You’re in love, you’re getting engaged and now it’s time to make one of the most important purchases of your lifetime: a diamond engagement ring. While it sounds scary and overwhelming, with a little bit of information you’ll be ready to shop for a diamond engagement ring like a pro.
Before you jump into shopping, one of the most important steps is to determine what your budget will be. There is no magic number for your budget, the amount is really up to you and how much you feel comfortable spending. One of the really great things about diamonds, aside from their beauty and sparkle, is that there is a diamond for pretty much any budget. Let’s get you started with a scroll through the variables that affect diamond quality and price.
Anatomy of a Diamond
Let’s begin by taking a quick look at the parts of a diamond, all of which contribute to its overall beauty and value.
Table: This is the large flat facet on top of the diamond. It is the biggest facet on the stone and both reflects and refracts light impacting the diamond’s sparkle.
Girdle: This is the thin line going around the widest part of the diamond. You don’t usually see the girdle as it is generally hidden by the ring setting. The thinness or thickness of the girdle will also have an effect on light and sparkle.
Crown: This is the top part of the diamond that is seen when it is set. It is above the girdle and its top is the table facet.
Pavilion: This is the bottom half of the diamond, forming a funnel shape that reflects light out of the diamond through the crown.
Culet: This is the tiny point that is on the bottom tip of the diamond, in modern cut diamonds there is really no culet, just a point. In vintage diamonds, specifically old mine and old European cuts, culets were often large and visible to the naked eye, reflecting light differently and giving those diamonds a soft glowing sparkle.
Diamond Four C’s
All diamonds are universally evaluated by gemological laboratories using the Four C’s — color, clarity, cut and carat — which also comprise the starting point for any conversation about diamond quality and value. Now let’s break it down to understand exactly what that means.
Color: Diamonds are transparent and the more transparent the more valuable the diamond becomes. Color, or absence of color, is one of the measures of that transparency. The color scale ranges from D to Z. D is the best quality color and actually means there is no color present in the gem, it is completely colorless. As you go down the color scale, diamonds will take on a tiny tinge of color, that is barely perceptible to the eye, until you get to about K/L/M and then you’ll start to see a hint of color, as you continue down towards Z, the slight color will become more obvious.
The D/E/F grades are considered colorless, G/H/I/J are considered near colorless. To see the difference between D/E/F and G/H/I/J diamonds, they will need to be viewed on a white background side by side, so that any trace of color will show to the naked eye.
Clarity: The vast majority of diamonds have little birthmarks, known as inclusions, deep inside the gem, or blemishes on the outside of the stone. The size, location and number of inclusions are some of the factors that determine its clarity grade. These inclusions are often only visible with the use of 10X magnification, but if a stone is heavily included it will be visible without magnification. Very rarely a diamond with no inclusions, or blemishes, will be discovered making them very valuable. Divided into six categories, the clarity grade reflects the amount of inclusions in the diamond.
Flawless (FL), the diamond has no inclusions or blemishes when viewed under 10X magnification. Less than 1 percent of diamonds fall into this category.
Internally Flawless (IF), meaning that there are no inclusions inside the gem, when using 10X magnification, but there may be some blemishes on the surface of the stone that are only visible when using 10X magnification.
Very, Very Slightly Included (VVS1 and VVS2), VVS diamonds have very tiny inclusions that are barely visible with 10X magnification. A VVS 2 will have slightly more inclusions than a VVS1.
Very Slightly Included (VS1 and VS2) means there are still very few inclusions, visible only with 10X magnification, that are not generally visible to the naked eye. A VS1 diamond will have fewer inclusions than a VS2.
Slightly Included (SI1 and SI2) diamonds have inclusions that are easily seen with 10X magnification and may also be visible to the naked eye. SI1 will have less inclusions than SI2.
Included (I1, I2, I3) diamonds have very obvious inclusions when viewed with 10X magnification and are often visible to the naked eye, with I3 having the most inclusions. These diamonds have so many inclusions that they may start to impact the transparency and brilliance of the stone, making it look cloudy or speckled.
Cut: Cut is the arrangement of facets on a gemstone, not to be confused with shape which is the geometric form of the stone. Cut is perhaps the most important of the 4Cs, it is what brings out the sparkle, fire and life in a diamond. A well cut diamond will make not so great material look fantastic, while a poorly cut diamond will lack brilliance and energy. Contemporary diamonds are cut using precision machinery, so they are perfectly symmetrical and precise in the cutting angles. However, prior to the early 20th century, diamonds were cut by hand. Many antique diamonds will be slightly off shape because the cutters followed the natural form of the rough diamond and they didn’t have the tools available to create the precision that we see in diamonds cut today.
