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Understanding Diamonds

Understanding Diamonds by 'Rio Tinto Diamonds'

The 4C’s

Clarity:
In other words it also describes the purity of the diamond. The inclusions (internal characteristics) also commonly known as internal flaws affect the Clarity Grade. Actually, how easy or difficult it is to view the inclusions with the aid of a 10X (power) magnification lens by an experienced grader will determine the clarity grade. The clarity grade ranges as shown below:

Internally Flawless (IF):
No Inclusions visible with the 10x lens.

Very Very Slightly Included
(VVS1 & VVS2):
Inclusions are extremely difficult to view with the 10X lens.

Very Slightly Included (VS1 & VS2):
Inclusions are somewhat difficult to somewhat easy view with the 10X lens.

Slightly Included (SI1 & SI2):
Inclusions are easy to obvious to view with the 10X lens.

Included or Imperfect (I1, I2 & I3): Inclusions are somewhat easy to obvious to view with the Naked Eye.

Color:
The color in a diamond is due to the presence of an impurity which replaces a carbon atom, or the deformation of the internal growth structure. Color in a diamond ranges from Colorless also known as white to dark yellows or browns. A diamond can also be found in any possible color such as green, red, pink, blue orange, gray, black, purple and many more. Most of these are termed as Fancy Colors and their prices would increase if the color is darker and more intense.
The color grading chart ranges as below:

D, E, F – Colorless

G, H, I, J – Near Colorless

K, L, M – Slightly Tinted

N, O, P, Q, R – Very Light Yellow/ Brown

S, T, U, V – Light Yellow / Light Brown

W, X, Y, Z – Yellow, Brown

Carat Weight:
It is the unit of weight for the diamond. A carat is further subdivided in 100 points or 100 cents (term used locally) ie.0.01 carat = l point or 1 cent). One carat is also equal to 0.20 grams. The larger the stone, it costs much more, In other words, one-carat single diamond will cost much more than 2 half carat diamonds , as the one-carat stone is rarer.

Cut:
refers to the finish of the diamond, which is further subdivided into the cut grade (proportions), symmetry grade and polish grade of the diamond. These factors determine the fire, brilliance and scintillation of a diamond. Excellent to Very Good cut sell at a premium and Good or fairly cut diamonds sell at discounted prices. With the advent of technology, the cut of the diamond can be determined through the use of the Dia-mension system, a computerized system which takes accurate measurements and proportions of a diamond in seconds, in addition to the standard millimeter gauge.

Since the quality of the cut is directly responsible for the stone's beauty, the precision with which the facets are arranged (angles) is of prime importance.

How do the 4C’s affect the price of diamonds?

Pricing of diamonds is a slightly grey area. Unlike gold where the price is based on the purity of gold like 18k, 22k or 14k, diamond pricing involves more factors. Global events like recession, any calamities, and shortage of rough, exchange rates make big changes in the pricing of diamonds. But on regular basis the 4C’s influence the pricing of diamonds. The pricing can be well understood with the help of a Rapaport chart, which is general price estimation guide. Larger sizes, higher clarities, better cuts and higher colored diamonds are offered at lower discounts or at times at premium above the rapport sheet .Inversely the lower goods are offered at higher discounts. The updated Rapaport sheet is available with the jeweler for the client’s reference. The most common question asked to a retailer is “How much does a 1carat diamond cost?” It would sound like “How much would a red car cost?” It becomes necessary during a purchase that all the 4C’s be specified to the retailer.

Why are Diamonds so Rare?

The most recent diamond formed is still over a billion years old.

Since then there is no new growth of diamonds. There is extensive mining of diamonds taking place worldwide. This leads to exhaustion of rough from mines. Until new sources are found there will be shortage of rough. Also, the extraction procedure and period increase the costs. It is a fact that tons of gravel and mud has to be removed to find a carat of diamonds. Also the percentage of gem quality diamonds against Industrial quality (cannot be used for jewelry purpose) is much lower.

All the above factors make diamonds rare.

Certification

It is an independent third party opinion given on diamonds, colored gems and Mounted jewelry. In the world of varying opinions it becomes most necessary to buy certified diamonds and jewelry which are certified by a renowned International Laboratory. The consumer can purchase without fear the quality he is looking for and accordingly pay the price. It also helps the traders make deals internally with convenience. Having global acceptability these diamonds can be traded worldwide along with the certificates. In short certification gives peace of mind to consumers and traders alike.

Understanding Diamonds by 'International Gemological Institute'