Loose Diamonds – a Buying Guide
Posted by: | Comments
If you’re out there looking for the best loose diamond for your money, then please contact me and let me know your budget and what you’re looking for. I’ll sift through thousands of loose diamonds online and send you a list of 4 or 5 suggested stones to choose from that fit your needs the best. Unlike the other sites, I’m not looking to sell you anything – my advice is objective and in your best interest. The service is free, and there is absolutely no commitment to buy any of my suggestions. You have nothing to lose!
Why this article?
This article is for anybody looking to buy a loose diamond (either by itself or with an engagement ring as a “build your own” set) online at one of the many online diamond vendors. If you’ve been around my site before, you’ll see that I generally recommend buying from James Allen. For an explanation of why that is, see here: James Allen vs. Blue Nile and here: Truth About TruthAboutDiamonds.com. Likewise, you can read my individual site reviews for James Allen and Blue Nile.
What Carat Weight Range Should I Choose?
This is probably the most important question you will ask yourself when buying loose diamonds, because compared to all the other factors, carat weight has the greatest effect on a loose diamond’s price. Additionally, carat weight is of supreme importance because this is what will primarily determine the size of the diamond you buy. What are your fiance-to-be’s expectations? Is she expecting a 2 carat diamond? Will she be disappointed with a 0.50 carat diamond? These are crucial issues, so make sure to do your research thoroughly before you buy. If you can’t speak to her about it, try to speak with her friends or family. In most cases, the answer will be “the larger the better,” but it’s always good to know what her minimum expectations are.
What Shape Should I Choose?
The second most important issue you’ll have to figure out when buying a certified diamond is what diamond shape is your girlfriend expecting? The answer to this question is purely a matter of aesthetics. There’s no calculation you can make that will tell you what she wants. For this question, more than any other, try consulting her friends. Very probably, she’s mentioned it before to one of them. If you simply can’t get the answer, and you absolutely do not want to ask her, then the safest bet is the Round Brilliant. Rounds are the most common diamond shape by far. Most sites have a 30-day return policy, so if you order it close enough to the proposal date, and you get it wrong, you can always send it back and buy what she really wants.
Keep in mind, however, that shape can affect a loose diamond’s price. All else being equal, round brilliant loose diamonds cost more than the other shapes (generally called “fancy shapes”). The reason for this is that round brilliant certified diamonds have a much lower yield-from-rough than the other shapes.
What Diamond Cut Quality Should I Choose?
The first two questions simply set the stage for the real technical decisions. Now that you know how big of a stone you need and what shape it should be, you need to decide on the Diamond Cut quality. Cut Quality will also have a notable effect on the price of loose diamonds. Choosing a cut quality can be tricky, however, since cut grades are not standardized at all across the different vendors. Some vendors only offer a cut grade on their round diamonds and base them on the certificate’s cut grade (with the exception of AGS, the labs do not offer cut grades on fancy shapes). Other vendors disregard the certificate’s cut grade altogether on rounds and fancy shapes, and use their own matrix of cut grades based on the diamonds’ measurements. Combining these different strategies in a meaningful way is difficult to say the least. Whenever possible, you should use the certificate’s cut grade over and above the individual site’s cut grade.
My advice for cut grade is this: If you are looking for a round brilliant diamond, only search for “Ideal/Excellent” grade diamonds. If you are searching for a fancy shape, however, then it might pay to either include “Premium” or to disregard the cut grade altogether. This is not to say that cut grade is not important – on the contrary, it’s of utmost importance. It’s simply saying that many vendors don’t correctly report fancy shape cut grades, so why filter out many results from your search which might be great choices.
What Color Grade Should I Choose for loose Diamonds?
More so than a Diamond’s Clarity, a Diamond’s Color has a serious effect on both a loose certified diamond’s appearance and price. For recommendations as to the best color to choose for the best value, see our article about diamond color. It is important to remember than different shapes reflect color at different strengths, so your choice of optimal color balancing the diamond’s appearance with the diamond’s price will depend greatly on what diamond shape you’ve chosen.
What Clarity Grade Should I Choose?
