Guide to buying a diamond

There are many traps for the unwary, such as bogus sales, "blood diamonds", and overpricing.
 
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  • Updated:26 May 2008
 

03.Buying advice

When choosing a diamond, follow the following steps:

  • Look for jewellers that are members of the Jewellers Association of Australia and/or the Diamond Guild Australia — both have a code of ethics committing members to ethical selling practices.
  • Ask questions — a good jeweller will spend some time with you and help you find a diamond you like and that’s in your price range.
  • Specifically ask if the diamond has been treated and what are the ramifications of the treatment.
  • Make sure you can examine the diamond in good light.
  • If you’re looking for a diamond of 0.5 carat or more, ask for a grading certificate from an independent laboratory.
  • Shop around — different stores sometimes price similar stones very differently.
  • Once you pay a deposit, get a detailed receipt describing the characteristics of the diamond and jewellery.
  • Get a valuation certificate from a valuer registered with the National Council of Jewellery Valuers.

Dodgy deals

Take your business elsewhere if:

  • The salesperson tells you you’re getting a huge discount on the stated value of the stone.
  • Prices are just too cheap to be true and no reliable certification is available.
  • What’s promised in advertising material isn’t available in the shop.
 

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