Buying an engagement ring

You know they sparkle. You know they are every girl's best friend. But what makes diamonds so valuable? Diamonds are the hardest natural substance known to mankind. That, along with their brilliance and fire, have made diamonds the quintessential symbol of timeless, enduring love.

The simplest of all the gemstones, diamond consists of 99.95% pure crystallized carbon. A diamond begins to crystallize far beneath the earth's surface among a mixture of liquids, gases, and crystals. Diamonds can, in fact, be from 1 to 3 billion years old--more than two-thirds the age of the earth itself.

In 1477 AD, Archduke Maximilian of Austria presented a diamond ring to Mary of Burgundy as a sign of their engagement. He put it on the third finger of her left hand, the finger believed by ancient Egyptians to have a vein that led directly to the heart. She accepted his proposal and the diamond engagement ring was born.


Shape she loves

You need to consider when choosing a diamond is its shape. Although ‘shape’ and ‘cut’ are sometimes used interchangeably, they are not the same. There are eight popular shapes into which diamonds are crafted:

Round Brilliant - the most classic cut

Marquise - an elongated brilliant-cut stone with a point on each end

Princess - typically a four-sided square to slightly rectangular brilliant cut

Radiant - typically a slightly rectangular to square diamond

Emerald - a traditional octagonal cut usually rectangular

Asscher - often referred to as a “square emerald cut,” this stone is step-cut and square, with cropped corners

Pear - combines the brilliance and form of a round stone with the elongated elegance of a marquise

Oval - reminiscent of the round brilliant cut, both in sparkle and shape

Heart - more fanciful cut, shaped just as it sounds



Color

The diamond color grading system uses the letters of the alphabet from D through Z, with ‘D’ being the most colorless and therefore the rarest and most valuable, and ‘Z’ having the most color within the normal range, and being the least valuable, all other factors being equal.

Although they can be measured when mounted in jewelry, diamonds are most accurately weighed when they are not mounted in a setting. In fact, gemological laboratories such as the Gemological Institute of America (GIA) and American Gemological Society (AGS) will only grade diamonds that are unmounted. A diamond grading report will tell you the exact carat weight, to the nearest hundredth of a carat, for that particular diamond. Each Carat is divided into 100 parts called 'points.' So a 1-carat diamond has 100 points, a ¾ carat has 75 points, etc. Points in a fraction of one carat are measured within ranges, so that a ¾ carat diamond may have between .69 and .82 points and still be considered a ¾ carat. Here's a table of size and weight ranges:

Carat Fractions and Their Decimal Equivalents:

Fraction Decimal Equivalent
1/10 = .09 - .11
1/8 = .12 - .13
1/7 = .14 - .15
1/6 = .16 - .17
1/5 = .18 - .22
1/4 = .23 - .28
1/3 = .29 - .36
3/8 = .37 - .44
1/2 = .45 - .58
5/8 = .59 - .68
3/4 = .69 - .82
7/8 = .83 - .94
1.0 = .95 - 1.05
Remember, all diamonds are not created equal. Two diamonds of equal Carat Weight may vary substantially in price due to their Cut, Color and Clarity. Also, a diamond's weight can be 'hidden' in different parts of the stone. For example, you can have a well-cut diamond, whose weight is distributed properly, a diamond that is cut too shallow to make it wider and heavier, but not the most brilliant, or one that is cut too deeply, to add weight to the bottom of the stone - again compromising its ability to radiate maximum brilliance. Visit Cut for more information.

In a few words
Diamonds are valued on a per-carat basis. For example, a diamond of exceptionally high quality may sell for $20,000 per carat, while one of lesser quality may sell for $1,000 per carat. So, a three-carat stone could be $60,000 or $3,000, depending on its per-carat price. Diamond values also increase disproportionately as the size of the stone increases. In other words, a two-carat stone will not necessarily cost twice per carat than a one-carat stone. It could cost much more, since diamonds are rarer in larger sizes. As you take a stone of a particular cut, clarity and color and move its carat weight to the next price category, you may see quite a large increase in the price per carat. Remember that size isn't everything. When choosing a diamond, all 4Cs must be taken into account. The key is to strike a balance among them, while still working within your budget.