Diamond Buying Guide

Posted on Wednesday, January 24th, 2024 in Diamond, Guides.


Diamonds are considered by many to be the most beautiful gemstone in the world. They’re exquisite, durable, and make a statement unlike any other gem. Whether you’re looking for a diamond engagement ring or another piece of diamond jewelry, you’re going to want to find the best possible diamond within your price range. Here’s everything you should do when looking to purchase a diamond.

  1. Set a budget. Diamonds can range anywhere in price from under a hundred dollars to millions of dollars. That’s why it’s a good idea to set aside a specific amount of money that you feel comfortable spending on a diamond. We know just how tempting it can be to get that larger, whiter, cleaner diamond. By setting a budget, you know what you can afford and won’t be tempted into purchasing something that you’ll have to spend years paying off. If the diamond you had your eye on is out of your budget, we recommend selecting a diamond you feel comfortable purchasing now and then potentially upgrading that diamond later on down the road when you have more money at your disposal.
  2. Decide between lab-created or natural diamonds. Both lab-created and natural diamonds have the same chemical composition and physical appearance. They’re just created differently. Lab-created diamonds are man-made in a controlled setting and natural diamonds are created by nature below the Earth’s surface. In addition to their method of creation, the other major difference between lab-created and natural diamonds is their price. Lab-created diamonds are a fraction of the cost of  natural diamonds.
  3. Educate yourself. It’s a good idea to familiarize yourself with the four quality factors that go into determining the value of a diamond. A diamond’s color, cut, clarity, and carat weight all affect its value, so we highly recommend either doing some research on the GIA website or visiting with a local jeweler who will be able to tell you everything you need to know about the 4 C’s. Doing so will ensure you make an informed decision about your diamond purchase while also allowing you to figure out which quality factors are the most important to you.
  4. Work with a diamond buying expert. While a basic understanding of the 4 C’s is a good starting point for learning more about a diamond’s value, there’s so much more that goes into each of these quality factors. For instance, are the facets arranged in a symmetrical way? How is the weight distributed throughout the diamond? Are the inclusions located in a less-than-ideal location? These are just some of the questions a diamond buying expert will ask when considering a certain diamond. These experts have years of experience working with diamonds and can tell you which ones have the best value and which ones should be left alone.
  5. Compare diamonds in person. Without being able to compare two or more diamonds at the same time, you may end up with a diamond you don’t actually want. A grading certificate only tells you the characteristics of a diamond. It doesn’t tell you what the diamond looks like. So two diamonds that have the same cut, clarity, carat weight, and color may actually look very different. That’s why we always recommend seeing diamonds in person before purchasing one. It also helps to see what the diamond will look like in its setting, so that you can have a better idea of whether or not that diamond complements the setting you selected.
  6. Select a diamond weighing just under a certain threshold. Diamonds become more expensive when they reach certain weight thresholds, like 0.50 carat, 0.75 carat, 1 carat, 1.5 carat, 2 carats, etc. There’s greater demand for these diamonds, thus they tend to be more expensive. You’re much more likely to find a better deal on a diamond that weighs .98 carats compared to one that weights 1 carat even though their size might look virtually the same.
  7. Buy from a jewelry store you trust. You’re going to want to purchase that diamond from a jewelry store that has a good reputation, one that offers repair and maintenance services, has access to a large variety of diamonds, and can educate and guide you into selecting a diamond you can be proud of.

For more information on purchasing a diamond or beginning the diamond buying process, contact Kloiber Jewelers at 414-276-2457 or info@kloiberjewelers.com.