Learn How To Buy A Diamond: Step-by-Step Buying Guide

Embark on our comprehensive diamond buying guide and discover the art of selecting the perfect diamond under ideal circumstances!

Choosing a diamond may appear deceptively simple, but rest assured, it requires careful consideration. Whether you’re purchasing for yourself or a loved one, the process of selecting a diamond or diamond jewelry is anything but effortless.

But fear not, as we’re here to assist you every step of the way!

In the following sections, we will provide you with all the essential knowledge needed to choose the ideal diamond for any occasion. From size, shape, cut, and color to various other vital factors, we will cover everything necessary for your diamond selection journey.

Without any delay, let’s delve into the intricacies and explore the key aspects to consider when purchasing a diamond.

Diamond Price Chart

Shape	Top Quality D/E, FL/IF	Our Recommendation G/H, VS2/SI	The Lower End I/J SI1/SI2
Round	$23,200	$7,710	$6,100
Princess	$15,200	$6,280	$5,000
Cushion	$15,790	$5,870	$3,730
Emerald	$16,050	$7,760	$5,140
Oval	$18,950	$7,390	$5,760
Pear	$17,800	$7,580	$5,710
Marquise	$21,320	$9,210	$5,150
Radiant	$20,100	$7,020	$4,100
Asscher	$19,610	$7,720	$4,360

1. Set Up Your Price Range

Many people tend to underestimate the significance of establishing a budget when it comes to diamond shopping. However, it is a crucial aspect that should never be overlooked.

We are not suggesting that you rigidly fixate on a specific number and adhere to it without any flexibility. Rather, we encourage you to set up a reasonable price range.

When purchasing a diamond or any valuable item, having a flexible price range is essential.

You might be wondering, how can this be accomplished? Rest assured, it’s not as complicated as it may seem. Let’s explore a plan that can assist you in establishing a suitable price range for your diamond shopping journey:

1st Step – Decide Upon The Max Price

The most crucial aspect of formulating a plan for diamond shopping is determining your maximum budget. It is imperative to have a clear understanding of the amount you are willing to spend, as it will prevent you from being swayed by options that exceed your financial capabilities.

We want to ensure that you make a well-informed decision and avoid falling in love with a diamond that is beyond your means.

To prevent such a situation, it is essential to establish a maximum price that you have in mind. This will help guide your choices and keep you within your desired budget.

2nd Step – Set The Lowest Bar

Equally important to establishing the maximum price you’re willing to pay for a diamond is determining the minimum threshold you’re willing to accept.

If you already have specific criteria in mind, such as the desired cut and carat weight, but are unsure about the clarity grade, it is crucial to set a lower limit. This ensures that you do not end up with a diamond of lower quality than your expectations.

By setting a minimum standard, you can avoid compromising on the quality of the diamond just to save a few dollars. It is essential to establish a baseline that aligns with your standards, allowing you to make a purchase that meets your desired criteria.

3rd Step – Don’t Be Afraid To Negotiate

Engaging in price negotiation may not be your initial instinct when shopping for diamonds, and that is understandable given their inherent value. However, it’s worth considering whether there is any room for flexibility. What if you could secure a slightly lower price for the diamond, allowing you to allocate more funds towards other aspects of the jewelry?

That’s why it’s always worth attempting to negotiate the price, while maintaining a respectful approach towards the seller. Prior to embarking on your diamond shopping journey, it’s crucial to conduct thorough research and establish a well-defined price range. Without a clear budget in mind, you may find yourself aimlessly searching and possibly returning home without making a purchase.

Therefore, be proactive in setting both the maximum amount you are willing to spend and the minimum range you have in mind for a diamond. This approach will enable you to navigate the market more effectively and make informed decisions during the negotiation process.

Diamond Certificates

Obtaining a certificate is an essential aspect of purchasing a diamond, and its significance should not be underestimated. Unfortunately, not everyone is aware of this, which is why we emphasize the importance of possessing a valid certificate.

