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Research, Reference, & Jewelry Education
All About Diamonds
Jewelry research and education about diamonds. This includes carat, color, clarity, cut, and cost in a diamond. A must read before you purchase an engagement ring.
Here you will learn about the 5 C's of diamonds-Carat, Color, Clarity, Cut, and Cost.
Carat Weight
The
size of a diamond has the biggest impact on its price. The metric
carat, which equals 0.20 gram, is the standard unit of weight for
diamonds and most other gems. If other factors are equal, the more a
stone weighs, the more valuable it will be.
Here are several ways to express 1 carat:
1 ct.
200 milligrams
1/5 gram
100 points
4 grainer (not often used in retail environment)
It is very important not to mistake carat weight as referring to the dimensions of a diamond. It refers to weight
only. Why the distinction? Because weight can hide in different parts
of the stone. You can have a) well-cut, b) deep, or c) shallow
Diamonds. Some may appear larger than others due to its cut.
Prices of diamonds are expressed in the trade as a price per carat. So when we say that the Carat Weight
has the biggest impact on the price of the stone, we refer to the unit price per carat, not just the overall price of the whole stone.
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Example 1:
Diamond "A" = 0.25 carats and costs $1,000 per carat. $1,000 x 0.25 = $250/stone.
Diamond "B" = 0.50 carats and costs $1,250 per carat. $1,250 x 0.50 = $625/stone.
It
is very common for people to disregard the other C's in favour of
getting the biggest possible stone they have budgeted for. Although SIZE DOES MATTER, it is just as important for the quality
of the stone to be high.
Some
people may feel it is more impressive to wear a 2 carat diamond than a
1 carat diamond. But that's not necessarily true. A Ferrari may not be
as big a car as an Oldsmobile, but most would consider it more
impressive.
How much does "carat weight" affect cost?
The
effect of all the different properties of Diamond on Cost is discussed
in more detail in the Cost section. For carat weight, let's take a
typical Diamond for an example, and see what happens when we take it
through different carat weights.
A
Diamond of G color and SI1 Clarity will be in one Category of prices
when it is between 0.50 - 0.69 carats. When you take that same quality
Diamond and increase the size to the next price category, which is the
0.70 - 0.89 carat range, the price increase will be approximately
$1,100 per carat. Increase to the 0.90 - 0.99 carat range, and the price increase will be approximately another $800 per carat. Increase to
1.00 - 1.49 carat range, and the increase will be approximately another $800 per carat. If you increase to the 1.50 - 1.99 carat range, the price increase will be approximately $1,200 per carat.
Color
The color of a diamond has the second biggest impact on its price, after carat weight. Did you know that diamonds come in every
color of the rainbow?
Grading
color in the normal range involves deciding how closely a stone's
bodycolor approaches colorlessness. Most diamonds have at least a trace
of yellow or brown bodycolor. With the exception of some natural
fancycolors, such as blue, pink, purple, or red, the colorless grade is
the most valuable.
If
a diamond does not have enough color to be called fancy, then it is
graded in a scale of colors ranging from Colorless to Light Yellow, "D"
through "Z". A diamond with a "D" color is considered to be colorless.
If the color is more intense than "Z", it is considered fancy. A fancy
yellow diamond fetches a higher price than a light yellow diamond.
The
Laboratories only grade diamonds which are unmounted, or "loose", and
they do so under special light. Once a loose diamond is mounted on a
ring, even the trained professional cannot always tell the difference
between, say a "D" color and an "E" or "F" color diamond!
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Color
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D
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E
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F
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G
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H
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I
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J
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K
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L
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M
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N
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O
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P
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Q
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R
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S
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T
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U
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V
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W
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X
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Y
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Z
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Fancy
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Scale
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Colorless
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Near Colorless
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Faint Yellow
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Very Light Yellow
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<------Light Yellow------>
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Color
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How much does "color" affect cost?
The
effect of all the different properties of Diamond on Cost is discussed
in more detail in the Cost section. For color, let's take a typical
Diamond for an example, and see what happens when we take it through
different color grades.
