Diamonds are valuable purchases, but you can save money on buying one by understanding the 4Cs and other value factors. Learn how to choose a diamond that is beautiful and still within your budget with the tips below.  

How is Diamond Quality Determined?
Diamond Cut – Cut is Key
Diamond Color – Can You Tell the Difference?
Diamond Clarity – Don’t Pay More for What You Can’t See
Diamond Carat Weight – Go Just Under
Get a GIA Diamond Grading Report

How is Diamond Quality Determined?

The GIA 4Cs – ColorClarityCut and Carat Weight – are the universal standard for describing the quality of a diamond. Each “C” describes a different aspect of a diamond’s quality and is assessed along a scale using the GIA International Diamond Grading System™. Decide which “Cs” are most important for you and you’ll know where to focus your spending, because quality dramatically affects the price of a diamond.

As you read through the recommendations below, keep in mind that it’s extremely important to view diamonds in person. Diamonds with similar 4Cs grades can look different and diamonds with dissimilar grades can look the same to the naked eye. Only by visually comparing diamonds can you determine the combination of qualities you find most appealing and how best to allocate your money.

The round brilliant cut has been the most popular cut for decades due to its brilliance. It is the only type of cut to be assigned a cut grade. Fancy cuts, such as ovals and hearts, don’t have cut grades, although they are evaluated for symmetry and polish. Courtesy: Brilliant Earth.

Diamond Cut – Cut is Key

If you are like most engagement ring shoppers, you want two things: a diamond with incredible sparkle and the biggest-looking diamond you can afford. If so, spend on a well-cut diamond.

A diamond’s cut quality refers to the skill with which the diamond was manufactured – its overall proportions, the symmetry of its facet arrangement, and the quality of its polish. A well-cut diamond is bright, fiery, and has an attractive pattern. It is well crafted to ensure durability and well proportioned, so you’re not paying for unnecessary carat weight.

A diamond’s cut greatly affects its appearance, as these three round brilliants illustrate.
Diamond cut can make a significant difference in how a diamond looks. The 0.62 ct round brilliant on the left received a Poor cut grade, the 0.81 ct round brilliant in the middle received a Good cut grade, while the 0.73 ct round brilliant on the right received an Excellent cut grade. Photo: Kevin Schumacher/GIA.

A diamond’s cut will affect how big the stone looks. Some stones have been cut to retain the most carat weight, but that weight can be poorly distributed. For example, extra weight can be hidden below the girdle (the widest part of the stone) – so you won’t see it. In fact, a poorly cut 1.20 ct diamond may appear to be the same size as a well-cut 1.00 ct diamond. A poorly cut diamond will look dull and lifeless, no matter its size.

If a diamond is well cut, many compromises in clarity, color and even carat weight can be forgiven.

1.05 carat round brilliant antique diamond engagement ring.
A Very Good cut grade makes this 1.05 ct diamond dance with light. Courtesy: 1stdibs.com

Diamond Color – Can You Tell the Difference?

Do you need to splurge on a diamond in the GIA Colorless range (D, E, or F color)? Probably not. Once it’s set in a ring, it’s less likely that you’ll notice the difference between a diamond in the Colorless range and one that’s in the Near-colorless range (G through J color). As you shop, compare mounted diamonds with different color grades on your hand. You might be surprised at the range of color you find acceptable. You might even prefer (as some do) a diamond that’s a little further down the GIA D-to-Z Color scale (J or K for example) that has some warmth.

Keep in mind, too, that a diamond’s color appearance will be strongly influenced by its surroundings. This includes natural and artificial light, the color of the clothing you’re wearing, and even the color of the metal in which the diamond is set. So, if you’re choosing a white metal like platinum and want to emphasize the diamond’s absence of color, spend your money on a diamond with a color grade of H or better. At about J, K, or L, the contrast between the warm-colored stone and the setting starts to become noticeable if the metal is very white (platinum). If you’re going with yellow or rose gold, the slightly yellowish body color of a diamond with a lower color grade is less noticeable.