Diamond certificates are intricate documents, and not all certificates carry the same level of credibility. While numerous institutions issue diamond certificates, there are a select few that hold the most weight in the industry. It is crucial to prioritize certificates from reputable institutions, and here are five widely recognized and trusted ones:

1. Gemological Institute of America (GIA)
2. American Gem Society (AGS)
3. International Gemological Institute (IGI)
4. European Gemological Laboratory (EGL)
5. Hoge Raad voor Diamant (HRD)

Although there are a few other certifying bodies that guarantee a diamond’s value and authenticity, these five institutions are globally renowned and universally acknowledged as leading gemological authorities.

When purchasing diamonds, especially from third-party sources or diamond dealers, it is highly advisable to request a diamond certificate. While it doesn’t necessarily have to be one of the aforementioned five certificates, even a simple certificate from the manufacturer can provide essential information.

The details contained within a certificate may vary depending on the issuing institution, but all certificates generally include crucial information about the diamond’s physical characteristics, such as:

• Weight (carat)
• Diameter
• Cut quality
• Clarity grade
• Color grade
• Potential damage or enhancements

These pieces of information are fundamental in determining the value of a diamond, underscoring the necessity of having a certificate when purchasing such a precious gem.

If you are considering buying a diamond, especially outside of a reputable jewelry store, it is imperative to insist on inspecting a valid certificate. Engaging in a transaction without a certificate poses a considerable risk, as unscrupulous individuals may attempt to sell illegal or counterfeit diamonds under false pretenses.

Protect yourself by prioritizing certified diamonds and ensuring that you receive the corresponding certificate for inspection. By doing so, you can confidently navigate the diamond market and make informed decisions while safeguarding your investment.

Buy Online Or In Person

In today’s digital era, it has become increasingly common to make online purchases, ranging from everyday items to brand-new cars, often without even seeing them in person. But when it comes to buying diamonds, should you opt for an online purchase or choose to buy in person?

The answer to this question depends on several factors that must be taken into consideration, such as the credibility of the website, the availability of diamond certification, the country of origin, and more.

As with any diamond-related decision, it is essential to exercise caution and consider all relevant factors before proceeding. Let’s explore what you should pay attention to when buying diamonds online.

On a global scale, online purchases tend to outnumber in-person purchases, not only for diamonds but for various other products as well. Some websites have earned a reputation for being reliable platforms for purchasing diamonds online. Examples of such websites include:

• James Allen
• Blue Nile
• 77 Diamonds
• Brilliance

These four stores are widely recognized online diamond dealers known for selling authentic diamonds, offering a sense of security and minimizing the risk of scams. It’s worth noting that there are numerous other legitimate online diamond stores, but the list is extensive.

One of the advantages of buying diamonds online is the opportunity to view diamonds in 3D and make an informed choice even without having the physical diamonds in front of you. However, it is important to acknowledge the downsides of online purchases. When buying online, you cannot physically see or examine the diamond, nor can you conduct tests on it.

While reputable dealers or websites provide accurate descriptions and certifications, some people still prefer the traditional approach of shopping for diamonds in person. The ability to hold and examine a diamond firsthand, coupled with the flexibility to make decisions later, can enhance the overall experience and satisfaction.

Although it is possible to buy diamonds online and be perfectly content with the purchase, there have been instances where buyers were disappointed with the product they received through mail. Another aspect to consider is the possibility of the diamond getting damaged during shipping, despite the secure packaging provided by online sellers.

In conclusion, whether you choose to buy diamonds online or in person, it is crucial not to make impulsive decisions. Take your time, thoroughly explore your options, and carefully consider what suits your preferences and needs.

Loose Diamond Or Mounted Diamond

Now, let’s discuss the difference between loose diamonds and mounted diamonds or diamond jewelry. Buying loose diamonds is not the same as purchasing diamonds that are already set in some form.

First, let’s clarify the term “mounted diamonds.” Mounted diamonds are diamonds that have been permanently placed within a setting, but they are not the complete jewelry piece themselves. These settings are then incorporated into the overall jewelry design. It’s important to understand that mounted diamonds are distinct from loose diamonds or diamonds in jewelry.

