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.

What exactly is diamond color? While most people think of the classic, transparent diamond, which happens to be the most rare and valuable, the colors of diamonds actually range from transparent all the way to a brownish color. There are different saturations of diamond color, and tones.

The Gemological Institute of America, known as the GIA for short, is the most commonly used system for evaluating diamond color. They’ve created something known as the “GIA Color Grade Scale”, and it has placed a grading system on the many different colors and shades of diamonds, classifying into 22 letter grades.

How Diamonds are Graded

The Gemological Institute of America has certified diamond color grades as “master color comparison” diamonds. When a diamond is being graded, it is compared against these master color comparison grades, to find the shades that match it most closely. The diamond that is being graded must be thoroughly cleaned and all oil must be removed from the surface before being examined, since even small amounts of dirt or oils on the surface of the diamond can alter the color.

A line of master color comparison diamonds or shade chart is set up, with each grade placed about one inch apart, ranging from the lightest and highest graded D shade, to the darkest, graded Z diamonds. The diamond color that is being graded is moved from the left side of the comparison units to the right, until it matches one of the shades.

Diamond grading should take place in a colorless environment, using a balanced fluorescent light source that has a filtered, cool white sun like ray. The room where the grading takes place is dark, all except for the special grading light, in order to obtain the most accurate grading of the diamond color.

Fluorescence of Diamonds

Yet another consideration when considering the diamond color is diamond fluorescence, and how it will effect the actual appearance in the diamond color. Fluorescence causes some diamonds to change color when viewed in our everyday, ultraviolet lighting, as well as under fluorescent light bulbs.

When a diamond color is graded, the strength of the fluorescence of that diamond must also be indicated. It may be considered to be strong, moderate, or weak fluorescence, and the reports must also indicate what color the diamond will change to due to the fluorescence. The reason for this is when people are in the jewelry store, looking at diamonds in the special lighting of the store, they may all appear to be the colorless, transparent diamonds. When you purchase a diamond and get it home under normal lighting, you could find your diamond is yellowish in color!

You can ask your jeweler to provide grading documentation and information about the fluorescent value of a particular diamond before purchasing, to make sure that you will be happy with the diamond you buy. Many jewelers also can show you the diamond under different lighting conditions, which will enable you to fully appreciate the beauty of the diamond before you buy it. Some individuals like a diamond color with a darker shade, while others are insistent on the transparent diamond color. The diamond color is one of personal preference, so be sure to do a little research before making your final selection.

Other clarity designations are:

IF stands for internally flawless. This means there are no internal flaws or inclusions, although there may be small surface flaws.

VVS1 and VVS2 stand for Very Very Slight inclusions that are difficult to see under magnification. VS1 and VS2 indicate Very Slight inclusions that can be seen under magnification but are invisible to the naked eye.

SI1 and SI2 denote Slight Inclusions that may or may not be visible to the naked eye.

I1, I2 and I3 are “imperfect”, with inclusions clearly visible to the naked eye. For I3, the inclusions impact the brilliance of the diamond and are large and obvious.

In most cases, there is nothing that can be done about flaws or inclusions, although in recent years lasers have been used to enhance some inclusions or fractures in diamonds by filling them in, much the way small dings in a windshield are filled in.

Certainly the most highly valued diamonds are those that are flawless – FL – or internally flawless – IF. But excellent values can be obtained at the VVS and VS grades, as these are flaws not visible to the naked eye, but only to an experienced grader under magnification.

Start by identifying how much you are willing to spend on the jewelry. Start shopping around. Do not immediately settle for the first store that you have seen. Buying second-hand jewelries can also be an option. Compare their price offers. You could also look at different internet sites selling brand-new and second-hand jewelry. But there is some caution that needs to be exercised when buying jewelry online. When shopping online, always read the fine print. There are some websites that offer diamonds in lower prices along with different schemes and gifts.

Whenever you are looking for a diamond jewelry or any other jewelry, timing is important. Most of retailers would give discounts during holiday season, however, whenever you are buying diamond jewelries check if the item you are buying can be returned. Some retailers or companies would offer jewelries in reasonable prices but with a fine print that it cannot be returned.

