We’ve compiled a list of tips to help you choose a diamond that doesn’t break your budget.
The 4C’s of a diamond are the standards we grade diamonds on. Cut, Color, Clarity and Carat weight, are all characteristics of a diamond and the most relevant in terms of determining what you’re looking for when setting a budget.
Carat
If you’re looking to buy a 1 carat diamond “Buy Shy” and consider a 0.97 carat stone. Most people wouldn’t be able to tell the difference, but your wallet will appreciate the noticeable difference.
Should that not be in your budget (yet) consider recreating a similar look with a large quantity of smaller diamonds that have a pavé (clustered) setting.
Color
All colorless diamonds range from D – Z. Fancy colored diamonds (Yellow, Pink, Blue) are graded on a separate scale. For “colorless” diamonds consider a G – J colored stone, they are nearly colorless and significantly less expensive than a D – F.
D is considered rare and top of the line making them more expensive.
E – I look nearly colorless, as you go down the color spectrum, so does the price.
J - ... you can see a slight yellow/gray/brown hue and the diamonds are lower in price.
Keep in mind that diamonds are graded by people, who could have made a mistake, so I would suggest always checking the diamond yourself.
Clarity
Opt for a diamond with minor flaws, small inclusions (SI) to very very small inclusions (VVS). These flaws are not/barely noticeable to the naked eye and would require a Loupe (microscope).
If your budget only allows for a diamond with a more prominent flaw, try looking for one where the flaw is near the setting/prong, if so, your jeweler will likely be able to hide it.
Cut
Unofficially Cut is the most important C as it determines how well the light is able to shine through and reflect to maximize the diamonds brilliance. This is the one C where I would definitely not go for lesser quality.
Shape
Does the diamond have to be Round or Princess cut? Consider other shapes, they could save you between 20 – 50%.
If you've got your heart set on a Round cut, consider an oval or cushion cut.
| Shape | Weight | Color | Clarity |
Price |
|---|---|---|---|---|
| Round | 1 Ct. | D | VS1 |
$9,000 |
| Oval | 1 Ct. | D | VS1 |
$6,500 |
| Round | 0,50 Ct. | D | VS1 |
$1,700 |
| Oval | 0,50 Ct. | D | VS1 |
$1,350 |
Fluorescence
One of the characteristics of fluorescence is that it makes diamonds appear a bit whiter. Basically you could buy a diamond with a lower color grade (and save money) and the same diamond could have fluorescence (again save money).
Metals
The type of metal definitely factors in here. Platinum is the most expensive but also the highest quality, whilst white gold is more affordable but has a similar look. Although some believe Silver is fine too, which it is, I would recommend investing a little more for white gold as it is more durable.
Setting
Choose a prong (secures the diamond like a tripod above the band) setting instead of a bezel (a metal ring that encircles the sides of the gemstone to hold it in place) as less metal means it costs less too.
Online vs Brick & Mortar
This is where we leave it up to you, but your best bet is to compare prices. The most important thing to consider here is the reputation of the place you’re about to make a purchase from (online or instore).
If you feel like the “deal” you’re getting is too good to be true… it probably is, so stay safe and GOOGLE before you buy! I’m sure there’s a yelp review out there that will be able to guide you.
Buy during the low season
Gift giving season is from thanksgiving (November) to Mother’s Day (March), avoid buying jewelry during that time. June to August are considered the ‘low’ season for jewelers so you’re likely to find a better deal at that time, but if you do enough research, you can find a “deal” at any time.
Alternatives
If a diamond is not possible (right now) consider the following alternatives:
- a grow diamond*, a diamond you buy now with the intention of upgrading within a certain timeframe (2 years)
- Moissante
- Lab grown diamond
- Colored diamonds
- Colored gemstones like Rubies, Sapphires, Tanzanite etc.
- Repurpose heirloom diamonds
- Cubic Zirconia
* Check with your local jeweller to see if they offer such a service.
All summed up:
- Scale down on Color and Clarity but NOT on Cut
- If you’re going for a larger diamond, get something slightly lower than the full carat
- Consider all shapes as you could save up to 50% on something less traditional
- Consider a lower colored diamond with fluorescence
- Metals like white gold are a good alternative to Platinum
- Research online and in-store before making a final decision
- Consider alternatives