Our recommendation is to buy loose diamonds. Even the websites mentioned earlier predominantly sell loose diamonds, which means diamonds without any surrounding elements. They are sold as standalone diamonds, already cut, polished, and ready for sale, without any additional precious metals or settings.

In general, we suggest buying loose diamonds because purchasing mounted or embedded diamonds, as well as diamonds already in jewelry pieces, can be quite complex and often requires in-person presence due to the intricacies involved.

Another reason to opt for loose diamonds is their versatility. They can be re-set and used in various jewelry pieces according to your preferences and needs. Additionally, if your intention is not to have the diamond embedded, loose diamonds tend to be more visually appealing to display than mounted diamonds.

Loose diamonds are also easier to sell, and you can insure them at a lower cost compared to mounted or embedded diamonds.

However, if you are specifically seeking a diamond to serve as the centerpiece for an important piece of jewelry like a wedding ring or milestone necklace, we highly recommend purchasing mounted diamonds instead of loose ones. If you have already decided on the specific setting you desire, there is no harm in acquiring a mounted diamond. It can save you money and require less effort to attach to your chosen jewelry piece.

Diamond Cut

Now, let’s dive into the basics. When you’re buying a diamond, you have to know what you want. There are some characteristics of a diamond that you have to be introduced to in order to buy a diamond.

The first is cut. Diamond cutting is an old profession, and it has been around forever. But, it resulted in many different cutting methods that produced different diamond shapes.

Some like the more oval ones, and some like the square and rectangular ones better. It’s important that you know what you like before you go diamond shopping.

Because of that, if you keep reading, you’ll find all the basic pieces of information that will teach you about diamond cuts, so you can decide upon the best cut for yourself.

First of all, there are a few “subcategories” of diamond cuts, and those are:

1. Round Cuts
2. Square Cuts
3. Custom-shaped Cuts

These aren’t the official names of these cut categories, but it makes it easier to remember.

The most popular round cuts are:

1. Round Brilliant Cut
2. Oval Shape Cut
3. Marquise Cut
4. Cushion Cut

The most popular square cuts are:

1. Princess Cut
2. Emerald Cut
3. Asscher Cut
4. Radiant Cut

The most popular “custom-shaped” cuts are:

1. Pear Cut
2. Heart-shaped Cut
3. Trilliant Cut
4. Lily Cut

Depending on what you like and what you’re expecting from a diamond, you should pick one of these categories and stick to it.

Generally speaking, the most popular diamond cuts currently are the round cuts, or to be more precise – the round brilliant cut.

If you’re looking to buy a diamond that’ll look trendy on someone’s ring finger, the previously named cut is definitely the popular option at the moment!

On the other hand, if you’re aiming for something more timeless, maybe you should consider the Emerald cut, the Asscher cut, or the Marquise cut.

These timeless classics will last for a lifetime, so if you’re worried that the current trends will die down, any of these three options will suit you perfectly.

But, if you’re aiming for something more original and unusual-looking, then any of the “custom-shaped” cuts will do just fine.

Not every day do you see a heart-shaped cut diamond on the street. The only thing worth mentioning is that all of these cuts, but most commonly the Trilliant (or the Trillion) cut have some problems with embedding and can easily fall out of a piece of jewelry.

Diamond Clarity

Now, let’s delve into the fundamentals. When purchasing a diamond, it’s essential to know what you want. Familiarizing yourself with certain characteristics of a diamond will guide your buying decision.

First and foremost is the diamond cut. Diamond cutting is an ancient craft that has evolved over time, resulting in various diamond shapes. Some people prefer oval-shaped diamonds, while others gravitate towards square or rectangular ones. It’s important to determine your preferences before embarking on your diamond shopping journey.

To assist you further, here are the basic categories of diamond cuts:

1. Round Cuts
2. Square Cuts
3. Custom-shaped Cuts

These are not the official names of the cut categories but serve as helpful labels for easier recall.

