When I introduce myself as a Personal Privet jeweler to many people who are not part of the diamond industry, they almost always ask me the same two important questions:
Unfortunately, the answer to both questions is slightly more complex than I would prefer, but happily, it enlightens the questioners. Suddenly, they understand that the option to buy diamond jewelry is within their reach, something they were not aware of before.
There is one answer to both questions:
The price of a gem-set jewelry, is determined by: (a) the price of the jewelry itself without the stone, such as a ring, earrings, pendant, etc., designed in gold, platinum, or silver; (b) the value of the set gemstones, in our case, the value of the diamonds based on their assessed value, and additionally (c) the cost of the setting/designer/jeweler’s work. In diamond jewelry, generally, most of the cost is in the price of the precious stone or diamonds, not in the price of the jewelry itself.
The value of a diamond is determined by 4 main criteria:
An additional criterion taken into account is the popularity level of the diamond’s shape. Since forever, the round diamond is priced higher than other cut shapes because it has always been more popular among consumers. Temporary fashion changes may temporarily elevate the prices of other shapes, such as princess, heart, pear, marquise, and more, but still, the round and classic diamond “Dominates effortlessly”
From here, the creation begins, and the price of the diamond is determined by weighing the various parameters. This is also where the beauty lies. Since there are several parameters involved, the buyer can be flexible among the important parameters for them and compromise on parameters that are less important to them, all in order to fit their budget. For example, a round diamond with a weight of 1 carat, with clarity level I1, color H, and a cut level of VERY GOOD, will cost less than a 0.80 carat diamond with clarity level VS2, color E, and cut level EXCELLENT. Another example, a 1/2 carat round diamond with clarity level SI1 and color G will cost more than a princess-shaped diamond with the same weight and color and clarity levels.
Confused? Not a problem, the dazzling diamond industry is a world of its own, and always good to look at with experienced eyes, especially in this field where a good eye is worth a lot of money.
In conclusion: the next time you’re thinking of buying a special gift for someone dear to you, consider that the option to buy them a diamond jewelry piece is within your reach. With a bit of creativity and patience, you can find the right formula for a special gift that matches their taste, leaves them feeling grateful, and also fits your budget.