How to Buy a Diamond
Our step-by-step guide on how to buy a diamond
Buying a diamond requires research and thought as it is a big and important decision. When shopping for a diamond, you will learn that there are many to choose from, however, once you understand their gemological characteristics, you will be well equipped to make the best decision for you and your partner. Over time, diamonds have become the most popular choice of gemstone for engagement rings due to their high-value and desirability. We’ve put together a step-by-step guide on how to purchase a diamond engagement ring to ensure the process is made easy and enjoyable.
The first step to buying a diamond is answering a few questions to help you understand your parameters so you can narrow your search.
What is your Budget?
It is important to determine a budget that you are comfortable with. We recommend that you don’t feel pressured to spend above and beyond this budget just to meet outdated cultural or societal norms. Once you’ve decided on an amount that works for you, your partner and your finances, stick to it. Spending beyond your comfort zone will add unnecessary stress to the process.
Choose the Type of Diamond
The next important aspect of buying a diamond engagement ring is to consider your partner’s preference for the diamond’s shape. If you are purchasing the diamond without her knowledge, we recommend obtaining insight on what she loves and would appreciate. The best way to find out more would be to ask her in an unsuspecting way or to consult her friends and family who she may have discussed the topic with.
What are her expectations about the Diamond?
It would be helpful to know her expectations of the diamond’s carat. If your partner is expecting a 2-carat diamond, it may end up that anything less than 2-carats will disappoint her. We recommend that while you’re gathering information about her preferences, try to decipher the finer details about her dream ring.
Once you’ve obtained all of the information you can, it’s a great time to learn more about the 4C’s of Diamonds.
The 4C’s are the gemological characteristics of diamonds, these determine their grading and their value as a gem. Understanding each will help you in the process of buying a diamond.
- Colour: naturally, diamonds come in an array of colours. An ideal, structurally perfect and pure diamond is one which is colourless. The less colour the gem has, the more valuable and desirable it is. The Gemological Institute of America(GIA) evaluates diamond colour in the following way.
| D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |
| Colorless | Near Colorless | Faint Yellow | Very Light Yellow | Light Yellow | ||||||||||||||||||
- Clarity: diamonds have naturally occurring imperfections or flaws which may exist in both its interior (inclusions) and exterior (blemishes). Clarity refers to the measure of these imperfections and flaws, both their size and number. Diamonds with smaller or less inclusions are rarer and therefore more valuable. Diamonds with no flaws exist, these are categorised as flawless and are therefore extremely rare. The following is a GIA clarity grading chart.
| Category | Flawless | Internally Flawless | Very Very Slightly Included | Very Slightly Included | Slightly Included | Included |
|---|---|---|---|---|---|---|
| Grade | FL | IF | VVS1 | VVS2 | VS1 | VS2 | SI1 | SI2 | I1| I2 | I3 |
- Cut: the cut is the most important characteristic in evaluating a diamond as it relates to itsreflective quality, and therefore has a significant influence on the price. The cut of a diamond should not be confused with its shape. Cut refers to the arrangement of the facets and its subsequent interaction with light. A better cut of diamond leads to more brilliance, sparkle and fire. The GIA evaluation of the cut is as follows.
- Carat: the carat refers to the weight of the diamond. The higher the carat, the higher the price. This is because large diamonds are rare. It is important to note that two diamonds that have the same numberof carats can have two different prices due to their other characteristics like cut, colour and clarity.
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Certification: last but not least, the diamond you purchase should be certified and should be from an unbiased and recognised source like the Gemological Institute of America (GIA), American Gem Society (AGS) or Diamond High Council (HRD) which is popular in Europe.
We understand that the process of buying a diamond can be overwhelming with so many options. We are here to assist and guide you to choose a beautiful diamond in Melbourne that your fiancé will love and appreciate.