Buying Diamonds – The Diamond Buying Guide
When you start to think about buying a diamond, you naturally will want the best diamond that you can afford and a beautiful stone you will treasure forever.
Diamonds can be found in a range of shapes, sizes, qualities & prices. If you are about to buy a diamond for an engagement ring, you may want to consider spending the commonly accepted guideline of two months’ salary. However you should spend as much as you can comfortably afford. Buying a diamond is not like buying a car which will depreciate over time, they endure generations and are passed down in your family as an heirloom. Remember, diamonds ARE forever.
The value of a diamond is determined by its exact quality as defined by the 4C’s: Cut, Colour, Clarity and Carat-Weight.
It is the sparkle or brilliance that gives a diamond its unique quality.
Many people become overwhelmed when they start searching for a diamond. It seems that the fear of either buying a diamond that is not a very good quality or paying too much can cause people to go on a quest to become a diamond expert overnight. Getting knowledge and educated about diamonds and the 4C’s – Cut, Colour, Clarity & Carat Weight – is a big first step towards buying the right diamond.
How to Buy Diamonds
Before you start diamond shopping, it is best to have an understanding of what you are buying.
The best way to purchase a fine high quality diamond with confidence is:
Gain a basic understanding of the qualities of a fine diamond. Our diamond Education section has information on The 4C’s — cut, colour, clarity and carat weight. These are the criteria that diamonds are graded and valued upon.
Set a personal budget. This will dictate a lot of the parameters for the diamond you are searching for and obtain a realistic idea of what diamonds cost.
Decide on the diamond specifications. What shape of Diamond do you prefer? Then decide on diamond size, diamond colour, diamond purity and diamond cut quality.
Insist on a Diamond Certificate with any diamond you purchase from an independent internationally accredited diamond laboratory – DCLA, GIA, HRD or AGS. A diamond certificate or diamond grading report documents the specifications of a diamond’s carat weight, colour, clarity, technical measurements & quality of cut which are verified by an independent laboratory with no conflict of interest between buyer and seller.
Search for the best quality diamond at an affordable price according to your diamond preferences – Diamond Shape, Carat weight, Colour, Clarity & Cut Quality.
Make sure the diamond is in stock. Has the jeweller or diamond dealer actually viewed and inspected the diamond? Are they just attempting to sell the diamond purely by certificate specifications alone? Are they able to offer any further advice or information on the diamond? How can they describe the diamond ‘s face up appearance and beauty if it is not in stock?
View the diamond in person where possible. Compare the quality of the diamond next to other diamonds before you purchase. Cut is the only factor that man can control. Cut refers not only to the shape and style of the diamond, but its proportions, symmetry, and finish or “make”. Cut determines the brilliance and fire of the diamond and is actually one of the most important aspects to consider when choosing your diamond.
Buying Loose Diamonds for Jewellery
Other factors that will influence your choice of diamond is deciding on the diamond shape. Everyone has a special attraction to a certain shape. It is extremely important to determine the diamond shape first as the shape can effect the final price dramatically.
Another important factor to consider when selecting a diamond is the type of setting you plan on using. If you plan on mounting the stone on a platinum or white gold setting, consider a diamond in the D-G range. Yellow gold will be better suited to diamonds with a lower colour, regardless of the setting, the diamond will start to appear yellow if the colour grade is lower than about J when mounted in yellow gold.
Also consider the item of jewellery that the diamond will be used for, whether it is a ring, pendant, earrings or part of a brooch or necklace as this will also narrow the choice of diamond and whether it will be set as a solitaire or have other diamonds surrounding it to enhance the design.
Owning a diamond has always symbolised possessing an item of great beauty and lasting value. Diamonds are certainly the most precious of all nature’s creations.
The fiery brilliance of a diamond is an eternal symbol of love.
What Do Diamonds Cost?
What to Spend on a Diamond?
Guys who are ready to ask for a woman’s hand in marriage will inevitably attempt to figure out how much money they should spend on a diamond engagement ring, what the diamond will cost them and whether they will be able to afford a diamond engagement ring for their fiance. Most people have heard that diamond engagement rings cost two months’ salary.
Where did the two months of salary idea come from?
The origin of the two months’ salary began with De Beers, the largest diamond producer and diamond marketer in the world.
In 1947, De Beers decided to promote diamonds following the depressed wartime market. De Beers launched a marketing campaign with a New York advertising firm. A copywriter penned the famous slogan “A diamond is forever” that is now synonymous with Diamonds.
A diamond, like your marriage, is supposed to last forever.
De Beers wanted to bring diamonds to the masses, make them seem more affordable, rather than have them just for sold to the wealthy and select few. Accordingly, the price of a diamond for an engagement ring was set at approximately two months of salary.
This was a concept that everyone could understand, it was aimed at the groom to be and therefore made buying a diamond for an engagement ring achievable no matter whatever his salary was.
No longer did people think of diamonds as being something which they could never afford, they now had a figure to relate to in simple terms – two months salary.
The two months salary became the norm and in the mind of the groom it was the predetermined acceptable price for a diamond engagement ring. As a general guide usually grooms spend between 10 – 20% of their annual salary on a diamond engagement ring.
Diamond Buying Guide
Set your budget, choose your diamond shape, decide on diamond carat weight, decide on diamond colour preferences, clarity range and diamond cut quality. Search for diamonds that suit your preferences, confirm the diamond certificate and where possible view the diamond in person or consult via telephone for further advice and information.
* Independent Certification is Essential – Beware of In-House Grading Reports *
This is why you should always, as a first priority, insist on an independent diamond grading certificate from an accredited laboratory to support any added claims about a diamond.
Diamond Imports strongly recommend diamonds that are graded by DCLA, GIA, HRD or AGS.
Diamonds, just like your marriage, are an investment, and have been an investment device for several thousand years.
There is no right or wrong amount to spend on a diamond engagement ring and many men do spend more than two months’ salary on their fiances engagement ring. Lets face it when the wedding and honeymoon are over; What is left? What will she wear every day as a memory?
The Rings! – A symbol of your Love and Comittment