Deciding where to buy a diamond

Buying diamonds: the pros and cons of different options

Buying diamonds is a major investment. So here are three questions to consider. How much should you spend? What should you look for? And finally, what do you want from the transaction?

• You want to be assured of quality
• You want to trust that you're paying fair market value
• You want a broad product offering so you can make comparisons
• You want to gather as much information as you can and get honest answers to all your questions
• You want to be assured of good service (you may need to have the ring sized after you present it, or perhaps changed to a different setting, or maybe upgraded at a later date)
• You want proper certification for your diamond
• You want to deal with a well-respected jeweler and a knowledgeable salesperson.

So, where do you turn when buying diamonds? Where will you find the most beautiful diamond for your money? Consider your options.

Option #1 for buying diamonds: Retail jeweler

If you select a well-respected retail jeweler, you will undoubtedly have the best chance of making the right investment and getting the best assurance of quality, value, and service.

Looking at a broad spectrum of diamonds to assess their beauty and brilliance, comparing one with another, listening to a knowledgeable salesperson explain the characteristics of each diamond, and knowing that the jeweler you purchase from will provide valid certification of your diamond and stand behind every diamond sold gives you a strong advantage when buying diamonds.

There is great advantage in developing a one-on-one relationship with a jeweler you trust. A reputable diamond retailer will provide a money-back guarantee , permitting you to return any diamond for a full refund or exchange. And many will also allow you to upgrade your diamond at any time . Say you purchase a one-carat diamond as an engagement ring, and five years later you want to trade that one-carat diamond for a three-carat diamond. (And is there any woman who would say “no” to that?) A jeweler who knows you will happily give you the trade in at the current market value of your one-carat stone and charge you only the difference in value between the two stones.

Remember, too, that fine diamond jewelry needs to be maintained – cleaned and checked periodically to make sure the setting is tight.

Choosing an authorized Leo Schachter jeweler gives you an additional advantage when buying diamonds. Leo Schachter selects its jewelers because of their reputation for excellent service, their insistence on providing only quality merchandise, and their reputation for highly trained and knowledgeable sales people. Find an authorized Leo Schachter jeweler near you.

Option #2 for buying diamonds: Online diamond retailers

There are many online diamond retailers, and it makes sense to look at their sites and get an idea about their products and pricing. After all, they claim to discount their diamonds, and offer a 30-day money-back guarantee. But even if they do, the downside of this method of buying diamonds is that you can't compare the diamonds side-by-side. The real beauty of a diamond lies in its fire, sparkle and brilliance – and those are attributes you simply can't evaluate on a computer screen.

Instead, you purchase your diamond online and have it sent to you. If you don't like it, you wrap it up, insure it, send it back, and start all over again. In terms of service , there is no professional sales person to guide you through the purchase; neither is there anyone to provide on-going service for your diamond jewelry – such as cleaning, repairing, or upgrading.

Online diamond retailers provide proper certification from independent laboratories. However, they may not offer the GemEx Systems certification for Return of Light – a scientific measurement of brilliance – that comes with The Leo Diamondฎ, by Leo Schachter. The Leo Diamond – the first diamond ever measured and certified for superior brilliance -- is sold only through authorized Leo Schachter jewelers. Learn more about The Leo Diamond and Leo Schachter. Find a Leo Diamond jeweler.

Option # 3 for buying diamonds: Estate jeweler

Antique and estate diamond jewelry appeal to some women. There are retailers who specialize in estate jewelry; and independent jewelers who may carry a few estate pieces, but you are unlikely to find diamond jewelry of this kind in most places where diamonds are sold.

The drawback to buying an old diamond is that it is unlikely to come with certification, so determining the fair market value will be more difficult. The value of the piece will not be based on the value of the diamond alone, but on the age and particular appeal of the overall design. Independent and smaller jewelry retailers may have their own policies regarding returns or exchanges.

Before buying diamonds from any jeweler, be sure to ask whether you can receive a full refund or merely a credit note. It's a good insurance policy, even though she's bound to love the diamond you select and indicate her pleasure with a resounding, “yes!” Need some ideas for making the proposal special?

Other factors to consider when choosing a diamond are:

•  The 4 Cs

•  Certification

•  Shape

•  Beauty and brilliance

•  Branded vs unbranded

•  How much you want to spend

• Which setting you should choose