How to Shop for a Diamond

Diamond rings are priceless in terms of sentimental value--but affairs of the heart aside, the key to a diamond's commercial value is its rarity. A smaller stone can be worth more than a larger one provided it has more rarity factors--greater clarity and brilliance and fewer inclusions or internal flaws. Here's how to find the brilliant best.

Difficulty:

Easy

Instructions

1. Determine what you want or can afford to spend.

2. Establish a relationship with a jeweler who has expert gemological knowledge. While their qualifications are worth noting, of far more importance is the feeling you get when you're in the shop. If you don't feel good about what you're looking at or who you're dealing with, leave.

3. Become fluent in the four Cs of the international language of diamonds: carat weight, color, clarity and cut.

4. Diamond weights, not sizes, are measured in metric carats. A single carat weighs about as much as a small paper clip. Carats are divided into fractions or decimal points. Jewelers should disclose precise amounts and ranges.

5. Letters represent diamond colors with D (colorless, very rare and most desirable) to Z (light yellow or brown and less desirable). Grades vary, so ask your jeweler. It's also a matter of taste. Winter-white diamonds look best with platinum, warmer shades with golds.

6. Clarity grades measure birthmarks--internal flaws are called inclusions, external ones blemishes. Grades include FL for flawless, VS1 for very slightly included, and I3 for included.

7. Seek out a cut that maximizes brilliance, fire and sparkle.

8. Ask for an independent grading report--your diamond's detailed genealogy. Don't buy a costly stone without one, since it's your guarantee that you're getting what you've paid for.

9. Take a valuable diamond to an independent appraiser. If necessary, buy it first, but only with a written, unconditional moneyback guarantee allowing you a few days to have it appraised.

Tips & Warnings

• Your jeweler can have a unique report number laser-inscribed on your diamond's outer edge. If you ever have it resized or professionally cleaned, you can make sure you're getting your own diamond back. Grading reports and identification numbers also serve insurance purposes.

• Ask your jeweler for a free copy of the industry's helpful diamond-buying booklet, or contact the Gemological Institute of America (see Resources).

• Don't think of the diamonds in engagement rings as an investment. You're already paying a markup of 100 percent or more when you buy retail.