Loose Diamonds

With a little bit of work you can find and buy loose diamonds at a fraction of the price of retail.  The key is to shop around and to look at internet jewelry stores.

I know it seems odd to think of buying a diamond online.  After all, you can't actually touch the diamond.  But many online stores offer detailed pictures of all loose diamonds.  They also include the diamond grade, usually certified by an independent group such as the Gemological Institute of America (GIA) or American Gem Society (AGS).  If the online store (or offline for that matter) that you visit does not offer a grade and certificate from a reputable grading company you should not buy a loose diamond from that store.

A grading certificate typically covers the "4Cs" of diamond quality.  First is cut, which is determines the brilliance of the diamond.  Look for a high grade cut to ensure your diamond will stand out.  The second C is clarity, which grades internal flaws (also called inclusions) on a diamond.  These flaws get into the diamond during the formation of the diamond.  Clarity is measured by the number of inclusions and the size.  The third C is color.  A colorless diamond reflects more light and creates the brightest sparkle.  It's very expensive to get a completely colorless diamond, but get as close as you can.  The fourth C is easy to understand - Carats.  Some people think this is the size of the diamond, but it's actually the weight of the diamond.  Because larger diamonds are rare, expect the price of a 2 carat diamond of equal quality to be more than twice as expensive as a 1 carat diamond.

One great place to find diamonds online is Goldspeed.com.  Don't let the name fool you, they offer much more than gold!  Click here to visit Goldspeed.com.