Factors to Know When Buying a Diamond
Much has been said over the years on the topic of buying diamonds. An industry that involves the trade in carbon-based gemstones, individually or as part of jewellery items, in addition to those which are used in industrial processes.
When it comes to fine jewellery like diamond engagment rings, which is our area of expertise, that involves the sale of gem quality diamonds either for individual use, or as a part of a fine jewellery item the focus lies mainly on two factors: the visual character of the stone, and internal integrity of the stone. Both factors are interconnected. Hence any discussion of diamond quality must engage them both.
In this Education page, we will break down the key factors that one must consider when buying a top-quality diamond. That’s right, our focus is on buying gem-quality diamonds only, including some info on buying fancy (coloured) diamonds and lab-grown options. So let’s get into it.
What Makes a Gem Quality Diamond?
For those who are new to the discussions on diamonds and gemstones in general, the term ‘gem quality’ might seem a bit confusing. How can diamonds and other rare gems not be ‘gem quality’? To answer one must consider the fact that diamonds and other top gemstones see a wide range of applications.
In various industries from medical equipment, industrial production and even aeronautics. And the kind of diamonds that are used varies in terms of innate qualities such as colour, and clarity scales. For example, diamonds that are valued for their high durability and cutting power, when shaped in a specific way, are not going to be selected for factors like sparkle and glow.
Generally, the type of diamonds that are used in jewellery making or as cut gemstones is of a different league. From featuring better colour and clarity. At this point what is meant by the term ‘better’? When it comes to diamonds, their practical usage comes down to the average quality of the stone.
Since diamonds are sourced from nature in their rough uncut state their quality is greatly variable. Since the cutting and polishing process adds value to the stone by altering its character. However, this process greatly varies, as the diamonds that are deemed worthy to be subject to cutting and polishing as a gem quality stone are relatively small. According to the GIA, which is one of the world’s foremost authorities in diamonds, observes that only 30 per cent of diamonds that are mined across the world are gem quality.
Determining Diamond Quality
When it comes to determining the quality of diamonds (gem quality ones) the most important and accessible measure is the 4Cs of diamonds. The 4Cs have long been the industry standard when it comes to determining diamond quality as it measures all of the key factors that make diamond a value proposition in the minds of the customer.
The subject of the 4Cs we have engaged in various ways in a number of our Education pages and blog posts. Thus here we will provide a quick overview of what the 4Cs are by breaking down their key factors.
Carat
The carat of the stone determines the weight of the specific gem. The weight of the stone corresponds to its size. In terms of conversions, a single carat equals 200 milligrams. Since the carat corresponds to the size and the value of the diamond is greatly based on its size. The principle in the world of gemstone jewellery is that bigger is better. As people (who can afford it) opt for larger stones. As it allows for more light to hit a greater part of the surface, thus setting in motion the effects that result from it. Which is greatly dependent on the cut. Which we shall see next.
A key factor in this debate is of course the pricing. When it comes to cutting diamonds, the 1.00-carat mark is key. Diamond buyers might want to keep in mind that when the stone hits the 1-carat mark the price of the stone changes. So buyers tend to stay below that mark. If you are price inelastic then it wouldn’t matter.
Cut
The cut is arguably the most significant factor. Since cut, the gemstone affects many of the factors that make diamonds visually: from the stone’s brilliance to scintillation and fire. In addition, having an effect on the kind of faceting type of stone. Since the cut is what affects the diamond’s shape and overall character, the quality of the cut affects all other factors that affect diamond quality.
When it comes to the cut, the type cut in question, such as round brilliant will have an effect on the carat of the stone, as it takes away much of the rough gem in the process. Thus a different ‘cut’, which is a term that is used interchangeably with the diamond’s shape, affects the size of the stone and its price, per carat. For example, a princess cut diamond actually refers to the diamond’s shape, and is generally more affordable than a round cut, for the same carat.
Generally, a good cut stone will optimise the stone’s light reflective qualities. The quality of the cut comes down to how the cutter optimises the diamonds’ proportions, symmetry, and also polish of the stone. And at the same time minimising blemishes. This takes us to the next point.
Clarity
The clarity of the stone deals with various imperfections in the stone. Either external blemishes or internal flaws, which are collectively known as inclusions. The flaws that are found in diamonds come in a number of types and variations and differ in terms of extent and degree. And are too many lists completely. What the buyer must pay attention to is the extent of the cut and the regions where they are present, if one is considering a diamond with inclusions.
The diamond quality in terms of its clarity is measured according to the clarity grade that extends from Flawless to Included. The flawless and the Internally flawless make up the top of the diamond clarity grade and hence command the highest prices. The grade of diamonds according to their clarity cascades downward from this standard, with stones that make up the Very Very Slightly Included (VVS), Very Slightly Included (VS), and Slightly Included (SI) featuring increasing levels of inclusions.
When it comes to diamond clarity the fewer the number, visibility and size of inclusions the highest its price. There is a balance, however. As simply opting for a high-clarity stone will count for little when it isn’t matched by other quality factors like colour.
Colour
Colour is an interesting thing in the world of diamonds and diamond jewellery. Since when engaging the subject of diamonds often the focus is on colourless or white diamonds. In this range of diamonds, which are the most popular, the stone’s clarity is a function of its ability to interact with light. We have already engaged the subject in relation to that of clarity, now colour is also a factor. But in different ways.
Colour diamonds, once again bear in mind, we are talking about colourless diamonds, the best known, being valued according to the lack of colour in the stone. So the greater the transparency of the stone the greater the value. The presence of a light yellowish or light brownish shade is undesirable and affects the visual quality of the stone.
The Colour in diamonds is graded on the D – Z scale. With D grade diamonds being the highest quality owing to the lack of visible colour. Generally the D – H diamonds are the best in the business. With diamonds in the N - R which have a very light yellow shade, to S - Z diamonds, which feature a light yellow and are generally priced lower. Unless you are looking for colour in diamonds. This takes us to the next point.
Fancy Coloured Diamonds
This is another subject that we have engaged in detail in dedicated pages. For it is enough to understand that fancy coloured diamonds refer to diamonds which are recognised for a particular hue. Notably blue, green, pink, red and yellow.
These coloured diamonds are priced much higher than normal or colourless diamonds due to a number of factors: Most notably their rarity. As fancy coloured diamonds are among the rarest natural gemstones in the world. With some variants (colours) being considerably rarer. Leading the way are Argyle pink and red diamonds.
Whilst the same quality factors that apply to normal diamonds (4Cs) also apply to fancy coloured diamonds. When it comes to colour things are different. And diamond authority such as GIA measures their quality differently.
Lab Grown Diamonds
Another important consideration for first-time buyers and those who are looking for something different, there are lab grown diamonds. Which are a synthetic version of real diamonds that are made in laboratories, using the core elements that give rise to diamonds. Lab grown or artificial diamonds are cheaper, are more friendly towards the environment, and are much more affordable. And make a great ethical choice. Though it lacks the historical and resale value attached to natural diamonds.
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