How to Buy Diamond Engagement Rings

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How to Buy Diamond Engagement Rings

There is much to consider when purchasing
a diamond – especially diamond
engagement rings! The tradition of
presenting a woman with a diamond
engagement ring when proposing began in
1477 when Archduke Maximilian presented
a diamond ring to Mary of Burgundy – and
in most cases, the woman you plan to
propose to will expect a ring to accompany
that proposal!

First, determine how much ring you can
afford. Most people use the ‘two months
salary’ rule. This means that the ring should
cost the equivalent of two months of your
current salary. Because you have other bills
to pay, saving up this amount of money may
take quite a bit of time. You should consider
financing. Simply go to the jeweler of your
choice and tell them that you plan to buy an
engagement ring, and that financing will be
necessary. Go ahead and get the credit
check out of the way, find out what your
payments will be, and how much of a down
payment is required.

Now, have your mother, sister, or your
girlfriends best friend take your girlfriend
shopping, and make sure that they gaze at
the engagement rings to get an idea of what
she might like. Make sure that the jewelry
store you buy the ring from will allow you to
return the ring, if that is required, or allow
your girlfriend to exchange it for another if
she isn’t happy with it!

How Diamond Prices Are Determined

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How Diamond Prices Are Determined

Pricing most products is quite easy.
Determine how much it costs to make the
item, how much it costs to market that item,
and then mark it up by 15 – 30% or more.
Simple, right? Well, pricing diamonds isn’t
quite that simple. There are many factors
that are considered when diamonds are
priced.

Diamond prices are determined first by
adding the cost of the rough diamond, the
cost of cutting the diamond, and all other
costs necessary to turn the rough diamond
into a marketable diamond. Depending on
the importance of the diamond, an
independent company may be called in to
certify the grade of the diamond based on
color, cut, clarity, and weight.

At this point, the diamond becomes more
expensive each time it changes hands, until
it finally reaches a retailer, where the price is
raised a bit more. Before reaching the
retailer, however, the diamond must travel
from the mine, to the cutter and polisher, to
the independent grading company, and
then to the Primary market. Once it has
reached the primary market, it will be
purchased by diamond dealers and
wholesalers, and from there it will be sold
to retailers.

As you can see, the earlier you can purchase
a diamond in the process, the lower the cost
of the diamond will be – but not the value.
The value is based on what the diamond will
sell for in the market place – through a retailer.

If you own a diamond, and you have no idea
how much it is worth, you can have it
appraised, but the appraisal may not be
accurate. You will be better off obtaining a
certificate through GIA – Gemological Institute
of America. With the information on this
certificate, you can use a cutter’s guide to
accurately determine what your diamond is
worth.

There are also many diamond price
calculators available. These can be found
on the Internet, and many diamond dealers
use these as well. You must realize, however,
that before you can accurately price a
diamond, without a Diamond Grade Report,
you need to know quite a bit about diamonds,
such as different cuts, clarity, color, and weight
– and how each of those aspects adds to the
value of a diamond, or decreases the value of
the diamond as the case may be.

Again, you will be better off if you get a
Diamond Grading Report on the diamond,
and use that information to look up the price
in one of the guides that the diamond cutting
industry uses. This will give you the most
accurate value of the diamond in your
possession, or of the diamond you are
considering purchasing.

How Diamonds Are Mined

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How Diamonds Are Mined

We seldom think about how the diamonds
we wear came to us. Natural diamonds, as
opposed to synthetic diamonds or fake
diamonds, are mined from the earth. There
are currently two methods of mining
diamonds: Pipe Mining and Alluvial Mining.

When pipe mining is used, the diamonds
are extracted from the earth through volcanic
pipes. These are not man-made pipes. These
are natural pipes in the ground. Shanks are
put into the ground next to the pipes, and
tunnels are driven into the deepest parts of
the pipe. The diamonds are not sorted out at
the mine. Instead, huge rocks that are full of
diamonds are brought out of the mine and
moved to a screening plant for separation.

The Alluvial mining method is done in
riverbeds and on beaches. Walls are built to
hold back the water and the sand on the bank
or beach is moved with a bulldozer until the
level of earth that diamonds can be found in
is reached. Again, the diamonds are not
sorted here. Instead, the sand that contains
the diamonds is bulldozed into trucks, and
taken to screening plants.

How Diamonds Are Cut

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How Diamonds Are Cut

In their most natural form, diamonds are –
well – quite ugly. They have no luster or shine,
and in fact, look like nothing more than
broken glass. A diamond must be cut, and
then polished before it actually becomes a
thing of beauty.

