Crafted by the experienced professionals at Melbourne Jewellers, this guide aims to turn you into an educated diamond buyer.
Buying a diamond is an exciting journey, often marking a significant milestone in one's life. It's essential to know your diamonds before making a significant investment. This guide aims to empower you to navigate the diamond market confidently and make a purchase that aligns with your personal standards and expectations.
Decoding Your Diamond Budget
An age-old question every potential diamond buyer wrestles with is, "How much should I spend?" There isn't a universal answer to this question. It depends on individual financial circumstances and personal preferences. A widely accepted guideline suggests spending one to two months' salary on an engagement ring.
Keep in mind, an engagement ring, unlike a wedding dress, is a daily companion, constantly reminding you of your commitment. Therefore, it's wise to choose a ring that resonates with your style and brings joy every day. After all, a diamond truly is forever.
Determining Diamond Quality - The Famous 5 Cs
When it comes to assessing a diamond's quality, industry professionals use five key characteristics, commonly known as the 5 Cs: Clarity, Cut, Colour, Carat weight, and Certification. Let's delve into each of these parameters:
Clarity
Diamond clarity relates to the inclusions, or marks of non-crystallised carbon within the diamond. The clarity scale ranges from FL (Flawless) to I3 (Included 3), with flawless diamonds being exceptionally rare. It's advisable not to purchase a diamond lower than the SI1 (Slightly Included 1) standard for the best balance of quality and value.
Cut
When we talk about a diamond's cut, we're not referring to its shape (round, princess, etc.), but the quality of the diamond cutter's workmanship. The cut impacts how light interacts with the facets of the diamond, and consequently, how much it sparkles. A poorly cut diamond, either too deep or too shallow, will lack brilliance as light escapes through the bottom. The ideal cut exhibits maximum sparkle and reflects light beautifully. For round diamonds, a "Very Good" or "Good" cut is the lowest you should consider.
Colour
Although diamonds are available in a rainbow of colours, the most prized ones are those that are closest to being colourless. These diamonds allow maximum light return, leading to more sparkle. On the other hand, diamonds called 'Fancies,' with strong, unique colours, are rare and highly valued. The industry grades diamond colour on a scale from D (colourless) to Z (yellow tinted). A diamond of grade H or higher is usually a safe choice for most buyers.
Carat Weight
Carat weight measures the size of the diamond. One carat equals 0.2 grams and can be subdivided into 100 points for precision. Hence, a diamond with 25 points weighs 0.25 carats. The larger the diamond (higher carat weight), the more it will cost.
Certification
Purchasing a certified diamond ensures that you're getting exactly what you pay for. Reputable diamond grading laboratories include the GIA (Gemological Institute of America), AGS (American Gem Society), and DCLA (Diamond Certification Laboratory of Australia).
Avoid accepting a retailer's certification, even if they claim to be GIA certified. Always insist on a certificate from a recognised independent lab.
Key Takeaways: Diamond Buying Checklist
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Define your budget: Decide how much you're willing to spend based on your financial situation and preferences.
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Understand the 5 Cs: Familiarise yourself with Clarity, Cut, Colour, Carat Weight, and Certification.
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Clarity: Aim for a diamond with at least SI1 clarity.
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Cut: For round diamonds, don't go below a 'Very Good' or 'Good' cut.
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Colour: Choose a diamond of grade H or higher.
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Carat Weight: Choose a carat weight that suits your budget and style preferences.
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Certification: Always buy a certified diamond from a trusted grading laboratory like GIA, AGS, or DCLA.
Enjoy your diamond shopping journey! Remember, knowledge is power, and with this guide, you're well on your way to making an informed diamond purchase.