The 4 C's of Diamonds

CUT
Refers to the actual angles and proportions of a diamond. Many confuse this with the shape of a diamond. The cut will affect the sparkle, brilliance and fire of a diamond (or how a diamond shines). I would consider this to be the most important factor of the 4 C’s. A diamond that is well cut can be distinguished with the naked eye by comparing the scintillation with that of other diamonds.

COLOR
The most common color of diamonds found in nature is yellow. Therefore, the rarest and most desirable diamonds are colorless. To put it simply,

DEF are colorless, think “Rolls-Royce”
GH are near colorless, think “Mercedes-Benz”
IJ are slight yellow , think "Honda"
KL are yellow, think "Pintos"
M-Z very yellow to brown, you don’t want one of these, unless you are fond of brown stones.

CLARITY
Refers to the inclusions or natural impurities of a diamond. This results from thousands of years of pressure, heat and sedimentation of rocks. The following grading system is based on a standard 10X magnification: FL flawless
IF internally flawless
VVS1 very, very slight inclusions
VVS2 also very, very slight inclusion….but a minute amount more than VVS1
VS1 very slight inclusions, grade 1
VS2 very slight inclusions, grade 2
SI1 slightly included, grade 1
SI2 slightly included, grade 2
I1 included
I2-I3 very, badly included

Generally FL and IF are considered museum pieces; they are extremely rare and valuable. VVS1 and VVS2 are again in the Rolls Royce category. VS1 and VS2, the Mercedes-Benz group, and SI1 and SI2 are more common. I1-I3 are extremely included and are usually visible to the naked eye. Because of the high degree of inclusions, the durability and fire of these diamonds could be jeopardized. If hit, the diamond could crack or cleave along an inclusion.

Clarity is a factor that is really for your own knowledge, since most people cannot look at a diamond and judge its clarity. The difference in price between each class could be a couple hundred dollars to a few thousand, depending on the carat size.

CARAT
This is the actual weight of a diamond. One carat is equivalent to 1/20th of a gram or 100 points equals one carat. Many people confuse this with size. For example, if we compare 3 diamonds weighing one carat each, they may all have different diameters across the top. Even though one may look bigger than the other two, it might not be well cut, and therefore may not sparkle as much as one that is well cut.

CASH OR CREDIT ?
Many stores offer payment plans with no interest for three months to one year on approved credit. Others may offer a layaway plan, whereby the ring is kept by the store until the full payment is made. Because the ring will be one of your first large purchases, check out credit card companies that offer rewards by using their card. You will be amazed at how quickly you will qualify for miles or gifts. If you would like to use cash, the best way is to obtain a certified cheque or a draft from your bank for the total amount. This will bypass any difficulties that may arise with a personal cheque.

JEWELRY STORE OR PAWN SHOP ?
Imagine buying bread…would you prefer freshly baked buns from a specialty bakery or frozen rolls from a convenience store? This is the same thought process I would recommend when choosing a store to buy from. With a reputable, established jewelry firm, you will be ensured of quality and authenticity. They should also guarantee the craftsmanship. With a pawn shop, you may net an incredible deal, but what happens if the goods are fake, stolen, or poorly made?

GRANDMA’S OLD RING?
If you are fortunate enough to inherit an heirloom ring, you should thank your lucky stars. You have just saved yourself perhaps thousands of dollars. If you are afraid your girlfriend will be startled in your tastes of rings, not to worry. Diamonds are a recyclable resource and can be easily re-set into new mounts (rings) from $400 for a simple gold band setting. A semi-mount (mount with side stones) could cost more depending on the number and quality of side (shoulder) stones. By the time the old diamond is set, no one would ever guess that it has been cherished for many years before. Some also prefer to preserve heritage settings by re-tipping claws (to secure the diamonds) and putting on a new shank (bottom of ring that usually wears thin over many years of use). After this and a good steam cleaning, the original splendor is restored.

APPRAISAL
For insurance purposes, it is always a good idea to have an appraisal stating the details and value of your diamond ring. Usually an appraisal and photo would be included with the purchase of a ring. Do some research to find out how much your home insurance policy covers, since most policies cover only a limited dollar value, so extra coverage may be required. Depending on your agents, they usually require an updated appraisal every 4-5 years, since the replacement value of jewelry usually increases over time.