The 5Cs of diamonds

Cut:

The cut of a diamond refers to its proportions. It is one of the most important factors to be considered while choosing your diamond. It is an aspect which is directly influenced by man. The other three are influenced totally by nature.
The cut of a diamond should not be confused with its shape. Shapes are cut from the original rough diamond, and whatever the shape, a well-cut diamond is always better able to reflect light.
Diamonds are usually cut with 58 facets, or separate flat surfaces. These facets are placed at precise angles to each other. This relationship is designed to maximize the amount of light reflected through the diamond and to increase its beauty.
Rough stones can be cut to their maximum weight and monetary value but loses some "brilliance and "sparkle". Similarly rough stones can also be cut into the most beautiful stone, despite heavy weight loss and lowered monetary value.

1 Well Cut :
When a diamond is cut to proper proportions and light is reflected from one facet to another and then dispersed through the top of the stone. Within the well cut standards are the ideal, excellent and very good categories.
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Ideal Cut: This Cut combines the best in brilliance and fire.
Excellent Cut: Exhibits great beauty yet with a slight flexibility of percentages.
Very Good Cut: This range of cut balances precise proportions and price considerations.

2 Deep Cut :

If a diamond is cut too deep, light escapes through the opposite side of the pavilion.

3 Shallow Cut :

With a shallow cut, light escapes through the pavilion before it can be reflected.

CLARITY:

The clarity of a diamond refers to how clear, or "clean" the diamond is. Diamonds have imperfections which are present in its rough state. The clarity scale is a measure of the severity of those imperfections or "inclusions" as it is known in the trade.

In addition to internal inclusions, surface irregularities are referred to as blemishes. These two categories of imperfections-inclusions (internal) and blemishes (external)-make up clarity. The fewer the imperfections, the rarer and more valuable the diamond.

Clarity is graded using a very precise and complex method of evaluating the size, location, and visibility of inclusions.

Clarity is a measure of internal structural imperfections called "inclusions". Grades of clarity, which are mostly those used by Gemological Institute of America (GIA), are:

FL-Flawless:

Shows no inclusions or blemishes of any sort under 10 x magnifications when observed by an experienced grader.

IF-Internally Flawless:

Have no inclusions when examined by an experienced grader, but will have some minor blemishes.

VVS1, VVS2 - Very Very Slightly Imperfect:

Contains minute inclusions that are difficult even for experienced graders to see under 10x magnification.

VS1, VS2 - Very Slightly Imperfect:

Contains minute inclusions such as crystals, clouds or feathers when observed with effort under 10x magnification.

SI1, SI2 - Slightly Imperfect:

Contains inclusions such as cavities, knots clouds, feathers and included crystals which are noticeable to an experienced grader.

I1, I2, I3 - Imperfect:

Contains inclusions such as large feathers or large included crystals, which are obvious under a 10x magnification and may affect transparency and brilliance.

Color:

The best color is no color at all. Diamonds allow light to be reflected and dispersed as a rainbow of color. This light dispersion, or color flash, has no effect on the technical grading of color.

The absolute finest colorless stone carries a D rating, descending through each letter of the alphabet to Z, designating a diamond of light yellow, brown, or gray. This body color may be caused by the presence of trace elements, such as nitrogen, within the atomic framework of the carbon crystal.

As the body color becomes more intense, the grade for color descends the scale. It is always best to compare diamonds graded by either the Gemological Institute of America (GIA) or the American Gem Society (AGS) for accurate color grading.

For best buy option regarding color it is recommended to go for a diamond with a color grade of K or better.


CARATS:

The weight of a diamond is expressed in carats. The word carat originated from the carob tree or Ceratonia siliqua. The tiny seeds of this tree are well known for their uniformity and consistent weight. Traditionally diamonds and gemstones were weighed against these seeds until the system was standardized, and one carat was fixed at 0.2 grams.

One carat is divided into 100 points. A diamond weighing one quarter of a carat can also be described as weighing 25 points or 0.25 carats. Points are generally not used to describe weights over one carat.

It is very important not to mistake carat weight as referring to the dimensions of a diamond. It refers to weight only.

Prices of diamonds are expressed as price per carat. So when we say that carat weight has the biggest impact on the price of the stone, it refers to the unit price per carat, and not just the whole price of the stone.

Example: Diamond "A" = 0.25 carats and costs $1,000 per carat. $1,000 x 0.25 = $250/stone

COST:

The most important "C" you have to think about is COST. The few times you usually hear about cost, it is usually as a "salary guideline" or "buying tips" which may include "advice" to spend about two months salary on a diamond engagement ring.

Effect of each "C" on the cost:

Carat:

A Diamond of color G and SI1 Clarity grade will have a certain category of pricing when its range lies between 0.50 - 0.69 carats. When you take that same quality Diamond and increase its size to the next price category, which is the 0.70 - 0.89 carat range, the price increase will be approximately $1,100 per carat . If we further increase to the 0.90 - 0.99 carat range, the price increase will be approximately another $800 per carat . A further increase to 1.00 - 1.49 carat range, and the increase will be approximately another $800 per carat . A final increase to the 1.50 - 1.99 carat range, will increase the price per carat to $1200.

Color:

Supposing you have selected a 1.00 carat Diamond of K color and VS1 Clarity. If you move up to an H color, you will pay approximately an extra $1,700 per carat . By moving up to F color, the increase will be approximately $1,100 per carat . Again an improvement to D color will result in another increase of $900 per carat.

Clarity:

Starting with a 1.00 carat Diamond of G color and SI1 Clarity, if you move up to a VS1 grade you will pay approximately an extra $1000 per carat . Move up to VVS1, the increase will be approximately $700 per carat . Improve the clarity to IF and the increase will be approximately $700 per carat .

Cut:

Cut is a bit more complicated and depends on various factors, like the quality of Diamond being considered. Ideal cuts are generally much more expensive than the others. It all comes down on the quality of the cut, but lots of ceases have to be studied before making a final decision.

Finally we can see that a diamond's per carat price goes up when we go for higher clarity or better color grades. The price is also affected by the choice of carat range.