Are you one of those people that have no clue how to buy a diamond and what to look for when doing so? You're not alone.... the majority of people rely on the sales person at the jewelry store to guide them in making a good choice. However doing this will usually end up costing you more than needed, most sales people are there to make a commission and will stretch the truth to make a sale.
Today there are more options than ever on how to buy a diamond. You can always go to your local jeweler like most people or you could go online to one of those big diamond websites that advertise to sell at bargain prices throwing your local jeweler under the bus (Nearly all the stones on these websites are actually owned by a 3rd party that the website will contact once you click the buy button). Finally you can even walk into Costco and buy up a nice sparky rock while you pick up that giant pack of TP and gorge on free samples. The diamonds that Costco sells are actually not that bad of a deal but it is an odd place to make such a special purchase, and there are better deals to be had elsewhere.
In reality all these options have there pros and cons and you can actually get a decent price at all three of them if you do your homework before hand and shop around a little bit.
When it comes down to the basics its pretty simple. Diamonds are usually priced based on their quality AKA the 4 C's.
Cut- the shape and its proportions
Clarity- the amount of flaws
Color- the color of the diamond
Carat- the weight of the stone
There are also many factors within these 4'cs that will make some stones more valuable or less than others even if they have the same "spec" on a diamond report. Also popularity AKA demand is a factor.
Most diamonds are priced off a price sheet that's supposed to standardize the prices however not all places that sell use this price guide to a tee, some completely inflate the diamonds price buy 2,3,4 or 10 times!
In my opinion your best option to find a diamond at a fair price would be your local jeweler or shop that also advertises to buy diamonds from the public. When they are buying diamonds from the public they use all the 4 C's above along with the industry price sheet when determining what they can pay. So when you go in to a store like this its fair to assume that they have enough knowledge to be able to sit down with you and explain in detail all the specs of diamonds and how they effect pricing. Its also pretty safe to assume that they have some diamonds or other stones in stock that they have purchased and can make you a better deal since they didn't have to source/order one from a wholesaler.
This doesn't mean that they will sell you a diamond for what they paid for it. They are a business and need to make a profit, but they are inclined to get you to be a repeat customer with a good deal.
Remember that the homework advice is the most important, along with checking in with a few places that sell diamonds. After you have done this you should have absorbed enough information to make a good purchase. One note on the topic of getting a good deal I like to bring up is that if you ever need to sell the diamond you bought you will most likely not get what you paid for it. The buy back price still might be only 50-75% of what you paid but it's a lot better then getting 10% back of your original sale, which unfortunately I have seen countless times from individuals that went to big box jewelers.
Cal Coin and Jewelry is a buyer of diamonds, so when go to resell a diamond we give amazing prices. We are also more than happy to sit down with you and explain everything in even more detail about diamond quality & price, all you need to do is stop in. If your looking for a place that buys diamond rings we are also a great option. We can pay better than most places on Diamonds, Jewelry, Watches, Gold, Coins, and Bullion since we have many years of experience combined with many clients looking for a great deal.