As opposed to Color and Carats, I like to think about Clarity not in terms of a sliding scale of grades, but as a binary grade. What I mean by this is that all I care about when evaluating clarity is whether or not a loose diamond is clean to the naked eye. If it’s any cleaner than that, it’s just going to cost you more money without giving you anything back in return. You’re better off buying the lowest possible clarity grade that is still clean to the naked eye and using the money you saved to either buy yourself a larger diamond or a diamond with a higher color.
With most vendors, this isn’t possible because you can’t see the diamond before you buy it. James Allen, however, lets you get beyond this hurdle. With their “Virtual Loupe” you can evaluate a loose diamond before you buy it. If you have any doubt as to whether or not a stone’s inclusion pattern will be clean to the naked eye or not, please feel free to email me a link to the stone and I’ll be happy to take a look for you and give you my educated opinion.
For an informative overview of the different clarity grades, take a look at this diamond clarity chart.
What about Fluorescence, Polish, and Symmetry?
These will also affect a stone’s value (but not necessarily its appearance) to some degree, although much less so than the factors mentioned above. For an in-depth discussion of each of these three factors, please see these individual articles: Diamond Fluorescence, Diamond Polish, and Diamond Symmetry.
Which Diamond Lab’s Certificate Should I Look for with my Loose Diamond?
You should consider only GIA Certified Diamonds and AGS Certified Diamonds in your search for a loose diamond. You should stay away from IGI, EGL, and HRD Certified diamonds because I have found in my professional experience that their results cannot be relied upon due to their consistent inconsistency in grading. Feel free to read the articles I wrote on each individual lab linked to above.
Related posts:
- Q&A: “Losing it Over Loose Diamonds”
- Q&A: Skeptical About Truth About Diamonds and Buying Online in General (and Problem with Chipped Stone)
- Q&A: Looking for Loose Round 0.6 Carat Diamond
- Buying Diamonds in the UK VAT and Customs/Duty Tax Free
- Q&A: Should I Buy a Beautiful Loose Diamond in Bahrain, Ira?
Of these two diamonds, just based on measurements, table, and depth, which one would you buy?
1.08 H SI2 6.58-6.59 x 4.08 mm table 56% depth 62%
1.05 H SI2 6.51-6.56 x 3.98 mm table 59% depth 60.9%
Thank you very much! It is great to get expert advice!!
the top one. But if there was any difference in price, I would go for the cheaper one.
Mike, thank you! The 1.08 is $100 less (GIA certificate 2131842733), and the 1.05 is a Canadian diamond (GIA # 2126171595). Should I consider Crown angle/height, pavilion angle/depth when considering which to choose?
I wouldn’t worry about that. Probably wouldn’t be able to tell the difference – assuming of course both have EX cut grades
Hey I’m looking for a loose diamond princess cut diamond with a $4000ish budget. Do you have any suggestions?
Hi Brian. These two are really nice:
http://www.jamesallen.com/diamonds/G-SI2-Ideal-Cut-Princess-Diamond-1463316.asp
http://www.jamesallen.com/diamonds/G-SI1-Ideal-Cut-Princess-Diamond-1464318.asp
Hi Mike, I’m in the UK and I just bought a pear shaped pendant for my wife for our 10th wedding anniversary and am getting a bit of a gut wrenching feeling in my stomach; I wish I’d seen your site beforehand, as it is an IGI certificate. Have I been ripped off? I paid £4200 for a 1.13 carat, pear, 9.05 x 5.85 x 3.42 mm, SI2, F, Flourescence None, Very Good finish, Table 60%, Crown Height 14%, Pavillion Depth 40.5%, Girdle Thickness Slightly Thich (Faceted), Culte Size Pointed. Regards, Bilal
Hi Bilal. So here’s something pretty similar: http://www.jamesallen.com/diamonds/G-SI2-Ideal-Cut-Pear-Diamond-1411189.asp
The IGI F is probably the same as a GIA G. It’s very possible that your SI2 would be a GIA I1 as well, but lets assume not for now. This stone is $3,120 USD pre-VAT. PUtting that into JA’s currency converter, that gets you to: 2408 GBP (net delivered including VAT). This doesn’t include the setting, of course, but a pendant setting is only a few hundred dollars. So yes, you can get a much better deal online.
Hi Mike/Ira,
I posted on the ‘Colour’ topic a few days ago.
Just to recap, I’m in the UK and am looking at buying a new engagement ring for the one I have lost. I would like to spend a total of £2000 to include VAT if possible.
