take Audrey's brief Diamond Information Tour

Budget - how much can afford to invest

Quality - the 4Cs

Finding a Quality Jeweller

Buying Check List

Tricks and Traps to Avoid

Reference and Technical Information

Canadian Diamonds

Conflict Diamonds

Marriage Proposal Information

Victim of jewellery fraud?

Budget

Buying a diamond means investing in a piece of forever.  A true miracle of nature dating from the beginning of time, each diamond purchase is special.

Every individual buying a diamond seeks out the best they can afford. Nature's variety means that you will always find a diamond to suit your taste, budget and occasion.  If you're about to buy a diamond engagement ring, you may want to consider the often-quoted guideline of spending one to two months' salary.

You can rest assured that the diamond you buy will be a sound financial investment.  Their rare qualities have been sought after for thousands of years.  Their desirability and value remain undiminished today and will continue through the years to come.

Whatever you spend, your diamond will represent one of life's deepest emotional investments.  It may eventually be passed down for generations, cherished not just for what it is worth, but for what it means.

Diamonds are forever and their value usually appreciates over time. Consider the diamond's significance.  For example a wedding dress is worn once, the engagement ring, every day for the rest of her life.


the 4Cs

Many people are confused about how diamonds are priced.  The best explanation is that asking for the price of a diamond is like asking for the price of a house.

A real estate agent can't quote you a price for a house without knowing its size, condition, location, etc. 

This process is the same when buying a diamond.  A diamond's beauty, rarity, and price depend on the interplay of all the 4Cs - cut, clarity, carat, and colour.

The 4Cs are used throughout the world to classify the rarity of diamonds.  Diamonds with the combination of the highest 4C ratings are more rare and, consequently, more expensive.  No one C is more important than another in terms of beauty and it is important to note that each of the 4Cs will not diminish in value over time.

Once you have established those 4C characteristics that are most important to you, a jeweller can then begin to show you various options with quoted prices.

Diamond origin has recently become very important in the industry.  No one wants to own a conflict diamond. 
Canadian diamonds are now available in the marketplace.


Carat

Refers to the weight of a diamond.

Carat is often confused with size even though it is actually a measure of weight. One carat is weighs 200 milligrams (one fifth of a gram). One carat can also be divided into 100 'points.'  A 0.75-carat diamond is the same as a 75 point or 3/4 carat diamond.

A one-carat diamond costs exactly double the price of a half-carat diamond, right?  Wrong!

Larger diamonds are found less frequently in nature.  Larger diamonds are rarer.  A one-carat diamond will cost much more than two a 1/2-carat diamond, assuming colour, clarity and cut remain constant.

The cut and mounting can make a diamond appear larger or smaller than its actual weight.  So shop around and talk to your jeweller to find the right diamond and setting to optimize the beauty of your stone.


Clarity

Refers to the presence of inclusions in a diamond.

Every diamond is unique.  Nature ensures that each diamond is as individual as the person who wears it.  Naturally occurring features know as 'inclusions' provide a special fingerprint within the stone.

Inclusions are natural identifying characteristics such as minerals or fractures, appearing while diamonds are formed in the earth. They may look like tiny crystals, clouds or feathers.

To view inclusions, jewellers use a magnifying loupe or microscope. These tools allow jewellers to see a diamond at 10x its actual size so the inclusions are easier to see. 

The position of inclusions can affect the value of a diamond.  There are very, very few flawless diamonds found in nature, thus these diamonds are much more valuable.

Inclusions are ranked on a scale of perfection, known as clarity, which was established by the Gemological Institute of America (GIA).  The clarity scale, ranging from F (Flawless) to Included (I), is based on the visibility of inclusions at a magnification of 10x.

Sometimes a mounting can hide some inclusions, thus having little effect on the beauty of a diamond. An inclusion in the middle or top of a diamond could impact the dispersion of light, sometimes making the diamond less brilliant.

The greater a diamond's clarity, the more brilliant, valuable and rare it is.


Colour

Refers to the degree to which a diamond is colourless.

Diamonds are found in almost every colour of the rainbow, but white coloured diamonds remain most popular.

Diamonds are graded on a colour scale established by the Gemological Institute of America (GIA) which ranges from D (colourless) to Z.

Warmer coloured diamonds (J-Z) are particularly desirable when set in yellow gold.  Icy winter whites (D-I) look stunning set in white gold or platinum.

Colour differences are very subtle and it is very difficult to see the difference between, say, an E and a G. 
Therefore, colours are graded under controlled lighting conditions and are compared
to a master set of laboratory graded colours for accuracy.

Truly colourless stones, graded D, treasured for their rarity, are highest on the colour scale.  Colour ultimately comes down to personal taste.  Which colour is better is up to you - we can just tell you which grade is more expensive, not which is better.  Ask a jeweller to show you a variety of colour grades next to one another to help you determine your colour preference.


Cut

Refers to the angles and proportions of a diamond.

Nature determines so much about a diamond, but it takes a master cutter to reveal the stone's true brilliance, fire and ultimate beauty.

Based on scientific formulas, a well-cut diamond will internally reflect light from one mirror-like facet to another and disperse and reflect it through the top of the stone.

You may hear the terms; 'Hearts and Arrows', 'Hearts of Fire' etc, these are just fancy marketing names for diamonds who have excellent cuts.
 
 

The result is a display of brilliance and fire, thereby placing well-cut diamonds higher on the diamond quality pyramid than deep or shallow-cut diamonds.  Diamonds that are cut too deep or too shallow lose or leak light through the side or bottom, resulting in less brilliance and ultimately, value.

Cut also refers to shape - round, square, pear, marquise, or heart for example.  Since a round diamond is symmetrical and capable of reflecting nearly all the light that enters, it is the most brilliant of all diamond shapes and follows specific proportional guidelines.


