Buying diamonds is very confusing. There is a lot of information to sort out and when it comes to price, there are many factors that make it even more confusing.
Below are some basic rules to buying diamonds and understanding what determines the price.
When discussing price and what is fair, you need to know what you want and be sure your getting exactly what your paying for. It's hard to figure out if you're getting a fair deal and the best price. Most of all, you want to be sure you're not getting scammed. You must have confidence in what you're buying.
If you're buying a diamond over 0.75 pts, our personal recommendation is to buy a certified diamond. The purpose of buying something certified is to confirm you're actually getting what you're being sold. The only certificates that can provide this are GIA and AGS laboratories. These are the most well respected diamond labs in the industry. If you're buying smaller goods (0.75 pts and or melee), you must work with a reliable and experienced dealer.
Knowing which certificates to rely on is great information, but you need to understand all the details listed on the certificate. It’s not enough to have the certificate - you need to understand how all of the details can impact pricing.
Deciphering this information can be very difficult, but balancing it out to get what you want is key.
The best advice I can give is to do your homework. Shopping around and getting an education is the first step. There are very specific details about quality and what makes one diamond more desirable than the other.
Diamond prices can vary greatly depending on shape, cut, clarity, color and size. When you're trying to access price, you have to consider the 4 C’s.
The better a diamond's 4 C’s are, the higher the price will be - which will bring you to a higher price.
Diamonds are priced per carat. As you increase the size of the diamond, you increase the price per carat. So, the higher the diamond weight, the more expensive the price will be.
Diamond prices increase exponentially with weight.
How to Get the Best Value
Getting the best value is all about about finding a balance between the 4 C’s to fit your budget and expectations of overall beauty.
One of the most important C’s is the cut of the diamond. It will have a significant impact on the overall appearance of the stone. If you were to compare 2 stones that both weighed 1.00ct and were both F VS2, depending on the cutting they would have 2 different prices per carat, hence the beauty.
A well-cut diamond can look significantly better than a diamond that may have a better color and clarity. Weigh what is important to you so you can understand value.
Navigating all of the above information can be challenging, so it is important that you work with an expert who is willing to show you the differences, as knowledge is key. I am always happy to share my personal advice when hearing some of the factors that are important to you.