I would like a princess cut diamond and was looking at James Allen’s 1.5mm comfort fit setting or more recently have been wondering about the Platinum Thin French-Cut Pave setting.
I am wondering about this diamond http://www.jamesallen.com/diamonds/H-VVS1-Ideal-Cut-Princess-Diamond-1449350.asp but with both settings it takes me just over my desired budget. Are there any other diamonds which you can see that would keep me within my budget?
The bottom line is (as is every girls I suppose!) that I would like the biggest, most sparkly ring I can afford!
I know my budget is quite conservative compared to many people seeking your advice but hey ho!
Many thanks
Emma
Ps this is a brilliant website by the way, I have learnt so much and most of all I have found James Allen!
Hi Emma. I just answered you on the other page.
http://www.jamesallen.com/loose-diamonds-search/
hi mike, why are these two very similar stones almost 1 K price difference? i do like the 1.48 better b/c of the mm size but 1K seems like a HUGE price jump for 1 mm greater size…why the big jump in price?
This isn’t a usable link (and neither was the other one). But it’s OK, I don’t need to see the stones. Prices vary because JA works with several different vendors. JA doesn’t determine their prices, their vendors do. JA just applies a set formula to their cost basis for each diamond. So it could always just be that one vendor is pricing his goods more aggressively.
Mike,
I am blessed to have found this sight. I feel so powerfully informed now. I searched awhile for a ring that I had a photo of for about 10 years. An astute jeweler informed me that my design was Scott Kay. More directly, model M0858RDZPP from the Contemporary collection. Subsequently, I found that hardly anyone can discount Scott Kay. After reading everything I could here, I found JamesAllen.com and an almost identical lower costing setting that I believe that, more than likely, I will purchase:
http://www.jamesallen.com/engagement-rings/wedding-ring-sets/gold-wedding-ring-sets.html
Problem is that I would like to find a good value 0.90 to 1-carat diamond to accompany it. I have learned that slightly under 1-carat can save me tons. I want the elusive carat but have no issue saving money for a high quality stone. So far, I have found this:
http://www.jamesallen.com/diamonds/J-VS2-Ideal-Cut-Round-Diamond-1457117.asp
Can I get anymore bang for my buck?
Thanks as always a million!
Hey Keith. This is a much better stone for you: http://www.jamesallen.com/diamonds/H-SI2-Very%20Good-Cut-Round-Diamond-1459346.asp
The stones in the matching wedding band are G/H color, so you need something higher than a J. This stone I linked to is perfect for this.
That first stone I picked looked so clear inside and was a tad bit bigger and ideal cut. Does the color come into play that much because of the surrounding stones? Would the G/H stones make my J stone look yellow? I’m curious because it seems like I’m losing a lot to improve the color. I read here that in a round stone the color reates about a 3 out of 10 in necessity. Can you explain for me?
Mike,
I think I answered my own question:
“This will become relevant, though, if you’re purchasing an engagement ring with side diamonds, or perhaps a Three Stone Ring. It is recommended that side (or accent) diamonds always either match the color of the center stone, or be slightly darker to accent the higher color of the center stone.”
I see now!
Mike,
I snoozed on the diamond you found trying to sneak around for this proposal. If you have a free minute, can you suggest another in this range?
Thanks as always,
Keith
No problem. I like either one of these:
http://www.jamesallen.com/diamonds/H-SI2-Very%20Good-Cut-Round-Diamond-1443741.asp
http://www.jamesallen.com/diamonds/G-SI2-Very%20Good-Cut-Round-Diamond-1452343.asp
http://www.jamesallen.com/diamonds/I-SI1-Ideal-Cut-Round-Diamond-1363421.asp
SOS…need advice in next 24 hours…is this stone eye clean? is it a good buy? need your expert advice!!!
If you prong the inclusion on the side, then yes. I don’t think the small black inclusion in the center will be eye visible.
thank you mike. what are your professional thoughts on this stone? it will sit in a 6 prong platnium tiffany style setting. is a heart and arrow premium worth the price or better value to go with excellent cut? any reason this stone has a year old cert? why is it getting passed up? i love the color and cut and the fact that it is a “light” carot weight at 1.42…worried about the eye clean factor and how old the cert is. any advice ASAP…need to decide for V day time frame. THANK YOU!!!!