Before you go ahead and visit any kind of jewelry store, do your homework first. Diamond jewelries on display could be overwhelming. Jewellers would often refer to the 4 Cs: cut, carat, clarity and color. Getting familiar with these 4 Cs would help you get a good deal. Let’s take the cut of the diamond. Cuts could affect the cost of a diamond jewelry. An emerald cut diamond could be less expensive by as much as 30% compared with princess cut diamonds. Buying lower quality cuts could actually cost less.

Color could also help you in getting a better deal. When buying diamond earrings or jewelries, those that are colorless are more expensive. Diamonds would mostly have a touch of yellow and this tint tends to be more affordable, especially on earrings. Although we want clear diamonds, since clarity gives the diamond a different look, small marks would not hurt. Diamonds that have small and few marks tend to be inexpensive. Don’t worry, those marks are difficult to see by the naked eye.

To stay within your budget you could go for less than one carat diamonds. Highlighting or enlarging a small cut diamond depends on the setting. There are ways to make a small diamond appear larger, for example, nestling it on a prong. Another kind of setting that will make the diamond appear larger would be using bezel settings.

If you are after an engagement ring, you could also look at the metal of the ring. There are rings that have white and yellow gold and platinum metal bands. Rings with white gold bands cost less than those with platinum bands. There are also some jewellers who offer discount prices if you will be buying the engagement and wedding rings together.

But if all of these fail to get you within your spending limit, then you could always consider other stones. There are other kinds of stones not as expensive as diamond jewelry but also as beautiful like sapphires, topaz and even rubies or any kind of gemstone. After all, the diamond jewelry is only the expression of what you feel, it still what you feel which matters.

Like any other natural stone, however, diamonds come in several shades of colors that are beautiful in themselves.

So far, there is a good range of colors in diamonds, aside from the in-demand blue and pink. Commercially available now are yellow, orange, green, champagne, grey, black, white, red, purple, chameleon and violet diamonds.

Absence of color and perfection

Among jewelers, the finest diamond stones are those that are totally colorless. They are graded D, meaning they are absolutely free of any color.

Theoretically, a chemically pure and structurally perfect diamond is also perfectly transparent with no color whatsoever. However, a good number of all the diamonds used as gems are imperfect.

A tinge of color

The next group are stones with very slight traces of color which can be seen by a diamond expert. When assembled into a finished jewelry, the color shades of these stones usually cannot be discerned anymore. Still, they are graded as E or F color diamonds.

Down the line, those stones which show very little traces of color are categorized as G or H color diamonds, or perhaps I or J color, depending on the strength of the color seen.

Grading and color

Those stones that are graded between D and F are considered “colorless”. Those that belong in the G to J group are called “near-colorless”. Those within the K to M grading are “slightly colored” and the N to Y stones usually looked like light yellow or brown.

One peculiar twist to the rule – those diamond stones graded Z are also rare and those bright yellow diamonds are priced higher than the ordinary.

The Gemological Institute of America (GIA) had developed the present color rating system for white diamonds (“D” down to “Z”, according to the intensity of the coloration). This has been universally recognized and adapted, overriding the previous older systems.

Fancy

The industry considers diamonds with intense colorations as “fancy”. An intense yellow coloration is regarded as one of the fancy colors and belongs to a different color grading system.

Gemologists have another rating system for fancy colored diamonds that is different from that used in white diamonds. However, this is not commonly used because these stones are relatively rare.

The color seen in the stones either detract or enhance its value, depending on the color itself and the intensity of the coloration. Examples would include the grade Z bright yellow, or an intense pink or blue in the stones, each one of which commands a better price.

Impurities

There are reasons for these colors in the stones. They could be structural defects in the crystal lattice of the stone or it could be a result of some chemical impurities.

Nitrogen is the most common impurity. It sometimes replaces a small proportion of carbon atoms in the diamond causing a yellowish or brownish tone.

Many impurities and structural flaws produce different colorations in the diamonds. Impurities are almost always present in white diamonds. It is not detectable in the rarest stones.

As always, choosing your diamond jewelry always go back to your own prerogatives on the pros and cons of owning either colored or white diamonds.

