The Pearl

Uncut diamonds so closely resemble pebbles that most people would pass them by without a glance.  Only a skilled diamond cutter can unlock the fiery and brilliant beauty of this rare gem.  The diamond cutter cannot afford to make mistakes;  not only at risk is the diamond itself,  but also the several hours to months of work required to mine,  examine,  cut and polish each stone.  On the average,  each rough diamond crystal loses 50% of its original weight during this time-consuming process.Since the diamond’s beauty depends on the way it reflects light,  the cutter must shape the stone in such a way as to allow light to enter through the top,  bounce around the inside and return out the top again.  Proper cutting results in a maximum amount of light reflected so that the diamond sparkles with fire (spectral colors),  brilliance (white light),  and scintillation (sparkling effect). Improper cutting can affect not only a gemstone’s beauty,  but also its durability.  Unfortunately,  most diamonds on today’s market are cut with a spread table (the large,  octagonal-shaped facet on the top of the stone).  This results in a stone that displays more brilliant white light but less fire and scintillation.  Also, such stones look bigger than their actual weight due to a shallow total depth,  which may be hidden in the mounting.  Diamonds with spread tables offer “more flash for less cash” because they look bigger,  are more brilliant and cost less.  Be aware that these stones actually weigh less than they look and are more susceptible to chipping and damage. Another cutting mistake to avoid is an extremely thin girdle,  as this area is especially susceptible to chipping.  Think of the girdle as the waist or diameter of the stone.  This area is the most exposed region of the stone and thus more likely to receive abuse as your hand hits a hard surface. Another section of the stone to consider is the pavilion.  This is the bottom region which is buried within the prongs of the setting.  Although this area receives minimal abuse,  its cut can drastically affect the beauty of the stone.  Deep pavilions result in a stone that is quite dark,  while shadow pavilions produce a watery or dead appearance.  Both of these problems are the result of “unplanned light leakage” - whereby light entering the stone does not bounce around and exit through the top,  but instead,  leaks out through the bottom of the stonme. How can you compare the cut of diamonds and understand its affect on value?  There is a specific set of standards to which diamonds should be cut;  these “Ideal Proportions” best display a diamond’s optical features and durability.  The jewelry store you visit should discuss the cut on either the GIA (Gemological Institute of

When shopping for diamonds,  remember to compare all of the four C’s - Cut, Color, Clarity, and Carat weight.  You should add a fifth “C” to the list - Confidence in your jeweler.  Choose a jeweler or gemologist who will explain each of the four C’s to you and how these factors affect a diamond’s beauty and value.  Also, be wary of “discount” or “bargain” diamonds  -  they may be a poor trade-off between quality and cost!

Would the Mona Lisa be as captivating without her smile?  Does Beethoven’s Ninth sound as majestic when played on a kazoo?  Or more practically,  would you pay full price for a set of retread tires?  The increasing number of fracture-filled diamonds being offered by jewelry retailers has raised similar questions for the jewelry consumer. Fracture-filling (a.k.a. “clarity enhancement” and,  less kindly,  “diamond retreading”) is a legitimate process by which disfigured diamonds are made to appear whole.  During fracture filling,  the blemishes and fractures in a damaged diamond are filled with a glass-like paste which shares the same optical properties and color as the host diamond.  When finished,  the imperfections of the fractured-filled diamond are invisible to an untrained eye and the visual appearance of the diamond is greatly improved.  In fact,  the presence of the fracture-filling paste often can only be detected using gemological instruments. If fully disclosed to the consumer,  fracture filling is an acceptable treatment for damaged gemstones.  However,  problems arise when the value of a fracture-filled diamond is misrepresented or the impermanence of the fracture-filling paste is not fully disclosed to the consumer.  Remember,  fracture-filled diamonds are “repaired” diamonds and should cost significantly less than untreated diamonds with the same weight,  color and clarity. In my next column I will further discuss the uses,  abuses and short-comings of the fracture-filling process.  Until then,  you should protect yourself against treated or misrepresented diamonds by always observing the following two rules: 1.   When purchasing a diamond or precious colored gemstone,  obtain an independent gemological appraisal to assure that the gemstone’s quality and value have been accurately represented. 2.   Require the seller to state in writing whether the diamond has been fracture-filled or otherwise treated.  Any such treatments should be fully described and their limitations disclosed.  

