Quick and Easy Buying Guide

Carat weight: 1 carat = 200 milligrams = 6.5 mm diameter. Doubling weight doesn't double diameter.

Diamond clarity: FL/IF/VVS/VS = super expensive, near perfect. SI = best value if you can check a photo for obvious inclusions (defects).


Color: D-G = colorless, expensive, only if you have money to burn. H-J = best value. Can go lower in gold metal settings than white metal.

Cut: Better cut ratings let more light into a diamond, making it sparkle more. Very important property, don't skimp here.

Set a budget and minimum cut (Premium). Go J color for gold and I/H for white metals. Go searching for SI1/SI2 clarity diamonds at James Allen. Pick a diamond with small/no inclusions. Choose a ring setting and buy it risk-free (60-day returns).


Diamond Exchange Ltd. is a publicly traded Australian company registered in Victoria. They have offices in Melbourne, Sydney and Brisbane, as well as internationally in New York, Antwerp and Tel Aviv. One of the roles of their international offices is to acquire diamonds that can then be put for sale.

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Each of their national offices have their own diamond grading laboratory which enables them to do their own diamond analysis and evaluation, rather than relying entirely on externally replied reports.

Most diamond companies like to be affiliated with industry associations, and diamond exchange is no exception to this rule. Here's a list of their affiliations:

Jewellers Association of Australia (JAA)

Gemmological Association of Australia (GAA)

Geological Society of Australia

New York Diamond Dealers Club (World Federation of Diamond Bourses)

Canada Jewellers Association

Canadian Diamond Code of Conduct

Jewellers Vigilance (Canada & USA)

Better Business Bureau (USA)

They also appear to be currently in the process of complying with certain quality assurance standards.

Solitaire Diamond Engagement Rings