Diamonds are most often formed more than 93 miles (150 kilometers) beneath the surface of Earth. Scientists believe that carbon, like other elements that make up the planet, came from other stars and intergalactic materials that took part in the Earth’s formation billions of years ago. Down in this mantle level of the earth, the carbon was subjected to impressively high levels of heat and pressure between Earth’s solid crust and its molten core. As a result of all this stress, diamonds crystallized are the densest mineral known by humanity. Other diamonds, such as those found on the continents of South America or Africa, are believed to have been created by meteorites which slammed into Earth and would have had the heat and pressure needed to create the gems.

Since diamonds are so far down, mankind would not have been able to discover them if it were not for certain volcanoes with very deep roots that reach down into the planet’s mantle. The rising lava pulls the raw diamond materials upward towards the crust where it is more accessible to miners. The material that we mine diamonds from is called kimberlite. 

While historically, Borneo and India were the only countries where diamonds were mined, discoveries in the 17th Century led to diamonds being found first in South Africa and then across the world. Today 27 nations produce diamonds and they can come from every continent except Europe or Antarctica. When they were first being studied, diamond mines were determined due to blue rocks which would later be called kimberlite after the town of Kimberley, South Africa, near where they were first discovered. When mining for diamonds, there are several minerals that are looked for: olivine, garnet and zircon. All of these could indicate a nearby diamond ‘pipe’, the name given to the tubes of solidified magma that holds kimberlite. For the most part, erosion is what lead to man’s discovery of diamond deposits since they are traditionally quite deep in the planet’s crust.

The first diamonds were discovered by people in India and Borneo, alongside rivers, nearly two millenniums ago, billions of years after natural history says they were formed. It would be more than seventeen centuries later before diamond deposits were uncovered in the rivers of Brazil and for over 140 years, South America would reign supreme as the world’s largest supplier of diamonds. The boom created by diamond discoveries in Africa towards the end of the 1800’s, meant greater understanding of how diamonds originated and lead to many more discoveries around the world until today, miners around the world know precisely what to look for in their pursuit of Earth’s most treasured gemstone.

In the world today, many people would be thrilled to be able to have the kind of rings that actually show off their style and first a couple really should select what means the most to them. For an engagement, it is usually diamond rings that are chosen, but once things go to the wedding level bands are a very common choice. One can pick gold, white gold, rose gold or platinum just to name some common favorites. Finding the right jeweller is definitely a big part of getting the right kind of value and this is going to be true across all cultures so be sure to do the homework first to find the right look and value.

This means that there are a lot more choices for a very personal kind of style that would not have been something that could be done in the past. Today there are jewellery designers that make very fine quality watches and other personal accessories which are both glamorous and offer far more than just a visual treat for the eyes, but make a statement of value and class that anyone would be able to appreciate even with a quick look. And this level of custom quality is exactly what so many people have been wishing for for such a long time. Thanks to the new tech tools available these items can be crafted to such intricate levels that each one is practically a work of art.

Carat – This is the single factor that has the largest impact of any of the 4 Cs because it determines the weight and size of the stone itself. This unit of mass can be thought of in this formulaic way:

1 carat = .2 grams (200 milligrams) = .007 ounce = 100 points

Points are understood as a .75 carat diamond weighing 75 points. The word carat itself comes from the Greek term “keration” meaning the seed of the carob tree, the standard measure of gems in older times. The larger the carat count, the bigger the diamond. Keep in mind, many diamond cutters will make a less than perfect cut in order to obtain a higher carat since larger carats are worth more money. Cut is part of the 4 Cs of Diamonds and so a buyer should pay close attention if the carat count seems especially large for the price point the piece is being offered at.

Another way to look at the inherent value of the carat is considering that a single carat of diamond is created by digging up and processing over 250 tons of ore. A diamond may start out at 150 carats in its raw form, but if polished incorrectly or simply not strong enough, it can easily be reduced to dust.

Cut – This is the other incredibly crucial determiner of a diamond’s value. The craftsmen who work with diamonds apply the “shape” that you end up seeing through the cutting process. This is a very tricky process that requires a cutter of high skill and in today’s world, complicated mathematics and lasers are often employed to get the perfect cut that wastes the least amount of diamond possible. All of the flat planes or facets of a stone must be cut in good symmetry and proportion to one another if a diamond is going to be graded as having a good cut. Many experts insist that cut is even more crucial than carat because it is the cut that determines the fire, shine and brilliance of a diamond. This is why certain cuts, such as the Round Brilliant or the patented Leo Diamond, can be worth far more than other cuts. 

