How Much to Spend on your Diamond jewelry?

Diamonds have long been recognized the world over as symbols of love and one reason for this could be diamonds are indestructible. There are people, who are zealously in love, willing to spend a few months’ salary for an engagement ring. Each person should spend whatever you can afford to buy diamonds. Please bear in mind that buying a diamond is a permanent investment. It is often said ‘Diamonds are forever’.

Please note that buying loose diamonds or diamond jewelry such as diamond rings, diamond pendants, necklaces, or tennis bracelets is a serious business as you are investing in an item of tremendous value. It is therefore essential that you protect your investment by obtaining a certified diamond appraisal. A diamond appraisal will provide the specific details of your diamond such as the weight in carats, cut size and shape, clarity, and appraised value.

More than spending on the diamonds, you must learn to protect the diamonds. It is advisable to include diamond jewelry in your property insurance. When insuring the diamond, you will know exactly what the value is and how much coverage to obtain if you have a certified appraisal. Further, if your jewelry is damaged or lost, you will be able to replace it according to its actual value.

In the extreme event of your wishing to sell your diamond jewelry, an appraisal will help you to get best price in the market. It is safest to obtain a certified appraisal from a qualified Gemologist who has a Gemologist Institute of America (GIA) degree specializing in diamonds. This guarantees that your appraisal is accurate and valid.

As diamond jewelry is more an investment than a mere purchase, you must learn about diamonds beforehand, to make an informed purchase. It is necessary to know about the basic Four Cs of diamonds - Cut, Color, Clarity and Carat weight. 

Cut is a measure of the diamond's radiance and cut refers to how a diamond's facets are created to maximize the quantum of light that is absorbed, redirected and released.  Color is another important factor though colorless diamonds are the ones most sought-after and the most expensive. Diamonds range from brown followed by a whole range of whites and yellows in between.  Avoid diamonds that appear milky.

Clarity indicates how flawed or immaculate the diamond is.  Needless to say, immaculate diamonds rare and hence expensive.  Avoid any stones that have black spots visible to the naked eye or diamonds that have chips, cracks or feathering when seen under a gem scope. 

Carat weight of a diamond is based on a scale of 100. If a diamond with 100 points is said to be one carat.  A 25 point diamond is a quarter carat, and a 50-pointer is a half-carat. Actually, Carat is less consequential as it is far wiser to have less-flawed, elegantly cut, colorless diamond of a much smaller size than a four carat that has no brilliance and of inferior quality. 

Buying diamond jewelry or loose diamonds largely depends on one’s affordability and budget restrictions. It is easy to lose sight of spending limitations in the glamour and prestige of diamond jewelry.  You have to set your budget firmly before venturing out to buy diamond jewelry or loose diamonds and ensure you are not unduly tempted.