scale. If they use their own scale, have them relate their scale to the G.I.A. scale. If they are unwilling to do so, leave the store. Reputable jewelers want you to know the color grade of their diamonds and will always be willing to tell you the color in terms of the G.I.A. scale.

Cut

Diamonds are available in various shapes: round brilliant, emerald, marquise, oval, pear, heart, and trilliant. The particular shape is a matter of personal preference. I like the round brilliant because it reflects the most light and sparkles more than the other shapes.



     Here are the parts of a round brilliant diamond:

                Top surface is   Table

                Table   --->/=============\

                Crown   ->/   Crown Facets  \

                Girdle ->|===================|

                          \ Pavilion Facets /

                            \  are below  /

                Pavilion  ->  \  girdle /

                                \     /

                                  \ /

                Bottom tip is    Culet


                Depth and Diameter of Diamond.


                    Table    <-- Table -->

                     /|\    /=============\

                   D  |   /                 \

                   E  |  |<<---DIAMETER---->>|

                   P  |   \                 /

                   T  |     \             /

                   H  |       \         /

                      |         \     /

                     \|/          \ /

                    Culet        Culet

Diamonds are cut and polished to maximize the brilliance and sparkle of the stone. If a diamond is cut poorly, the stone loses brilliance and sparkle.

The diamond should conform to certain proportions to reflect the most brilliance. To retain carat weight, some diamonds are cut too deep or too shallow allowing light to leak out the sides or bottoms of the stone reducing the brilliance and amount of sparkling.

A very large table indicates that the stone may have a poor cut. While the table size may be a matter of taste, there is a consensus in the diamond industry that very large tables are not good.

A test for good proportions in a round brilliant cut diamond is to hold the loose diamond in tweezers against a bright light. Look at the diamond with the flat table facet toward the light and the pointed culet side toward your eye. If the diamond is well cut, you should not see any light leakage through the bottom of the diamond except right at the culet.

Clarity

The best clarity for a diamond is said to be flawless. Recalling our definition of a diamond, we are looking for a stone that is free from flaws. These flaws include spots, bubbles, and lines within the diamond. These imperfections are natural, but lower the value of the diamond.

Diamond clarity is measured on the following G.I.A. scale:

Fl VVS1 VVS2 VS1 VS2 SI1 SI2 I1 I2 I3
| | | | |
| very,very very small imperfect
flawless small small inclusions
inclusions inclusions

The best way the see the imperfections is to look at the diamond through a gemscope. This device resembles a microscope with an eyepiece for each eye. Most jewelers with better quality stones will have a gemscope in the store for you to use.

If the jeweler does not have a gemscope, he will certainly have a small magnifier called a loupe available for you to use. The loupe magnifies the image ten times larger. Hold the loupe up to your eye and hold the diamond about 3/4 inch in front of the loupe lens. Adjust the distance very slightly to bring the stone into focus. Look at the diamond from all angles: top, bottom, and sides.

It takes a good deal of training to judge the quality of diamonds, but here are some rough guidelines for use by novices. If you can see flaws in the stone with your naked eye, the clarity grade is imperfect (I). If you can not see flaws with your naked eye, but can easily see flaws using a 10-power loupe, the clarity is small inclusions (SI). If you can see very tiny flaws in the stone using the loupe, the clarity grade is probably very small inclusions (VS). If you can not see flaws using the loupe, the clarity grade is probably very, very small inclusions (VVS). Although you may not see any flaws in a VVS diamond, an expert with a trained eye can pick them out after several minutes of examination with the loupe. Flawless diamonds are those diamonds in which even the experts can not see flaws using a loupe. Flawless diamonds are very rare, so you will probably not see a flawless diamond at a jeweler unless you request that it be specially ordered for you. Flawless diamonds should be used for investment purposes, not for jewelry.

I personally prefer clarity grades better than imperfect because the flaws of imperfect diamonds are visible to the naked eye. However, I would not recommend clarity grades better than VS1 since you can not see the difference. For jewelry purposes, paying for better clarity you can not see is not worth the extra expense. I would rather spend the money for better color, which is a quality you can see.

Carat Weight

The size of a diamond is determined by weight measured in carats. One carat is the same as 200 milligrams (about 2/3 of a regular strength aspirin tablet). Sometimes the weight is measured in points. One carat is divided into 100 points, so a 50-point diamond weighs 0.50 carats.

If the diamond is loose, the weight can be easily determined with a scale. Make sure the scale used has an inspection seal from the state's weights and measures agency that certifies the scale's accuracy. If the diamond is mounted, you will have to rely on the weight listed on the sales tag. Since weight is the easiest quality to check, there is a good chance the listed weight is accurate and honest.

Be careful if the weights are listed as fractions (i.e. 1/4, 1/2, 3/4, or 1 carat). Industry practice allows a range of weights to be designated by a carat weight listed as a fraction. For example, 75 points is exactly 3/4 carat, but a jeweler can call a 70-point diamond 3/4 carat if he wanted to. To be sure, always have the jeweler tell you the weight to the nearest point.

Diamond Buying Secrets