Color – This is the one part of the 4 Cs that is determined entirely by natural causes rather than by the hand of a diamond cutter. It is coloration visible within a stone and the less color a stone has, the more valuable it becomes. The grades D, E and F are all considered to be closest to truly colorless and are therefore worth more due to their rarity although the scale does go to Z. 

It should be noted, however, that while the Gemological Institute of America’s alphabetical color scale is used to measure the increasing transparency of diamonds, there are also Fancy Colored Diamonds. These are more rare than even the D colorless diamonds and not covered by the GIA’s color scale. Pink, blue, vivid yellow or green diamonds are exceptionally high priced and make excellent specimens for the high end collector to show off.

Clarity – This value is seen as the purity of the diamond itself. Since small elements of other minerals are often trapped within a diamond as it forms, these “inclusions” are a part of many diamonds on the market today, but they bring the clarity down. Other aspects that will affect the clarity of a diamond include: needles, pinpoints, clouds or even fractures that are breaks within the stone. A high clarity stone will reflect a great deal of light and give off a rainbow of fire that is truly captivating to those who behold it.

Those considering a diamond engagement ring will want to know these prices because they are reflective of the most sought after shape for a diamond, Round Brilliant. Other shapes such as Heart, Marquise, Oval or Pear are certainly available, but as a general rule, it is the Round Brilliant that is currently most popular. Remember, for most expectant brides, only a diamond will do for an engagement ring.

$120 to $500
This is the lowest price level one can expect to get any diamond ring for. The carat will weigh between .15 and .25 at the top end. Usually there is no GIA Grading Report available for a gem at this price level so its quality will be unknown unless you choose to have it appraised. The setting can be expected to be either 10k or 14k yellow gold or white gold. Prices below this level need to be carefully scrutinized as the buyer may be receiving either a very poor diamond or there could be some other flaw present that they should be made known.

$500 to $750
At this point in the lower end of this Diamond Price Guide, the diamond may have a slightly higher carat, .20 to .37 at most. There is usually not a GIA Grading Report available for the diamond and while most settings will be 10k to 14k gold, there are sometimes 18k gold settings available.

$750 to $1,000
Carat weight for the diamond at this price point will be between .30 and .5, sometimes with a diamond certificate included. While 14k to 18k yellow or white gold settings are offered, platinum can also be a choice. 

$1,000 to $2,000
14k to 18k gold settings are common in this price range with platinum also being a potential choice. Not all diamonds in this range have a GIA Grading Report or other diamond certificate, but the carat weight should be between .58 to .75 for mid-level quality diamonds and .30 to .57 for high quality diamonds.

$2,000 to $3,500
This is the point in the Diamond Price Guide where one must be careful because while it is possible to get a 1 carat stone, most of these stones will have inclusions that affect the clarity of the diamond. Lower grade cuts, lackluster color and visible inclusions can all be found at this level. Maintain caution and choose a stone between .40 and .80 carat for the buyer who wants a stunning diamond and is willing to accept a lower carat. Platinum, 14k and 18k white or yellow gold are the most common settings.

$3,500 to $5,000
Between .50 and 1.50 are the common carat weights of these diamonds with many 1 carat stones appearing gorgeous to the naked eye. Settings will be 14k to 18k gold, either yellow or white, but Platinum is also a possibility at this price point.

$5,000 to $10,000
While carat weights can range from 1.00 to 2.50 for diamonds in this wider prince range, the values are going to be better at the medium part of the carat spectrum, especially for those who stick in the more modest 1 to 1.50 range. That range can offer a truly stunning diamond at a great price with very few of the flaws that can trouble diamonds at the higher end of the carat range. 18k white or yellow gold is the most common setting here, but platinum is another possibility.

$10,000 to $15,000
The show stopper diamonds in this range are generally going to be 1 carat stones, but some dazzling 2 carat stones can also be found. Typically, the higher end 3 carat stones are going to have lots of features, such as inclusions, that will lower their value. Platinum and 18k yellow or white gold are the most common settings for diamonds priced at this level.

$15,000 to $30,000
Again, 18k gold or Platinum is the typical setting for this price range, and the carats will also be 1 to 3 in weight. Keep in mind that 1 carat diamonds at this price point are going to be utterly stunning and some of the best on the market. Decent quality gems up to 2.5 carats are certainly possible, but above that weight there are often factors which lower the value of the stone.

$30,000 to $60,000
With a carat range of 2 to 3, this price range gives excellent diamonds up to about 2.8 carats. This end of the Diamond Price Guide can get spendy, but offers larger stones. After 2.8 carats, the stones are more rare so selection is going to be smaller. 18k gold or Platinum are the standard settings.

