How to Buy a Diamond

How to Buy a Diamond!

There are certain things you need to know in order to purchase a diamond. By following these steps you would be ensured that you have gone through the correct process of buying a diamond at a market related price and you would know that what you bought is what you wanted. You will also know the technical qualities of your diamond, therefore you would have a deeper understanding of your investment.
The Most Important Factors: The Four C’s (and more):

  1. Carat: The size of the diamond, indicated by numerical points, e.g.: 0,2700, 3,500.
  2. Colour: Normally defined by a certain letter of the alphabet, for example; E, F, H,F, G, I, and J.
  3. Clarity: Indicated by a combination of letters of the alphabet and numericals, eg. SII, VSI, VVS1, VVS2, etc.
  4. Cut: Size is not always important. Sometimes smaller diamonds with a superior cut is better value for money than a bigger diamond.

At this stage you need to determine which of the above points are most important to you. The next very vital step to determine is the Fifth C:

Now that you know that size is not the only factor on which the price of a diamond is based, you can go to a Jewellery Store and get the price for the type of Diamond you are looking for. Keep all of the above C’s in mind all the time. Make any adjustments necessary to your initial requirements. Remember that minor differences in the C’s can make a big difference when comparing prices.

Most importantly, do not compare the price of a certified Diamond with the price of a diamond which is not certified, or is only certified by an lesser known Laboratory.

Ask for a certificate. There are several Independent Laboratories out there For example, EGL, the European Gemological Laboratory.
The Rapaport Diamond Report (Rap Sheet). There is a standard report of Diamond Prices known as the Rap Sheet. This officially lists high wholesale diamond prices in the NY market. The reality is that usually wholesalers speak to each other about prices in terms of the percentage discount to the Rap Sheet. How much of a discount to Rap? It really depends on the quality of Diamond you are looking for. On the wholesale market, Diamonds of some qualities are sold at a deeper discount to Rap than other qualities.
There are market fluctuations which change according to supply and demand. The best way to know prices for the specific Diamond you are looking for is to shop around for a Certified Diamond of a quality range you desire, within your budget.
Is it safe to buy a Diamond on the Internet? Good question. Sometimes yes, sometimes no. If you make sure you know who you’re dealing with, it can be. Just because you found a good supplier on the Internet, it doesn’t mean you can’t make an effort to visit them in person. Of course sometimes distances make it impractical. In those cases you have to judge for yourself if it’s safe to do business with them. If you do decide to take the risk, make sure that you only buy a certified stone, and make sure they offer a guarantee that if you don’t like the stone after viewing it, that you can return it. By the way, buying a Diamond “off” the Internet is not necessarily safe either.
We hope this information helps you through your purchase. This is one of the wonderful aspects of the Internet. By being part of the Internet community we can all help each other out!