Carat weight and clarity are the two important considerations when buying a diamond. Each plays a significant factor in the gemstone's appearance and value.
Important Factors
Consumers who are shopping for a diamond should learn about the four "C's" of diamonds: carat, cut, color and clarity.
Carat
A diamond's weight is measured in carats, or, with diamonds smaller than 1 carat, in points, with 1 carat being equal to 100 points.
Clarity
The clarity of a diamond is an indication of its purity, or lack of inclusions (flaws) or surface blemishes, and is judged using an industry standard. Gems viewed under 10-power magnification are graded anywhere from "Flawless" to "Internally Flawless" to "Very Very Slightly Imperfect" to "Very Slightly Imperfect" to "Slightly Imperfect" to "Imperfect."
Relative Prices of Carat Weights
Because larger diamonds are more rare, their price increases exponentially rather than proportionally with increased size. Leo Schachter, master diamond artisan, reminds that bigger isn't necessarily better when it comes to diamonds, since cut, color and clarity also play the most important role in their value.
Relative Prices of Clarity Grades
DiamondRing.com's Diamond Tutorial gives an example of how a diamond's clarity affects the cost. A 1-carat diamond graded VSI1 (Very Slightly Imperfect 1) would cost approximately $1,000 more than one graded SI1 (Slightly Imperfect 1). An upgrade from VSI1 from VVSI1 (Very Very Slightly Imperfect) would cost $700 more, and to IF (Internally Flawless), yet another $700.
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