Budget and Size

Determine your budget. Your first consideration should be what you can comfortably afford -- not what the diamond industry or a jeweler tells you. Deciding on carat size is about striking a balance between size and quality. If you prefer larger jewelry items, and are working within a budget, you can still find a larger diamond of excellent quality by selecting one graded slightly lower in terms of color and clarity.

Remember slender fingers make small diamonds look bigger. If you have small fingers, a 1-carat diamond will look proportionately large and an even larger stone may appear stunningly big! Think about what sort of setting will hold the diamond. You'll need to be sure the setting you choose is made to fit the carat weight of your diamond.

Grading Reports

A grading report is a "blueprint" of a diamond, it tells you the diamond's exact measurements and weight, as well as the details of its cut and quality. It precisely points out all the individual characteristics of the stone. Grading Reports also serve as proof of the diamond's identity and value. A certificate is not the same thing as an appraisal.

A grading report describes the quality of a diamond, but it does not place a monetary value on the gem. An appraisal places a monetary value on your diamond, but does not certify the quality of the diamond. There are many diamond labs that issue grading reports, but the Gemological Institute of America (GIA) and the American Gem Society Lab (AGSL) are the two most widely regarded and recognized diamond grading labs in the world.

Shopping for diamonds with grading reports allows you to make an informed choice about your selections, and to comparison shop. You can compare one diamond with a particular weight and quality with other diamonds of similar weight and quality to determine which is the better value.