As previously discussed in part 1, diamonds form deep in the earths crust and are brought to us through volcanic activity and large scale expensive mining efforts. Here we will explore what characteristics give a diamond its value. If you have ever shopped for a diamond you may have heard of them. The Four C’s:
CLARITY – this represents the interior quality of the diamond. The clarity grade describes the presence or absence of flaws or abnormalities in the crystal structure. These may include cracks or fissures contained within the stone or crystals of other minerals that may have been absorbed by the diamond as it formed. The broad term used to describe these flaws and abnormalities is: INCLUSION. The GIA clarity grading scale has 11 grades:
VVS grades allow for small and minute inclusions that are very difficult to see by the trained eye under 10x magnification; VS grades allow for small inclusions that are not easy to find by the trained eye under 10x magnification; and in SI stones there can be inclusions that are easy to see by the trained eye under 10x magnification but should not be noticeable to the unaided eye. The “I” grades are for stones that have inclusions that are visible to the naked eye. I1 stones will have noticeable but not obvious inclusions. I2 stones will have obvious inclusions that have a detrimental effect on either the beauty or the integrity of the stone, and I3 stones are full of inclusions and have no sparkle – the inclusions have an extreme effect of the beauty and sometimes the integrity of the diamond.
COLOR - The color grade is a measure of the amount of color that can be seen in a diamond. Color is one of the trickiest evaluations to make. To properly grade color, the diamond must be loose, or unmounted and placed upside down on a white background in standardized lighting conditions and compared with other diamonds of known color grades. The GIA color grading scale starts with D. There is no A,B, or C. The difference from one color grade to the next is quite subtle and therefore the individual grades are divided into categories.
CARAT (CT)- This is a measurement of gemstone weight. Not to be confused with KARAT (KT) which is a measurement of gold fineness (14kt gold with a 1.00ct diamond). The larger the diamond is, the more rare it is. Diamonds are priced in dollars per carat and the larger the diamond, the higher the price per carat. For example a single diamond that weighs 2.00ct may cost $10,000/ct = $20,000 but two 1.00ct diamonds that equal 2.00ct total weight may cost $5,000/ct = $10,000 and twenty diamonds that equal 2.00ct total weight may cost $2,000/ct = $4,000. (these are not actual prices – used only as example)
CUT – This is a very important factor in the brilliance, or sparkle of a diamond. The flashes of light that we call brilliance or sparkle are due to light that enters the top on the diamond (known as the crown) and reflects off the facets on the bottom of the diamond (known as the pavilion) and travel back up though the crown to the eye. If a diamond is not well cut then the result is light leakage. This is light that leaks out of the pavilion and fails to reflect back to the eye. So a poorly cut stone will be dull and without sparkle regardless of the quality of the diamond. This is the only one of the Four C’s that is determined by the human hand.
The Four C’s work together to establish the value. A diamond that scores high in all four categories is exceptionally rare and thus has more value.
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