Buying a Diamond can be confusing and expensive work.

Buying a Diamond can be confusing and expensive work.

Here are a couple of no

nonsense rules to help you buy the diamond you want at the right price

• Find a vendor you trust. Find a vendor you can trust, and who can answer your questions. Ask if the store is a member of any reputable trade organisations, such as the National Association of Goldsmiths (NAG).

Buy the right diamond ring at the price you want

Find out the store’s return policy in writing. If you plan on buying your diamond online, it’s important to find out who is liable if your diamond gets lost in the mail.

• Get the papers. Quite often, diamonds that cost more than £2,000 may come with a grading certificate. Don’t worry if they don’t, just ask in writing for the grade, (Colour, Clarity & Weight). Make sure that any certificates come from reputable labs such as GIA or Anchorcert. Watch out for plenty of gemmological labs with similar but phony names like “Gemological Institutions of America”.
• Valuation. Make sure you get the item properly valued & then insure it as soon as you get home, ensure that your valuer is properly qualified & a member of the Institute of Registered Valuers (IRV) or Association of Independent Jewellery Valuers (AIJV)
• A Sale is not always a Sale. Diamond and mineral mining companies determine diamond prices. Be aware of stores that promote huge discounts; they know most shoppers can’t tell the difference.
• Know what you’re talking about. Become familiar with diamond industry terms, and what your rights are as a diamond buyer. GIA and JVC have diamond buying guides that can help you. Also check that the seller knows the rules of CIBJO, don’t worry if you don’t, they should be able to explain them, if they cannot then walk away.
• Buy shy. Prices jump Enormously at half carat, three quarter carat and one carat. Consider buying something a little below those sizes.
• Buy small. Diamond prices increase hugely with increasing size of the stone. Sometimes it is better to buy a small stone of good quality than a large stone of poor grading. A ring with several smaller stones can cost less than a ring with one large stone. A good strategy is to buy a small diamond ring surrounded by smaller diamonds, to make the centre stone look larger in comparison.
• Don’t buy on Holiday. There is practically no way to return or refund the “diamond” you bought at a marketplace in another country after finding out it is cubic zirconium or Moissonite.
• Finally: Enjoy your Diamond, wear it with pleasure & pride.