GIA diamond masterstone Series (Left to right): E, F, H-I, J-K, K-L, Z.
The more colorless a diamond is, the rarer it is. The rarer it is, the more expensive it will be.
The center stone in this engagement ring is a 3.14 carat K color, VS2 round brilliant diamond, accented by pink diamonds. The rose gold setting helps mask the diamond’s warm color. A platinum or white gold setting, on the other hand, may make the stone look warmer in contrast. Courtesy: 1stdibs.com.
The center stone in this engagement ring is a 3.14 carat K color, VS2 round brilliant diamond, accented by pink diamonds. The rose gold setting helps mask the diamond’s warm color. A platinum or white gold setting, on the other hand, may make the stone look warmer in contrast. Courtesy: 1stdibs.com.

Diamond Clarity – Don’t Pay More for What You Can’t See

Diamond clarity measures how free a diamond is from inclusions and blemishes at 10x magnification. Diamonds with Flawless clarity grades are extremely rare; so rare that some jewelry professionals may go an entire career without encountering one. The good news is that you’re unlikely to be gazing at your diamond under 10x magnification regularly. Diamonds with inclusions can still appear pristine to the unaided eye.

Most diamonds you see will fall within the Very Very Slightly Included (VVS), Very Slightly Included (VS), and Slightly Included (SI) clarity grades. In almost all cases, the clarity features in VVS and VS diamonds and above cannot be seen with the unaided eye. Most SI diamonds will also not have any eye-visible inclusions. This means that an SI2 diamond can look the same as a more expensive, higher-clarity diamond, each of the other 4Cs being equal.

This diamond has G color, VS2 clarity. Large stones, such as this astounding 52 ct diamond, reveal color and clarity more, but this diamond still looks colorless and inclusion-free to most eyes. Courtesy: Christie’s.

You may want to consider spending more on diamond clarity if you’re going with an emerald cut diamond. The long, rectangular facets of the emerald cut make inclusions more easily seen, while the many light-scattering, smaller facets of the brilliant cut can help hide inclusions, especially around points and corners. However, if a diamond has many large clarity features, or if they are mirrored by the diamond’s many facets, they will be easy to see – no matter the shape or cutting style.

15 ct three-stone ring set in platinum
The three gleaming emerald cut diamonds in this ring display an icy beauty because they have high color and clarity grades. Emerald cuts, especially large ones, are more likely to reveal color and clarity characteristics. Courtesy: Rahaminov.
The higher the clarity grade, the rarer the diamond. Diamonds with few or no clarity characteristics are rare, and because rarity drives price, they will cost more.

If you’ve already narrowed your choice to a VVS or VS diamond, but can’t decide, this article explains the difference between the two diamond clarity grades.

Diamond Carat Weight – Go Just Under

Large, high-quality diamonds are rare, and therefore more expensive. Because of their rarity, the increase in price due to carat weight isn’t linear but exponential. A two carat diamond won’t just be twice the price of a one carat diamond, for example. It will cost a lot more.  

Diamonds also become more expensive when they reach or just exceed certain weight thresholds or “magic numbers,” like 0.50 ct, 0.75 ct, 1.00 ct, etc. These numbers have symbolic meaning for some consumers, which translates to greater demand and higher prices. As you shop, be sure to compare these diamonds with those that have carat weights just below the thresholds. If all other 4Cs characteristics are equal, you probably won’t notice the difference in size between, say, a .98 carat diamond and a 1.10 carat diamond, and you’ll be able to realize some savings.

Get a GIA Diamond Grading Report

When you go shopping for a diamond engagement ring, make sure the diamond you’re considering comes with a GIA Diamond Grading Report, which discloses a diamond’s identity (natural or laboratory-grown), its 4Cs of diamond quality, and whether the diamond has been treated to improve its color and/or clarity. GIA is the creator of the 4Cs, and prestigious auction houses, museums, appraisers, and consumers across the globe rely on GIA reports as unbiased evaluations of diamond quality. Since GIA is a nonprofit institute that only grades diamonds (and doesn’t sell them), you can be confident that the information in the report is objective and accurate.

Another consideration in selecting the right diamond for an engagement ring is its overall style, which is largely defined by the shape of the diamond. There are many shapes to choose from. Explore tips on how to pick the perfect diamond shape.