It’s a fantastic stone. I recommend it 100%. No idea why the cert is old, but you shouldn’t let that stop you.
http://www.jamesallen.com/diamonds/I-SI1-Very%20Good-Cut-Round-Diamond-1370553.asp
thank you mike which do you like better…better value etc. the heart and arrow or above stone.
Oooooo. Tough call indeed. Maybe have JA’s gemologists compare them side by side and let them pick. Too close to call with these pics alone.
Hi Mike,
Need some advice here. I wanna buy a bracelet half tennis – around 10 x 0.5 carats and a ring with 1.5 – 2 carats. But since I can only buy one at a time (budget for each is 22k), Which one you suggest me to buy first? considering some say that diamond price will go up over next years and that bigger stones price will move up faster (is it true?) I will buy the other item in 2 – 5 years
I thought maybe safest to buy the 1+ carat with certificate eventhough one without certificate is cheaper. But, do you think I need to buy the 0.5 carat with certificate too?
I really like color G – H and ideal cut, clarity does not matter so long not visible. Because I already have several ring, earring, pendant that look reasonably white, only they are smaller stones. Some that I see in stores look bit yellowish to mine, they say it I-color. But maybe the seller did not tell the truth, because the yellow tint is noticeable.
Thanks a lot.
Hi Carol. You’re right in noting that large stones increase in price faster than smaller stones. So using that rationale, it would make sense for you to buy the ring first. You don’t need to worry about getting the 10 1/2ct stones certified as long as you buy them from a reputable source.
I just want to say, though, that your budget for the bracelet is way off. I could help you get 10 x 0.5ct great stones, and it would cost you less than half of what you’re budgeting for it. So maybe you can get both at the same time?
Hi Mike, yea, the price has increased. *sad*
Re the bracelet, that is my max budget in case I have to spend on certificated ones. Btw, would like to see those stones, would you please send me the link?
I am not in US, though, dont know if they do shipping internationally and whether I can receive them safely? If not I must wait till friend go to US. Looks like here in internet is more affordable.
No links to the 10×0.5ct. It’s just the price I know I could get them for from colleagues.
As for larger stones, here’s what I like:
http://www.jamesallen.com/diamonds/G-SI2-Ideal-Cut-Round-Diamond-1431653.asp
http://www.jamesallen.com/diamonds/H-SI2-Ideal-Cut-Round-Diamond-1447129.asp
http://www.jamesallen.com/diamonds/G-SI2-Ideal-Cut-Round-Diamond-1430090.asp
http://www.jamesallen.com/diamonds/H-SI2-Ideal-Cut-Round-Diamond-1460547.asp
Thanks Mike.
I will go check.
Btw, do you have advise or links for 1.5 – 2 ct stones?
Just in case you come across one. Thanks
hi mike,
me again
FYI LOVED the recent NYC times square stone video that Ira did. i’m looking for a round brilliant, around 1.5 C eye clean, stone that’s “color” will work with tiffiany platnium setting. floro is OK as long as its not milky/ cloudly. budget 9,500. really want mucho sparkle….maybe excellent cut. Basically, want the biggest size and sparkle for my buck. your thoughts? or, i’m not in a rush to buy…should i wait til after Valentines day for better selection and price?
Hey Meg. Glad you liked the video! Here’s what I like for you:
http://www.jamesallen.com/diamonds/J-SI2-Ideal-Cut-Round-Diamond-1451232.asp
That’s as clean of an Si2 as you’ll ever find. Amazing stone.
Hi Mike,
I am planning to buy this stone:
http://sg.bluenile.com/build-your-own-diamond-ring?forceStep=DIAMONDS_STEP&builder=BYOR&pid=LD02420621
Is this good value for money? Should I be concerned with the “Crystal” and “Cloud” clarity on the cert?
Are there any alternatives similar to the link? Looking for 0.80-0.90 carat, D-E, VS1-VVS1 and 3-EX in cutting. Budget is USD 6-8K including setting.
Waiting for your kind reply. Thanks.
Hi JOhan. You’re wasting money on too-high clarity. See this: http://www.youtube.com/watch?v=G_y44frw9I0
I’d be happy to help you find a beautiful eye clean stone with a lower clarity. With your budget, you can find something significantly larger.