5 Steps to Take When Buying a Diamond 

Guidelines for buying a diamond

Buying a diamond is easier when you have some guidelines to follow. We’ve compiled five steps to take when buying a diamond so you can feel confident and relaxed.

Step one: Set a diamond budget.

A diamond is a significant purchase, so choose wisely. When shopping for a diamond, the price can vary depending on various factors. One of the most important factors is your budget. Establishing a budget based on your personal financial situation makes shopping easier.

Some of the factors that affect diamond pricing are:

• Diamond quality. This is most easily defined as relating to the 4Cs (more to come on that subject).
• Diamond size. While diamond size will obviously affect price, a smaller diamond is not necessarily of lesser quality than a larger one. The quality relates to inherent characteristics that credentialed jewelers can identify.
• Whether the diamond is lab-grown or natural. Both types of diamonds are real diamonds. They have the same chemical composition. But since they aren’t as rare as natural diamonds, lab-grown diamonds can be less costly. If you want a larger stone at a lower price point, a lab-grown diamond might be a good option.

Step two: Understand the 4Cs.

The 4Cs are integral to diamond grading and, therefore, diamond quality. The 4Cs are:

• Cut: The more precisely a diamond is cut, the more captivating it will be to the eye.
• Color: Diamonds are typically graded with a range from colorless to faint yellow. Diamond with less color visible are rarer. Natural fancy colored diamonds (pink, blue, yellow) are also popular and can be even rarer than colorless diamonds!
• Clarity: Internal characteristics known as inclusions affect quality.
• Carat: The physical weight of a diamond is factored into the equation.

A credentialed jeweler can help you understand the 4Cs and give you detailed information related to any diamond you are considering. Read more about the 4Cs before you go diamond shopping.

Step three: Choose a diamond shape.

Diamonds come in so many different shapes. The shape of the diamond you choose to buy depends only on what you love! Some shapes are well known, such as the round cut. This is a traditional engagement ring choice for a reason—it’s a beautiful cut. But engagement rings, and other diamond rings, come in an ever-widening variety of shapes. Emerald cut, square cut, pear cut, oval cut and more are options. Explore different shapes of diamonds. Knowing what you prefer (or what your significant other prefers) can help find the right style for you.

Step four: Choose a jewelry style.

Diamonds can be set as a solitaire but that’s just the beginning. Diamonds complement many other gemstones and look amazing paired together. Diamonds can be grouped together to make something unique. Some options to consider:

• A diamond halo ring – a diamond surrounded by other diamonds
• A diamond solitaire with additional diamonds on the shank of the ring (the circular band that holds the main stone)
• A diamond cluster is formed by an assortment of diamonds, sometimes of different shapes and sizes
• Toi et moi – a beautiful option that combines two main diamonds of different shapes

Spend time looking at diamond jewelry online to find the jewelry style you prefer.

Step five: Find a jeweler you can trust.

When shopping for such an important investment or momentous gift as a diamond, you need to know you have a jeweler you can trust. will give you confidence in your diamond shopping experience.

ICIA is the world’s leading alliance of jewelry trade organizations, dedicated to consumer protection. ICIA jewelers have been making jewelry purchases easier and safer since 2004. These fine jewelry professionals maintain and promote the highest ethical standards through education, accreditation, recertification of membership, gemological standards and gemological research.

Ready to shop for a diamond?

We hope this diamond buying guide is helpful to you.