$60,000 and Higher
This is where high levels of customization come in, generally offering a variety of settings and diamonds larger than 3 carats. Those looking to impress can’t go wrong at this price range.

Unlike an appraisal of the stone’s value, those who perform diamond grading are attempting to create a comprehensive profile of the individual stone itself. The importance of this is for more than just helping to determine the diamond’s value. It is helpful to know these details so that if the stone were ever lost or stolen, the proper grading report could identify it. However, it must be said that grading plays a very important role in the appraisal process, even though it goes into greater depths than what are actually necessary for valuation.

The 4 Cs of Diamonds obviously play a very important role in the grading process and they are: cut, clarity, color and carat. Experts have found that even slight variations in any grade of these 4 Cs can affect a diamond’s price by as much as 25%, a large sum of money when one gets into the higher end of diamond price ranges in the tens of thousands of dollars. Labs all over the world offer their grading services similar to those developed by the GIA in 1953, but many in the diamond trade feel that grades can vary from one lab to the next as certain labs will grade harsher or more lenient on one aspect of a diamond’s grade than the others. Merely having a grading report or certification of some kind will often dramatically raise a diamond’s price, as well.

While diamond grading is often presented as a science, in fact, it is a subjective skill and a field that is only recently emerging from a historical standpoint. This is because the human eye has some limitations in terms of perceiving color and clarity and also because laser inscriptions and other features can be seen as positive or negative, depending upon the lab.

Beyond the 4 Cs, other aspects are included in a grade such as girdle thickness, depth percentage, plot charts and comments. Each lab grades a bit differently, but one thing can be said for certain and that is that currently a diamond graded by the GIA is going to have the highest value when compared to those gems appraised by other, lesser known, labs.

When a diamond is mined from the earth it is not in the form that you see it in once it has been placed inside jewelry. In order to achieve the impressive visual effects that we recognize, the gem must be crafted by a highly skilled individual who is referred to as a diamond cutter. To carve the stone in the right way, the cutter makes use of a diamond cut, which is a guide that shows them precisely how the stone must be shaped to achieve the basic cuts of diamonds or other gems, such as the Round Brilliant, Rose Cut or Heart Cut. Each of these cuts is done a different way to achieve a unique effect for the stone and give it its own individual character that will vary depending upon it’s carat count, color, clarity and other factors. No two diamonds will ever be exactly alike even if they are precisely the same cut.

Since symmetry and proportions of a stone’s cut are so crucial to its value, the stone cutter must know exactly what he or she is doing. The wrong diamond cut can greatly reduce the value of an otherwise highly valuable diamond. The polish is part of the cutting process and this, too, will help give a diamond the brilliance it is known for. The cuts themselves have all been designed to take the best advantage of any given diamond’s full potential in order to create a gem of the highest possible value. When they are choosing the proper cut, the craftsmen look at the size and shape of the diamond to consider the number of facets that could be properly achieved with the stone.

While diamonds have been cut since medieval times, it would not be until fairly recent times that theory about the best possible diamond cut for each type of stone would arise. In our modern era we have access to lasers and other tools that can greatly reduce the wasted bits of diamond that plagued gems from long ago eras. Using this theory, diamond cutters can achieve the maximum from the stones they set out to carve and use mathematics to create a remarkable gem anyone would be pleased to own.

There are a great many ways to cut a diamond, but for those who want the most modern diamond cut, then there is no substitute for the world famous Round Brilliant Cut. This particular style creates the maximum number of facets and is the most difficult to properly perform, but the end result is a truly stunning diamond. Other cuts of note are:

The Trielle
A patented cut from Trillion diamonds that is designed to appear bigger than it actually is

The Quadrillion
A patented square shaped diamond that is cut in such a way that 49 facets on the stone create an effect at its center that resembles a star pattern

 The Crisscut
A patented cut by Christopher Designs that uses criss-crossing facets which improve the diamond’s brilliance.

The Rose Cut, an older cut that makes the diamond resemble its namesake flower; The Old Mine Cut, featuring a high table on a square shaped gem with rounded corners

The Asscher Cut
An emerald shaped cut that is squared to resemble an octagon’s shape; and a host of other cuts that incorporate different shapes by using facets.

There is much to learn about the intricacies of the diamond cut, so one who wishes to become an expert certainly has a long, but fulfilling road ahead of them.