Let's
start with a 1.00 carat Diamond of K color and VS1 Clarity. If you move
up to an H color, you will pay approximately an extra $1,700 per carat. Move up to F color, the increase will be approximately $1,100 per carat.
Improve the color to D and the increase will be approximately $900 per carat.
Clarity
The
clarity of a diamond refers to how clear, or "clean" the diamond is.
The more "clean" the diamond, the higher the price. Most diamonds have
"imperfections" in them. The clarity scale is a measure of the severity
of those imperfections or "inclusions" as it is known in the trade.
For
example, a deep break in a diamond which is not that visible when you
look at the stone face-up, could sometimes have a greater impact on the
clarity of a stone, than a small black crystal which you can see very
clearly face-up.
The following is the GIA Diamond clarity-scale:
FL-Flawless
These stones have no imperfections inside or on the outside of the stone under the magnification of a loupe of 10 power.
IF-Internally Flawless
These stones have no inclusions under a loupe with a 10 power magnification.
VVS1,VVS2-Very
Very Slightly Imperfect
These stones have very small inclusions which are very difficult to see under a loupe with a 10 power magnification.
VS1,VS2-Very
Slightly Imperfect
These stones have small inclusions which are slightly difficult to difficult to see under a loupe with a 10 power magnification.
SI1,SI2-Slightly
Imperfect
These
stones have inclusions which are fairly easy to see under a loupe with
a 10 power magnification, or visible to the naked eye.
I1,I2,I3-Imperfect
These stones have inclusions which range from eye visible to very easily seen to the naked eye.
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Clarity
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FL
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IF
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VVS1
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VVS2
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VS1
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VS2
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SI1
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SI2
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I1
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I2
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I3
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Scale
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Flawless-
Internally Flawless
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Very Very Slightly Imperfect
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Very Slightly Imperfect
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Slightly Imperfect
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Imperfect
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SI3
Outside
of the GIA Diamond clarity scale is a grade you may have seen called
SI3. The Rap Sheet, which is a Trade Publication, honors the SI3 grade
which is given out by EGL, the European Gemological Laboratory. It is
described as a split between the SI2 and I1 clarity grade.
How much does "clarity" affect cost?
The
effect of all the different properties of Diamond on Cost is discussed
in more detail in the Cost section. For clarity, let's take a typical
Diamond for an example, and see what happens when we take it through
different clarity grades.
Let's
start with a 1.00 carat Diamond of G color and SI1 Clarity. If you move
up to a VS1, you will pay approximately an extra $1000 per carat. Move up to VVS1, the increase will be approximately $700 per carat. Improve
the clarity to IF and the increase will be approximately $700 per carat.
Cut
The
cut of a Diamond is the only property which is totally dependent on
man. Although often overlooked, cut is actually one of the most
important aspects to consider when choosing your diamond. A Diamond
cutter analyzes the rough diamond, and has to determine how to extract
the most beauty and most profit out of the rough stone.
Cut
refers to not only the shape of the diamonds, but its proportions and
finish, factors which determine the sparkle of the diamond.
It
is possible to take the same stone, and depending on which method the
cutter decides to use, to either cut it into the most beautiful stone
it can be despite heavy weight loss and perhaps lower monetary value.
Or else, he can cut a stone to its maximum weight and monetary value,
but lose some "brilliance" and "sparkle"!
You
see, even if you have two equal polished diamonds, both the same carat
size, both the same color, both the same clarity, they may look
completely different. How? There are many different shapes, and facets
in a diamond. The weight can be distributed in different parts of the
stone.
The
goal in terms of extracting the greatest beauty from a Diamond, is to
have light enter a Diamond, disperse the light as it bounces inside the
Diamond, thereby producing the different colors and sparkly effect, and
finally returning as much light to the eye as possible.
How much does "cut" affect cost?
The
effect of all the different properties of Diamond on Cost is discussed
in more detail in the Cost section. For cut, it can vary depending on
the quality of the Diamond.
Cost
The
most important "C" you have to think about is COST. The few times you
usually hear about cost, it is usually as a "salary guideline" or
"buying tips" which may include "advice" to spend about two months
salary on a diamond engagement ring. Would you like to know where the
idea of two month's salary came from? A marketing person whose job it
is to sell as many Diamonds as possible. The reality is that there's no
"guideline". There are too many personal factors to consider.
