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 if I get a good deal.
Mistake 4 - Online is the best and cheapest place to buy a diamond.
Mistake 5 - Price is the most critical aspect of 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 price differences.
What the diamond seller doesn't tell you gets most diamond buyers in trouble. We encourage you to become educated about the 4 C's because they are essential to the diamond buying process, but only some of them exist. 3 of the 4 C's are straightforward - carat weight, color, and clarity.
Carat weight is easy to verify - weigh the diamond. Color is a bit subjective, but comparing a diamond to a set of master stones allows you to confirm the color. Clarity gets trickier as there are many different types of imperfections (and methods of hiding them), so it's essential 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 may be the most important and misunderstood. In fact, cut is so important that it can affect a diamond's price by up to 50%. A well-cut diamond will reflect all the light that enters the diamond back through the top of the stone. You'll see sparkle, fire, and brilliance when a diamond is cut well. A poorly cut stone allows light to exit the stone through the bottom or sides and has a different beauty than 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. Dozens of grading labs produce grading reports. If the certificate is not a GIA Grading Certificate, then the 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 differences in the grading report can make significant price differences.
"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 are. This translates into a big difference in price and means that the great buy you think you are getting is 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 exist, so be careful! Remember that slight differences in a diamond can significantly impact 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 more significant amount of misinformation that is a mere click away. So please get familiar with the company you are dealing with, its reputation, history, and 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 ensure that we find the best diamond values available for our customers; we buy hundreds of diamonds and have never purchased diamonds off the Internet.
Why? It is the fastest way to make a diamond-buying mistake for our customers and us. A description of a diamond and the actual diamond can be two very different things; subtle differences can make an enormous difference in the beauty and value of a diamond. So even when a diamond appears to be precisely what you are looking for at the price you want to pay, it may not be.
A beautiful diamond almost speaks to us; when you see it in front of you, it is easy to understand why it is the universal symbol of love. There is no substitute for experiencing the diamond firsthand. It would be best to hold, feel, see, and compare diamonds in person to avoid this mistake.
MISTAKE 5
"Price is the most important aspect of buying a diamond" is invalid. Once you've purchased a diamond, someone still needs to set it into your jewelry, help you care for it for a lifetime, and stand behind it should something go wrong.
Too many diamond dealers out there 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 who understands that selling diamonds is only the beginning. So know whom you are dealing with and ensure they are knowledgeable, ethical, and have your best interests at heart.