Diamonds are cut with saws, into round
shapes. From the rounded shape, other
shapes may be cut, such as heart shapes
– but the shape is less important than the
quality of the cutting that is being done. If
the diamond is poorly cut, it will lose light,
and it will not sparkle and shine very well.
Each facet of the diamond must be
carefully cut into the geometrical shapes
that allow the diamond to sparkle and
shine, then the entire diamond is cut into
a specific shape, such as an emerald cut
or a princess cut diamond.

Once the cut is done, the diamond is put into
a dop, which resembles a cup with another
diamond – only a diamond is strong enough
to smooth the edges of another diamond.
Once the diamond has been cut and shaped,
and had the edges smoothed in the dop, it is
polished on a scaif or a diamond polishing
wheel.

Famous Diamonds

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Famous Diamonds

Among the most well known diamonds is the
Hope. This 45.52 carat steel blue diamond
is currently on display at the Smithsonian.
The legends of the ill-fortune and curse
bestowed on the possessor of the Hope
Diamond are many. This diamond was
donated to the Smithsonian in 1958. The
Hope was originally a rather flat, blocky
110-carat rough.

The Dresden Green stands out among the
natural colored diamonds. It is the largest
green diamond in the world weighing
40.70 carats. This diamond is historic, large
and has a natural green color with a slight
blue overtone. These facts make it virtually
priceless.

The Conde Pink is a pear shaped and
weighs 9.01-carats. This pink diamond was
once owned by Louis XIII.

The Tiffany Yellow diamond a beautiful
canary-yellow octahedron weighing 287.42
in the rough (metric) carats discovered in
either 1877 or 1878 in South Africa. The
gem after cutting boasts the extraordinary
weight of 128.54 carats. And until recently,
was the largest golden-yellow in the world.

The Koh-I-Noor ( Mountain of Light ) is now
among the British Crown Jewels. This
diamond weighs 105.60 carats. First
mentioned in 1304, it is believed to have
been once set in Shah Jehan‘s famous
peacock throne as one of the peacocks eyes.

The Agra is graded as a naturally colored
Fancy Light Pink and weighs 32.34 carats.
It was sold for about 6.9 million in 1990.
Since this sale, it has been modified to a
cushion shape weighing about 28.15 carats.

The Transvaal Blue is pear cut. This blue
diamond weighs 25 carats. It was found in
the Premier Diamond Mine in Transvaal,
South Africa.

The Great Chrysanthemum was discovered
in the summer of 1963, in a South African
diamond field. This 198.28-carat fancy
brown diamond appeared to be a light
honey color in its rough state. However,
after cutting, it proved to be a rich golden
brown, with overtones of sienna and burnt
orange.

The Taylor-Burton Diamond is a pear-shaped
69.42 carat diamond. Cartier of New York
purchased this diamond at an auction in
1969 and christened it "Cartier." The next
day Richard Burton bought the diamond
for Elizabeth Taylor. He renamed it the
"Taylor-Burton”. In 1978, Elizabeth
Taylor put the diamond up for sale.
Prospective buyers had to pay $2,500
each to view the diamond to cover the costs
of showing it. Finally, in June of 1979, the
diamond was sold for nearly $3 million dollars.

Diamond Scams

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Diamond Scams

When it comes to diamonds, there are
numerous scams to avoid. Most scams are
minor, but there are some major ones that
come up from time to time concerning the
buying and selling of diamonds. Scams
occur simply because most people who buy
diamonds – for whatever reasons – don’t
know that much about diamonds. Therefore,
they are easily fooled.

A common scam that most jewelry stores
participate in is the Carat Total Weight scam.
The tag on the piece of jewelry, usually a ring,
only states the total carat weight of all
diamonds in the piece, instead of listing the
total weights separately for each diamond.
This leads consumers to believe that the main
diamond in the piece is actually bigger than it
is. Ask what the total carat weight of the center
stone is. Also beware of fractions. Jewelry
stores are allowed to round off diamond
weights. This means that if the jeweler tells
you that it is a พ carat diamond, it is
probably between ฝ and พ carat – but
closer to พ.

Jewelry stores often run ‘fluorescence’
scams to varying degrees. Referring to a
diamond as a blue-white diamond is such a
scam. A blue-white diamond sounds very
unique and special, but in fact, this type of
diamond is of lesser quality – even though
the jeweler will try to make you think you are
getting something special. Jewelry stores
also like to show their diamonds in bright
lights. Lights make diamonds shine. Ask
to see the diamond in a different, darker
type of lighting as well.

