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Cost is not necessarily the most important factor in determining the quality of a diamond, but it definitely is an important and confusing aspect. However, there are no specific published guidelines available to the public for buying a diamond wholesale.
In order to clarify this confusing aspect of cost there are three factors that are important:
| A.
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The Source. Is the source you are considering buying from a direct source - importer or wholesaler? Do they own their inventory? Do they sell enough volume to justify low margins? |
| B. |
The Diamond Report. This report and price sheet is the industry-wide standard for diamond costing. This report also includes news on the industry and how it could impact diamond prices. Cutters and dealers all over the world use this report to trade diamonds. The price can vary according to certain premium sizes, colors, and shapes. This monthly publication of wholesale prices is not available to the general public, but is an important factor in determining the true market values. The best analogy for this report is the "Black Book" used when purchasing an automobile. |
| C. |
Certification. Determining the exact quality of a diamond is critical to its value. Improper grading could dramatically affect the perceived value. It is important that an independent gemological laboratory grade and identify your diamond. This laboratory should maintain the highest standards for grading and should have no financial interest in the diamond. There are currently four internationally recognized laboratories and many local independant gem labs that are qualified to issue these reports:
· GIA - Gemological Institute of America
· EGL - European Gemological Laboratory
· IGI - International Gemological Institute
· AGS - American Gemological Society
· Independent Gem Lab
These laboratories are known and respected for their research and education. The scientific grading report provided by these laboratories examines the 4 C's: Cut, Color, Clarity, and Carat weight. Official certifications are a protection of your investment. |
A carat is the universal measure of weight for a diamond. It is the easiest of the 4Cs to determine. Large diamonds are found relatively infrequently in nature, which put them at the rarest level of the Diamond Quality Pyramid. For example, fewer than one percent of women will own a diamond weighing one or more carats.
Clarity is an indication of a diamond's purity. In all diamonds, except the most rare, tiny traces of minerals, gasses or other elements were trapped inside during the crystallization process. These impurities are called inclusions, but are more like birthmarks. It is tiny crystals, clouds, or feathers that make each diamond different and unique. Many of these birthmarks are not visible to the naked eye. The clarity of a diamond is graded by how many, how big and how visible the inclusions are. The fewer and smaller the inclusions, the more rare and valuable the diamond. Less than 1% of all diamonds ever found have had no inclusions.
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Official GIA Clarity Grading Scale |
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Examples show by a trained eye at 10x magnification. |
GIA |
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Flawless
Internally Flawless |
No internal or external characters
Only minor surface blemishes |
FL
IF |
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VVS1
VVS2 |
Extremely difficult to locate inclusions
Very, very small inclusions |
VVS1
VVS2 |
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VS1
VS2 |
Minor characteristics difficult to locate
Very small inclusions |
VS1
VS2 |
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SI1
SI2 |
Noticeable small inclusions
Easily noticed small inclusions |
SI1
SI2 |
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Included 1
Included 2 |
Eye-visible inclusions
Obvious eye-visible inclusions |
11
12 |
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All examples based on the grading procedures of the Gemological Institute of America. |
Less than 1% of all diamonds ever found have had no inclusions and can be called flawless (FL) or internally flawless (IF). Obviously then, the larger more visible and frequently occurring the inclusions, the lower the grade and the less rare the diamond. Diamonds with inclusions visible to the naked eye are graded I1 to I3.
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GIA |
D |
E |
F |
G |
H |
I |
J |
K |
L |
M |
N |
O |
P |
Q |
R |
S |
T |
U |
V |
W |
X |
Y |
Z |
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Colorless |
Near Colorless |
Faint Yellow |
Very Light Yellow |
Light Yellow |
While many diamonds appear colorless, or white, they may actually have subtle yellow or brown tones that can be detected when comparing diamonds side by side. Diamonds were formed under intense heat and pressure, and traces of other elements may have been incorporated into their atomic structure accounting for the variances in color. Diamond color grades start at D and continue through the alphabet. Truly colorless stones, graded D, are extremely rare and very valuable. The closer a diamond is to being colorless, the rarer and more valuable it is. A single change in color grade can significantly affect a diamond's value. Although the presence of color makes a diamond less rare and valuable, some diamonds come out of the ground in vivid "fancy" colors - well-defined reds, blues, pinks, greens and bright yellows. These are highly prized and extremely rare.
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While nature determines a diamond's color, clarity, and carat weight, the hand of a master craftsman is needed to release its fire and beauty. The cut gives each diamond its unique sparkle and brilliance by allowing the maximum amount of light to enter and reflect back out of the diamond.
If the cut is too deep or too shallow (as illustrated above) light will spill through the side or bottom and be lost, resulting in a less brilliant display and a less valuable diamond. The cut plays a big part in determining the value of a diamond. A well-cut diamond will be considerably more beautiful and valuable than a poorly cut stone of the same size, clarity and color. |
