A diamond has long been loved as the ultimate symbol of lasting love because of it’s purity and ageless beauty.

As a buyer of diamonds for engagement rings, whether past, present or future, one may wonder why there is such variation in price from store to store. What characteristics constitute a $5,000 diamond versus one that costs only $500?

The physical weight of a diamond is referred to as its “carat”. The value of a diamond is directly proportional to its size. The larger the diamond, the more valuable it is, because larger diamonds are less common. Greater size makes the diamond more spectacular, and therefore increases the purchase price.

Price is not solely determined based on the number of carats however. Expensive diamonds also need to have excellent clarity. The means the inside of the diamond should be free from “inclusions”, and the outside of the diamond should be blemish free.

The number of inclusions as well as their size and tint all factor into the overall clarity score, as do the number and size of surface blemishes. A flawless diamond is at the top end of the clarity scale, referred to as ‘pure’. An inexpensive diamond may carry with it the classification of ‘heavily included’.

The appearance or absence of these imperfections is a result of how the diamond was formed underground over thousands of years. Since diamonds are often thought of as the symbol of perfection in our society, the more perfect they actually are under the scrutiny of a microscope, the more expensive they become.

Color is the next factor that determines a diamond’s overall value. If possible, a diamond should be as clear as water, but this is not always the case. Colors from other gases and minerals around during the time of the diamond’s formation may have altered its clean appearance and left the gem tinted.

Diamonds range in color from a designation of “D” to “Z”, with “D” being no color at all, and “Z” being a diamond with a color that is deep enough to be very noticeable to the human eye.

The cost of a diamond is also determined by one final factor, the cut. The cut of a diamond gives it the ability to glitter by reflecting the light back out in very precise ways.

To view a diamond from the point of view of the cut is to investigate whether or not it has any ‘fire’. Like the other criteria for grading, the cut has it’s own grading scale that goes from excellent to irregular. If the diamond doesn’t knock your socks off then it likely has not been cut very well.

So there you have it, the 4 C’s of choosing a diamond: carat, clarity, color and cut. Understanding these basic concepts before you enter a diamond store will go a long way towards making a good purchase decision.