Loose GIA Certified Diamonds: Buy Online Cheap

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A diamond's shape, weight, Cut, clarity, color, certification, and fluorescence are all crucial factors to consider when buying a diamond. As such, we have provided a summary of key insights buyers should consider under these critical factors.

Factor 1: Diamond Shape

The "shape" is how the diamond looks, and the "cut" refers to the quality of the craftsmanship while cutting a diamond into a particular shape, e.g., a round cut or an oval cut. A diamond's shape impacts its price because certain shapes might require larger unpolished stones. For example, a round shaped diamond is 20-30% more expensive than a princess cut or cushion cut diamond.

It could take a 2 carat rough diamond to cut a perfect 1 carat round brilliant cut. In comparison, it might take a 1.5 carat rough diamond to cut a princess cut diamond [a round 1 carat diamond is usually 6.5mm in diameter, and a 1 carat princess cut is roughly 5.5mm]. As a result of the size difference, round cut diamonds are priced higher than other shapes

Factor 2: Diamond Carat Weight

After determining the shape of a diamond, the next step is to learn about the carat weight of a diamond. Typically, a diamond is weighed in carats, and each carat is 200 milligrams or 0.2 grams. The price of a diamond increases significantly as it reaches a full carat. Once a diamond reaches the 2 or carat range, the price is multiplied by many times because larger stones are rare and, therefore, more expensive. For instance, if all other factors are considered equal, a 2 carat diamond will cost three to four times the price of a 1 carat diamond. This is because a 2 carat diamond is more scarce or rare to mine than a 1 carat diamond.

Tip: If you want to save money, buying a 1.9 carat diamond may be less expensive than a full 2 carat diamond. The price jumps significantly once the diamond reaches a full carat range.

Factor 3: Diamond Cut

The cut of a diamond is essential because it is the only C determined by a cutter and not nature. The cut of a diamond is complex, and several factors must be considered while evaluating a diamond's cut quality. GIA only assigns a cut grade to round diamonds and does not yet have a standard grading system for fancy cut stones such as a princess cut.

The good news is that we have published detailed articles about each shape and how to assess its cut. For example, check our guide on oval cut diamonds.

Tip 1: Even among GIA excellent cut round diamonds, there is a way to differentiate between an excellent cut diamond and what we refer to as an "ideal supercut" diamond. The best way to distinguish between them is by thoroughly analyzing the cut proportions of the diamond (read our article on ideal cut proportions).

Tip 2: In both round and fancy cut diamonds, the depth and table are the most important factors in determining the quality of the cut, followed by the size of the girdle, culet, crown angle, and pavilion. Length-to-width ratios are also important in fancy shape stones.

Tip 3: Dealers tend to cut a diamond deep to save the original rough stone. It is best to avoid a diamond with a large depth. A large table is also not recommended because it will lack optimal fire and brilliance.

Factor 4: Diamond Color

Color is the second most important C in diamonds after cut, as it affects the whole body of a stone, not a particular spot, as is often the case with clarity.

Color refers to a yellowish hue or tint in a white diamond and is graded from grade D (colorless) to grade Z (light yellow). D to F color grades are considered colorless, G to J are near colorless (however, there is a big difference between G and J color), K to M grades are faint yellow, N to R are very light yellow, and S to Z grades are light yellow.

Tip: We recommend D, E, F, and G as excellent color ranges. H and I diamonds are also excellent budget options. J is our lowest recommendation unless some yellowish tint is preferred in a diamond.

Factor 5: Diamond Clarity

The clarity of a diamond is important because it directly affects its brilliance. If a diamond is full of inclusions, the stone will not sparkle and will lack luster, fire, and scintillation.

The diamond industry has developed a sophisticated system for grading a diamond's clarity, with Flawless (FL) being the highest grade and Included 3 (I3) being the lowest grade.

FL and IF (Internally Flawless) are excellent grades. Very Very Slightly Included 1 (VVS1) and Very Slightly Included 2 (VVS2) are almost flawless clarity grades. VS1 and VS2 are after VVS2 and are often considered eye-clean diamonds. Slightly Included 1 (SI1) and Slightly Included 2 (SI2) are at the lower end of high-quality diamonds and are close to being eye-clean in diamonds under 1 carat. Included 1 (I1) and Included 3 (I3) are the lowest clarity grades.

Tip: FL, IF, and VVS/VS1 are excellent premium-grade diamonds. VS2 is a good option to consider while prioritizing quality and budget. SI1 and SI2 need extensive due diligence in the above-one-carat diamonds to avoid inclusions that might affect a diamond's brilliance.

