Diamond Buying Mistakes

Only Shopping for Pre-Set Diamonds (Consider a Loose Stone)

Upon walking into a jewelry store, it is easy to become overwhelmed with the quantity and variety of diamonds. Most of the diamond jewelry available at these locations is pre-set, meaning the stone is already placed in the setting. Many times, pre-set diamonds have significant inclusions (imperfections) and less-than-excellent cuts. In contrast, when buying a loose diamond, you have complete control over all the characteristics and can often find a much higher quality diamond than what is available in pre-set jewelry. Given that the cut is the most influential factor impacting a diamond’s appearance and ability to properly reflect light, it is worth investing in an excellent cut stone.

Paying for the Highest Color and Clarity

As already mentioned, the diamond cut is the characteristic that you should emphasize most. While color and clarity influence the diamond’s appearance, as you move up the scale closer to colorless and flawless, the changes between grades become less and less obvious. The diamond color scale ranges from “D” to “Z.” A rating of D is colorless, while a rating of Z has a light color/tint. While the difference between the extremes on the spectrum is obvious, the difference between a D and an F will be almost imperceptible to most. Similarly, the difference between an H and a J is minor. As such, if price is a factor in your diamond purchase, which it will be for almost every buyer, then you can lower the cost by going with a slightly lower color. Additionally, if the diamond is being mounted in a yellow gold setting, the color rating can be lower than a stone mounted in a white gold or platinum setting. Since the yellow gold already has a golden tint, a stone with a slight tint will not have a significant impact.

Similar to color, a few grade differences in clarity will not have a significant impact on the appearance of the diamond. Diamonds range from FL (flawless) to I3 (included). Generally, you will want to avoid I1 to I3, as these stones have inclusions visible to the naked eye. As such, they will negatively impact the appearance of your diamond and be apparent under normal observation. SI1 to SI2 are slightly included; the imperfections are visible under 10x magnification but not to the naked eye. Consequently, simply moving from an I1 to an SI2 will greatly enhance the stone’s beauty. Ironically, much of the pre-set diamond jewelry available from chain jewelry stores is within the included range (I1-I3). Therefore, avoiding the first diamond-buying mistake (only shopping for pre-set diamond jewelry) will ensure you find a stone without visible inclusions. SI1 and SI2 will generally provide the best value, as they are a significant step above I-rated stones but not as expensive as very slightly included diamonds. If you are willing to spend a little more, very slightly included diamonds (VS1 and VS2) are beautiful. Purchasing anything above VS1 will be primarily based on personal preference, rather than appearance, as the change between high-grade stones is much less significant than the changes on the low end of the clarity scale.

Not Shopping Around

When shopping for a diamond or diamond jewelry, the available selections are essentially limitless. As such, utilize the tools at your disposal to find the best diamond at the best price. Large online repositories are available that will allow you to sort through thousands of diamonds in a relatively short amount of time. Blue Nile and James Allen both have substantial inventories with 360-degree views of the available diamonds. As a result, not only can you sort by characteristics, but you can see the exact stone you are considering. While diamond characteristics are a great starting point, nothing beats seeing the diamond.

When it comes to buying diamonds, Signet Jewelers owns the majority of the chain jewelry stores. As such, it is sometimes possible to order a loose stone you find in another jeweler's repository. While some stores have diamond inventories listed online, they are usually not comprehensive, and the store associates can access a larger database. For example, this is the case with Jared. You can find quite a few loose diamonds listed on Jared’s shopping portal, but the options accessible from the in-store database are significantly more comprehensive.

Forgetting Jewelry Maintenance

In all the excitement of shopping for a new diamond ring or a pair of diamond earrings, it is easy to focus strictly on the beauty of the jewelry and the associated price tag. However, it is important to consider the lifetime maintenance of the jewelry. Different types of jewelry require varying degrees of maintenance based on their placement and exposure to abuse. For example, earrings have much less contact with foreign surfaces than rings. Our hands are constantly busy, meaning rings are more likely to get scratched and come into contact with cleaning agents. Additionally, as we progress through life, our bodies change; rings may get tighter or looser over time and need to be resized. The cost of routine maintenance and significant repairs will add up over time; therefore, planning for the future now will save money in the long run.

While purchasing a jewelry plan is not necessary in all cases, after considering the type of jewelry you are purchasing, such as an engagement ring, you will have a better idea of how much wear and tear it will be exposed to. In the case of engagement rings and wedding rings, they are typically worn daily, which means a jewelry maintenance plan will be more beneficial for these items than for a bracelet that is only worn on special occasions. Similarly, consider the location from which the jewelry was purchased. Can the location perform jewelry repairs in-house, or will the jewelry need to be shipped to a repair facility? Is it a local jeweler or a chain? If you have to relocate for work, school, or family, will you be able to utilize the jewelry maintenance plan at your new location? These are questions to consider when choosing where to buy a diamond.

Conclusion

Buying a diamond is a big decision. For most, this is a significant and uncommon purchase. As such, it is easy to be overwhelmed with various diamond characteristics, maintenance plans, and warranties. However, understanding a few basic principles will allow you to buy a beautiful diamond without overspending. To obtain the best value diamond, consider purchasing loose stones, avoid overpaying for color or clarity that will not have a noticeable impact on the stone’s appearance, shop around to find the perfect diamond, and consider what maintenance your jewelry will need. Considering these factors now will facilitate your diamond-buying experience, ensure you get a stone you love, and help prevent buyer’s remorse. Stay informed and you will be able to find the diamond of your dreams.