An Introduction To Buying A Diamond Ring
The Diamond
The diamond is considered to be the king of gemstones due not only to its rarity, but to its optical effects and hardness.
The word diamond comes from the Greek language: adamas means the unconquerable, and the word refers to the hardness of diamonds. No other gemstone can compare to the diamond in this respect.
Most people think of Africa, and specifically South Africa, when they think of diamond-producing regions, but in fact diamonds are found in a number of countries. In addition to the African continent, major diamond producing areas include Australia, Russia, and Brazil.
Different diamonds have different characteristics and come in a variety of colors. Green, red, blue, purple and yellow diamonds are known as the fancy colors and a rare. It's even possible to find brown and black diamonds.
If you plan to buy a diamond, you need to know the four criteria used to grade diamonds: cut, color, clarity, and carat
Cut
This refers to the angles and proportions of the stone: the type and shape of cut, the proportions and symmetry, and outer marks.
If you look closely at a diamond with a magnifying glass or loupe you can see that it has facets that reflect the light. The better diamonds reflect light upward and are more brilliant (and more expensive). Deep or shallow cut diamonds reflect light out the bottom or side of the stone and are less brilliant and less expensive.
Color
This refers to how see-through or cloudy a diamond looks. The Gemological Institute of America (GIA) uses a scale from D (colorless, icy) to Z (yellow like lemonade) to grade diamonds. Colorless and near-colorless diamonds are the most expensive.
Clarity
Clarity is affected by inclusions (enclosed minerals, growth lines, cleavages). You generally need a loupe or microscope to see them - if you can see any inclusions without magnification, this is not a good thing. However, diamonds are not perfect, so you should not expect to find one that's truly flawless. In fact, a polished diamond without inclusions that can be seen with a 10X loupe are considered flawless - inclusions that can be seen with more powerful magnification are not taken into account when grading.
The GIA ranks diamonds as Lr FL (flawless - free of inclusions under a 10X magnification and absolutely transparent), VVS (very, very slightly included), VS (very slightly included), SI (slightly included), PI (inclusions immediately seen under 10X magnification but not diminishing brilliance), PII (larger and/or numerous inclusions slightly diminishing brilliance), and PIII (large and/or numerous inclusions that diminish brilliance considerably). Something else to keep in mind is that when a diamond is mounted, the inclusions might be disguised by the mounting.
Carat
Since ancient times, carat has been the weight used in the gem trade. The name comes from the word kuara (the seed of the African Coraltree) or from keration (Greek for kernal, from the Carob bean). So carat refers to a diamond's weight, not its size. One carat is 200 milligrams (mg) and contains 100 points ( 1 point=1/100 carat). Gemstone prices are usually on a per carat basis.
Don't confuse carat with the term "karat" used in reference to gold. Karat refers to the quality of gold - the higher the karat, the higher the gold content.
Natural or Treated?
A natural diamond is preferable because it doesn't have any coating that changes its color or any lead glass fill to hide blemishes.
Which cut should you choose?
Round diamonds are not the only choice you have, and they do usually cost more than other shapes. If budget is a consideration, consider the Marquise, Princess, Radiant, Pear, Oval, Emerald, and Heart shapes as alternatives.
The Band and Setting
These days, platinum and palladium are not much more expensive than gold, so if you are looking for a white metal band, keep these in mind.
If you plan to buy a diamond ring, you will want to go beyond this brief introduction. The resources listed below are absolutely worth looking into.
Helpful Resources
Diamond Review does not sell diamonds or jewelry. It offers free, unbiased research and tools for diamond shoppers and enthusiasts.
Diamond Ring Buying Guide: how to Evaluate, Identify and Select Diamonds and Diamond Jewelry and Diamond Handbook: A Practical Guide To Diamond Evaluation, both by Renee Newman, are two good books that will help you in your research and decision-making.
For a woman's perspective on this subject, you can't beat A Girl's Guide to Buying Diamonds: How to Choose, Evaluate, and Buy the Diamond You Want by Randi Molofsky. Learn how to choose the perfect diamond, based on your lifestyle, personality, even hand shape. Beautiful illustrations and photographs enhance discussions of bands, settings, cuts, and how to identify imperfections.
If you are interested in other gemstones and buying jewelry in general, a really handy book to have is Jewelry & Gems, the Buying Guide: How to Buy Diamonds, Pearls, Colored Gemstones, Gold & Jewelry With Confidence and Knowledge, by Antoinette Matlins and Antonio C. Bonanno. The 7th edition is due out in 2009, but earlier editions are quite excellent too.
