Buying diamonds is not at all easy. This is because diamonds are graded using sophisticated measures, and various factors are considered before valuing a particular diamond. Plus, the diamond industry attracts scammers and rip-offs who leave no stone un turned in getting people to buy for way more than the diamond is actually worth.
However, don’t lose heart. There is something that you – the buyer – can do to get the best value diamonds at the least price.
Get started early on
Buying diamonds is not going to be a walk in the park, especially not if you want to get a good deal. After all, you’ll be parting with your money – lots of it – to buy something for a special occasion. So, make sure that you begin early in your quest for finding the diamonds of the highest quality cost-effectively.
You wouldn’t want to leave it to the last minute, then buy it in a hurry only to find out later that you paid way too much for something that’ not good enough.
There’s no substitute for educating yourself about diamonds by doing research and talking with the ‘right’ people – individuals who have made a purchase or who understand the diamond industry inside out. Look online for help. Approach people who have bought diamonds recently. Visit diamond retailers and just listen to what they have to say. This will give you a good idea and help you get started.
Avoid branded/designer diamonds
It about time you start thinking beyond Tiffany and Cartier.
Note that brand names do not guarantee you that the diamond you purchase will be of premium quality, but they do charge you quite a lot for simply buying a diamond with their name on it.
Paying for a brand name is absolutely meaningless. So, it is highly recommended that you don’t get caught up in the hype and buy designer diamonds.
Use the Weight Classes to your benefit
One thing that you need to know is that diamonds are priced per carat, and the price of the diamonds increases as the weight increase. Note that this increase is not linear.
Now what this means is that a 0.95-carat diamond will be considerably cheaper than a 1-carat diamond, a 1.95-carat diamond will be significantly less expensive than a 2-carat diamond, and so on.
Hence, you should always smartly choose the weight of the diamond in order to reduce costs.
Clarity and Shape
Contrary to popular belief, diamonds are not perfect and absolutely clear since they have inclusions within them. Now, as a buyer, you don’t need to buy a crystal clear diamond. All you need to do is purchase one that doesn’t have inclusions that are visible to the naked eye. This alone will save you plenty of money.
About the diamond shape, it is recommended that you buy the princess cut, cushion cut, and oval instead of round diamonds. This is primarily because round diamonds are way more expensive on average than other shapes.
Compare and Never Settle
Always compare the diamonds that you have narrowed down with several others in both online marketplaces as well as brick and mortar stores.
Get a second opinion, a third, and a fourth one as well. This is because prices depend on evaluations of specific individuals at each shop – online or offline. You’ll be surprised to see the wide range of prices for diamonds with somewhat similar stats. Hence, there is always a chance that you can get a better bang for the buck.
Don’t assume that if you are buying color diamonds online, then you are indeed getting the best deal or if you are purchasing from a wholesaler than you will be able to buy the best value diamonds for the least price.