Rose Cut: An early cut, developed in the 1500s, the rose cut diamond has a flat bottom and a dome shape covered with triangular facets.
Old Mine Cut: The old mine cut was introduced in the 1700s. These diamond cuts follow the octahedral shape of the rough stone. Because each rough diamond is slightly different in form, old mine cut diamonds can be found in round, square, cushion or rectangular shapes. They have 58 facets and are distinguished by a high crown – the top half of the diamond — a small table, which is the large facet on top of the diamond and an open culet, which is the point at the bottom of the stone.
Old European Cut: The old European cut was much rounder in shape than its predecessor the old mine cut. It also has a much smaller culet and is widely considered to be the precursor to the modern-day brilliant cut.
Brilliant Cut: A brilliant cut is a diamond with a standard 58 facets that are placed on the stone to optimize light return creating the most sparkle and fire in the stone. It was introduced in the early 1900s.
Step Cut: A step cut is characterized by long facets that are straight parallel lines that reflect light in broad flashes. When you look into the stone, you’ll see the steps, which create a very elegant look.
Carat: Carat is the unit of measurement that determines the weight or size of a diamond or gemstone. The word is derived from carob. In ancient times before scales were invented, gem dealers compared the weight of a stone to carob seeds because they tend to be uniform in size.
After a gemological laboratory assesses a diamond, they will issue a report that will provide all of the specifications about the diamond, it is an opinion on the diamond’s quality from a neutral third party that will serve to determine its value. It’s a good idea to purchase a diamond with a report from an accredited gemological laboratory such as the Gemological Laboratory of America (GIA), International Gemological Institute (IGI) or the Swiss Gemmological Institute (SSEF). A report provides assurance that you are getting what you are paying for.
Shapes
Diamond shape is the geometric form of the stone, with round being the most popular. Any diamond that is not round is considered a fancy shape. There are many fancy shape diamonds available, so there is something that is sure to be appealing for an engagement ring for everyone.
Round: The most classic and popular shape is the round diamond. It’s circular shape has perfect symmetry and maximum sparkle, while also working with most setting styles.
Pear: The pear shape, with its curved bottom and pointed top, was first introduced in the 1400s and was originally called a teardrop. The pear shape makes fingers appear longer and slimmer. Also, due to its elongated form, a pear shaped diamond may appear larger than another diamond of the same carat weight.
Emerald: The emerald is a rectangular shaped diamond. It has a step cut with facets running the length of the diamond. You may sometimes also find emerald cut diamonds in a square shape as well. Due to the large table found in the emerald shape, it is important to select a diamond with high clarity. 
Marquise: This is a dramatic shape characterized by a curved center with points on each end, making it appear larger than its carat weight. The marquise is a unique shape that feels both vintage and avant-garde at the same time.
Asscher: A square shaped step cut, the Asscher is distinguished by 58 facets, with a high, two-step crown and a deep pavilion. When you look straight down into an Asscher diamond from the top, you will see an “X” that is formed by equidistant converging facets, earning it the nickname “hall of mirrors” for its amazing light reflection.
Radiant: A square shape with cut corners, the Radiant cut debuted in 1977.
Princess: A bold square shape with pointed corners, the Princess Cut debuted in 1979.
Oval: A classic shape that will never go out of style, long and rounded on both ends, an oval shaped diamond, like a pear shape will elongate your finger. It also looks bigger than a traditional round of the same carat weight. You may run into a “moval” (see top of page) which is an oval with narrow ends that are rounded, rather than pointed. Some consider the shape to be a cross between an oval and a marquise.
Cushion: A cushion shape diamond is generally square or rectangular with curved edges, giving it a soft pillow-like look, which explains the name. This shape has been around for about 200 years and may be found in vintage diamond rings. Many old mine cut diamonds were cushion shaped, at one time the most popular shape.
There are many shapes to choose from, so you’re sure to find a diamond that will uniquely reflect your own personal style. Even diamonds of the same shape will have subtle differences due to the quality of material and the skill of the cutter.
Precious Metals
When purchasing a diamond engagement ring, you’ll also want to consider the metal for the setting, platinum or gold. The two metals have different characteristics so you’ll want to consider what’s best for your ring.
