Mistake 1 - When I know about the 4 C's I know everything I need to know about buying a diamond

Mistake 2 - The diamond has a diamond grading report so I know exactly what I am getting

Mistake 3 - It doesn't matter where I buy my diamond as long as I get a good deal

Mistake 4 - The best and cheapest place to buy a diamond is online

Mistake 5 - Price is the most important aspect to buying a diamond

Here's How to Avoid These Mistakes

Mistake 1

"When I know about the 4 C's I know everything I need to know about buying a diamond" - that would be great, but it just isn't so. Subtle differences in quality make dramatic differences in price.

It's what the diamond seller doesn't tell you that gets most diamond buyers in trouble. We encourage you to become educated about the 4 C's because they are very important to the diamond buying process, but it is not everything. 3 of the 4 C's are pretty simple and straightforward - carat weight, color, and clarity. Carat weight is easy to verify - just weigh the diamond. Color is a bit subjective, but comparing a diamond to a set of master stones allows you to verify the color. Clarity gets trickier as there are many different types of imperfections (and methods of hiding them) so it's important to work with an experienced jeweler who will give you sound advice about the type, location and potential risks of each diamond's structure.

The 4th C is Cut and it may be the most important and the most misunderstood. In fact, cut is so important that it can effect the price of a diamond by up to 50%.

A well cut diamond will reflect all the light that enters the diamond back through the top of the stone. When a diamond is cut well, you'll see sparkle, fire, and brilliance. A poorly cut stone allows light to exit the stone through the bottom or sides and does not have the same beauty as a well cut diamond. While a diamond certificate will contain information about the cut of a diamond, there are so many variables that come into play that the only way to verify the quality of the cut is to see the stone in person and experience the characteristics of the stone in different lighting environments.

Simply put, poorly cut diamonds are ugly and are not good buys. Avoid this mistake by doing your homework, learning the 4 C's, and working with a jeweler that you can trust.

Mistake 2

"The diamond has a diamond grading report so I know exactly what I am getting" - here is one of the most important things you can know when buying a diamond... not all diamond grading reports are created equal. There are dozens of grading labs that produce grading reports. If the certificate is not a GIA Grading Certificate, then buyer beware.

Many of the diamond grading reports in the marketplace are not worth the paper they are written on and some are counterfeit. Remember that subtle difference in the grading report can make significant differences in price.

"Sweet Grading" is a real problem in the diamond selling business. Sweet grading means that the color and clarity grades are "sweetened" one grade higher than they actually are. This translates into a big difference in price and means that great buy you think you are getting is actually a very poor buy.

So make sure your diamond grading report is accurate by working with an experienced jeweler that can spot inaccurate or counterfeit grading reports.

Mistake 3

It doesn't matter where I buy my diamond as long as I get a good deal" - where you buy your diamond is every bit as important as the diamond itself. The unfortunate fact is that there are people out there that will take advantage of you by offering deals that are just too good to be true - and they are.

A large number of diamonds that you'll see advertised on the Internet don't actually exist so be careful! Remember that slight differences in a diamond can have a huge impact on its value.

The Internet has brought us a wealth of valuable knowledge that is a mere click away. It has also brought us an equal or greater amount of misinformation that is also a mere click away.

So know the company that you are dealing with, their reputation, their history and their affiliations.

Mistake 4

"The best and cheapest place to buy a diamond is online" - that's not what we've found. We work hard to make sure that we find the best diamond values available for our customers, we buy hundreds of diamonds and we have never purchased diamonds off the Internet.

Why? It is the fastest way to make a diamond buying mistake for us and for our customers. A description of a diamond and the actual diamond can be two very different things and subtle differences can make an enormous difference in the beauty and value of a diamond. So even when a diamond appears to be exactly what you are looking for at the price you want to pay, it may not be.

To avoid this mistake you need to hold, feel, see and compare diamonds in person. There is no substitute for experiencing the diamond first hand. A beautiful diamond almost speaks to us and when you see it in front of you it is easy to understand why it is the universal symbol for love.

Mistake 5

"Price is the most important aspect to buying a diamond" - it's just not true. Once you've purchased a diamond someone still needs to set it into your jewelry, help you care for it during a lifetime, and stand behind it should something go wrong.

There are too many diamond dealers out there that would like nothing more than to sell you a diamond and accept absolutely no responsibility for what might happen after the sale.

Make sure you work with a jeweler that understands that selling the diamond is only the beginning. So know who you are dealing with and make sure they are knowledgeable, ethical and have your best interests at heart.