Since the human eye can detect color almost as well as sparkle, caused by a diamond’s cut, the color is a major factor that will determine the beauty of a diamond. Grade D is absolutely colorless and extremely rare; grades E and F are both very rare, having have traces of color that could only be seen by a gemologist wearing a magnifying lens; G and H grades have trace levels of color that is almost impossible to detect without a side by side comparison with a more colorless stone; grades I and J have a warm tone to them that is barely visible; and the rest of the spectrum from K through Z have increasingly higher amounts of ‘yellowing’ that is considered undesirable. It is important to note that when set in the right piece of jewelry, even lower graded stones can be attractive. However, a stone cannot be graded for color after it is set in jewelry so one must take care to obtain loose diamonds if the goal is to have them graded effectively.

The colorless diamonds are sometimes referred to as white diamonds and while they are the most sought after in some respects, not everyone prefers them. Diamond color can be shown in all the colors of the rainbow including shades such as storm grey, canary yellow, tropical green, sea blue, cherry blossom pink, violet purple, fiery orange, crimson red and even a mocha like shade of brown. Some of the world’s most famous diamonds such as the enormous 45 carat Hope Diamond, a gray-blue diamond, and the Persian Darya-I-Nur (Sea of Light), a sparkling pink diamond weighing over 182 carats mounted, are more valuable than even colorless diamonds. 

When it comes to color, it is important to consider whether one is seeking a traditional value in the clear white diamonds or if a particular shade would be better appreciated. Certain specialist dealers do focus on fancy color diamonds so that market always has plenty of opportunities for serious buyers.

The purpose of all Diamond Certificates is to essentially describe the diamond itself by explaining its strong points as well as any flaws that the stone may have. To do this, a gemological lab will use different instruments to measure and otherwise investigate the jewel so that they can describe its condition for the person requesting the certificate. Experienced Diamond Graders are the people who create the certificates and they practice a skill that takes many years to master. They have been trained to thoroughly check any diamonds for the most minute of details in order to determine what the stones could be worth to those purchasing them. It is very important to have an independent gemological expert examine any stone you buy or intend to buy because if your certificate comes from the jeweler you bought the diamond from then it could, of course, be subject to a level of favoritism that may slant in favor of a higher price. The same is true in reverse if you are looking to sell a diamond.

It is important never to purchase a diamond that does not have a certificate because otherwise there is no real way to tell the worth of the stone since most details that lower its value are either barely visible or entirely invisible to the naked eye. You need an independent expert to verify its quality. All of the world’s most famous diamonds in the world have their own Diamond Certificates and this includes such renowned gems as The Tiffany, The Incomparable, The Millennium Star, The Hope Diamond, The Premiere Rose and The Heart of Eternity.

Two things that you will find on all Diamond Certificates are a number and a name of the lab that scrutinized your stone. Firstly, you want to make sure that you have either heard of the lab in question or that research proves the lab exists and is actually qualified to judge diamonds. Frauds exist in diamond trade as in any other area of business, so be cautious and sensible. The Certificate Number is the unique number given to your diamond by the lab that examined it. If you ever have questions, you should be able to contact the lab and use this number to reference the jewel so that they can give you an extra information or simply confirm their appraisal of it. On a Diamond Grading Report issued by the GIA, you will find a laser inscription of the GIA Report’s number as an added security measure.

The certificates themselves also feature plenty of other information such as the cut and shape of your diamond. The arrangement of the facets is referred to as the ‘cutting style’ and examples of what you might see include: Princess, Emerald, Step, Marquise, Brilliant and Mixed, which indicates various styles of cut were combined to  create the stone. Shapes can vary from Oval or Pear to Round or even Heart. In combination, on Diamond Certificates, you might see a stone defined as Round Brilliant or Heart Princess.

The measurements of your diamond will also be shown on its paperwork and this is normally calculated in millimeters. A micrometer is the tool used to take the measurements and it is accurate within one hundredth of a millimeter. Depending on the shape, the measurements are calculated differently. The more fancy types of shapes are calculated by multiplying the diamond’s length by its width and its depth. For round stones, the calculations are determined by subtracting the maximum diameter from the minimum diameter and multiplying that sum by the stone’s depth. The size of a diamond is measured with a digital scale accurate to one hundredth of a carat.

Both the color and clarity of a diamond are determined in the lab setting by comparing the gem to an array of diamonds laid up beneath a special type of lighting that helps to emphasize the points being examined. When it comes to color, the grades range from Z being least desirable up to D which is most sought after level of color. Stones with a rating below Z are considered to be showcasing ‘Fancy Colors’ and can be valuable in their own way due to these shades. Clarity, on the other hand, uses a completely different scale that goes from worst to best: I3, I2, I1, S12, S11, VS2, VS1, VVS2, VVS1, all the way up to IF, the highest grade for clarity that a diamond can receive. Irregularities on the surface of a stone, along with any natural inclusions within it, are examined using a Stereo Microscope. Fluorescence is an additional measurement that is gauged by testing the way that the stone reacts to long wave ultraviolet radiation. To some, a strong Fluorescence is considered a negative value. 

