Diamond 4Cs
Diamonds are graded according to an international grading system that was established around 70 years ago by the GIA. We know this system today as the '4 C's':
CUT
CARAT
COLOR
CLARITY
CUT (or 'shape')
The cut of a diamond is often referred to as the shape of the diamond.The most traditional cut or shape for a diamond is a round brilliant cut, though 'fancy shapes', such as princess cuts, emerald cuts, and marquise cuts, are gaining in popularity.
Round Brilliant Cut Diamonds
Round brilliant cut diamonds are the most popular, accounting for around 70% of all diamonds sold today. This shape of diamond has 58 facets and is cut to maximize sparkle. It is perfectly suited to diamond engagement rings as well as any other type of jewelry.
Princess Cut Diamonds
Princess cut diamonds are relatively new to the market and have quickly become one of the most popular fancy shaped diamonds. This cut is square in shape with pointed corners. Princess cut diamonds display an amazing amount of sparkle, and are typically cut with either 58 or 76 facets. Look for this shape of diamond that is cut with a length to width ratio as close to 1.00:1.00 as possible - in other words, the perfect square.

Emerald Cut Diamonds
Emerald cut diamonds use a series of flat, rectangular facets stepping down off the table to give them a unique, understated brilliance. It is important to choose a higher clarity grade for an emerald cut diamond; since this shape is more transparent than others it allows inclusions to be more visible. The classic rectangular emerald cut diamond has a length to width ratio of 1.50:1.00.

Marquise Cut Diamonds
Marquise cut diamonds display 58 facets and are a striking when well proportioned. This cut is popular for up-market pieces of diamond jewelry. They have a line of beauty that can be used running up and down the finger, and often appear larger than their actual carat weight.

