A Guide to the All-Important Ring Purchase    by Leigh Johnson Ways to negotiate the diamond price Once you understand what goes into rating diamonds, it's time to think about buying your own, and one thing is clear: There's a lot to think about. What you want and where your priorities are will become clear as you comparison shop. "We like to think about consumers getting a good balance that appeals to them," says Philip York, Product Manager for Diamonds for GIA. "What is the most important issue to them? Color? Clarity? Cut? Carat?" Once you determine what factors are important to you, you'll be better able to negotiate based on our desires for your ring, not on the salespersons desire to sell you a particular one. You may discover, for example, that a 3/4-carat stone is the perfect size, and nothing less will do. You should set the carat weight as your constant and decrease other value factors until your ring falls into your price range. Of course, if you drop too far down the scale, then you may end up with color that's a bit cloudy or a stone with an obvious inclusion (internal flaw). "You have to draw your cut off point," York says, "since you want to trade quality for price without ruining the value of the whole." What adds value to your diamond We've all see them: the Hope Diamond, the Tiffany Diamond and other tremendous gems as big as a fist. But these gems are not valuable simply because of their size; they are a combination of quality in all the previously mentioned categories as well. This is not to say that large diamonds are not valuable in themselves; generally speaking, you will find that per carat, larger diamonds cost more than smaller ones. If you compare the price per carat of a two-carat stunner and a half-carat gem, the price per carat will almost always be more in the two-carat piece. This is because of the concept of clarity, a crucial piece of the diamond-buying puzzle. Although diamonds are relatively common, diamonds with particularly desirable characteristics, such as a high carat weight, flawless clarity, and so on, are rarer, and are therefore more expensive. As you comparison-shop with reputable jewelers, you should see that the diamonds become less expensive as their characteristics become more common. The value of comparison Atman emphasizes that unless you have seen actual stones that you are able to compare with your own eye and determine what color grade, clarity, cut and carat weight would really be satisfying to you and what fits in your budget, you will not be fully informed during the buying process. No amount of reading and research can compare to actually seeing the gems side by side with your own eyes and examining their rating certificates. Do your comparison-shopping at a number of reputable jewelry stores. While you're shopping, don't be intimidated by the atmosphere in some very elegant jewelry shops. As Atman points out, "All that elegance is there to enhance the jewelry, but it should no intimidate the consumer." If you've done your research, it won't. Choosing a jeweler Even though you've educated yourselves in the jewelry industry and done some comparison-shopping on your own, a good jeweler who will guide you through the buying process will be an important asset. The jeweler should show you different stones and make sure you're comfortable with the quality you're getting. The key thing is to enjoy the experience, according to York. Buying the engagement ring is an emotional event in one's life, and you should find a jeweler who's willing to sit down and talk with you, who has the industry knowledge (a graduate gemologist or accredited jewelry professional), and who will find out what your parameters are and work with you to change grades until you feel good about the stone's size, color, cut and clarity. York suggests that you always ask for a written guarantee, a grading report and the credentials of the seller, as well as referrals from other buyers. You can find a searchable database of AGS-approved jewelers online at www.ags.org. You should now have enough knowledge to begin your journey to find the perfect ring. Use this information to negotiate the best deal, and use your newfound knowledge to keep cool in the face of high-pressure sales tactics. Above all, stay focused on the task at hand, and keep the romance alive even in the face of all practicality. Remember, the ring is a symbol of your love for each other, and that, friends, is priceless, no matter how much you spend on the ring. Go back