THE 4C'S -- YOUR GUIDE TO DIAMOND QUALITY AND VALUE
Quality is pivotal when determining a diamond's price. While a high-quality, 1 carat diamond costs about $6,000 to $10,000 these days, a flawed stone of the same size is worth one-third to one-quarter as much. For the average consumer, it's tough to know the difference - and that could mean paying thousands of dollars too much.
How do you know whether a diamond is worth the price? Here's a guide to everything you ever wanted to know about buying a diamond - but didn't know to ask.
A diamond is judged by four distinct factors that combine to arrive at its value: Cut, Color, Clarity and Carat Weight. While carat weight is easily determined by putting a diamond on a scale, the other factors are both subtle and subjective. However, consumers who are buying relatively large stones - near or more than 1 carat - should know that there are a handful of laboratories that issue reports on individual stones. If you are buying a large stone, the jeweler is likely to have such a report on any diamond you are considering - if it doesn't, it should be willing to get one.
These reports are valuable on two counts. First, they give the lab analyst's seasoned opinion of the quality factors - the "four Cs" - that affect the diamond's price. They also provide a "fingerprint" of your diamond. A good jeweler should be able to trace that fingerprint for you - from report to stone - so you know you are getting precisely the diamond you are paying for. Moreover, if your diamond is ever lost or stolen, the report can prove pivotal in getting adequate reimbursement from your insurance company.
These are called the 4C's.
CARAT WEIGHT
As with all precious stones, the weight of a diamond is expressed in carats. The word carat originated in a natural unit of weight: the seeds of the carob tree. Diamonds were originally weighed against these seeds until the system was standardized and one carat was fixed at 0.2 grams (one fifth of a gram).
One carat is divided into 100 "points" so that a diamond of 25 points is described as a quarter of a carat or 0.25 carats. A diamond's weight is rarely misrepresented, but what few buyers realize is that they pay a premium when they go beyond certain threshold weights. For instance, jumping from 49 points to 50 points - an exact half-carat - can cost you about 20% more even though you probably couldn't tell the difference between the two stones without a scale.
CLARITY
- FL Loupe Clean (Flawless)
- IF - Loupe Clean (Internally Flawless - minor surface blemishes)
- VVS1-VVS2 (very, very small inclusions)
- VS1-VS2 (very small inclusions)
- Sl1-Sl2-SI3 (small inclusions)
- I1-I2-I3 (inclusions visible to the naked eye)
Almost all diamonds contain minute traces of non-crystallized carbon or small non-diamond crystals. Most are not discernible to the naked eye and require magnification to become visible. Called inclusions, they are nature's finger print and make every diamond unique. However, the fewer there are, the rarer the stone will be.
Clarity, therefore, is the term that is used to indicate the extent to which the diamond you purchase is free of these natural phenomena.
Diamonds are given "clarity" ratings that gauge the inclusions. An IF rating indicates a stone that is considered flawless, while the more common designations of VVS1 and VVS2, VS1 and VS2 indicate that the diamond has flaws or "inclusions," but small ones that require a trained eye - and often a jeweler's magnifying glass - to notice. Diamonds, rated SI1, SI2, or SI3, have flaws that can easily be spotted with the aid of a jewelers loupe. Diamonds rated I1 or I2 have inclusions that can be easily spotted by the naked eye. They are also vastly less valuable than more perfect diamonds.
At present, a stone is termed flawless by the GIA if it is without surface characteristics or internal inclusions.
COLOR
It sometimes surprises people to learn that diamonds can cover the entire spectrum of colors. The majority, however, range from those with a barely perceptible yellow or brownish tint, to those that are very rare and are described as colorless.
Rare stones of exceptional color - green, red, blue, pink or amber are known as fancies.
A diamond's color is given a letter grade from D to Z, with D being the best and Z the worst. These color variations are subtle, to say the least. Grades ranging from D to F are all considered "colorless" - the most valuable - , grades G-J are considered near colorless, while letters further down the alphabet indicate the diamond is taking on a yellow hue. That can have a massive impact on the price.
CUT
Of all the 4C's, cut is the one most directly influenced by humans. The other three are dictated by nature. The cut or make of a diamond will dramatically influence its fire and sparkle, for it is the polisher's skill that releases its beauty.
It is the cut that enables a diamond to make the best use of light. When a diamond is cut to good proportions, light is reflected from one facet to another and then dispersed through the crown or top of the stone. If the cut of the diamond is too deep, some light escapes through the opposite side of the pavillion or bottom. If the cut is too shallow, light escapes through the pavillion or bottom before it can be reflected.
The cut of a diamond will provide a good portion of the"fire" or sparkle. When cut properly, light bounces off the facets at the bottom back up toward your eye. While diamond experts quibble over the exact dimensions that make a cut ideal, they agree that if a diamond is cut too deep or too shallow, light will escape, leaving the diamond less brilliant.
Still, if you do cut a diamond too long or wide, it will weigh more. Because carat weight is one aspect of a diamond's value that most consumers do understand, the retailer may charge more for a less-valuable stone.