Pear Cut DiamondsPear cut diamonds are also referred to as 'teardrops', and are increasing in popularity all the time. The standard number of facets for this cut is 58, so they are very bright and have a lot of sparkle. Pear cut diamonds look exceptional on delicate hands.
Oval Cut DiamondsA well cut oval diamond displays just about as much sparkle as a round brilliant cut due to their 56 facets. As with all fancy shaped diamonds, the main consideration when buying an oval cut diamond is its overall shape. Look for a length to width ratio of around 1.50:1.00 with nicely rounded countours at each end.
Along with referring to the shape of the diamond, it also relates to the quality of the cut of the diamond. This aspect of the cut can be given a grade on a diamond grading certificate. Things that are taken into consideration to determine the cut grade are the overall proportions of the diamond, symmetry or how well the facets align, and the overall polish of the diamond.
Round brilliant cut diamonds have been assigned specific cut grades by the GIA since 2006. The fancy shapes do not necessarily always have an assigned cut grade, so the symmetry grade becomes the best indication of cut quality. If the symmetry is not good it means the facets of the diamond are not aligned symmetrically and this has a negative impact on the overall light dispersion or sparkle.
CARAT
The carat is a universal standard unit of weight for diamonds and gemstones, and is equivalent to .02 grams (not to be confused with 'karat', which references gold purity). Though it is a weight measurment, it often goes hand in hand with the physical size of the diamond.
Generally speaking, the larger the diamond, the rarer it is. As a result of this, larger diamonds have a greater value per carat. The price of a diamond can rise exponentially with its size. In other words, the value of a single one carat (1ct) diamond will always be greater than the value two half carat diamonds combined (of comparable quality to the 1ct). Of course, the value of a diamond is not solely determined by size - it is the interaction of all the 4Cs which determines a diamond's value.
The graphic below shows the size of round brilliant cut diamonds, to scale.
COLOR
The diamond color grading scale begins at D for rare white diamonds, also referred to as colorless, and continues all the way to Z, which displays a strong yellow color. Around color I/J, diamonds start to display a slight yellow tint. Therefore, at DeJoria, diamonds with a color grade of less than J are rejected.
D - "Exceptionally White" - This grade of diamond is absolutely colorless and is the most highly prized. A diamond with less color has never been found.
E - "Exceptionally White" - This grade diamond appears colorless to the naked eye. Only a trained gemologist using special equipment can determine any color difference between a D and E color diamond.
F - "Rare White" - No color is visible to the naked eye in an F color diamond. These diamonds display minimal color difference from a D or an E color diamond, but offer a lower price.
G - "White" - A diamond with G color has an extremely faint tint that is only noticeable to a trained gemologist. G color diamonds make for beautiful diamond jewelry at an exceptional value.
H - "White" - This diamond offers an exceptional balance of color and cost. When you choose an H color diamond, you can purchase a larger diamond for your money than if you chose a higher color grade. The very slight tint is generally not noticeable to an untrained eye.
I - "Slightly Tinted White" - When cut to ideal proportions, this color grade diamond produces a warm brilliancy that is not found in higher color grades. Diamonds with an I color are less expensive than the higher grades, which allows you to purchase a larger stone for your money.
J - "Slightly Tinted White" - This color diamond produces a warm brilliancy when it is cut to ideal proportions. This is the least expensive diamond color in the near colorless range, wich allows you to focus your money on carat weight.
CLARITY
Commonly referred to as "nature's birthmark" of a diamond, inclusions can take the form of tiny black pinpoints, white feather, clouds or crystals. All diamonds have inclusions except for internally flawless (IF) stones. The clarity grade of a diamond can have a noticeable effect of the price. Generally speaking, the fewer, smaller inclusions in a diamond, the fewer obstacles there are for light to go around, which results in greater brilliance and sparkle.
Inclusions are more visible in some cuts of diamonds than others. Diamonds that have a greater number of facets, such as round brilliant cuts or princess cuts, hide inclusions very well. However, in diamonds with fewer facets like an emerald cut, inclusions will be more visible to the naked eye due to the transparent nature of the cut. It is recommended to look for a higher clarity, such as a VS1 or higher, when purchasing an emerald cut diamond.
Even in round brilliant cut or princess cut diamonds, inclusions can start to become visible to the naked eye at the SI2 grade. Therefore, at DeJoria, diamonds with a clarity grade of less than SI2 are rejected.
IF - "Internally Flawless" - A diamond of this clarity grade has no internal identifying characteristics, even when viewed under a microscope at extreme magnification. Diamonds of this clarity are extremely rare.
VVS1 - "Very, Very Slightly Included" - This grade of diamond has very few, very tiny inclusions. The inclusions in this diamond are virtually unidentifiable even when viewed under a microscope at 60x power magnification. Diamonds of this grade of clarity are very rare.
VVS2 - "Very, Very Slightly Included" - This diamond has very few, very tiny inclusions. The inclusions in this diamond are nearly unidentifiable even when viewed under a microscope at 60x power magnification. Diamonds of this grade of clarity are very rare.
VS1 - "Very Slightly Included" - This diamond has very few, very small inclusions. The inclusions are very difficult to see under a 30x power magnification, and should not be visible to the naked eye. VS1 grade diamonds present an excellent value in clarity because they are typically free of visible blemishes, and they are less expensive than higher clarity grades.
VS2 - "Very Slightly Included" - This diamond has few, very small inclusions. The inclusions are very difficult to see under a 30x power magnification and should not be visible to the naked eye. VS2 graded diamonds present an excellent value in clarity because they are typically free of visible blemishes, and they are less expensive than higher clarity grades.
SI1 - "Slightly Included" - The inclusions in this diamond can be visible at 10x power magnification. Inclusions in diamonds with SI grade clarity might be visible to the naked eye. SI1 graded diamonds are not as rare as VS1 and VS2 graded diamonds, so they are less expensive and present great value.
SI2 - "Slightly Included" - The inclusions in this diamond can be visible at 10x power magnification. Inclusions in diamonds with SI grade clarity might be visible to the naked eye. SI2 graded diamonds are not as rare as SI1 and VS2 graded diamonds, so they are less expensive and present great value.