We wouldn’t hold it against you for scoffing at the title of this one. The idea, after all, is deceptively simple; you walk into your closest jewellers, peruse their loose diamond selection, exchange cash and a few pleasantries, and leave a few thousand pounds lighter and a diamond heavier.
If only it were so simple. But there are perks and pitfalls, risks and rewards in buying a loose diamond which need to be considered before you part company with your money.
First, those perks. We’d all love that unique, one-of-a-kind ring, and the knowledge that no one else in the world has one, right? For the perfect engagement ring, this dream is only fully realised by having one designed specifically to suit your very personal set of preferences and sense of style. If you’ve already seen a design you like, but one aspect of it isn’t entirely to your taste, simply take the elements you love as inspiration and create your own by commissioning a custom designed engagement ring rather than buying it off the shelf.
As such, you’ll need to choose a stone and shape.
Choosing an engagement ring for your partner or yourself is an exciting but intense experience. Once upon a time, diamond shopping, whether for a ring or a loose diamond, was a more simplified affair; the choices were more limited, and the average lovebird looking for a ring was likely to have little to no diamond knowledge. All this led to a liberating but perhaps ill-informed shopping experience.
How times have changed. A huge amount of choice, the rise of diamond guides across the internet, and the publicised technical aspects of quality diamonds can make buying one feel overwhelming.
In truth, the transparency offered by good diamond companies should be of huge value to flustered, flummoxed shoppers, as are the technological leaps made within the diamond industry. That said, a certain amount of rough still exists, and scrupulousness is still crucial to finding a legitimate, value-for-money loose diamond. With that in mind, here’s how to buy the IDEAL loose diamond for an engagement ring.
CHOOSE A LOOSE DIAMOND
Buying a loose diamond may sound like something best left to the experts. In fact, selecting a loose diamond and partnering it with a setting could well be the smartest way to buy an engagement ring.
Viewing loose diamonds allows you to truly scrutinise the quality while simultaneously allowing you a more specific breakdown of the total cost. The process has been streamlined for modern buyers, with loose diamonds and settings sold in one place and the setting process taken care of by the experts. Settings can hide a multitude of sins, and total costs can lead unsuspecting buyers to pay more for lower quality diamonds.
At beginner’s level, it’s essential that you bear in mind the Four C’s when looking to determine quality; Carat, Cut, Color and Clarity, which provide the basis for assessing diamond quality. A brilliantly white diamond, free from inclusions and with serious sparkle is the main objective and an understanding of the Four C’s and diamond grading will get you a step closer to this goal.
DIAMOND CERTIFICATION
The diamond grade is only as reliable as the grading laboratory who has issued it. A diamond certificate (or diamond report) is a detailed document providing the exact quality characteristics of your diamond.
The process of grading a diamond is complex, and thus not all labs are equal. Go for diamonds that carry a GIA (Gemological Institute of America) or AGS (American Gem Society) certification; these labs are renowned the world over for their consistent, reliable grades and their commitment to furthering research in the diamond industry. Choosing a diamond with a top tier certificate will ensure you know exactly what you are paying for.
LOOK FOR DIAMONDS ONLINE
The concept of buying a diamond online was once enough to bring shoppers out in a cold sweat – not anymore. The online diamond market is booming and offers buyers better prices, more variety and a closer, more objective look at the diamonds they are choosing.
Diamond imaging is now extremely advanced, easily surpassing a traditional jeweller’s loupe. Add to this the absence of pushy salespeople and often huge premiums added in-store and you can see why so many savvy shoppers are switching to an online experience.
In fact, there are aspects of online diamond shopping which actually make it easier to verify the quality of a diamond and its supplier. Check out our 5 steps to checking you’re getting the best quality diamonds for more on that.
CONSIDER THE CUT
Once you’ve covered the basics, it’s time to really get into it and find a winning diamond. The best place to start? The cut. Not to be confused with diamond shape (i.e., heart shape, round, or pear…), the diamond cut is the key to unleashing the fire, brilliance and scintillation of the piece.
In simple terms, it is what turns the rough into the sparkling, hypnotic and beautiful gem which so many covet today. The GIA and AGS both give cut grades on their diamond reports, but it is worth going beyond this and gaining just a little understanding of how cut quality is measured. Before you break out in a sweat and invest in a collection of textbooks and tomes, the diamond geniuses have come up with some simple ways to analyse how well the facets of a diamond handle light…
FINDING AN IDEAL CUT DIAMOND
Diamonds with the absolute best cuts are known as Ideal cut diamonds (great name, btw). This is more than a snazzy marketing term, although it has been somewhat co-opted as such. A true, ideal cut diamond will display perfect symmetry and proportions which translate into a dazzling light performance for optimum sparkle.
The Holloway Cut Advisor (HCA) tool allows buyers to reject poorly proportioned diamonds in a few simple clicks, with an Idealscope using a simple coloured reflector and lens technology to quickly show you light return. There are many tools and diamond imaging resources that are user friendly, easy to interpret and will tell you exactly how your diamond is handling the light.
THE BOTTOM LINE
If you’ve got this far, then we’ll assume that you’re ready to drop a serious amount of cash on an engagement ring. Avoid disappointment, go beyond the basics and do your due diligence, and you’ll get the value for money and a gorgeous, durable diamond with it.
For those eager to get the best ideal cut diamond for the best price, take a look at the Ideal cut diamond guide for a definitive look at ideal cut diamonds and how to find them.