You’ve been told that having a certificate or a
diamond grading report is important, and as a responsible consumer, you get one – unfortunately, you probably won’t understand a word of what is on that diamond grading report, unless you are a jeweler.
On the color grading scale, D, E, and F mean that the diamond has no color. G, H, and I means that it has very little color. J, K, and L means that the diamond has a slight yellow color. P, Q, R, S, T, U, V, W, and X means that the diamond is a darker shade of yellow. Z means that the diamond has a fancy color – other than white or yellow.
On the color grading scale, D is the most valuable, and X is the least valuable – however diamonds that get a Z rating are the rarest and most expensive diamonds in the world.
There are many aspects to a grading report. Figuring it all out can be very confusing. You should talk to a jeweler you trust, and have them explain everything on the
diamond grading report to you.
A diamond certificate is also known as a Diamond Grading Report. This report comes from the Gemological Institute of America (GIA), and you should require this report when you are purchasing a diamond.
With a diamond certificate, you can verify the color, cut, carat, weight, and clarity of the diamond. You don’t have to worry about a diamond dealer telling you anything less than the truth, because the certificate comes from the GIA – not the dealer. You may be required to pay for the certificate, but the cost is usually low, and in many cases, it will help you negotiate a better price on the diamond – or keep you from purchasing a lower quality diamond altogether.
If you buy a high quality diamond, and then later decide to sell the diamond, you will need to have the certificate, or you will have a hard time selling it to someone else. Furthermore, you can use the Diamond Grading Report to look up the wholesale value of the diamond in question. Use the guide that is used by the diamond cutting industry.
With the Certificate, or Diamond Grading Report, there won’t be any doubts when you are trying to purchase a diamond. You can easily find out what the diamond is worth. This will prevent you from overpaying, and it can prevent a seller from under-charging as well.
A copy of the Diamond Grading Report should be given to your insurance company as well, when you insure the diamond. This provides absolute, unquestionable proof of the value of the diamond should it be stolen in the future. Insurance companies cannot argue with the report.
Avoid diamond dealers who seem reluctant to provide a certificate! Also avoid sellers who tell you that a certificate diamond will cost you more – the only additional cost should be the cost of the certificate, which is low. If the dealer doesn’t want to provide a certificate, then you don’t want to do business with that dealer.
Don’t accept certificates from Gemological Laboratories other than GIA. There are many fly-by-night Gemological labs these days, but in the end, GIA has been established as the most respectable and trustworthy – not to mention oldest – of the lot. So avoid dealers who don’t want to use GIA for certification purposes as well.
Don’t buy an expensive diamond without paying the extra cost of the certificate. If a dealer tries to convince you to make the purchase without the certificate, or if they want to use a company other than GIA, you can be sure that the dealer has probably greatly inflated the price of the diamond – they have something that they are hiding from you.
Diamonds are one of the few products that simply cannot be ‘branded.’ Even though there are different cuts, different grades, and different values placed on each and every diamond in existence, no diamond is any specific brand – just as gold is not a specific brand.
Branding is actually based on who owns the diamond. For instance, if DeBeers owns the diamond, it is a DeBeers Diamond – but it is still just a diamond. If the diamond was cut by a specific well known cutter, then it might be branded in that way as well – but it usually isn’t. It is still branded based on who owns it at the time. So basically, when it comes down to it – diamond brands mean absolutely nothing at all.
Do not allow a jeweler to try to talk you into paying an exorbitant price on a diamond because it is a specific brand. This is a bit of trickery used by unscrupulous jewelers when they know that they are dealing with people who don’t know much about diamonds. Remember that diamonds are not actually branded – unless mother nature has her own brand!
There are many different cuts of diamonds to choose from. The cut essentially refers to the shape that the diamond is cut into – unless you are in the diamond or jewelry business, but this shape has a great impact on the much the diamond sparkles.
The most popular cuts are heart, marquise, oval, pear, princess, round, trillion, and emerald cuts. The shape has an impact on how much the diamond sparkles, but the actual cutting itself – when the diamond cutter actually cuts the diamond into a particular shape – also matters a great
deal. If the diamond is poorly cut, it will lose its sparkle.
However, in the diamond industry, the cut of a diamond doesn’t refer to its shape at all. Instead, this is a reference to the stone’s depth, width, brilliance, durability, clarity, and other aspects of the diamond. Common cutting problems include a missing or off center culet, misalignment, a diamond that is too thick or too thin, cracks, or broken culets.
When shopping for a diamond, you should of course choose the shape that you like the best, but then look at several different diamonds of that shape to find the one with the best cut – the one that sparkles the most, in all types of lighting.
Before you start shopping for diamonds, consider dealing with a bonded jeweler. Bonded jewelers sell bonded diamonds, and there are very few bonded jewelers in the world. In fact, out of all of the jeweler’s in the world, only about 5% of them are bonded. Buying a bonded diamond will cost more than buying a non-bonded diamond, but when you look at what you get with the bonded option, you will see that it is well worth the extra expense.
First, bonded diamonds have a buy back policy for the life of the diamond. No matter how long you have had the diamond, you can take it back to the bonded jeweler and sell it back to him or her, for a 100% refund. If a jeweler does not offer a 100% buy back guarantee, for the life of the diamond, then you should take a closer look at the diamond to see what is wrong with it.
Bonded diamonds also have a breakage policy. If the stone breaks or chips, the bonded jeweler will replace it with a new one – one time. No jeweler would ever offer such a policy on any stone that was not 100% natural, so just the offer of such a policy should give you piece of mind concerning the quality of the diamond. Bonded diamonds are natural and untreated.
