A Guide to Shopping for a Diamond on the Internet

Diamonds have to be one of the most popular Christmas gifts--and who's complaining? Certainly not your girlfriend or wife (better not be both!), mother, sister, grandmother, daughter or any other female on your gift list. Diamonds may not be a girl's best friend, but they're somewhere on her list of must-haves (whether she admits or not). So, whether you're planning to get down on one knee this holiday season or are just trying to make up for last year's less-than-perfect gift, you're on the right track. But where do you start, who can you trust and where are the best deals?

The rise of the internet opened a new playing field for jewelers and, lucky for you, they've spent the last 5 or 10 years perfecting their processes. Early on, newspapers and magazines were quick to criticize the quality of the products and/or return policies. Today, the best online jewelers offer competitive prices, provide thorough learning materials and make it easy for you to shop for diamonds based on what you want and even on what other people are buying. Guarantees are also aplenty so you can be sure the rock you see online is the one you'll see at your door. The four sites recommended here offer at least a 30-day money back guarantee, special holiday extended guarantees and free shipping.

So what should you expect? You may have heard the routine about investing one (or two) month's salary when buying an engagement ring, hopefully you'll find a deal to that puts that cliche to rest. Surely you know all about the "Four C's." No?

The "Four C's"

The Four C's encompass everything you'll need to know to become a discerning diamond shopper. Understanding these classifications will go a long way in helping you get the best diamond for your money. Here's a crash course on the Four C's:

1 | Cut
This refers to both the shape and the sparkle (or scintillation) of the diamond. The cut of diamond is key to its value. A bad, or sub-standard, cut can reduce the value of an otherwise perfect diamond by up to 50 percent. In terms of the overall shape, round is probably the most popular cut, although I'm a fan of the princess cut, which is a square shape. There are many other cuts and if you're shopping for an engagement ring, you'll want to make sure you know what your diamond-lover prefers.

2 | Color
Diamonds are rated on a color scale (GIA Grading Scale) of D to Z, with D being a colorless-the highest rated stone. Light yellow is on the opposite end (lowest rating) and is the most common diamond color. Diamonds with a D rating will be the most valuable, depending on their other "C" ratings.

3 | Clarity
The purity of the diamond is defined as its clarity. Imperfections in a stone reduce its clarity rating. The GIA standard rates diamonds from "Flawless" down to "Included," which is defined by imperfections that are obvious at 10X magnification.

4 | Carat
The weight of the diamond is measured in carats. This is the term that most of understand. When it comes to rings and even earrings, one carat is the most common benchmark. Anything less is just, well, less. And don't worry about weighing down her hand, a carat is equal to about .2 grams. The weight is also often referred to in terms of points, which relate to a fraction of a carat. A one-carat diamond is 100 points.

When you're buying a diamond, learning about the Four C's is critical. Always check the rating on the diamond you are about to purchase to determine its value, and make sure that you are getting a certification for your diamond. This is the one area where you do not want to cut corners. Synthetic diamonds-sometimes referred to as laboratory-grown, although there are other types-can be so genuine looking that they can go almost undetected-even by a trained gemologist. You need to buy your diamond from a reliable and reputable source and always get a certification.

Knowing the Four C's can also help you save money. For example, you know you want a one-carat diamond-this is your minimum weight. Adjust your color, cut and clarity ratings until you reach your desired price point to arrive at your perfect diamond. The clarity and color ratings can be almost undetectable to the human eye. Color, for example, is graded by viewing the diamond facedown against a white diamond color card and using daylight equivalent light to examine the amount of yellow in the stone. Detecting the yellow of a diamond without this method is almost impossible at the middle and higher end of the color scale.

Don't forget, this is just a starting point. Research, research, research.

Where To Buy

Now that we've covered the basics, you're ready to start shopping. To the buyer's advantage, these online jewelers provide detailed information about the Four C's for any diamond you wish to purchase. The diamonds are also backed by a guarantee and come with certifications.

As a repeat shopper on BlueNile.com, the site is my first recommendation. (Ok, so I've technically only been window shopping on the site, but I've been on the receiving end of some purchases!) The products have always lived up to what the site advertised-the appearance was stellar, the documentation complete and the service impeccable.

1. BlueNile.com has been selected as a Forbes Magazine favorite every year since 2000. I can attest to the quality of their items, which were inspected after purchase and measured up exactly to the certifications provided. Not only did I get several high quality items, I got great deals. The site offers several ways to choose your diamond including building your own from their choice of loose stones and settings. You can also view a list of recently purchased items to get an idea of what's popular. Blue Nile offers a standard 30-day return policy, but has an extend policy for the holidays-returns are accepted through January 16, 2007 on items purchased from November 16 to December 16, 2006.

2. DiamondIdeals.com is an online site that has a real brick-and-mortar store based in New York. I found this site highly recommend by other people and wedding sites. For engagement rings, you choose a loose diamond based on your needs, and then select a setting. The company offers a 30-day return policy and free next-day shipping.

3. Mondera.com is worn by the stars frequently (go to the "About Us" section to learn more). The online jeweler has been in business since 1999 and offers a standard return policy as well as a special holiday return policy and free air shipping in the U.S. About the diamonds, you can build your own selection or choose from pre-made rings. Diamonds come with certifications.

4. Diamond.com has been in business on the internet since 1999 and has been featured in women's magazines, bridal magazines and newspapers. The site offers easy interfaces for choosing diamonds, a 60-day money back guarantee and the ability to make monthly payments with your credit card.

The Finer Details

Ok, so there's a little more to this diamond business. You'll also need to determine which metal you want to purchase (like gold or platinum), the shape of the diamond (round, princess, etc.) and the ring size (if applicable). If your recipient already owns jewelry, select a coordinating metal and look for clues about her style.

If you're buying an engagement ring, you need to do your homework. Find out what she likes; for this you'll need to pay attention. First there's the style-does she want a solitaire or a lots of bling, a plain setting, something ornate or something antique? Next focus on the cut. She probably has a favorite, so take cues from what you've overheard, or maybe you've received some direct information (if she has any clue about this diamond, she's probably dropped some big hints). Getting the ring size may be the trickiest part of all when it comes to keeping your gift a secret. Pick up a ring size guide (or search for one on the internet) and match it up to an existing ring. (Make sure you get the size of the correct finger, and note that the ring size of one hand is usually slightly larger than the other.) If you're having trouble with this part, get creative. Fashion a temporary ring out of string, a rubber band or whatever you have handy, and make a game of getting her to try it on. If you've exhausted all of your options, don't worry. Most rings can be resized. Check with the jeweler and go with your closest estimation.

Once you have purchased your jewelry and receive your item, enjoy your I'm-so-great-she's-gonna-love-this moment, then check your diamond and your certification. Don't forget about insurance. You'll want your valuable purchase to be protected against damage, theft and loss. Finally, put that documentation somewhere safe.

At last, you've arrived at the gift-giving part. With a gift this special you need to put some thought into the presentation. You might want to go with the right-in-the-box presentation for a dramatic effect (bring out the unwrapped box, catch her attention and slowly open to reveal the contents), you can get tricky by wrapping it up in a large box (keep her guessing) or simply go with an elegantly wrapped little package with a big inviting bow.

Finally, prepare yourself for a barrage of hugs and kisses, thank yous, compliments (on your excellent shopping skills, of course) and maybe a tear or two.