Ms. Matlins: There are 100 points to a carat, but the cost of a diamond increases significantly when it reaches the full carat mark, and for each carat thereafter. So try to find a diamond that weighs 90-points (9/10ths carat), for example, rather than a full 1-carat, or 1.90 carats rather than a full 2-carats, and so on. When set, no one can see the difference, but you'll enjoy a big savings in cost.
If size is important to you:
Consider shapes other than round. While the round, brilliant-cut diamond is considered by most to be the cut that exhibits the most brilliance, it normally looks smaller than diamonds cut in other shapes. Consider an oval, pear-shape or marquise, all of which will look larger than the round.
Consider a design that uses several stones rather than one large diamond. A fine diamond weighing one-carat, set in a classic Tiffany-style setting, might cost $7,500, while the cost of a ring containing three stones with a total weight of one-carat, only $3,250; or a diamond band containing nine diamonds with a total-weight of one-carat could be less than $2,000.
Using wider, innovative designs can create a very impressive look for a diamond under 1-carat, especially if your fiancée's fingers are very large or unusually long and you are concerned that a smaller diamond will look out of balance on her hand.
Carly: Diamonds in the top color grades are much more expensive than lower grades. How about some tips to help us evaluate diamond color?
Ms. Matlins: If you think you can't afford a colorless diamond (D-F), don't fret. Within the top 10 color grades, most diamonds still look very beautiful when mounted. Setting the stone in white gold or platinum can make it appear whiter. Or, if the stone has a noticeable yellowish tint, try setting it in yellow gold—the diamond will look whiter and the tint will be much less noticeable.
Carly: Do you have any final words of advice for us?
Ms. Matlins: A diamond does not have to be Flawless to be beautiful and precious. Don't ignore diamonds in the slightly included (SI) range. In a brilliant-cut diamond--round, oval, pear-shape, marquise, heart-shape--no one can see any difference between a stone that is graded flawless and one graded SI, even though the SI is 7 grades lower. There is absolutely no visible difference. It is much less rare, but no less beautiful.
You won't see the flaws in a well cut stone, but you will see big savings! And as a symbol, what could be more appropriate for marriage...being able to see and appreciate the beauty within, despite a few, unimportant imperfections.
Carly: A big Thank You to Antoinette Matlins for helping us make educated decisions when buying a diamond engagement ring.
Antoinette L. Matlins, P.G., is an internationally respected gem and jewelry expert, author, and lecturer. Her books are widely used throughout the world by consumers and professionals in the gem and jewelry field alike.
Editor of National Jeweler magazine for almost a decade, her articles and comments on buying and selling gems, jewelry, and gem investment have appeared in many national and international consumer and trade publications.
Trained by her father and co-author, Antonio Bonanno, she has gained wide recognition as a dedicated consumer advocate. Ms. Matlins has spearheaded the Accredited Gemologists Association's nationwide campaign against gemstone investment telemarketing scams. She has been seen on ABC, CBS, NBC, and CNN, educating consumers about gems and jewelry and exposing fraud.