Some truly unscrupulous jewelers target
those who want appraisals on diamonds
that were given to them as gifts or that were
purchased elsewhere. They will try to tell you
that the diamond is worthless, or worth less
than it actually is worth – and offer to take it
off your hands or trade it for a much better
diamond, along with the cash to make up
the difference. This is called low balling.
Get a second, third, and even a forth opinion
before taking any action.

Another common dirty trick is to switch the
diamond you have chosen and paid for with
one of lesser quality and value when you
leave it to be set in a piece of jewelry, or
leave a diamond ring to be sized. The only
way to avoid this is to do business with one
trustworthy jeweler. Avoid jewelers that you
have not done business with in the past.

There are many more scams that jewelry
stores commonly pull on unsuspecting
consumers. Just use your best judgment,
and purchase your diamonds with the
utmost care and consideration.

Diamond Grading Reports

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Diamond Grading Reports

You’ve been told that having a certificate or
a diamond grading report is important, and
as a responsible consumer, you get one –
unfortunately, you probably won’t understand
a word of what is on that diamond grading
report, unless you are a jeweler.

On the color grading scale, D, E, and F
mean that the diamond has no color. G, H,
and I means that it has very little color. J, K,
and L means that the diamond has a slight
yellow color. P, Q, R, S, T, U, V, W, and X
means that the diamond is a darker shade
of yellow. Z means that the diamond has a
fancy color – other than white or yellow.
On the color grading scale, D is the most
valuable, and X is the least valuable –
however diamonds that get a Z rating are
the rarest and most expensive diamonds
in the world.

There are many aspects to a grading report.
Figuring it all out can be very confusing. You
should talk to a jeweler you trust, and have
them explain everything on the diamond
grading report to you.

Diamond Brands and What They Mean

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Diamond Brands and What They Mean

Diamonds are one of the few products that
simply cannot be ‘branded.’ Even though
there are different cuts, different grades, and
different values placed on each and every
diamond in existence, no diamond is any
specific brand – just as gold is not a specific
brand.

Branding is actually based on who owns the
diamond. For instance, if DeBeers owns the
diamond, it is a DeBeers Diamond – but it is
still just a diamond. If the diamond was cut by
a specific well known cutter, then it might be
branded in that way as well – but it usually
isn’t. It is still branded based on who owns it
at the time. So basically, when it comes down
to it – diamond brands mean absolutely
nothing at all.

Do not allow a jeweler to try to talk you into
paying an exorbitant price on a diamond
because it is a specific brand. This is a bit
of trickery used by unscrupulous jewelers
when they know that they are dealing with
people who don’t know much about
diamonds. Remember that diamonds are
not actually branded – unless mother nature
has her own brand!

Colored Diamonds

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Colored Diamonds

Fancy colored diamonds are all the rage
these days. Gemologists have developed
new ways to create versions that are
affordable for the average person - by
treating less desirable diamonds. These
less desirable diamonds are treated with
irradiation followed by intense heat. This
turns brown and yellowish diamonds into
beautifully colored diamonds that you can
afford. This produces stunning greens,
blues, yellows, reds, purples and other
colors. These colors are considered
permanent, but there is a possibility
they could change during repairs if a high
heat is used.

Treatments like irradiation make it possible
for more people to own these vividly colored
diamonds. Most natural colored diamonds
are rare and also extremely expensive. When
shopping for colored diamonds you need to
assume that any affordable fancy color
diamond has been treated. Ask about the
stones origin and request to view a lab
certificate to verify authenticity.

Synthetic colored diamonds are another
option if owning a colored diamond is
something you desire but cannot quite afford.
They are real diamonds, but they are created
in a lab.

Natural fancy color diamonds get their
coloring from different trace elements present
in the stones, such as nitrogen, which
produces a yellow diamond. Diamonds can
be colored by exposure to radiation during its
creation. An example of a diamond affected
by radiation is a Green diamond.

Another way that a natural colored diamond
gets color is by its inclusions. Regarded as
flaws and undesirable in a colorless diamond,
inclusions give unique tones and brilliant
flashes of color in a fancy color diamond.
Remember that Natural fancy colored
diamonds are very expensive, any colored
diamond labeled to be sold as natural should
be accompanied by a certificate from a
respected grading lab.

