How to Buy a Diamond

Choosing a diamond involves more than a casual trip to the jewelry store. Armed with the proper knowledge, you can make an informed decision and a wise investment.

Difficulty:

Easy

Instructions

Things You'll Need

• Diamond rings
• Diamond earrings
• Diamond necklaces

1. Decide how much you can spend. If you are buying an engagement ring, the general rule is two months' salary, but the sky's the limit if you're in pursuit of the perfect stone.

2. Choose the shape of diamond you prefer. Although the round--or brilliant--cut is most popular, diamonds come in many cuts, including oval, square or even heart-shaped.

3. Inspect the diamond's clarity (the degree of transparency). A "flawless" diamond, free from all inclusions or blemishes, is very rare. Other diamonds are rated on a clarity scale that grades diamonds from "flawless" to "obvious inclusions." The higher the diamond's rating on this scale, the greater its value.

4. Examine the diamond's color. Although you may not generally think of diamonds as having color, some have a yellow, gray or brown cast. Pure, colorless diamonds are at the top of the color scale. Diamonds are also available in "fancy" colors such as red, blue or purple. These diamonds are rare and more expensive than the normal clear to yellow variety.

5. Examine the diamond's cut, which is crucial to the brilliance of the stone and a major factor in its value. A well-cut diamond reflects and disperses light in beautiful ways, thanks to qualities such as symmetry and depth (the bottom of the diamond shouldn't be too shallow or too deep). Diamonds are graded according to the cut quality, and this grade should carry a great deal of weight in your decision.

6. Determine the weight, which is measured in carats. The greater the carat weight, the more valuable the diamond. Keep in mind that since larger stones are more rare, two 1/2-carat diamonds are less expensive than a single 1-carat diamond.

7. Compare several diamonds side by side and get a good idea of what you can find in your price range. No two diamonds are alike, so examine all of them carefully for their unique qualities.

8. Make your final decision based on which diamond offers the best combination of the four C's: clarity, color, cut and carat. Ignore any of these attributes, and you jeopardize your chances of getting the best diamond for your money.

Tips & Warnings

• Inquire about a certificate from the Gemological Institute of America (GIA). The GIA, the largest impartial diamond-grading authority in the world, issues a grading report and details the diamond's specifications after examining it. Many stores keep the certificate on hand.

• A nicked and scratched stone is almost certainly fake, but only a jeweler can detect some fakes.

• Have a questionable stone professionally appraised.

• Buy from a jeweler who will guide you through the process. A good jeweler will help you assess how much you can spend, show you a wide selection of diamonds, and explain the four C's.

• Buying a loose diamond gives you the option of designing a setting around the stone. If you buy a ring band, opt for platinum or white gold: Metals other than yellow or rose gold enhance the brilliance of the diamond due to their color.

• Don't try to get the largest possible diamond for your money. This can mean overlooking quality in favor of size and ending up with an inferior stone. Balancing all factors is the best approach to choosing a quality diamond.