Everything You Need to Know Before You Buy    by Wendy Townley Time to buy an engagement ring? Time to make some plans. Purchasing the perfect engagement ring doesn't happen by accident or chance. It's more about doing your homework, knowing the terminology surrounding engagement rings and understanding how much you can afford to spend. As you begin your search for an engagement ring, you'll hear several phrases, such as "the four Cs," along with ring descriptions (white gold, yellow gold and platinum, to name a few). The key to making it through this process is to arrive at the jeweler’s counter armed with information and a general idea of what you—and your future wife—want in an engagement ring. Time on your side The moment you decide you want to propose, you probably want to ask the question that very moment, with the words leaping out of your mouth and straight from your heart. But hang on just a second. When it comes to shopping for (and purchasing) engagement rings, you need to have a little time on your side. "The task of finding the right ring is taken seriously by most men, and they expect, and want, to make the final decision," said Frank Proctor of the Luxury Brand Group. "Most men shop for one to three months before buying the ring. However, to some men, the research process may very well be a 12- to 16-week process." When you begin planning the proposal and purchasing her engagement ring, factor in time to not only shop for the perfect ring, but also to learn the most you can about what you’re buying. All about shape It used to be that the majority of engagement rings were sold in one simple shape: the round stone. For years, what some referred to as the "Tiffany" setting prominently displayed a perfectly round diamond high atop a woman's finger. Jewelry designers around the world, however, have started offering their engagement rings in shapes that are anything but round. The Asscher-cut diamond, for example, has been popping up on fingers of engaged women for the past several years. The stone is square in shape and offers a brilliant sparkle that catches the eye. Its popularity was born in Hollywood and has extended its reach to all corners of the country. The cushion-cut or "pillow-cut" diamond is another popular option for engagement rings. The cushion-cut stone has a rectangular to square shape, rounded corners and larger facets to increase their sparkle and shine. The princess-cut diamond is also square in shape with four pointed corners. When purchasing a princess-cut diamond, however, ensure the stone’s setting will protect these corners from chipping. It is best for a princess-cut stone to be set using a four-pronged setting. The emerald-cut diamond uses a stepped-cut setting. As you look into the stone, you will see different "tables" inside the diamond. The different steps act like mirrors when reflecting natural light. Compared to other cuts, the emerald-cut diamond can be lower in price, depending on where you purchase the stone. Conquering the four Cs You may have heard the phrase "the four Cs" spoken a time or two when referring to diamonds. The four items—carat, color, cut and clarity—are designed to ease the diamond-buying process. Each "c" represents a different aspect of the stone's quality, and, as a result, has a direct impact on how much you will pay for that diamond. The size of a diamond, known as its carat, isn't about the actual size of a stone. Rather, a diamond's carat determines its weight or how heavy it is. A stone's weight can't always be detected easily by the naked eye. A point system is used when measuring weight. For example, a 50-point diamond also is considered a half-carat diamond; or, 100 points, for example, equals one carat. If the diamond contains flaws and inclusions, however, the stone's weight won't mean as much. "He'll want to understand the four Cs and how each of those will impact the price of the diamond that he wants to get," jewelry expert Michael O'Connor said. O'Connor puts it this way to easily understand and identify what the four Cs really mean to you and the diamond you're buying: Color: In white or colorless diamonds, this actually means the absence of color. The whiter the diamond, the more expensive the stone. Cut: The angles and proportions of the diamond that help maximize the fire and brilliance. A stone’s cut has much to do with the amount of sparkle and shine it reflects when worn on the hand. Clarity: The absence of any internal marks or inclusions in the stone. Carat weight: The weight of the diamond that often correlates to the size. Jewelry designer Berge Abajian of Bergio says that determining what "c" is most important in the diamond you purchase is as simple as asking your jeweler the right questions. "In some cases, he has to understand that if the color of the stone is high and the clarity of the stone is high, the cut can play a better role than the cut and the clarity alone," Abajian said. "And sometimes a stone with a bad cut can be worth less money. He has to understand that color, clarity and cut of the diamond is very, very important." Regardless of what cut or size of stone you end up purchasing, the diamond's color, when compared to a simple white piece of paper, for example, is what stands out the most. The more colorless a diamond is, the greater its rarity and value. Diamonds are measured on a color grade. Stones that have a D, E or F rating are colorless and, by definition, more expensive. Near colorless stones have a rating of G, H, I or J. Faint yellow diamonds are rated at K, L or M. The farther down the alphabet you go, the more yellow tint the stone has. Very light yellow stones are rated at N, O, P, Q or R. The least expensive diamonds—and those with the most hues of yellow and some grays—have ratings of S through Z. It's important to note that truly flawless diamonds—which can be determined only through the careful eye of a jeweler's loupe—are extremely rare. Finding colorless diamonds with a D rating will contain an inclusion or two. An inclusion, simply put, is a minute crystal, feather or cloud that exists naturally in the stone. When purchasing the diamond, it's important to determine the stone's clarity grading. An FL rating means the stone is flawless; IF means internally flawless, with only minor surface blemishes; VVS1 and VVS2 means the diamond has very, very slight inclusions; VS1 and VS2, as expected, means the stone has some inclusions; S1 and S2, slight inclusions; I1, I2 and I3 means the stone is imperfect, and its inclusions are visible to the naked eye. When it comes to diamonds, one thing to keep in mind is that not all diamonds are clear in color. A white hot trend in diamond jewelry—and engagement rings—is a colored diamond. Diamonds also are being sold in hues such as warm yellows and pretty pinks. Such options can keep the tradition of a diamond ring while mixing up an updated and modern look to the overall look of the piece. Go to page 2