Finding a Quality Jeweller

the 5th C is Confidence

A good jeweller is an essential step to a smart diamond purchase.  To find a jeweller you can trust, ask your family and friends for recommendations.

Your jeweller should be knowledgeable about diamonds, have sufficient inventory to present you with options and be ethical and trustworthy.


Checklist

things to determine about the jeweller:

1.  Is the jeweller a member of:

Canadian Jewellers Association
Better Business Bureau
Canadian Code of Diamond Conduct

2.  What is the refund-return policy?  Is it in writing?

3.  What is the warranty on the diamond and setting?  Is it in writing?

4.  How can I be sure the diamond is the quality the jeweller claims it be?

5.  Does the diamond come with independent laboratory certification EGL, IGL, GemScan or GIA?

6.  What is the origin of the diamond? 
How can I be sure what the origin of the diamond is and that it isn't a 'blood diamond?'

7.  Is ring sizing and a gemologist's insurance appraisal included in the price?

8.  Separate prices so you can comparison shop.  What is the price of the diamond and what is the price of the setting?

9.  What will be done if she doesn't like the ring setting?

10.  How long does ring sizing or alterations take and who does them?

11.  What is the future trade up policy on the diamond?  Is it in writing?

12.  Does the bill of sale specify, all the characteristics you've been told about the diamond?

13.  Has this diamond been artificially treated or enhanced?



Tricks and Traps to Avoid

I found a diamond ring at half the appraised price!
Inflated appraisals plague the jewellery industry.  If anyone presents you an appraisal of value during the sales process - be wary.  Such an appraisal was usually produced by the seller of the diamond or someone in their employ.

Usually these appraisals are grossly inflated in order to trick you into believing you are getting a great bargain.  Do not be fooled by this scam often used by pawn shops or exchanges. 

Any appraisal even an honest one, provides a recommendation of insurance, not what the diamond can or should be purchased for today.  Comparison shop!


They said this diamond is SI clarity and G-I colour
These are both a range of quality.  For a larger diamond there is a huge price difference between SI1 and SI2 clarity or G and I colour and larger diamonds are not graded in ranges.


How can I sure the diamond is of the quality they say it is?
You cannot be sure, unless the diamond comes with an independent laboratory report.  Diamond grading is subjective.  Misrepresentation of diamond quality is rampant.

Major diamonds should come with an independent laboratory report giving its weight, clarity, colour and cut grades.  Accepted labs are EGL, IGL, GemScan and GIA.


Found a ring on a half price sale?
Oh sure.  Diamonds and precious metals have cash value on the international market.  The variance in prices is what the item cost the seller to purchase or manufacture, and what the profit margin of the seller is.

There are no 'used' diamonds.  Diamonds don't depreciate or wear out.  Comparison shop!


Found a bargain diamond on the Internet in Texas?
Misrepresentation is rampant online as it is in regular stores - be very cautious.

If buying jewellery internationally you will be charged Federal Excise Tax and GST and possibly duty and customs fees and brokerage fees.

Check with Canada Customs to see what's involved if importing the jewellery from outside Canada.

When currency exchange, taxes, duties, shipping and insurance are factored in, that bargain often, now doesn't look that good.

Returns and remedies through the mail are difficult, even more so when dealing outside our borders.


Okay what then is the answer?

comparison shop

deal with reputable jewellers

believe certificates from credible laboratories


Reference and Technical Questions


Clarity Grades

FL:  Flawless -- no internal or external inclusions of any kind visible under 10x magnification to a trained eye

IF:  Internally Flawless -- no internal inclusions visible under 10x magnification to a trained eye, but there may be some tiny external irregularities in the finish

VVS-1:  Very Very Slightly Included 1 -- usually just one tiny inclusion visible only to a trained eye under 10x magnification

VVS-2:  Very Very Slightly Included 2 -- tiny inclusions visible only to a trained eye under 10x magnification

VS-1:  Very Slightly Included 1 -- very small inclusions only visible with 10x magnification

VS-2:  Very Slightly Included 2 -- several very small inclusions visible with 10x magnification

SI-1:  Slightly Included 1 -- small inclusions visible with 10x magnification

SI-2:  Slightly Included 2 -- several small inclusions visible with 10x magnification

SI-3:  Slightly Included 3 -- inclusions that may be visible to the naked eye for a trained observer

I-1:  Included 1 -- minor flaws that may be visible to the naked eye

I-2:  Included 2 -- many flaws clearly visible to the naked eye that also decrease the brilliance

I-3:  Included 3 -- many flaws clearly visible to the naked eye which decrease the brilliance and compromise the structure of the diamond, making it more easily cracked or chipped


Color Grades

colour scale ranges from D - absolutely colourless to Z which shows a yellow overtone

the base colour of diamonds is usually yellow but brown and green is also common 

very unusual extreme colours are graded as Z+

colourless  D - E - F

near colourless  G - H - I - J

very faint yellow  K - L - M

faint yellow  N - O - P - Q - R

light yellow  S - T - U - V - W - T - Y - Z


Technical Information

Colours:  Colourless, Yellow, Orange, Brown, and Black

Extremely rare colours:  Red, Blue, Green, and Purple

Chemical composition:  C - carbon

Crystal Structure:  Cubic - isometric

Hardness:  10 Mohs scale

Specific Gravity: 3.52

Refractive Index:  2.42 - singly refractive

Dispersion: .044

Fluorescence:  Photoluminescence - a natural occurrence of some diamonds, the emission of a visible glow stimulated by invisible wavelengths of ultra violet.  Diamonds can fluoresce any colour; the most common colour is blue.