Diamond size can vary depending on carat weight and overall cut proportion. A 1.00 carat stone that is cut a little too deep might actually be smaller looking than a 0.90 carat stone that is well proportioned. Also, at certain carat levels, per carat prices increase substantially. These carat levels are the following: 0.50ct, 0.70ct, 1.00ct, 1.50ct, 2.00ct, 3.00ct, 4.00ct., and 5.00ct.

For jewelry purposes, SI2 clarity is sufficient to allow for brilliance and dispersion. In most cases, close examination with the naked eye will not reveal any flaws. For engagement purposes, many buyers prefer stones with higher clarity grades. Selecting SI1 or SI2 rather than a VS clarity grade can enable a buyer to own a larger and/or better color diamond for the money; without a substantial drop off in beauty.

*For engagement purposes, I recommend VS2-SI1-SI2 clarity

While colorless stones are rare and cost more, near-colorless stones will look essentially the same to the eye when set in jewelry. Choosing a G-H-I-J color instead of one in the D-E-F range will enable you to get a larger diamond for the money. If the diamond is to be set in white gold or platinum, select a color, which is a little higher on the scale, than you would if setting it in yellow gold. Yellow gold disguises color; white gold and platinum can reveal it.

*For engagement purposes, I recommend G-H-I color

While a good quality round diamond with an ideal cut will certainly be very beautiful, good, very good and premium cuts will be just as attractive without costing a premium. While no commonly accepted ideal cut parameters exist for fancy shapes, good and very good cut grades will have a beautiful result of light return. When selecting a fancy shaped diamond, also consider the length to width ratio, and the design of the mounting.

You may have heard that the appropriate sum to spend on a diamond is based upon your salary. You should disregard such advice and spend what you are comfortable spending. The experience will be much more pleasurable if you set a budget and work within it. There are small compromises that can be made to fit a nice looking diamond into almost any budget. In each of the sections of the four C’s, I offer advice on getting the best bang for your buck. In addition, compare prices among different shapes. You may find that you can get the same size and quality for less money by considering a different shape.

*When color, clarity, and carat weight are all equal, round brilliant cut diamonds are more expensive than fancy shaped.