Famous diamond

­­The world's most famous diamonds are its largest diamonds. At staggering weights up to thousands of carats, these diamonds have been cut, re-shaped and sold many times, contributing to their rich, interesting histories. Despite diamond's natural, clear brilliance, some of these stones have a dark side.

• The Cullinan - This 3,106-carat diamond is the largest diamond ever found. It was discovered in 1905 in Transvaal, South Africa. In 1907, the diamond was presented to King Edward VII of England. Later, it was cut into nine major stones, including the 530.20-carat Star of Africa diamond that is set in the Royal Scepter displayed in the Tower of London.
• The Hope Diamond - Possibly the most famous diamond in America, this 45.52-carat diamond is on display at the National Museum of Natural History in Washington D.C. Its history dates back to the 1600s, when it was originally a 112.1875-carat diamond. In 1668, it was purchased by King Louis XIV, of France. It is believed to have been originally found in the Kollur mine in Golconda, India. The diamond was recut in 1673, creating a smaller 67.125-carat stone. You can learn more about the Hope Diamond at the Smithsonian.
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• The Excelsior - Perhaps the second-largest diamond ever found, the Excelsior was found in 1893 in South Africa. The original stone weighed about 995 carats. In 1904, I.J. Asscher and Company of Amsterdam cut the Excelsior into 21 polished stones weighing between 1 and 70 carat­s.
• The Great Mogul - Believed to be the third-largest uncut diamond ever found, it was discovered around 1650. Its original size is said to have been 787.50 carats, but it was cut to just 280 carats. The diamond is named for Shah Jehan, who built the Taj Mahal. After the diamond was cut, he fired the cutter for doing such a poor job. Mysteriously, the whereabouts of the Great Mogul diamond are unknown today.

Color

What exactly is diamond color? While most people think of the classic, transparent diamond, which happens to be the most rare and valuable, the colors of diamonds actually range from transparent all the way to a brownish color. There are different saturations of diamond color, and tones.

The Gemological Institute of America, known as the GIA for short, is the most commonly used system for evaluating diamond color. They’ve created something known as the “GIA Color Grade Scale”, and it has placed a grading system on the many different colors and shades of diamonds, classifying into 22 letter grades.

How Diamonds are Graded

The Gemological Institute of America has certified diamond color grades as “master color comparison” diamonds. When a diamond is being graded, it is compared against these master color comparison grades, to find the shades that match it most closely. The diamond that is being graded must be thoroughly cleaned and all oil must be removed from the surface before being examined, since even small amounts of dirt or oils on the surface of the diamond can alter the color.

A line of master color comparison diamonds or shade chart is set up, with each grade placed about one inch apart, ranging from the lightest and highest graded D shade, to the darkest, graded Z diamonds. The diamond color that is being graded is moved from the left side of the comparison units to the right, until it matches one of the shades.

Diamond grading should take place in a colorless environment, using a balanced fluorescent light source that has a filtered, cool white sun like ray. The room where the grading takes place is dark, all except for the special grading light, in order to obtain the most accurate grading of the diamond color.

Fluorescence of Diamonds

Yet another consideration when considering the diamond color is diamond fluorescence, and how it will effect the actual appearance in the diamond color. Fluorescence causes some diamonds to change color when viewed in our everyday, ultraviolet lighting, as well as under fluorescent light bulbs.

When a diamond color is graded, the strength of the fluorescence of that diamond must also be indicated. It may be considered to be strong, moderate, or weak fluorescence, and the reports must also indicate what color the diamond will change to due to the fluorescence. The reason for this is when people are in the jewelry store, looking at diamonds in the special lighting of the store, they may all appear to be the colorless, transparent diamonds. When you purchase a diamond and get it home under normal lighting, you could find your diamond is yellowish in color!

You can ask your jeweler to provide grading documentation and information about the fluorescent value of a particular diamond before purchasing, to make sure that you will be happy with the diamond you buy. Many jewelers also can show you the diamond under different lighting conditions, which will enable you to fully appreciate the beauty of the diamond before you buy it. Some individuals like a diamond color with a darker shade, while others are insistent on the transparent diamond color. The diamond color is one of personal preference, so be sure to do a little research before making your final selection.

Cost of Diamond

If you are in the market to purchase a diamond, you’ll be learning all about the 4 C’s of diamonds; cut, color, clarity and carat. But in the mind of the average buyer, there is a fifth “c” that just may be the most important of all them: the diamond cost.

The actual price of a diamond is determined by a grading system that takes into account the cut of the diamond, the color, the clarity and the number of carats. There is a non profit organization called the Gemological Institute of America (GIA) that has devised the official grading system of diamonds, and because of that system, a diamond that is of more carats may cost less than a smaller diamond if the larger diamond has inferior cut, clarity or color ratings. Cost is also determined by the retailer.

Buying Diamonds Online

The internet provides a wealth of information on diamonds, educating buyers on the value of diamonds based on size, shape and clarity- and luckily, diamond cost is regulated by industry guidelines. This means you can shop for your diamond gem stones online with as much confidence as you would shopping for jewelry at your local retailer, especially if you take the time to become knowledgeable about diamond cost before beginning your search for the perfect stone.

Guide to Diamond Cost

Every jeweler sets their own prices on their gem stones, rings, necklaces and other items. When dealing with diamond cost, it also depends on the shape of the diamond. A ”round brilliant” shape will tend to cost more than an ”emerald” shape even when they are the same quality and the same size.

If you have a minimal budget, such as $500 or less, you can expect to find a diamond with a carat weight between .15 and .25, set in a 10-14k gold. If you’re in the market for a diamond cost of $500 to $750, you can expect to be able to purchase one between .20 and .37 carats. If you are looking for a 1 carat diamond, you should expect your diamond cost to range between $2000 and $3500.

Get the Most Diamond for Your Money

When you are researching diamond cost, there are many more factors to consider than just the size of the diamond. Remember that the shape (cut) of the diamond will greatly effect the diamond cost, as well as the clarity of the diamond. You can get multiple, smaller diamonds for less cost than you can a single, larger diamond due to the rarity of mining a larger sized diamond. Sometimes a diamond will be beautiful to the naked eye, and have a reasonable diamond cost- but it may have a lower rating for quality or tone given by the GIA. When you are shopping for your diamond, you’ll need to decide what is more important to you; the diamond cost, the size of the diamond, the quality (the rating as given by the GIA), or how it looks when it’s worn!