Value the Diamond with 4Cs

The question often asked by the public these days is not what are the 4Cs? De Beers has done quite a good job in educating consumers to the basics about the 4Cs.
But a pertinent question raised by one astute viewer on a CNBC program we participated in was "Which of the ‘C’s is the most important?" As the short time allotted on the program was insufficient to answer the question adequately, we will try to elaborate herewith.
An easy way out would be to say all are important. But the reality is that most consumers cannot afford a 10 carat "D" flawless — they have to compromise on some of the Cs to stay within budget. In this case, which standard of measure should be compromised? Lets look at each "C" one by one in terms of benefits and value and recognition to the layman.

Carats

A larger diamond, indicated by carat size, is rarer and therefore more valuable. Carat size is also the most viable of the 4Cs. You don’t need any gemological education to see the difference between a one carat and .50ct. As a result, carat size is also the measure that friends and future mothers-in-law spot first. To be safe, it is always advisable to buy a diamond at least as big as the average in the social circle of the women wearing it. So compromising on size is sometimes impossible.

Color

The diamond’s color ranks second in easy visibility. The difference between a colorless diamond and Cape are quite obvious especially when put next to each other. Even the difference between a D and an H can be observed when compared side by side. Another factor is how the lighting affects the color. Some special bulbs used by unethical sellers make all diamonds look "blue-white" Still, with a little guidance, color can be seen with the naked eye — without a loupe or microscope. But close grades are often confused, even to the point that a color "re-check" is commonly performed by the Gemological Institute of America. In today’s market, most American consumers insist on a color of "I" or better even if it means a smaller stone.

Clarity

A stone’s clarity affects the beauty of a diamond more than size and color it also makes it rarer since only one in millions of diamonds has little or no flaws or foreign materials. Still, most polished diamond are "eye-clean." The fine points dividing VVS VS SI diamonds are only seen by the customer once in his lifetime during the purchase when the honest sellers points them out on a microscope or loupe. But the knowledge of "purity" of a diamond is almost mystical. "I want her to know that she is almost perfect and worth it," explained one romantic young man as selected a diamond for his fiancee.

Cut

Recently, there has been an increased emphasis on the significance of a diamond’s cut. But while any experienced diamond dealer will immediately spot a poorly made stone, the fact remains, that there is far from universal agreement on the objective definition of a fine cut diamond. Indeed, the vast majority of diamond dealers in the world have never taken a GIA course and would find it hard to tell which diamond has a 57% table and which a 60% table. Most would also find it insulting to define a diamond by numbers much as a woman would not want to be defined by measurements. So why has "cut" gained such prominence of late? For one thing, simple, accessible technology now exists that can easily "map" a diamond’s cut and provide fuller information to the consumer. Jewelers are increasingly employing this technology to distinguish stones and justify premium prices. Still, in our view, the 4Cs rank according to the ability of the consumer to recognize a stone’s beauty or shortcomings. But as consumers learn more about "cut," this criterion my move up in the ranks of its importance to the consumer.