Diamonds are very valuable commodities which are evaluated using a universal grading system developed by the GIA (The Gemological Institute of America). The value of each diamond is calculated using four variables – Cut, Colour, Clarity and Carat. Also known as the 4 C’s.
If you are buying a diamond or an engagement ring it is useful to acquaint yourself with these variables which we will discuss in detail here. However we always recommend that you do not get bogged down with these details so firmly that you forget to choose a ring that you like rather than a ring purely for its investment value. At the end of the day an engagement ring is something that you will hopefully wear for life and should be something that symbolizes love and that you want to wear forever.
Cut
Many people make the mistake of thinking that cut refers to the shape of a diamond when in fact it is more to do with the proportions of the diamond, rather than its shape. The cut of a diamond has three attributes: brilliance, fire and scintillation. Brilliance refers to the amount of light reflected from a diamond, fire is the dispersion of light into the colours of the spectrum and scintillation is the sparkle recreated when a diamond is moved. Every diamond regardless of its shape gets its brilliancy, fire and scintillation by cutting and polishing the facets so that the maximum amount of light can enter through the top and subsequently be reflected back out the top again. A poorly cut diamond is one that is cut too shallow or too deep and as a result the light that enters through the top escapes through the bottom or sides resulting in poor brilliance, fire and scintillation.
As for shapes of diamonds, the round brilliant is the most popular diamond used. However there are numerous fancy shapes such as princess, emerald, pear, oval, marquise, heart, cushion and baguette.
Colour
Diamonds actually come in numerous colours such as pink, blue, green and black. These are known as fancy colour diamonds and are rare and expensive. However most diamonds available in jewellery stores are colourless or near-colourless and these are the stones we are most concerned about. The best colour for a diamond is no colour at all as a colourless diamond allows light to pass through easily, so the less colour the higher the value. The GIA’s colour grading scale ranges from the letters D to Z. D represents colourless and Z is light yellow or near-colourless. Colour is often so subtle that it is invisible to the untrained eye. But these differences do make a big difference in diamond quality and price.
Clarity
The clarity of a diamond refers to the number, size, nature and location of inclusions and blemishes in the diamond. These inclusions and blemishes are created when the diamond is formed deep within the earth. Inclusions are internal imperfections and blemishes are external imperfections. The fewer the inclusions, the more beautiful the diamond and therefore the more expensive. Every diamond is unique and none is absolutely perfect though some known as flawless come very close. Very few people will actually have ever seen a flawless diamond as they are so rare and valuable.
The GIA clarity scale consists of 11 grades from F to I3 with F being flawless and I3 being included #3. VVS is very very slightly included, VS is very slightly and SI is slightly included. When buying an engagement ring most people will opt for a diamond between SI2 and VS1.
Carat
Carat is the standard unit of weight for diamonds and other gemstones. One carat equals 0.20 grams. One carat is divided into 100 points, so for example a 20 point diamond is equal to 0.20 carats. As the carat weight of a diamond increases so does its rarity and thus its value. So if you were to buy two 0.50 carat diamonds, you would pay less than if you were just to buy one 1.00 carat diamond, as the 1.00 carat diamond is rarer. But it must be emphasised that two diamonds of the same carat can have very different values as the end value will depend on the other four C’s of clarity, colour and cut.
We hope this information is useful. But at the end of the day, always purchase diamonds from reputable jewellers and then you can be certain of the quality and source of your diamonds. Then you do not need to worry about the quality of the stone, you just need to decide how much you can afford to spend and what you fall in love with.
