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DIAMONDS NEED TO BE CERTIFIED If you're buying a diamond ring, it should come with paperwork from either the Gemological Institute of America or the American Gem Society. The two organizations analyze diamonds for what's known as the four Cs: carat, color, clarity and cut. The certification will grade the stone, and the criteria will help determine its value. Weissman says that other organizations certify diamonds too, but they are not as respected in the industry. Other organizations may grade a diamond higher than it is, and you could end up paying more than it's worth, says Weissman. SAVING MONEY ON A DIAMOND There are two tricks to saving money when buying a diamond: Buy it a little smaller but don't skimp on the cut. Of the four Cs, the most important is the cut, says Russell Shor, a senior industry analyst at the Gemological Institute of America. The cut determines how well the stone will sparkle when light hits it. Even if the color or clarity is of an average grade, the diamond can still look great if it has an excellent cut, says Shor. Another tip: Go a fraction of a carat smaller. A 1 carat diamond that costs $6,000 can be about 25 percent cheaper if you buy one that's 0.90 carat, says Jim Schultz, president of James Allen. It will be hard to tell any difference. "A fraction of a carat is the width of a few sheets of paper," says Schultz. ___ ONLINE JEWELRY RETAILERS: Blue Nile: http://www.bluenile.com/ James Allen: http://www.jamesallen.com/ Ocappi: http://ocappi.com/ Ritani: http://www.ritani.com/ ONLINE RESOURCES: American Gem Society: Gemological Institute of America: Truth About Diamonds:
http://www.americangemsociety.org/
http://www.gia.edu/
http://www.truthaboutdiamonds.com/
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