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).
2.88 Carat Actual Size (Princess Shape)
The precise size of a 2.88 carat weight princess shape diamond will vary depending on the depth of cut, but will typically be around 19.8 mm along one square edge. The photo in this page shows an L 1/2 ring size; this is around the average size for a female. Some advice for how to use the information on this page is to initially narrow down your size range, and then to go into stores and try diamonds out in person, armed with this prior knowledge.
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Don't stress if diamonds and the dollars involved are getting you down; since a diamond will most likely appear bigger on a woman's hand, the diamond size you need may be smaller than you think.