Bonded diamonds increase in value, with a fixed appreciation rate that is designed to keep up with inflation. This means that a diamond that is worth a certain amount of money today will be worth more in the future, as the price of diamonds continues to rise. This generally does not apply to buy backs, however. It typically applies to trade-ins.
Alternately, by purchasing a bonded diamond, you are protected against the possibility of a market crash. If a market crash occurs, the value of diamonds will drop. However, the bonded jeweler guarantees to refund you the difference between what the diamond is now worth and what you paid for it before the market crash.
It may be difficult to find a bonded jeweler in your area, but if you can, this is who you want to deal with, as opposed to dealing with an un-bonded jeweler. Specifically tell the jeweler that you are only interested in bonded diamonds. You can find a bonded jeweler in your area by using various online resources, or by calling the local jewelry stores.
When you walk into a jewelry store and see all the diamonds in all of the various settings that are for sale, it is difficult to realize that diamonds are indeed rare. Most people don’t even stop to consider how that diamond came to be sitting in that jeweler’s case! There is quite a bit of work that is done before a diamond is ready to sell to the general public!
For every one million diamonds that are mined, only one will be found that is a quality one caret diamond. In order to find a two caret diamond, about five million diamonds must be mined. More than two hundred tons of ore must be mined to find one small diamond, and even then, more than 80% of the diamonds that are mined are only good for industrial use, such as diamond drill bits.
So, the next time you visit your local jewelry store, ask to see the one carat diamonds. You should look at this diamond with new appreciation – knowing that it truly is one in a million!
Clarity is an important aspect of a
diamond, and it is important to know how to grade the of a diamond before you
buy one. It is actually quite easy to learn how to grade
the clarity of a diamond. There are basically two things that you must understand:
Diamonds with visual inclusions and blemishes, and those that are ‘eye clean’ meaning that there are no inclusions or blemishes that can be seen with the naked eye. From there, the clarity of a diamond is further broken down into subcategories.
Many people mistakenly think that diamond clarity refers to how clear it is. This isn’t so. Clarity actually refers to the internal and external imperfections of the diamond.
The best diamonds, of course get a grade of FL or IF – Flawless or Internally Flawless – meaning that it is perfect. A grade of I-1, I-2 or I-3 means that the diamond is imperfect, with a grade of I-3 being the worst.
Other grades are VVS1 and VVS2, which means that the diamond is very, very slightly imperfect; VS1 and VS2, meaning the diamond is very slightly imperfect; SI-1 and SI-2, which means that the diamond is slightly imperfect.
Diamonds are measured in Carat Weight. One carat weights 200 milligrams. If a diamond is referred to as four grains, this also means that it is a one carat diamond. The word Carat comes from the word carob. A carob is a bean that grows on a tree in the Mediterranean. In times past, if a diamond weighed the same as a carob bean, it was one carob, or one carat.
However, in the far east, where Carob trees do not grow, rice was used to measure the weight of a diamond. If a diamond weighed as much as four grains of rice, it was four grains – or one carat as we know it to be now. The majority of diamond purchases are for diamonds that are 1/3 of a carat.
Beware when shopping for diamonds that are already set or mounted. If more than one diamond is used in the piece, the tag on the jewelry will give the CTW or Carat Total Weight – it does not tell you the carat weight of each stone in the piece. You need to ask the jeweler for the total carat weight of the largest diamond in the piece to truly understand what you are buying.
With all of the potential for scams concerning diamonds, buying diamonds online almost seems unthinkable! However, you actually can purchase diamonds online, without any problems – as long as you are careful.
First, think about your reasons for wanting to purchase the diamond online, as opposed to making a purchase from a local jewelry store. The most common reason is price. Due to low overhead costs, online jewelers and wholesalers are able to offer lower prices. However, you must be careful – sometimes a price that is too low is a sure indication of a scam.
One of the best things about purchasing online is the unlimited selection. When shopping offline, you are limited to the selection in the stores in your general area. Online, there are no limits. But again, you must use a great deal of care and consideration before handing your money over to someone that you cannot see and have never met!
Before shopping, learn as much as you can about diamonds – especially cut, color, clarity and carat weights. When you are knowledgeable about diamonds, it will be harder for a con artist to rip you off. Once you know more about diamonds, you will be ready to start shopping.
Take your time. Don’t purchase the first diamond that you see that interests you. Instead, look for similar diamonds for sale. Do some comparison shopping to find the lowest prices. Once you have found the lowest price, start doing your investigation. You know about diamonds, you’ve found a diamond that you love, and you’ve found the lowest price – but you are still quite a ways
away from actually purchasing that diamond!
Ask about the seller’s credentials, such as professional jewelry associations that they belong to. View and print the seller’s return, refund, and upgrade policies. Also inquire about additional services, such as settings and mountings, sizing, and free shipping. Do a search for customer reviews on this particular company around the Internet. Also check with the BBB Online to see if there have been any complaints.
Ask for a diamond grading report from an independent laboratory such as GIA, HRD, EGL or AGS. You should see this before making a purchase. Finally, use a reputable escrow service for high dollar diamonds – preferably one that will have the diamond appraised while it is in their possession. The seller sends the diamond to the escrow service, and you send the money to pay for the diamond to the escrow service. The escrow service has the diamond appraised, sends the diamond to you, and sends the money to the seller. This is the surest way to protect yourself…again, make sure that you use a reputable escrow service!
