Buying a diamond can be a very confusing affair, and hence, you could make mistakes very easily. Therefore, it is important to know a few fundamentals about the price determination of diamonds before you go ahead and purchase them. Below are a few facts about diamonds that could be useful when you purchase a diamond.
The Certification of the Diamond
Certification is an absolute must if you want to be sure that the claims about a diamond are true. So, see if the diamond dealer provides you with a certificate from an approved issuing authority. The two of the most trustworthy authorities in the US are the GIA and the AGS.
The Quality of the Diamond
Getting a certified diamond is only the first step in ensuring that you get a diamond worth its value. To understand this, you need to know about the various qualities that are crucial to a diamond. For instance, consider the 4 C’s of the diamond. Learn about each of these qualities, and see what the certificate says about them. Additionally, understand which combination of these parameters work the best.
The Pricing of the Diamond
Having the basic knowledge about the diamond industry will help you find a diamond worth every penny spent on it. Direct experience of dealing with the diamond stores will help you with this. However, remember that online stores are always cheaper than the local retail stores.
The Carat of the Diamond
Diamonds are priced per carat. However, note that the diamond prices per carat increases as the weight category increases. To be precise, the diamond prices increase exponentially with weight. This is because of two factors: first, the increase in weight, and second, the rise in per carat price.
Note that the prices also increase according to the rise in carat categories. This could be a sudden rise at times. For instance, consider a 0.99 carat diamond. This may be 1% costlier than the 0.98 carat diamond. However, a 1 carat diamond will cost you 20% higher price than the 0.98 carat stone.
The Cut of the Diamond
From the above example, it is clear that the carat has a huge impact. Similarly, as the cut is made, there is an effort to keep the carat at the highest. This way, sometimes the rougher diamonds are made with higher weight to increase their prices. Hence, you need to examine the quality carefully before purchasing the diamond.
If you want to buy loose diamonds cheap, you need to approach a trusted dealer who will provide you with all the authentic information.