How to not overpay for your diamonds

Imagine this. You're in the market for a diamond, and you go to a diamond ring website that lets you filter diamonds by price and the 4Cs (cut, color, clarity, carat).

You put in your preferences and get over 500 diamonds with varying prices. They all kind of look the same and you’re not sure what's a good deal. Sounds familiar? I bet it does.

Hidden diamond pricing factors

There are many factors to diamond pricing. The 4Cs (carat, cut, color, and clarity) are the most well-known, but there are many other influences too like fluorescence, milkiness, symmetry, polish, ratio, girdle etc.

It can be hard to judge these factors from photos or videos. This means that two diamonds that look similar can be quite different in price and quality. The cheaper diamond most likely has a lower quality in some of these other factors and you won't be able to really tell.

What this means for you

Since there is a lot of variation in diamond pricing and quality, it means that you should make some choices on what to prioritize - whether that is size, clarity, color or others.

We like using an analogy of looking for an apartment in a big city. In NYC, you can't have the best location, size, and amenities (unless you’re a billionaire). If you want to be close to everything and have great amenities, you'll have to compromise on size. 

Buying a diamond is similar but more difficult, since you might not have all the information and it's hard to value the tradeoffs.

Even when you consider the usual 4Cs, there are subtleties you may miss. For example, a diamond might have poorer clarity with inclusions near the corners - but it won’t matter if they are covered by the ring prongs and can’t be seen. That diamond might be a good (and cheaper) fit for you!

Common mistake when buying

When you buy a diamond directly from a website yourself, you might think you are saving money. This is far from reality.

These websites just show you a list of all the diamonds from wholesalers and add their own margins to the price. By buying a diamond yourself, you might end up choosing a poorer diamond or paying more than if you had an expert help you throughout the purchase.

However, by using a specialist, their expertise is already included as part of that diamond margin at no extra cost to you.

Just like when you buy an apartment, the buyer's agent fees are always paid by the seller so why wouldn’t you use one? They are highly knowledgable in their field and will get you a better deal.

Why work with Siroo

We started Siroo because we felt there was a lot of misinformation out there and we wanted to help people make an informed decision about one of the most expensive purchases in their lives - their engagement ring.

When you work with us, it is both fun and educational. We will work closely with you to get the most for your money.

We know that everyone wants a big diamond. Our expertise is to help you keep that size while still getting a high-quality diamond. Because some of our operations are in the Caribbean, all your purchases will be tax and duty free - which gives you extra savings to put towards your diamond.

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