Myths About Diamonds 1

1. A DIAMOND IS FOREVER.

A diamond will only be forever if you take care of it. If you don’t a diamond can chip, fracture, or break. Even a diamond should come with a care instruction tag.

2. DIAMONDS ARE VERY RARE.

Nope! There is more of a man-made shortage than a natural shortage. The distribution of the number of diamonds put on the market each year is highly regulated. There are really enough diamonds to give each man, woman and child in the United States a whole cupful.

3. WOMEN ARE MORE SIZE CONSCIOUS THAN QUALITY CONSCIOUS.

This one is almost true, but not quite. Even though most women believe that bigger is better, there are still quite a few women out there that will sacrifice size to get a better quality diamond.

4. A DIAMOND IS THE MOST EXPENSIVE GEMSTONE.

The truth is there are quite a few more expensive gemstones on the market. For example, a top quality ruby can be worth over thirty thousand dollars a carat.

5. A LARGE DIAMOND IS ALWAYS WORTH MORE THAN A SMALL DIAMOND.

Size is only one criterion by which a diamond can be judged. A small, high-clarity, high-color diamond can cost more than a large, low-clarity, low-color diamond.

6. AFTER A DIAMOND HAS BEEN CUT, LITTLE DIAMONDS CAN BE CUT FROM THE SHAVINGS.

Usually there are no shavings, only dust. Most diamonds are ground down and there aren’t any little pieces left over to cut anything else. Most people believe a diamond is whittled, not ground down. This is another myth.

7. A FANCY SHAPED DIAMOND IS MORE DIFFICULT TO CUT THAN A ROUND DIAMOND.

All diamonds, to a certain degree, are difficult to cut, and some very large diamonds take more time and effort to cut than smaller diamonds do. But one diamond is not harder to cut than another just because of the shape.

8. DIAMONDS ARE A GOOD INVESTMENT.

Webster’s dictionary defines investment as “an outlay of money for income or profit.” Since most people purchase diamonds to be worn and not to be resold, diamonds are not a good investment. Only through proper education and training could diamonds become a good investment. For the average Joe, I would recommend buying a diamond for the enjoyment and prestige it brings and don’t be too concerned about making a buck.

9. A DIAMOND SHOULD BE BOUGHT STRICTLY ON ITS VISUAL APPEARANCE: “IF IT LOOKS GOOD, BUY IT.”

A lot of people believe “what I can’t see can’t hurt me!” Well, we all know that blind ignorance will only lead to disaster. Practically any diamond looks good in a jewelry store. The jeweler spends quite a bit on spotlights to make any quality diamond sparkle. But unless you plan on carrying a spotlight with you everywhere you go, you’d better check the four C’s or you might purchase a diamond that only looks good in a jewelry store and is lifeless everywhere else.

10. AN EMERALD CUT DIAMOND IS THE MOST EXPENSIVE SHAPE DIAMOND.

I don’t know why some people believe this. I constantly have clients tell me that they like emerald cut diamonds but know that they are the most expensive and can’t afford them. This is crazy! The emerald cut diamond is the least expensive of all the shapes. You see, it is the shape that is most like the natural shape of the rough, so there is a little bit less waste during the cutting process. If you like emerald cut diamonds, enjoy them, don’t avoid them; they are not any more expensive.

11. DIAMONDS ARE A BAD INVESTMENT.

Diamonds may not be a good investment for the average person, but they certainly aren’t a bad investment. If a diamond is purchased at the right price, it will most certainly hold its value. Since the diamond crash of 1979, when D flawless diamonds fell in value from $75,000 to under $15,000, the price of diamonds has been increasing constantly.

12. NO DIAMOND IS PERFECT.

The definition of a perfect diamond would be a diamond free from inclusions and blemishes when viewed under 10X loupe (flawless), with no trace of color (D-color), and perfectly proportioned. Even though they are rare, there are such diamonds around.

13. IT IS DIFFICULT TO TELL THE DIFFERENCE BETWEEN A DIAMOND AND A CUBIC ZIRCONIA.

Any good jeweler can tell the difference immediately. A cubic zirconia has more of a plastic look. There seems to be a light-blue cast throughout the entire stone. One sure way to determine the difference is by weighing the cubic zirconia. A cubic zirconia will weigh approximately 55 percent more!

14. DIAMONDS ARE EXPENSIVE.

Some are; some aren’t. It depends on their quality. Believe it or not, it’s possible to get a one-carat diamond for as low as $300 if it’s junky enough.

15. DIAMONDS ARE A GIRL’S BEST FRIEND.

This one would have stumped me, too. I’ve always believed that all women like diamonds. It wasn’t until recently that I learned there are some women out there that very much dislike diamonds and think they are a waste of money. I guess for them maybe a dog is their best friend.

by Fred Cuellar, author of the best-selling book “How to Buy a Diamond.” More questions? Ask the Diamond Guy®