Platinum: An extremely dense, naturally white metal, Platinum is tarnish resistant, hypoallergenic and very durable.
Gold: Gold is a precious yellow metal used in jewelry. Gold used in jewelry is usually 18-karat or 14-karat, meaning that it is alloyed with other metals to strengthen it, or to change its color. Different metals are used to make an alloy: Copper, silver, palladium, manganese and/or nickel. The amount of alloy used will affect the color of the gold. When you compare 18-karat yellow gold to 14-karat yellow gold, you will see a big difference in the color. The higher karat gold will have a richer, deeper yellow color, while the lesser karat gold will be lighter in color.
Rose Gold: Often called pink gold, rose gold is created by mixing copper with yellow gold. The color is sometimes made lighter by adding a little silver into the mix. It may be 14-karat or 18-karat gold.
White Gold: White gold, which may be 14- or 18-karat gold, is created by mixing yellow gold with silver, palladium, manganese or nickel. Nickel is not used much since many people are allergic to it. Once the white metals have been mixed with the yellow gold, it will still be a creamy color with a grayish undertone. To get the bright shiny white finish that we are used to seeing, the gold is plated with rhodium, a metal in the platinum family.
Setting Styles
You’ll need to decide on a design for your diamond engagement ring. This is where personal style and lifestyle may influence your choice. A setting may be high on the hand, or low, it may be simple or opulent; there is a style for everyone, it’s just a matter of finding what you like, whether it’s contemporary, or a vintage diamond engagement ring.
Tiffany Setting: A classic six prong setting holds the diamond high and allows light to interact with the gem for maximum sparkle. It was introduced by Tiffany & Co. in 1886 and remains one of the most popular engagement ring setting styles today.
Bezel Setting: A bezel set is a type of setting with a thin metal band that wraps around the girdle of a diamond to hold it in place. Once the stone is placed in the setting the metal is then pressed down on the top edges of the stone to hold it securely.
Halo Ring: This is one of the most popular diamond engagement ring styles. A halo setting is comprised of a center stone surrounded by a frame of diamonds or other gemstones. If there is a second frame of gems around the center stone, it is called a “double halo”. A halo will make the center stone look larger.
Three-Stone Diamond Ring: A three-stone ring is set with three diamonds in a row, the center stone is often slightly larger than the two side stones. The three-stone diamond ring is meant to symbolize your past, present and future together.
Toi et Moi Ring: This ring style has two main stones, it is sometimes called a twin ring, or bypass ring because the two stones “pass” each other. The stones are generally of equal size and are the same shape, but may be two different gems, such as diamond and ruby, or diamond and sapphire. When it was first designed the style used gems of the same shape, but contemporary designers have put a modern spin on the style by using two stones of different shapes.
Getting married is a big decision and so is the diamond engagement ring that you select, it’s one of the most important and lasting purchases that you will ever make. It’s a symbol of your love and devotion to each other for all the world to see. Whether you choose a contemporary diamond engagement ring or a vintage diamond engagement ring, the perfect ring will be as remarkable as your love.
Top of Page: Engagement ring features a 3.84-carat, F color, Internally Flawless, Type IIa diamond set in platinum accented with 40 single cut diamonds, accompanied by a GIA Report.
Diamond diagram, ©GIA; GIA Color Scale, part of the International Diamond Grading System ™, image shows letter grades (horizontal) and diamonds, ©GIA; "GIA Clarity Diagram Examples" artwork published in GIA's 2006 "The 4Cs of Diamond Quality" brochure, ©GIA; Graphic showing popular diamond cuts: Round Brilliant cut, Pear cut, Oval cut, Emerald cut, Princess cut, Cushion cut, Radiant, ©GIA.
Diamond engagement ring features a 1.60-carat marquise shaped center stone, round diamond accent stones all set in 14-karat white gold; Platinum and diamond engagement ring, signed Chanel; Platinum ring features 4.87-carat, E color, VS2 clarity, diamond in a six prong Tiffany Setting; Diamond engagement ring features an .80-carat old European cut diamond in a 14-karat gold bezel setting with diamond accents, circa 1940s; Old mine diamond halo ring, sterling silver and 15-karat gold, circa 1820; Art Deco diamond engagement ring features three diamonds weighing approximately 1.37-carats set in platinum; Toi & Moi ring features a 1.35-carat untreated, step-cut Burmese blue sapphire and .75-carat old mine-cut diamond set in platinum.
Authored by Amber Michelle