The best diamond would be biggest, best looking diamond you can afford. Understanding the quality concepts of a diamond is important if you want to know how to buy the best diamond within your budget.
If you have unlimited funds, then your task is simple. Get the highest grades in all the 4Cs of diamond grading which would be, Excellent for Cut, Flawless for Clarity, Colorless for Color grade and the maximum Carat available.
If your funds are limited there are still plenty you can do to get the best value for your dollars. The underlying principle here is to seek for the apparent quality instead of the actual quality of the diamond. This way you get the best diamond for the budget you set yourself.
To buy the best diamond do not go for the best in each of the 4Cs but rather downgrade in certain areas where changes are not discernable. For example downgrade a few steps in Color, Clarity and upgrade in the Cut. This way you are investing in that particular grade which is the most important for the apparent quality of the diamond.
As for Carats the simple rule of buying just shy of a whole number or exact half is the smartest way to buy as diamond prices rise disproportionally to rise in Carat value and jumps at each whole number or the exact half. Also a diamond apparent size also depends not on the carat but on the shape of the cut.
For example a Princess Cut diamond will look much larger that a Round Brilliant Cut diamond of the same carat. So the best diamond would be the Princess Cut diamond as you get better value for the carat size. Apart from the apparent quality concepts of diamonds, there are still many more options when approaching the question of how to buy the best diamond. These are as follows.
- Going online is certainly recommended if you want to buy the best diamond for a fixed budget. Online vendors have quote the most competitive prices as there is heavy competition plus they do not have to markup prices to cover for things that generally a brick and mortar jeweler needs to.
- Another way to buy the best diamond is to buy them as loose diamonds. Whether you buy online or from you local vendor, set diamonds are generally more costly compared to loose diamonds of the same quality.
- Generally the more you pay the better is the diamond quality. Therefore if you really want to get the best diamonds then forget retail jewellery. Go to their source instead to skip the markups. Generally this would mean contacting dealers or wholesalers. Unless you have contacts or connections buying from dealers can pose hurdles but they are worth a try.
- Get a grading report for your diamond. Grading reports are issued by GIA, AGS labs and are important in certifying the quality, value and authenticity of the diamond. Also get your purchase appraised by an Independent appraiser to ensure the quality.
Overall the most effective approach on how to buy the best diamond is to learn about what makes a quality diamond and apply them.