It is generally accepted that when shopping for a diamond, you should take four major things into consideration. These four things are called "the four C's" and consist of color, carat, clarity and cut. Each quality is important to consider if you are concerned about the value and beauty of the diamond you will be purchasing. All four qualities help to determine how nice a diamond looks to the eye as well as the value of a diamond on the retail market.
This article is copyrighted by Rachel Sanfordlyn Shreckengast of GetFrugal.com and WedFrugal.com
Color

The color you want to look for in a diamond is no color. The less color contained in a diamond, the more it is worth. A colorless diamond is extremely clear and you can "see through it" quite easily. Most diamond engagement rings have a yellowish cast to them and aren't worth as much as diamonds with no color. In many cases, you can place a colorless diamond next to a diamond with a yellowish cast and easily tell the difference. It's another reason I suggest shopping for a ring over a number of months. It will give you enough time to be able to tell the difference in color between stones and allow you to choose a better stone color...or at least be able to tell the difference. Stone colors are graded and the grading starts with the letter D, which indicates a stone with a better color. See below for a small chart that will help you tell (by grading) what color a stone is. Be aware that you will occasionally find a stone graded F/G (like my diamond) or something similar. All this means is that the color is between the two gradings.
This article is copyrighted by Rachel Sanfordlyn Shreckengast of GetFrugal.com and WedFrugal.com
D = completely colorless
D to F = the most colorless of stones, it's difficult to tell that these stones are not colorless.
G to J = nearly colorless stones, a slight yellow cast
K to N = faint yellow stone
N to R = very light yellow stone
S to Z = light yellow stones, in some cases jewelers pass these off as "champagne diamonds" so that they can charge more for them.

Carat

Carats are simply the weight of a stone, and reflect the size of the stone as a result. In my opinion, this is the least important of the four C's. The exception to this is when you can afford to buy a huge stone which is completely colorless, has a great cut and has amazing clarity. Of course, very few people in this world can afford such a stone. Those who can afford such a stone likely wouldn't buy one anyways because very few diamonds retain or increase their value. The exception to this is stones that are famous for one reason or another or are absolutely perfect examples of their specimen. So why does the myth that "size matters" prevail? It started with advertising that the buying public believed hook, line and sinker. It then evolved into such myths as "if it's under a carat, don't wear it", friends and family providing comments such as "but, it's so little" and asking questions such as "is that all he could afford?". Let me point out that the size of a diamond does not determine it's worth, nor does it determine how much you love your partner. It's a truly ridiculous assumption. As far as determining size (or carat weight), it's pretty easy as long as you understand fractions. Below, you will find a small sample that you should give you an idea of how to determine weight.
This article is copyrighted by Rachel Sanfordlyn Shreckengast of GetFrugal.com and WedFrugal.com
.25 (point two five) carats is 1/4 carat and is also called 25 points
.50 (point five zero) carats is 1/2 carat and is also called 50 points
1.0 (one) carats is 1 (one) full carat and is also called 100 points

Another thing to consider is the weight of each stone. When a jeweler says "the center stone is...", he/she means the weight of that one stone. When he/she mentions TCW (total carat weight), CWT (carat weight total), TWC (total weight of carats) he/she means that all of the stones are a certain weight. A one carat stone is worth more than lots of little stones totalling the same weight. Be sure to remember this as you should not pay the same amount for these two very seperate things. Also, be sure to ask what the weight of each particular stone is, how many stones are in the ring AND what the four C's are for each particular stone.

Clarity

Clarity refers to how clear a diamond is. The clearer a diamond is, the more it will be worth. A diamond that is flawless has very few inclusions. Inclusions are natural impurities that are found in a stone such as a diamond. All diamonds contain inclusions (basically they are from the Earth, and therefore have impurities) but some inclusions are worse than others. Some inclusions are visible to the naked eye, while some inclusions are only visible if you view the diamond under magnification. The standard magnification for determining the clarity of a diamond is 10X (or 10 times normal magnification). If you can't see inclusions in a diamond under 10X magnification, the diamond is considered flawless (or extremely clear). Clarity is important because it allows the full spectrum of colors and light to pass through the stone. This quality is what gives you the "fire" of a diamond and what really makes it sparkle. This is one of the hardest qualities to determine on your own, which is why certification for a stone is a good idea. Below, you will find gradings for the quality of clarity, which are self-explanatory. This article is copyrighted by Rachel Sanfordlyn Shreckengast of GetFrugal.com and WedFrugal.com
FL and IF = flawless, no inclusions at 10X magnification

VVS1 and VVS2 = very very slight inclusions

VS1 and VS2 = very slight inclusions
This article is copyrighted by Rachel Sanfordlyn Shreckengast of GetFrugal.com and WedFrugal.com
SI1 and SI2 = slight inclusions

I1, I2 and I3 = imperfect stones with visible inclusions that are usually visible to the naked eye

Cut

Perhaps the most confusing quality to explain is the cut of a diamond. The shape of the stone is related to the cut in the sense that there is an optimal cut for each shape. It is related to the clarity of a diamond in the sense that a good cut makes the clarity of a diamond more apparent. It is related to the "fire" or sparkle of a diamond in the sense that a good cut will bounce the light around better and cause more fire or sparkle to be apparent in the stone. The cut is not the shape, but it instead produces the best shape. The cut is also important because a wrong cut can split on it's cleavage. Certain cuts can make a stone appear larger and can also make the shape of the stone appear larger. Cut also can make a diamond appear clearer and make it appear as if it has more clarity (it doesn't, it's just that the cut makes the other qualities more apparent). It's important that you remember that only one thing is truly important (in regards to the purchase) with cut. Buy something that looks nice and that your partner loves. Each facet of a diamond (and each stone shape for that matter) has different cuts (percentages) that make it wonderful and it depends on proportion as well. It would be quite a bit to explain it in full in one article and nearly impossible in one paragraph. As a result, I am instead including links where you can find more information on this quality.
This article is copyrighted by Rachel Sanfordlyn Shreckengast of GetFrugal.com and WedFrugal.com
Cut Quality - This cut guide goes into details that help you understand why cut is important and they have numerous diagrams that show you optimal cuts.

Grading a Diamond's Cut - A detailed guide to diamond cuts that explains thoroughly and in simple language so that most people should be able to better understand why cut is important.

Pages In This Article: Pg 1: Preferences, Pg 2: Metals, Pg 3: The Four C's, Pg 4: Diamond Advertising Myths, Pg 5: Further Diamond Buying Resources

Best Wishes,
Rachel Sanfordlyn Shreckengast
06302002