Finish, Polish and Symmetry are three other aspects of a grading that will be displayed on Diamond Certificates. These points all place judgment on the skill of the stone cutter themselves. Very evenly placed facets on a stone with an excellent Polish are said to have a high Finish. The Polish rating describes the level of skill and effort applied by the diamond cutter in making the stone shine, where as the stone’s Symmetry describes its facets and how precisely they are arranged to reflect the desired appearance of ‘mirroring’ one another by being properly placed and of equal size.

Along with all of these factors, Diamond Certificates will also include a graphical illustration of the stone called a Plot. Since all diamonds are as unique as snowflakes or fingerprints, the Grader at the gem lab can use this Plot to verify a stone they are shown is the same as the stone shown on the certificate. Plots use green ink to show external characteristics such as a cut, but red is used to show internal details within the stone. Your certificate should have a key to the symbols used on it for identifiers like minor errors in cutting or other issues. 

While the GIA’s Diamond Grading Reports show a picture of the diamond that explains its unique Proportions, other Diamond Certificates will have specific sections just for this information. The depth shown is determined as a percentage, measured from cutlet to table and this value is relative to the diamond’s width. The largest facet, which is what the viewer primarily looks at from above the stone, is crucial in determining the worth of the stone’s cut. The cutlet, it is the narrow end of the stone that is intended to help it keep from chipping. The final aspect included on some certificates is called the Girdle. This is the area that divides the top part of the stone, called the crown, from the bottom part of the stone, known as the pavilion. This aspect is described in terms of a range since it can vary around the diamond itself. Sometimes the Girdle is laser inscribed with messages, particularly if the diamond is a gift. 

Lastly, many comments generally appear on these documents as the Grader attempts to explain all the various intricacies of each stone and what makes that stone truly unique. Diamond Certificates, you should keep in mind, do not give a value for the stone. They are merely used to identify and record each diamond and give an appraiser a general idea of what they might be worth.

It is understandable that any natural gem might have things included within it that are not for the better, visually speaking. Since a diamond’s value is mostly visual beauty, it makes sense that these inclusions and blemishes would reduce its overall worth. Naturally formed diamonds, as with most things found in nature, almost never have a flawless level of diamond clarity. To make a diamond, carbon is compressed at incredible amounts of pressure within the earth, so if anything at all gets in with the carbon then it is bound to be in the diamond, as well. This can include bubbles, fractures or matter that is not actual the actual diamond mineral, all of these are considered inclusions. Blemishes, on the other hand, are chips, scratches or pits that are many times the result of the cutting process. Around the girdle is the typical place to find blemishes.

When one wants to understand the level of diamond clarity present within a given stone, there is a chart that is used in the diamond trade which is a key to the grades given out by those who work with these stones. While it appears complex, reading it over once should make things clearer:

I1 through I3
These three grades (I1, I2, I3) are all visible without magnification. The I stands for Included and all three of these grades are stones that are not considered of good quality. One should take care to avoid such diamonds as their clarity is so poor that they do not make for a good purchase. Most people will be able to spot the flaws, as well, and this could cause the owner some embarrassment.

SI1 and SI2
These two grades mean that Slight Inclusions can be easily spotted under magnification set to level 10X.

VS1 and VS2 
Under 10X magnification, it is possible to view the inclusions present within diamonds given either of these grades. VS stands for Very Slight inclusions.

VVS1 and VVS2
It is difficult to find the inclusions featured within a diamond of either of these two grades, even with 10X magnification. VVS stands for Very, Very Slight inclusions.

IF
This is very rare and the abbreviation stands for Internally Flawless. This means the diamond has no internal flaws, but may feature blemishes on its surface.

F
With the F grade, the stone has no inclusions within or without. It is completely flawless and excruciatingly rare, too.

While a perfect F diamond might seem the most desirable, it is important to remember that until the I grades, a diamond has perfect clarity to the naked eye, its inclusions only being visible under a 10X loupe. This means that diamonds of VVS, VS and IF grades are all remarkable and often stunning. The diamond clarity of an S grade diamond is still very high in terms of what it offers to a piece of jewelry because it is what gemologists refer to as “eye clean”, meaning its flaws are not visible without a magnifying lens. 

The most important thing to remember is that unless a person purchases an I grade diamond, the flaws are only going to detract from the diamond’s value, not its appearance.