How to Purchase Colored Diamonds

Buying colored diamonds can be a fairytale experience. But you don't want your fairytale to turn into a nightmare by going in uninformed or being taken advantage of by unscrupulous dealers. Use the guidelines below when buying your colored diamond to help turn your fairytale into a reality.

Instructions

Difficulty: Moderate

1. Know going in what color diamond you are looking for. And since there is a wide range of shades in each different color, have an idea of how much you are willing to compromise in terms of color. More vibrant colors will prove much more costly.
2. Choose a cut that accentuates the color of the diamond. Some cuts do a better job than others of bringing out the color and subtle nuances of a colored diamond. You also want to make sure that it is ideally faceted.
3. Opt for color over clarity when choosing a colored diamond. A brilliantly colored stone with a few inclusions is more valuable than a pale counterpart with perfect clarity.
4. Pick a setting that will show off your new diamond. Also, choose a setting color (such as yellow, white, rose gold or platinum) that will accentuate the diamond's color.
5. Decide whether you are willing to buy a treated diamond. Know going in that these will look nice but that they often won't resemble the natural thing. Treatment may also devalue the stone.
6. Compare like-colored stones when trying to determine a fair price. All things being equal, pinks will cost more than yellows and blues will cost more than pinks. You must compare 2 diamonds of the same color family to get a realistic idea of pricing.
7. Use the same guidelines that you would implement for buying a regular diamond. These include using the 4 Cs as a guide and making sure you obtain a report on the diamond from the Gemological Institute of America or other national laboratory. See the eHow article "How to Shop for a Diamond."

Tips & Warnings

• Pricing for colored diamonds is based on several factors, including the color itself, the saturation and purity of color, and the rarity of the stone. Because so many factors are involved in the pricing, comparing individual stones may be difficult to do.
• As with all your jewelry purchases, buy your colored diamond from a reputable jeweler. This will help ensure that you are getting what you pay for.
• Expect to pay more for a natural-colored diamond than for a white one.