Mention of the White Mountains brings to mind the relaxing elegance of the Mount Washington Hotel, a challenging hike up to Arethusa Falls (New Hampshire’s highest waterfall), and the majestic rise of the cliffs at Frankonia Notch.   But the lore of

In 1477 the Archduke Maximillian of Austria gave Mary of

 

It never fails.  Somebody always tries to improve on Mother Nature.  And diamonds with their small size and great value are no exception. Since ancient times,  jewelers,  scientists,  alchemists and sorcerers have been trying to improve the appearance and apparent value of natural diamonds.  Today high tech methods,  like laser drilling,  radiation bombardment and fracture filling,  are enlisted in the effort.  In the past,  shiny foil backings,  a drop of dye on a diamond’s culet,  and other low tech tricks sufficed.  The goal of all this high and low tech wizardry is to dramatically increase a diamond’s apparent value and quality. When you consider purchasing a diamond,  it is important to know whether the gem has been treated.  Be on the look out for the misleading euphemism,  “enhanced”.  A natural,  untreated diamond can be worth significantly more,  than an “enhanced” stone of the same apparent quality.  Treated diamonds are not necessarily bad.  In fact,  many treatments can make an unattractive gemstone more appealing.  But,  because treatments can affect a diamond’s value and durability,  they should be fully disclosed to the consumer. To help you better understand the modern alchemy of diamond treatments,  we created the following guide. “Laser Zapped” DiamondsOver the past several decades laser technology has been applied to the ancient art of diamond cutting.  Lasers are employed in shaping rough diamond crystals,  separating intractable twinned crystals,  and even removing the inclusions within a diamond.  This latter process is known as “laser drilling”. Inclusions are irregularities or small bits of foreign matter that were trapped in a diamond while it was being formed several billion years ago.  The number and size of the inclusions is an important factor in determining a diamond’s clarity.  And,  a diamond’s clarity grade is an important factor in determining its beauty and value. In laser drilling a diamond a beam of high energy light is used to bore a small tunnel from the surface of the diamond to the targeted inclusion.  Then, strong acid is forced down the tunnel to bleach out or burn away the inclusion.  By selectively removing inclusions in this manner,  it is possible to significantly improve the apparent clarity of a diamond. When first introduced,  the use of laser drilling was not adequately disclosed to consumers.  Even Federal Trade Commission (FTC)  guidelines for the jewelry industry did not require disclosure of the practice!  This lack of candor by diamond wholesalers and manufacturers brought an out cry from jewelry retailers and consumers.  Today all reputable jewelry organizations require full disclosure of laser drilling and the FTC is considering a revision of its guidelines. The tell-tale signs of laser drilling can be easily detected with proper training.  The drilling process leaves a small tunnel from the surface of the diamond to the site of the former inclusion.  Although minute,  these tunnels can be readily seen with proper magnification and when you know what to look for. Of course,  the technology of diamond enhancements keeps moving forward.  Now laser-drilling firms are using fracture-filling techniques  (described in the next section)  to hide the laser drill holes. “Fractured-Filled” DiamondsAll diamonds have minute fractures and fissures.  When the fissures are large and numerous they can detract from a diamonds beauty and value.  In lower grade diamonds these fissures can give the diamond a cloudy,  whitish appearance and may be visible to the naked eye. In the late 1980s a new process was developed to hide the fissures.  Known as “fracture filling” the process involves filling the fissures with a glass-like substance.  Although the composition of the filler is kept a secret,  it is formulated to mimic the color and optical properties of the diamond being treated.  As a result,  the fissures in a fractured-filled diamond become less visible. One concern with all diamond treatments is the permanence of the enhancement.  Diamonds may be forever,  but glass-like fillers probably are not.  Under the heat and pressure experienced when a jewel is being cleaned or repaired,  the glass-like filler can become discolored and even breakdown.  