There are some industry-secret details concerning diamond prices, which jewelers do not want consumers to know. Here are some things you must know to obtain the best stone for your money.
- Quality or 4Cs: The cut, color, clarity and carat of a diamond are the four factors that mainly determine its price. The more colorless and flawless the stone, the higher will be its price. So save yourself some money on a diamond by choosing a lower clarity and color grade. An untrained eye cannot usually see these characteristics of the stone, especially when their grades are lower. You only need a diamond which looks white and have no inclusions visible to the eye. We suggest VS2 clarity grade and H color as the optimum combination of factors for you.
- Certification: It is very important that you buy a certified diamond. At the very least, ensure your diamond has the features which its jeweler claims it to have. This brings us to the next important point to consider when buying a diamond.
- Where to Purchase: The amount added by the jeweler to its cost price to cover their overhead costs is called markup. That amount has the main effect on the pricing of a diamond. The same quality gemstone can be priced several times higher and be sold at that price. Big-name jewelers and popular mall jewelry shops have high markups. Such stores have to pay lots of overhead, so these expenses are passed onto the end customer.
To avoid paying a high markup price, we suggest shopping from an online store. Online jewelers do not have that much overhead cost, so they can set a lower price for diamonds. They also have lab-made diamonds to sell at as much as 40% lower price than their natural counterparts. Some Beverly Diamonds BBB reviews say this jeweler’s prices are attractive.
Some Tips for Saving Money on Diamond
- Diamonds weighing a round carat mark, like 0.50 or 1.00 ct, cost higher than the ones weighing shy below that.
- If you are after a particular weight and you do not mind an alternative setting to solitaire, then go for a multi-stone setting. For instance, if you want a 1 carat diamond ring, choose a halo setting whose diamonds weigh around that.
- Round brilliant diamonds are the most sparkly and most expensive. Consider an alternative shape or cut for a more modern, yet more affordable ring.