Marilyn Monroe cooed eons ago that diamonds are a girl's best friend. The trend of coveting diamonds has been around since then and shows no signs of aging. A diamond — be it transparent, blue, or red — is said to be forever. This stone will never go out of style. Whether you're at the diamond-giving end or the receiving one, you must know if you're investing in the right piece. However, it turns out that putting a price on the stone is much trickier.

Valuing the stone

The age-old adage that the jeweler knows the value of his jewel could not be more accurate. Many people know the cliched 4C's to evaluate diamonds — carat, color, clarity, and cut. A similar-sized and shaped diamond from the same designer can be priced differently. Though people assume the cost of a diamond to be dependent on its carat, there's more to it. Diamonds come in clear tones and different colors and cuts. Factors responsible for grading diamonds include the material of the diamond, its cut, dimensions, and shape. Gemmology experts pin the pricing of a diamond on higher color depth, carat, and clarity.

Making a Planned Purchase

If you plan to spend your money on purchasing the showpiece, the most sensible thing to do is to know what you are seeking. Once you've made up your mind on a particular type of diamond, research your way through the plethora of options available to you. Look for authenticity through certification. The next step is to do a comparative analysis of diamonds based on the characteristics sought. The rarer the diamond, the higher the cost. Once you know what you are purchasing, you'll have a better perception of the gem.