As a result,  the fractures reappear and the beauty of the diamond is diminished.  It is important to inform anyone working on a fractured-filled diamond that the stone has been treated and needs special handling. As with all gemstone treatments,  fracture filling should be fully and candidly disclosed to consumers.  Because fracture filling can improve the apparent clarity and value of a diamond,  consumers need to be cautious.  Unfortunately,  there have been cases of fractured treated diamonds being sold as more valuable,  natural gemstones. Whether you are buying a diamond from a trusted local jeweler,  over the Internet,  or from a friend “in the business”,  you should verify that the diamond has not been fractured filled or otherwise treated.  If you have any doubt,  have the diamond evaluated by an independent,  qualified gemologist. “Color Bleached” DiamondsIn early 1999,  General Electric (GE)  and Lazare Kaplan Inc. (LKI)  announced a new treatment for improving the color of natural diamonds.  Although the details of the process remain a secret,  it appears to involve recreating the high temperatures and pressures that existed when diamonds first formed deep within the earth.  As a result of this treatment,  the apparent color of a diamond can be improved by several color grades. When first introduced it was reported that the treatment was permanent and largely undetectable.  Initially,  LKI suggested that because the treatment was permanent,  disclosure to jewelers and the diamond buying public was not required.  People suspected that LKI had adopted an attitude of “If you can’t catch us,  we don’t have to tell you.”  LKI hoped to sell the color treated stones for close to the same price as untreated diamonds. The initial lack of disclosure with regard to these color-treated diamonds created a furore within the jewelry industry and among consumers.  As with any gemstone treatment,  whether detectable or not,  full disclosure is essential.  As a result,  LKI has agreed to engrave the girdle of each color treated diamond with the initials “GE POL”.  This is a positive first step,  but offers only partial protection for consumers.  The markings on the girdle can be easily polished off by an unscrupulous seller. To date,  there is no definitive method for detecting GE-treated diamonds.  When purchasing a diamond it is important to keep in mind that there is a possibility,  although small, that it has been color enhanced. Consumer Beware!You now have a good overview of the more common methods used to artificially enhance the appearance of natural diamonds.  Each of these methods can improve the beauty of less desirable stones and also make the them appear more valuable.  The challenge is to separate the treated stones from the natural,  unadulterated diamonds.  You do not want to be sold a treated stone when you are seeking a natural diamond.  Similarly,  if you choose to purchase a treated diamond,  you do not want to pay too much. There are several helpful guidelines that will help you face this challenge: 1.  Diamond treatments are a fact of life.  Any knowledgeable seller will be happy to discuss and educate you about the various treatment processes.  If they are not,  then they are either unknowledgeable about diamonds or they are trying to deceive you.  In either,  case you do not want to do business with them. 2.  When purchasing a diamond or other expensive gemstone,  become educated about the market and comparative shop.  If you do not have the time,  hire a qualified broker who will act on your behalf and help you find the best gemstone that matches your needs and pocket book. 3.  If a diamond is being sold as untreated,  have the seller put it in writing. 4.  Conversely,  if you choose a diamond that has been treated,  have the seller document in writing the nature and extent of the treatment.  Any special care or handling required by the diamond should be noted.  In case the treatment is not permanent have the seller guarantee in writing that they will restore the diamond to its current state,  if the treatment becomes compromised. 5.  Finally,  if you have any concerns or questions about a diamond or other gemstone have it examined by an independent professional.  A qualified gemologist/appraiser can help you determine whether the diamond has been treated and give you an accurate estimate of its value.

The best protection for the jewelry consumer is education and the assistance of an independent expert.  By following the above guidelines, you will be able to avoid the traps presented by diamond treatments.