A "fancy" diamond is a natural diamond that
has color. These colors vary from red, green,
purple, violet, orange, blue and pink – and
most shades between. Fancy color shades
vary from faint to intense.

The most famous diamonds in the world are
Color diamonds. The Tiffany Diamond,
which is yellow and the Hope Diamond which
is blue are colored diamonds. Color
diamonds have an amazing financial track
record. The value has never decreased on
wholesale level in more than 30 years. Blue
and pink diamonds have doubled every 5
years of a strong economy. In the 1970’s
you could have bought a very high quality
blue diamond for about 50K and today the
very same stone would be worth between
2 and 3 million.

Choosing The Cut of A Diamond

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Choosing The Cut of A Diamond

There are many different cuts of diamonds
to choose from. The cut essentially refers to
the shape that the diamond is cut into –
unless you are in the diamond or jewelry
business, but this shape has a great impact
on the much the diamond sparkles.

The most popular cuts are heart, marquise,
oval, pear, princess, round, trillion, and
emerald cuts. The shape has an impact on
how much the diamond sparkles, but the
actual cutting itself – when the diamond
cutter actually cuts the diamond into a
particular shape – also matters a great
deal. If the diamond is poorly cut, it will lose
its sparkle.

However, in the diamond industry, the cut of
a diamond doesn’t refer to its shape at all.
Instead, this is a reference to the stone’s
depth, width, brilliance, durability, clarity, and
other aspects of the diamond. Common
cutting problems include a missing or off
center culet, misalignment, a diamond that
is too thick or too thin, cracks, or broken
culets.

When shopping for a diamond, you should
of course choose the shape that you like the
best, but then look at several different
diamonds of that shape to find the one with
the best cut – the one that sparkles the most,
in all types of lighting.

Buying Diamonds Online

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Buying Diamonds Online

With all of the potential for scams concerning
diamonds, buying diamonds online almost
seems unthinkable! However, you actually
can purchase diamonds online, without any
problems – as long as you are careful.

First, think about your reasons for wanting to
purchase the diamond online, as opposed to
making a purchase from a local jewelry store.
The most common reason is price. Due to
low overhead costs, online jewelers and
wholesalers are able to offer lower prices.
However, you must be careful – sometimes
a price that is too low is a sure indication of
a scam.

One of the best things about purchasing
online is the unlimited selection. When
shopping offline, you are limited to the
selection in the stores in your general area.
Online, there are no limits. But again, you
must use a great deal of care and
consideration before handing your money
over to someone that you cannot see and
have never met!

Before shopping, learn as much as you can
about diamonds – especially cut, color,
clarity and carat weights. When you are
knowledgeable about diamonds, it will be
harder for a con artist to rip you off. Once
you know more about diamonds, you will be
ready to start shopping.

Take your time. Don’t purchase the first
diamond that you see that interests you.
Instead, look for similar diamonds for sale.
Do some comparison shopping to find the
lowest prices. Once you have found the
lowest price, start doing your investigation.
You know about diamonds, you’ve found a
diamond that you love, and you’ve found the
lowest price – but you are still quite a ways
away from actually purchasing that diamond!

Ask about the seller’s credentials, such as
professional jewelry associations that they
belong to. View and print the seller’s return,
refund, and upgrade policies. Also inquire
about additional services, such as settings
and mountings, sizing, and free shipping. Do
a search for customer reviews on this
particular company around the Internet. Also
check with the BBB Online to see if there have
been any complaints.

Ask for a diamond grading report from an
independent laboratory such as GIA, HRD,
EGL or AGS. You should see this before
making a purchase. Finally, use a reputable
escrow service for high dollar diamonds –
preferably one that will have the diamond
appraised while it is in their possession. The
seller sends the diamond to the escrow
service, and you send the money to pay for
the diamond to the escrow service. The
escrow service has the diamond appraised,
sends the diamond to you, and sends the
money to the seller. This is the surest way to
protect yourself…again, make sure that you
use a reputable escrow service!

Bonded Diamonds

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Bonded Diamonds

Before you start shopping for diamonds,
consider dealing with a bonded jeweler.
Bonded jewelers sell bonded diamonds,
and there are very few bonded jewelers in
the world. In fact, out of all of the jeweler’s
in the world, only about 5% of them are
bonded. Buying a bonded diamond will
cost more than buying a non-bonded
diamond, but when you look at what you
get with the bonded option, you will see
that it is well worth the extra expense.

