How to Buy a Large Diamond
Diamonds are not sold on size but on weight. Different shapes of diamonds, such as heart, square or princess, can make a diamond look smaller or bigger. How the diamond is cut changes its apparent size as well. A half carat diamond with a broad cut looks bigger than a half carat diamond that is properly cut. Buying a diamond is a challenging task to make sure you get your money's worth. Buy from a reputable dealer in diamonds.
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Things You'll Need
- Tweezers
- White cloth or paper
- Jeweler's loupe
- Independent diamond grading report
Instructions
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Develop a budget. If you only have $5,000, you can buy a large diamond, one carat or so, but it won't be of good quality. You might be better off buying a ring that has smaller diamonds of better quality clustered together to look like a large diamond.
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Learn the four C's: color, clarity, cut and carat. With the exception of fancies -- diamonds that come in red, blue, green violet and spectrum yellow -- the closer to colorless, the more valuable the diamond. Diamonds inherently have flaws, cracks and bits of carbon. This is a measure of the diamond's clarity. Diamonds that have no visible flaws or imperfections under 10x magnification are more valuable than those that do. The more imperfections, the less the diamond is worth. Cut is the quality of the diamond cutter's skill when cutting the diamond, not the shape. Carat is the weight of the diamond.
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Look at the diamond removed from its setting. Examine the diamond against a white background, not black. Place it face down. The true color and if it has any tendency toward yellow is apparent against a white background. The more the color varies from pure white the less valuable it is.
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Ask the diamond dealer, or jeweler, for the diamond's grading report from the Gemological Institute of America or European Gemological Laboratory. Gem-quality diamonds more than 1 carat should have that report; otherwise request the dealer to obtain one. This is the "report card" on the diamond from an independent gemological laboratory. Match a few of the flaws in the diamond on the report with what you see in the diamond itself. That way you'll know you're looking at the correct report. The cut of the diamond will be graded and you'll know the carat weight as well.
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Trade off the factors that are important to you for those that aren't. Each valuation factor --cut, clarity, carat and color-- is independent of the other, but they all affect a large diamond's value. A diamond that is clear but has visible flaws may be less valuable than a diamond of the same size that has a very slightly yellow tone but is flawless. Sometimes a flaw can be hidden by the setting of a diamond, for example. You may prefer a larger diamond that has a minor flaw to a smaller diamond that is flawless.
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Know your math. Diamonds increase in value exponentially. In other words, a one carat diamond of the same quality as a two carat diamond won't cost half as much. It will cost perhaps one fifth as much. Another way to look at it is if the one carat diamond cost $10,000, a two carat diamond of the same quality will cost $50,000.
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Tips & Warnings
Take the diamond to a window and observe it under natural light. Jewelry stores often use lights that offset the yellow and make yellow diamonds look whiter.
A dealer can misrepresent a diamond in many ways, from selling a diamond by rounding up its weight for more per carat than it should be to infilling diamonds to hide carbon flecks. Know your diamonds. If you get a feeling you're getting ripped off, listen to your gut feeling. Ask for any guarantees and appraisals in writing. If you leave a deposit for a diamond while you get it independently appraised, make sure you get the cash back, not just credit on another diamond.
References
Resources
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