Factor 6: Diamond Fluorescence

Fluorescence is an invisible glow that a diamond emits when exposed to ultraviolet rays. It ranges from None to Very Strong Blue, with Faint, Medium, and Strong Blue being the other ranges.

According to a GIA study, the appearance of around 10% of diamonds was negatively affected among all diamonds that emitted fluorescence. Fluorescence can negatively influence the price of a diamond by up to 25%.

In summary, fluorescence can be a helpful factor for buyers on a tight budget. It can make H or lower color grade diamonds look whiter because fluorescence is often blue, a complementary color to yellow.

Tip: Fluorescence can be a plus in H and lower color grade diamonds. However, no fluorescence is always much better in higher color grades such as D to G. If you go with fluorescence in D to G colors, ensure a valid return policy if the diamond is among the 10% of stones badly affected by fluorescence.

Factor 7: Diamond Certification

While it is commonly referred to as "diamond certification," within the diamond industry, we refer to the "certificates" as grading reports. Among the many labs that offer grading services, the best lab is GIA (the Gemological Institute of America), a non-profit organization dedicated to educating customers about diamonds and other gemstones.

Tip: We strongly encourage shoppers to buy a diamond with a GIA grading report to avoid getting riffed off. If a dealer offers a good deal on a stone graded by a bogus lab or not graded at all, there is a strong reason to be concerned.

A balanced approach to buying diamonds is recommended, which entails prioritizing the best of all 4Cs and fluorescence in a diamond within a given budget range. While carat weight is important, the quality of the cut should always be prioritized. Color and clarity are also important factors.

A balanced approach implies that buying a well cut 2 carat diamond with higher clarity and color grade might be a better option than buying a 3 carat SI2, J color diamond.

Four Scenarios to Consider

Buyers often pick one of the following four scenarios when prioritizing the 4Cs.

• Best Quality Scenario: Buy a diamond in the investment grade range that is very high in all four Cs.
• Best Value Scenario: Buy a high-quality diamond that is also big. For example, excellent cut GIA graded round diamonds in the 2 carat range, E-G color, VVS/VS clarity, and no fluorescence hold excellent value if bought at the right price.
• Best Carat Weight Scenario: Buy a budget option that is still eye-clean, such as a diamond with H/I color and SI1 clarity. 
• Best Budget Scenario: Compromise on color and buy a big diamond with high clarity and a great cut. A good example would be a 2 carat diamond with a L color, VVS2 clarity, and ideal cut. 

In short, no one-size-fits-all approach can be applied to diamonds because they are natural wonders, each unique with its own characteristics.

In addition to the 4Cs, buyers should pay attention to the following key elements in a GIA grading report:

Measurements: This shows the surface size of the diamond (how big the diamond is).

Proportions: An exact calculation of the diamond's cut quality. See our recommended ideal cut proportions for reference.

Fluorescence: More like the 5th C that should not be ignored.

Comments: It will show if the diamond is enhanced or treated and offer other important details.

Clarity Plot: An exact outline of where the inclusions in a diamond are located and their types (it helps avoid bad inclusions and ones located right on the table at the center of the diamond).

Watch the HD Video of this Diamond.

The diamond industry has evolved and changed significantly over the last two decades due to technological developments. While traditional brick-and-mortar retailers are unhappy about how the trade has evolved, the change significantly favors consumers.

How? Online competition and the standardization of the diamond grading system have brought transparency into the industry. In addition, there was no universal standard for grading diamonds, and now the industry has established a universal language and grading system, famously known as the 4Cs.

Before these developments, buyers were at the mercy of local dealers for price and quality verification. However, now buyers can easily review diamond prices on three to four websites to determine a competitive price range. For example, a buyer can easily establish a competitive price for a 1 carat round diamond with G color and VSS clarity and an excellent cut with no fluorescence.

As far as grading is concerned, as long as a stone is graded or "certified" by GIA, there is no reason to be concerned if the stone is actually what it should be because GIA is one of the most consistent grading labs in the world.

Petra Gems regularly analyzes diamond prices and provides a comprehensive average estimation in our index. These prices fluctuate monthly, and we update our index as soon as a significant fluctuation is observed.

Besides the above quality factors, several other factors influence diamond prices, including market demand, supply, and macroeconomic conditions. The availability and supply of rough diamonds from large diamond companies, like De Beers and Alrosa, as well as trade regulations on import and export, are also primary factors.

Based on this guide's insights, buyers should be able to confidently select a GIA certified diamond at a competitive price within a given budget range. Moreover, buyers will appreciate the importance of buying a GIA graded diamond. In conclusion, we advise buyers to educate themselves on the basics of the 4Cs and other quality factors discussed in this guide and compare diamond prices on multiple websites before making a final decision on a substantial purchase.