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Choosing a Diamond:
Two diamonds may at first glance look alike, but the truth is that they are very different. Every diamond is unique, no two are alike. Although they may be of equal size, they will have unequal characteristics.
The value of a diamond depends on quality.
The quality of a diamond depends on four characteristics called the 4C's:
Cut Colour Clarity Carat
It is the combination of these four factors that determines the value of each diamond.
Colour:
The colour of a diamond refers to the relative amount of yellow, brown or gray body colour that a stone possesses. Diamonds may appear colourless when seen alone (and the very best approach this) but trained eyes and close comparison to master stones will reveal tints of colour in the majority of stones. Diamonds with no trace of colour are extremely rare and the closer they are to no colour, the more rare and valuable they are.
The Gemological Institute of America (G.I.A.) grading scale is alphabetical beginning with the letter 'D' and moving through to "Z', with 'D' being void of any body colour and 'Z' having a light yellow, brown or gray colour.
Diamonds form under intense heat and pressure, and traces of other elements may have been incorporated into their atomic structure which accounts for colour variances. These include red, purple, pink, green, orange, yellow, blue, brown and black. These rare and unique diamonds are termed "Fancy Colours" and are graded based on the hue, tone and saturation of their colour (much like Coloured Gemstones). The more intense and pure the colour, the more valuable they are.
The rarest of the fancy colours is red.