First, bonded diamonds have a buy back
policy for the life of the diamond. No matter
how long you have had the diamond, you can
take it back to the bonded jeweler and sell it
back to him or her, for a 100% refund. If a
jeweler does not offer a 100% buy back
guarantee, for the life of the diamond, then
you should take a closer look at the diamond
to see what is wrong with it.

Bonded diamonds also have a breakage
policy. If the stone breaks or chips, the
bonded jeweler will replace it with a new one
– one time. No jeweler would ever offer such
a policy on any stone that was not 100%
natural, so just the offer of such a policy
should give you piece of mind concerning
the quality of the diamond. Bonded
diamonds are natural and untreated.

Bonded diamonds increase in value, with a
fixed appreciation rate that is designed to
keep up with inflation. This means that a
diamond that is worth a certain amount of
money today will be worth more in the future,
as the price of diamonds continues to rise.
This generally does not apply to buy backs,
however. It typically applies to trade-ins.

Alternately, by purchasing a bonded
diamond, you are protected against the
possibility of a market crash. If a market
crash occurs, the value of diamonds will
drop. However, the bonded jeweler
guarantees to refund you the difference
between what the diamond is now worth
and what you paid for it before the market
crash.

It may be difficult to find a bonded jeweler in
your area, but if you can, this is who you
want to deal with, as opposed to dealing
with an un-bonded jeweler. Specifically tell
the jeweler that you are only interested in
bonded diamonds. You can find a bonded
jeweler in your area by using various online
resources, or by calling the local jewelry
stores.

Are Diamonds Really Rare?

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Are Diamonds Really Rare?

When you walk into a jewelry store and see
all the diamonds in all of the various settings
that are for sale, it is difficult to realize that
diamonds are indeed rare. Most people
don’t even stop to consider how that
diamond came to be sitting in that jeweler’s
case! There is quite a bit of work that is done
before a diamond is ready to sell to the
general public!

For every one million diamonds that are
mined, only one will be found that is a quality
one caret diamond. In order to find a two
caret diamond, about five million diamonds
must be mined. More than two hundred tons
of ore must be mined to find one small
diamond, and even then, more than 80%
of the diamonds that are mined are only
good for industrial use, such as diamond
drill bits.

So, the next time you visit your local jewelry
store, ask to see the one carat diamonds.
You should look at this diamond with new
appreciation – knowing that it truly is one
in a million!

About Diamond Weights

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About Diamond Weights

Diamonds are measured in Carat Weight.
One carat weighs 200 milligrams. If a
diamond is referred to as four grains, this
also means that it is a one carat diamond.
The word Carat comes from the word carob.
A carob is a bean that grows on a tree in the
Mediterranean. In times past, if a diamond
weighed the same as a carob bean, it was
one carob, or one carat.

However, in the far east, where Carob trees
do not grow, rice was used to measure the
weight of a diamond. If a diamond weighed
as much as four grains of rice, it was four
grains – or one carat as we know it to be
now. The majority of diamond purchases
are for diamonds that are 1/3 of a carat.

Beware when shopping for diamonds that
are already set or mounted. If more than one
diamond is used in the piece, the tag on the
jewelry will give the CTW or Carat Total
Weight – it does not tell you the carat weight
of each stone in the piece. You need to ask
the jeweler for the total carat weight of the
largest diamond in the piece to truly
understand what you are buying.

All About the Clarity of Diamonds

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All About the Clarity of Diamonds

Clarity is an important aspect of a diamond,
and it is important to know how to grade the
clarity of a diamond before you buy one. It is
actually quite easy to learn how to grade the
clarity of a diamond. There are basically two
things that you must understand: Diamonds
with visual inclusions and blemishes, and
those that are ‘eye clean’ meaning that there
are no inclusions or blemishes that can be
seen with the naked eye. From there, the
clarity of a diamond is further broken down
into subcategories.

Many people mistakenly think that diamond
clarity refers to how clear it is. This isn’t so.
Clarity actually refers to the internal and
external imperfections of the diamond. The
best diamonds, of course get a grade of FL
or IF – Flawless or Internally Flawless –
meaning that it is perfect. A grade of I-1, I-2
or I-3 means that the diamond is imperfect,
with a grade of I-3 being the worst.

Other grades are VVS1 and VVS2, which
means that the diamond is very, very slightly
imperfect; VS1 and VS2, meaning the
diamond is very slightly imperfect; SI-1 and
SI-2, which means that the diamond is
slightly imperfect.