Yes, diamonds are nice and Elizabeth Taylor knew this better than most. But rubies and sapphires are nice too, but they don’t seem to have the same appeal and image as diamonds.
Well, diamonds are not an ordinary kind of gemstone, they are one of a kind. They are hard, so hard in fact, that they are used in industry as cutting tools, they can’t be scratched, and their brilliance and glitter leave all other precious stones behind.
But when you set out to buy a diamond you have to bear in mind the four Cs - cut, clarity, color and carat weight. Generally a rough stone is cut to provide maximum brilliance but in various shapes from which you may choose. Clarity refers to the clearness of the diamond, as most of them have flaws or inclusions that may not be visible to the naked eye – the higher the clarity, the higher the price. And diamonds come in many colors, such as white, light yellow, dark yellow, blue, green, and pink, but one that is colorless and transparent is the most valued. Carat is the weight of the diamond based on one carat being 0.2 grams
Jewelers use the four Cs when grading diamonds, so you’ll have to understand these terms too to know how a diamond is priced. You can buy a loose diamond and have it set in a ring or other piece of jewelry, or you can buy the finished product. But remember that profit margins on jewelry are sky-high so that buying for investment purposes would be a long-term strategy.
Anyway, a word of advice – buy from a merchant who is willing to give you a buy-back guarantee. This buy-back guarantee, usually at 80-90% of the price you pay, will give you some security in the event that you want to re-sell your diamond in the future.