In 1817,  R.J. Hauy,  an eminent French mineralogist,  wrote “Gems are the flowers of the mineral kingdom …. fancy color diamonds are the orchids.”  Fancy color diamonds,  like orchids,  are truly exotic and rare beauties of nature. Yellows,  reds,  pinks,  purples,  blues and greens are not what you expect from diamonds.  Anyone who has studied the 4 Cs can tell you,  “When it comes to diamonds,  the less color …. the better.”  While this is true,  it is only true up to a point.  Slight traces of color can be annoying and detract from a diamond’s beauty and value.  But when a diamond sparkles with brilliant,  intense color,  it is a gem of great rarity and beauty.  These extraordinary gems are known as “fancy color diamonds.” The rarest and most valuable colored diamonds are vibrant reds.  In fact,  one of the highest per-carat prices ever paid for a diamond was for a purplish red stone weighing just over  0.95 carats.  Sold at auction in 1987,  this fiery beauty brought an astounding  $926,000 per carat.  More recently,  a 5.11 carat red diamond is rumored to have sold privately for  $8 million.  However,  not all fancy color diamonds sell for such colorful prices  (please excuse the pun). Fancy color diamonds attain high values because of their great rarity and the attraction they have for gemstone collectors and connoisseurs.  It has been estimated that only one out every  10,000 natural diamonds is a fancy color.  Among natural colored diamonds the rarest shades are red,  pink and green.  More common are various shades of yellow and brown. If a natural red diamond does not fit your budget or your color scheme,  you may want to consider one of the more affordable,  but equally striking alternatives.  Pink diamonds from the Argyle mines in

CostThe fifth C is cost.  The value of colored diamonds is largely determined by the color and weight of the stone.  In the lower color grades of “Light” and “Faint,” colored diamonds usually trade for no or only a slight premium over near-colorless stones of comparable weight,  cut and clarity.  The relatively low premium for these stones reflects the weak,  washed out appearance of their color.  When set in a jewel,  the color in these stones is often masked by the color of the surrounding precious metal. In the middle color grades,  “Fancy” through “Fancy Intense,”  there are many fancy color diamonds that are beautiful and can be found in affordable sizes.  These diamonds are wonderful additions to any gemstone collection and striking center stones when set in a custom designed jewel. As diamonds approach the top color grades,  “Fancy Deep” and “Fancy Vivid,”  their rarity and cost increases sharply.  However,  these diamonds are truly striking and worth acquiring,  if they are within your budget. Synthetic and Treated Colored DiamondsThe great value of fancy color diamonds has enticed many modern-day alchemists to try to recreate these rare and beautiful gems in their laboratories.  As scientific knowledge of the origins of natural fancy color diamonds increases,  the efforts to create synthetic and treated colored diamonds become more successful. Synthetic diamonds are artificial diamonds that have been created in a laboratory.  By varying the heat and pressure during formation,  adding foreign elements,  and irradiating the finished crystals,  synthetic diamonds can be made to imitate natural colored stones.  There is currently a wide spectrum of synthetic colored diamonds available. Treated diamonds are natural diamonds that started out with an unappealing or slightly off color.  By exposing these less desirable stones to the same high-tech alchemy used to create synthetic colored diamonds,  the apparent color and appearance of these diamonds can be significantly improved.  Recently we have seen treated diamonds with vibrant yellowish green,  red and blue colors enter the market. Natural fancy color diamonds are significantly more valuable and rarer than comparable treated or synthetic stones.  Although treated and synthetic diamonds can be beautiful in their own right,  the origin of their color should be fully disclosed by the seller.  They should also cost significantly less than natural diamonds.  Ethical practice and the law require that synthetic gemstones and treatments be fully disclosed to consumers.  Unfortunately,  this does not always happen.  As always,  be careful! A Word of AdviceFancy color diamonds are among the rarest and most beautiful gemstones.  They are,  like orchids,  true treasures of nature! Acquiring a colored diamond requires a special expertise.  In light of the recent advancements in creating treated and synthetic diamonds and the sometimes deceptive practices of sellers,  you may want to seek guidance from an impartial expert.  An independent gemologist/appraiser,  with a knowledge of fancy color diamonds and the diamond markets,  can help you acquire a stunning diamond of high value at a fair price.  As always,  education and expertise are your best protection against the games and shenanigans in the diamond market place.  