You
know your financial situation better than anyone. You have to decide on
a budget for how much you want to spend, and/or can afford to spend,
and then go out and see what that budget can buy.
How much does each "c" affect cost?
Let's take a typical Diamond, and change the various properties to see how it affects the price:
Carat:
A
Diamond of G color and SI1 Clarity will be in one Category of prices
when it is between 0.50 - 0.69 carats. When you take that same quality
Diamond and increase the size to the next price category, which is the
0.70 - 0.89 carat range, the price increase will be approximately
$1,100 per carat. Increase to the 0.90 - 0.99 carat range, and the price increase will be approximately another $800 per carat. Increase to
1.00 - 1.49 carat range, and the increase will be approximately another $800 per carat. Increase the carat weight to the 1.50 - 1.99 carat range, and the price increase will be approximately $1,200 per carat.
Color
Let's
start with a 1.00 carat Diamond of K color and VS1 Clarity. If you move
up to an H color, you will pay approximately an extra $1,700 per carat. Move up to F color, the increase will be approximately $1,100 per carat.
Improve the color to D and the increase will be approximately $900 per carat.
Clarity
Let's
start with a 1.00 carat Diamond of G color and SI1 Clarity. If you move
up to a VS1, you will pay approximately an extra $1000 per carat. Move up to VVS1, the increase will be approximately $700 per carat. Improve
the clarity to IF and the increase will be approximately $700 per carat.
Cut
Cut
is a bit more complicated and depends on various factors, like the
quality of Diamond you are considering. Ideal cuts are generally much
more expensive than the others. But it needs to be judged on a case by
case basis.
Pricing Terminology in the Diamond Business
There
is some confusion as to how pricing works in the Diamond industry. The
price of Loose Diamonds in the wholesale market is stated in Dollars
(Pesos, Dineros, Shekel, Italian Lira...) per Carat. This figure is
multiplied by the number (or fraction) of carats being bought.
Example 1:
Jeweler buys 40 carats worth of Diamonds from Dealer at $2,000.00 per carat =
$2,000 X 40 carats = $80,000 (for 40 carats-worth of stones).
Example 2:
Consumer buys 0.50 carats worth of Diamonds from Jeweler at $3,000.00 per carat =
$3,000 X 0.50 carats = $1,500 (for 1 stone).
Sometimes
Jewelers will quote to retail customers a per carat price or sometimes
they will quote a price per stone. So a 0.50 ct. diamond can be quoted
as $3,000.00 per carat, which comes to 0.50 x $3,000.00 = $1,500.00 for
the diamond, or it can simply stated as $1,500.00 per stone. When
buying a piece of Jewelry which may contain one or more type of gem,
the price will always be per piece.
Total Weight
When
you see T.W., or Total Weight, it will refer to the total carat weight,
per gem type (at least they should and usually do break it down by
gem-type). So a ring with emeralds and sapphires and diamonds could say:
Example 3:
Emerald t.w. = 0.25 cts., Sapphires t.w. = 0.31 cts., Diamonds t.w. = 0.75 cts.
This
refers only to the weight as measured when the gems are loose and
unmounted. It has nothing to do with the number of gems contained in
the Jewelry. The above example could mean there were 5 emeralds, 7
sapphires, 100 diamonds as easily as it could mean that there were 2
emeralds, 2 sapphires and 2 diamonds.
QUICK CARAT COST QUESTION:
Which would be more valuable? 100 diamonds with a t.w. (total weight) of a carat? Or 2 diamonds with t.w. of a carat?
Answer:
2 diamonds! Why? Because Carat, which is the Second C, is more valuable
the bigger it is. 1 Diamond of 1 carat is worth more than 2 Diamonds of
1 carat.
Free Ring Sizer Chart - Sizing your finger or ring for the appropriate ring size
Birthstone Charts - An extensive list of birthstones, including Modern, Traditional, Mystical, Ayurvedic, Zodiac, and
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Be sure to also check out our very extensive Jewelry Dictionary
for your
research needs.
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