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).
Bevilles Jewellers
Bevilles Jewellers is an Australian retail chain with 28 stores across the country. They specialize in "jewellery, watches and giftware" (seems to be a standard phrase for a lot of diamond retailers). Their stores are located in Queensland, New South Wales, Victoria, South Australia and the ACT.
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They also offer an online site that is slightly more usable than the typical Australian jewellery retailer (some sites are real shockers). You can actually see on the website a lot of products that they have available, rather than just reading vague marketing hype.