The most popular cut for a diamond ring today is still the round, brilliant cut. It was developed in the 17th century in Venice. It is still preferred when the raw crystal is in an octahedron formation. Even though as much as 50% of the stone is cut away in the process, often two stones can be carved from an octahedron. More unusually-shaped stones are used for fancy cuts, such as a marquise, pear or heart-shaped diamond. The earliest brilliants had 17 facets on the top of the stone and were called double-cut. This was soon improved with stones cut with 33 facets and were called triple-cut brilliants.

In the 19th century, with the development of better gem-cutting tools, more innovations in diamond cutting styles were developed. In 1919, Marcel Tolkowsky combined the art of cutting with the science of light and refraction and published his book, Diamond Design. These relatively recent geometric calculations were the forerunner of much of diamond cutting work today and led to other, more precise mathematical models engineered to enhance the fire and brilliance of diamonds.

There are now cuts such as the princess cut, trillions, ovals, pear and heart-shaped. Some innovative cutters have even fashioned star or butterfly-shaped diamonds! One patented cut, the Ashoka diamond, is an oblong cut with rounded, brilliant ends, and requires a stone 3 carats or larger. It’s an exceptionally beautiful (and pricey!) diamond shape. Tiffany has also patented a cut of diamond called the Lucida cut. It’s the lucky bride whose fiancé gives her one of these highly coveted stones!

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!

First, only deal with reputable jewelers, and when you find a reputable jeweler, stick with them. Avoid buying diamonds or other jewelry from jewelers that you have never dealt with before in the past. Ask to see the certificate for the stone. If no certificate exists, walk away.

Look at the setting that the stone is in. Fake diamonds, such as zirconias, are usually set in low quality metals. Take a close look at the stone. Fake diamonds are not durable – natural diamonds, on the other hand, are the most durable stone on the planet. Look for scratches or nicks.

After purchasing a diamond, take it to another jeweler for appraisal. In fact, take it to two or three other jewelers for an appraisal to make sure that the appraisals are all fairly close. If you find that you have purchased a fake diamond, you may be accused of making a switch when you return to the store of your purchase; therefore, it is important to have a certificate for the diamond. No two stones are alike.

The color of rose quartz is still not completely understood. It has been said to be due to a number of different minor impurities present in the rose quartz including titanium, manganese and even colloidal gold. However, recent studies using micro-analytical methods have discovered that the color of massive rose quartz is actually due to microscopic mineral fibers in the rose quartz. X-ray diffraction tests on these microscopic fibers yielded patterns similar to the mineral dumortierite, suggesting the possibility of a totally new and as yet unknown fibrous mineral causing the color in massive rose quartz. The rare transparent crystals of rose quartz owe their coloration to aluminum and phosphorous impurities. Their pink color is photosensitive and can fade in sunlight.

Rose quartz is often called the ‘love stone’. It is associated with forgiveness and compassion and can create a wonderful calming influence. It is soft and delicate inspiring feelings of love and friendship. Rose quartz is aid to help remove repressed anger and hatred and is said to remove negative influences such as jealousy and avarice. It is said to aid the spleen, kidneys and circulation system. Rose quartz also eases sexual and emotional imbalance and can also improve fertility. It makes a lovely gift as it is a symbol of love.

Quartz is the most common gem mineral (citrine and amethyst) and ranges at 7 and above. Rubies and sapphires are nearly as hard as diamonds, with a scale of 9 on the Moh’s scale.

People mistakenly think diamonds are indestructible and this is not true! Pliny the Elder in his Natural History stated that “these stones are tested upon the anvil, and will resist the blow to such an extent as to make the iron rebound and the very anvil split asunder.” If you tried that, however, you would more likely shatter the diamond, rather than the anvil!

Many diamonds are cut to prevent accidental nicks, scratches and breaks. Except for the Princess cut, which is a square-cut diamond with pronounced corners, most corners on angular diamonds are rounded. A protruding point of a square or rectangular diamond could inadvertently be knocked against a surface and chip or scratch.

Your diamond should be protected in a soft, velvet-lined case if you’re not wearing it. Have the setting checked periodically and have the stone examined by a professional. Your diamond is not only an investment in money, but an investment in yourself or your relationship and is worth the small amount of extra care it takes to preserve it forever!