How to Buy a Diamond
When you're buying a diamond, consider four criteria, often referred to as "the 4C's" - cut, color, clarity and carat weight. Each factor affects the price.
Cut not only refers to the shape of the diamond, but also to the size, angle, uniformity and polish of the facets.
Color is sometimes "graded" on a scale. However, scales are not uniform: a "D" may be the best color for one scale, but not for another. Make sure you know how a particular scale and grade represents the color of the diamond you're considering.
Clarity refers to the presence or absence of internal flaws, called inclusions, that occur naturally within the stone, or to external blemishes, such as scratches or chips. A diamond can be described as "flawless" only if it has no visible surface cracks or other imperfections when viewed under 10-power magnification by a skilled diamond grader.
Carat weight may be described in decimal or fractional parts of a carat. If the weight is given in decimal parts of a carat, the figure should be accurate to the last decimal place. For example, ".30 carat" could represent a diamond that weighs between .295 - .304 carat. Some retailers describe diamond weight in fractions and use the fraction to represent a range of weights. For example, a diamond described as ½ carat could weigh between .47 - .54 carat. If diamond weight is stated as fractional parts of a carat, the retailer should disclose two things: that the weight is not exact, and the reasonable range of weight for each fraction or the weight tolerance being used.
Jewelry Shopper's Checklist
Once you're ready to buy jewelry, shop around. Compare quality, price and service. If you're not familiar with jewelers in your area, ask family members, friends and co-workers for recommendations. Also, when ordering online and you've never heard of the seller, check on its reputation with the Better Business Bureau or the state attorney general's office. You also should:
* Ask for the store's refund and return policy before you buy. When ordering online, keep printouts of the web pages with details about the transaction, including refund and return policies in case you're not satisfied.
* Check for the appropriate markings on gold jewelry.
* Ask whether a gemstone is natural, laboratory-created, or imitation.
* Ask if the gemstone has been treated. Is the change permanent? Is special care required?
* Make sure the jeweler writes on the sales receipt any information you rely on when you make your purchase, such as the gemstone's weight or size. Some jewelers also may supply a grading report from a gemological laboratory.
For more information, call the FTC toll-free, 1-877-FTC-HELP, and ask for the publication, All That Glitters: How to Buy Jewelry.
Source: US Federal Trade Commission