Buying a diamond is a significant purchase, but finding the right seller and understanding how diamonds are valued will help you make the right choice. Knowing what affects the price of a diamond and understanding the slight and nuanced details that can affect its value will help prevent you overpaying. So whether you are buying an engagement ring, diamond necklace or earrings, read our top diamond buying tips below.
Buy from GIA Trained Gemologists
One of the easiest ways to know if you’re buying a diamond at a fair price is to ensure that it has been assessed and priced by a trained professional. It is always worth buying from diamond experts. The most knowledgeable and respected diamond professionals in the industry have been trained at the Gemological Institute of America. They use the GIA’s standard grading scale when valuing a diamond, a reliable and trustworthy grading system.
We always recommend that you do your research and look at various diamond sellers. Respected online diamond sellers include Gemma By WP Diamonds and Blue Nile, both of whom are expert diamond sellers with GIA trained gemologists on staff.
Ask for a GIA Report
It is always important to ask for a diamond certificate when purchasing a stone. While there are various different diamond grading laboratories and a jeweler can also easily issue an appraisal, a GIA report is considered the most accurate of reports. The GIA is the most respected diamond-grading laboratory and is the gold standard in the industry. The grades on any other diamond report are subject to dispute. To be entirely sure of what you have purchased, we always recommend requesting a GIA report, as this will confirm its exact characteristics.
Know How Diamonds are Graded
Know and understand the 4 C’s: carat weight, color grade, clarity grade and cut grade. These four key characteristics will determine quality of the diamond and its value.
In simple terms: the higher the carat weight, the larger and therefore more valuable the stone. Color grade refers the presence or lack of yellow/brown color in a diamond; this ranges from the letter D (colorless) to Z (light yellow). In white diamonds, the less color, the more valuable the diamond. Clarity grade points to any imperfections in the stone (called feathers or inclusions), ranging from FL (flawless) to I3 (imperfect). And finally the cut refers to the proportions of the stone, which effects how the stone sparkles. Cut grades range from Excellent to Poor.
However, these are not the only factors that are taken into account when grading a diamond. Find out more here.
Buy Secondhand Diamonds
The secondhand diamond market has grown exponentially, and for good reason. By buying secondhand, you are avoiding heavily marked retail prices but not compromising on quality. When buying for a reputable second hand diamond buyer, the stones will have been refurbished and polished to excellent quality. What’s more, buying recycled, second-hand diamonds is an environmentally responsible decision. It reduces the demand for new diamond mining, which has a devastating impact on the environment, polluting the surrounding air, soil and water.
It is important when finding online sites that sell used diamonds, that they have experts that are handling the stones. Again, having a GIA trained gemologist on staff ensures that they can see the true value of the stone, and they can authenticate that their pre-owned diamonds have been refurbished to an excellent and valuable condition.