While there may be some gems that in certain sizes are more valuable, diamond is simply the most important and famous of all gemstones. It is easily the best known of all gems, having a long and colorful history throughout the civilized world. Because of its great hardness, for many centuries, diamonds were considered nearly impossible to cut or polish. Even its name derives from the Greek word adamas, which means "invincible". Only after much experimentation were the techniques necessary to polish a diamond developed. For many years this secret was kept among a limited few individuals.
Even comparatively small diamonds with good quality have significant value. Its value derives from three important properties: its hardness; its brilliancy which results from its high index of refraction; and his fire which results from its strong dispersion. Because of its value and durability, the purchase of diamond jewelry has become associated with weddings, anniversaries, and other major milestones.
When making an important diamond purchase, many individuals are confused by the apparent wide range of prices for what seem to be similar stones. The prices of diamond gems are greatly affected by the quality of the stone. It is entirely possible to purchase a one carat loose diamond gem for less than $1000. The quality of such a gem of course, is nothing less than awful. It will have many large visible inclusions, and be badly off-color - perhaps with visible cracks as well. On the other hand, a fine quality diamond of a full carat size may well be priced in excess of $15,000. This huge difference in price between the two is due to the difference in quality.
Understanding The Four C's of buying a Diamond
In order to help the diamond buying public better understand the quality of diamonds and how they are priced, jewelers developed to four C grading system. This system has been taught to the diamond buying consumer for decades. The four C's on which diamonds are rated are the following: Carat weight, color, clarity, and cut.
Carat weight -
The carat weight is the size of the stone. Prices are commonly giver per carat, even when the stones are less than one carat. Prices per carat increase as the stones become larger, as larger stones are rarer. There is a significant price increase at round number carat breaks - so stone of 0.99 carats is notably less costly than a stone of 1.01 carats, even though the buyer may no be able to see the difference.
Diamond color -
The preferred color is white and any increase in coloration results in a less valuable stone. Common pale colors found in diamonds include yellows, browns and grays. Good values can sometimes be found in near white stones that appear white to the eye, but under careful scrutiny are actually very pale colored. Stones with deep color are called fancy colored stones and are more valuable than pale colored stones that are not white or near white. Such light colored stones, mostly from Australia, have been promoted in recent years as "champagne" colored diamonds.
Diamond clarity -
Any flaws within the stone greatly detract from the value. Flaws run the full range from tiny white specs that cannot be seen without magnification, to large black inclusions that severely mar the appearance of the gem. Most diamonds have at least slight inclusions, and better prices can usually be obtained on stones with slight inclusions, but are still so small that they cannot be seen without magnification to assist the human eye.
Cut and Polish -
A diamond needs to be properly cut and polished to show its maximum brilliance and fire. Stones that are cut too deeply or too shallow do not reflect the full amount of sparkle and brilliance. Improper polish also reduces brilliance.