The most popular round cuts include:

• Round Brilliant Cut
• Oval Shape Cut
• Marquise Cut
• Cushion Cut

The most popular square cuts include:

• Princess Cut
• Emerald Cut
• Asscher Cut
• Radiant Cut

The most popular “custom-shaped” cuts include:

• Pear Cut
• Heart-shaped Cut
• Trilliant Cut
• Lily Cut

Based on your personal preferences and what you expect from a diamond, you should select one of these categories and stick to it.

Currently, round cuts, specifically the round brilliant cut, are widely popular for diamond rings. If you’re seeking a trendy diamond for a ring, this cut is a popular choice.

On the other hand, if you desire a more timeless option, consider the Emerald cut, Asscher cut, or Marquise cut. These classic cuts stand the test of time and will remain elegant for a lifetime. If you’re concerned about fleeting trends, any of these three options will suit you perfectly.

However, if you’re aiming for something more unique and unconventional, any of the “custom-shaped” cuts will be suitable. It’s not every day that you encounter a heart-shaped diamond on the street. It’s worth noting that some of these cuts, especially the Trilliant (or Trillion) cut, may pose challenges with embedding and could be prone to falling out of jewelry settings more easily.

By understanding these various diamond cuts, you’ll be better equipped to choose the perfect diamond that aligns with your preferences and style.

Diamond Color

As previously mentioned, diamond color is often an area where people consider saving money. While it’s important for a diamond to have a good color rating, it’s not necessarily a deal-breaker if it doesn’t.

However, the challenge with color grading lies in the fact that each gemological institution has its own modified system for grading diamond color. For the sake of discussion, let’s refer to the color grading list used by GIA.

Here’s an overview of GIA’s color grading scale:

• Colorless: D, E, F
• Near Colorless: G, H, I, J
• Faint: K, L, M
• Very Light: N, O, P, Q, R
• Light: S, T, U, V, W, X, Y, Z

These color grades provide precise information about how colorful or colorless a diamond is. It’s worth noting that colorless diamonds command higher prices and are highly sought after.

This color grading scale specifically applies to diamonds with yellowish hues. For example, a diamond graded as T would have a light yellow color, while Z-rated diamonds are considered yellow diamonds.

Colored diamonds have a separate grading scale, but remember that the lower the diamond’s rating on this scale, the more yellow it appears.

Many people opt for Faint (K) color-graded diamonds as they offer a good balance between color and price. For instance, a 3-carat Faint-graded diamond would cost around $23,000, which is reasonable for its size.

Most individuals prefer Faint-graded diamonds as they offer a favorable price-to-quality ratio. However, if you choose to go for very light or light-graded diamonds, there is a chance you may notice a yellowish hue. While this is not undesirable, the majority of people prefer colorless or near colorless diamonds.

We recommend considering diamonds with grades I, J, K, L, M, N, or O, as they offer the best value. By choosing within this range, you can save some money without compromising on overall quality and satisfaction.

Conclusion

Now that we have covered all the essential information in our diamond buying guide and provided you with valuable tips on choosing a diamond, let’s recap:

1. Determine your price range: Setting a clear budget is crucial and will save you time and frustration. Knowing both the upper and lower limits of what you’re willing to spend is important for a focused search.
2. Always insist on a diamond certificate: Never purchase diamonds without a valid certificate. You can easily find certified diamonds that offer peace of mind and ensure the authenticity and quality of your purchase.
3. Consider online diamond shopping: Online shopping for diamonds is a viable option, but remember to follow the advice we provided earlier. Stick to reputable websites and dealers, and take advantage of features such as 3D viewing to make an informed decision.
4. Choose between loose diamonds and mounted diamonds: Determine whether you prefer loose diamonds or diamonds already embedded in jewelry settings. Each option has its own advantages and considerations, so be clear about your preference.
5. Understand the characteristics within your price range: If your budget allows only for a certain price range, it’s important to be realistic about your expectations regarding color and clarity ratings. Familiarize yourself with these factors to make informed decisions.

Now, armed with this knowledge, you’re ready to embark on your diamond shopping journey.

Happy shopping!