Six keys to buying a diamond ring.

When you were a kid, your dad probably gave you pointers on how to buy a car. Too bad he didn’t teach you how to buy a diamond as well. An engagement ring can cost more than your first car, so knowing your way around a jewelry store can save you thousands of dollars. Here are six tips that will ensure you don’t get stuck with a lemon:

Forget about the silly guideline that says you should spend two-months’ salary on your fiancé's rock.

That so-called rule was a marketing ploy developed by the diamond industry back in the 1940s to guilt guys into paying more than they could afford. If it puts your mind at ease, retailers say the average customer spends around $2,500 on a ring, which gets you between a quarter and half carat, depending on grading.

Diamonds are graded on criteria known as the four Cs: carat, cut, color and clarity.

Carat is the weight, cut is how well the diamond was shaped, color is how clear it is and clarity indicates the number of imperfections in the stone. Trouble is there are several grading systems out there, so it’s hard to compare a diamond at one store to another. “There’s a lot of abuse to this,” says Paul Lombardi, master gemologist.

Anyone operating below a millionaire’s budget should devote most of his attention to two of the four Cs — cut and color.

These are the two factors that have a direct impact on the amount of sparkle a ring gives off, which is how most non-experts judge a ring’s beauty. Buy a diamond with at least a “good” or “very good” cut grade from the GIA. Color refers to how much of a yellowish tinge is visible. Diamonds are graded from D to Z, with D being the best because it’s colorless. But an E or F diamond will do just fine, says Lombardi.

Save money by being choosy in the size of stone you buy.

Diamond prices spike at predetermined weights, such as a quarter carat, half a carat and one carat. Diamonds that are slightly smaller than those benchmarks are significantly cheaper. For example, a ring that's 0.98 carats costs about $4,000 less than its one-carat equivalent (which goes fro $16,000). The difference in size isn't noticeable.

Stick with round diamonds.

They never go out of style and they sparkle and glitter more than any other shape. A round diamond should have 58 facets, because that gives off the most sparkle,  Some jewelers claim their rings are better because they have up to 144 facets; don’t believe them.

Before you buy, take the ring out of the light.

Jewelry stores have bright lamps over their sales counters for a reason. Even an average diamond will glitter like a priceless gem in strong light. The correct way to judge a diamond is to look at it under indirect light. “If it’s a good diamond,” says Lombardi, “it will still have plenty of sparkle.”

Once you have established those 4C characteristics that are most important to you,
a jeweler can then begin to show you various options with quoted prices.

THE DIAMOND QUALITY PYRAMID
A Tool to Help Understand a Diamond's Value

CARAT
Refers to the weight of a diamond.

Carat is often confused with size even though it is actually a measure of weight.
One carat is equivalent to 200 milligrams. One carat can also be divided into
100 “points.” A .75 carat diamond is the same as a 75-points or 3/4 carat diamond.

A 1-carat diamond costs exactly twice the price of a half-carat diamond, right?
Wrong. Since larger diamonds are found less frequently in nature,
which places them at the rarest level of the Diamond Quality Pyramid,
a 1-carat diamond will cost more than twice a 1/2-carat diamond
(assuming color, clarity and cut remain constant).

CLARITY
Refers to the presence of inclusions in a diamond.

Inclusions are natural identifying characteristics such as minerals or fractures,
appearing while diamonds are formed in the earth. They may look like tiny crystals, clouds or feathers.

To view inclusions, jewelers use a magnifying loop. This tool allows jewelers
to see a diamond at 10x its actual size so that inclusions are easier to see.
The position of inclusions can affect the value of a diamond.
There are very few flawless diamonds found in nature, thus these diamonds are much more valuable.

Inclusions are ranked on a scale of perfection, known as clarity,
which was established by the Gemological Institute of America (GIA).
The clarity scale, ranging from F (Flawless) to Included (I),
is based on the visibility of inclusions at a magnification of 10x.

Some inclusions can be hidden by a mounting, thus having little effect on
the beauty of a diamond. An inclusion in the middle or top of a diamond
could impact the dispersion of light, sometimes making the diamond less brilliant.

The greater a diamond's clarity, the more brilliant, valuable and rare it is—
and the higher it is on the Diamond Quality Pyramid.

COLOR
Refers to the degree to which a diamond is colorless.

Diamonds range in color from icy winter whites to warm summer whites.
Diamonds are graded on a color scale established by the
Gemological Institute of America (GIA) which ranges from D (colorless) to Z.

Warmer colored diamonds (K–Z) are particularly desirable when
set in yellow gold. Icy winter whites (D–J) look stunning set in white gold or platinum.

Color differences are very subtle and it is very difficult
to see the difference between, say, an E and an F.
Therefore, colors are graded under controlled lighting
conditions and are compared to a master set for accuracy.

Truly colorless stones, graded D, treasured for their rarity, are highest on the
Diamond Quality Pyramid. Color, however, ultimately comes down to personal taste.
Ask a jeweler to show you a variety of color grades next to one another to help you determine your color preference.

CUT
Refers to the angles and proportions of a diamond.

Based on scientific formulas, a well-cut diamond will internally reflect light from
one mirror-like facet to another and disperse and reflect it through the top of the stone.
This results in a display of brilliance and fire, thereby placing well-cut diamonds higher
on the Diamond Quality Pyramid than deep or shallow-cut diamonds.
Diamonds that are cut too deep or too shallow lose or leak light through the
side or bottom, resulting in less brilliance and ultimately, value.

Cut also refers to shape—round, square, pear, or heart for example.
Since a round diamond is symmetrical and capable of reflecting nearly
all the light that enters, it is the most brilliant of all diamond shapes and
follows specific proportional guidelines. Ask a jeweler to find out more about these guidelines.

None-round shapes, also known as “fancy shapes,” will have their own guidelines to be considered well-cut.

What to Spend
Diamond Buyer's Guide

When you start to think about buying a diamond—and the love it will symbolize—
you naturally want the best you can afford and a beautiful stone you will treasure forever.

Hartgem.com can be found in a range of price—and you're certain to find one
within the Diamond Quality Pyramid that suits your taste and what you plan to
spend. If you're about to buy a Diamond Engagement Ring, you may want to
consider spending the commonly accepted guideline of two months salary.
But it's up to you to settle on a diamond that will truly represent your
deepest emotions and the promise for the future you will share.

A good jeweler is the first step to a smart diamond purchase. To find a jeweler
you can trust, ask your family and friends for recommendations.
Your jeweler should be knowledgeable about diamonds and help
you feel comfortable making this important purchase.