Previously, I described how many cost-conscious consumers are hiring diamond brokers to assist them in the purchase of expensive diamonds and colored gemstones.  The advantages of working with a diamond broker are three-fold: 1.  Significantly Lower Cost - By working with a broker you will be purchasing your diamond directly from a cutter or wholesaler. 2.  Higher Quality  -  A qualified broker assures that the color,  cut,  clarity and weight of any diamond you consider purchasing are accurately and fairly described by the seller. 3.  Time Saved  -  The broker is responsible for locating in the diamond markets the 3 or 4 stones that best meet your desires and budget. In short, because the diamond broker works for you,  you avoid typical retail mark-ups,  misrepresented or misgraded diamonds,  and the time and frustration needed to locate and compare different diamonds in different jewelry stores. The key to successfully working with a diamond broker is to first find one who is knowledgeable and committed to working for you.  There are many individuals who are willing to sell you a diamond,  but few who will work in your best interests.  To help you find a qualified diamond broker,  I offer the following guidelines: 1.  A qualified diamond broker must be an expert in the appraisal and grading of diamonds.  At a minimum the broker should be a Graduate Gemologist (GG) trained by the Gemological Institute of

The options available for purchasing a diamond are almost limitless.  The consumer can choose between mall discount stores,  independent retail jewelers,  home shopping channels and even diamond vendors on the internet.   Deciding where to shop for a diamond is almost as difficult as deciding which diamond to buy. One alternative which is gaining popularity among consumers is to hire a diamond broker.   The legitimate diamond broker acts as your representative to help you locate and purchase a diamond of high quality and value.   The broker does not own the diamonds, but acts as your agent to find just the right gemstone in one of the alternative markets.   Among these alternative markets are private sales, auctions, diamond cutters and wholesalers.   For this service the broker charges a preset fee. The advantages of working with a diamond broker are three-fold: lower cost, higher quality and time saved. 1.   Lower Cost - By working with a broker the consumer is in effect buying a diamond from a cutter, dealer or wholesaler.   The total cost to the consumer is the wholesale cost of the stone plus the broker’s fee, usually an additional 10 to 20% of the wholesale cost.   This is significantly less than the typical  50 to 200% retail mark-ups. 2.   Higher Quality - A qualified diamond broker is an expert in the grading and evaluation of diamonds.   The broker assures that the stone you are buying has been accurately graded and is fairly priced.   As an expert in the diamond markets, the broker also knows where to go to get just the right gems to meet your needs. 3.   Time Saved - At First People’s Jewelers when we broker a diamond for a client we locate the best 3 or 4 diamonds that meet the client’s desires.   We then have the diamonds shipped to our offices where the client can examine each stone and select the one that he/she likes the most.   This saves you the time and frustration of “shopping around” and mentally trying to compare diamonds from different stores. Once you have decided to work with a diamond broker, your next challenge is find one who is qualified and will work diligently for you.   In my next artcile I will discuss how you select a qualified diamond broker, but for now I offer a few words of caution. Caveat emptor!   Not all diamond brokers are created equal. Increasing consumer interest in working with a diamond broker (and saving time and money) has lead some unscrupulous retailers and diamond merchants to misrepresent themselves as brokers working for the public. Whether you are shopping at the mall, in an independent jewelry store or on the internet, you should be wary of vendors offering to sell you “diamonds at or below wholesale cost.”   Often times they are merely selling stones they have purchased for inventory and are misrepresenting the quality grade and wholesale value of the diamonds. A true diamond broker does not own the diamonds they help a client purchase.   The broker’s responsibility is to help the client locate and purchase the best diamond available in the marketplace. First People’s Jewelers is a practice of diamond and jewelry experts who can help you purchase a beautiful diamond of high quality and value.  Among the services we offer are diamond brokering, custom jewelry design and jewelry appraisals.