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Here are some methods to help you determine if a Diamond is real…or a fake
1. Transparency Test: Diamonds should not be transparent completely. Diamond Cutters International recommends turning loose diamonds upside down over a newspaper or other piece of paper with typed words printed on it. If you are looking at a real diamond, typically you will not be able to read the text through the diamond. If you can read the text, the stone you are looking at does not have the proper light dispersion properties a real diamond possesses.
2. Reflection Color: Because of the refraction index of diamond, the reflection and sparkles within the stone are typically described as “grey” or “steel” in color. According to GoldSmart.com, stones that have rainbow like reflections are likely not genuine diamonds.
3. Fog Test: Diamonds are able to disperse heat rapidly and a light huff of breath on the stone should fog it up but that fog will vanish almost instantly. A fake diamonds may stay fogged for 2 seconds or longer according to National Jeweler’s Supply.
4. Perfection: Any natural stone will have some minute flaws and inclusions or “birth marks”, and a gem that is perfectly flawless should be examined with great care to be sure it is real rather than being lab-created. While real flawless diamonds are available, if the stone in question is offered at an unforgettably affordable price, it may not be a real gem.
If it seems too good to be true, it could be a scam or a fake.

Buying a diamond ring can be intimidating. What do you look for? How much should you pay? Should you buy online or in a store?

Demystify the process by learning about the four C’s: carat, color, clarity and cut. This system of grading diamonds was developed 60 years ago by the Gemological Institute of America.

Then do some research by visiting a trusted or referred jeweler. You can confirm information provided by the jeweler directly with the GIA, or by online research. You’ll soon understand your options. Here’s a primer on the four C’s and other advice.

THE FOUR C’s

—Carat is a weight measurement. A 1-carat diamond weighs 200 milligrams. The key here is a carat is a measure of weight, and does not exactly indicate surface area size. There can be a significant difference in size of the surface of your diamond visible from above. This is where Cut becomes so critical. There is no ideal size for a diamond. It depends on your budget and taste. Some women want a big rock; others prefer a delicate, less blingy look.

Small diamonds of the same quality are of course less expensive than larger diamonds. A ring with three small diamonds totaling 1 carat costs less than a single 1-carat stone of similar quality.

—Color is graded by letter, starting with D for rare, colorless diamonds. E and F are considered excellent, but G or H diamonds will look just as good to the naked eye.

Farther down the scale, you’ll notice differences. “If you put a K color beside a G color, you’ll notice more yellow in the K,” said Russell Shor, senior industry analyst for the Gemological Institute.

—Clarity measures diamond flaws, called inclusions, which might appear as tiny spots, clouds or cavities in the stone. The clarity grade SI stands for “slightly included.” VS is a better grade, “very slightly included.” VVS is even higher, “very, very slightly included.” Most inclusions in the VVS-SI range cannot be seen by the untrained eye “unless someone tells you where it is,” Shor said. Keith Saxe of NYC Wholesale Diamonds adds “most SI2 clarity diamonds will have inclusions clearly visible to its wearer, be careful here”.

—Cut measures workmanship, rather than a diamond’s inherent qualities. The way a stone is cut enhances sparkle and luminosity and can hide flaws. The best cut rating, ideal, is rare. About a third of diamonds are rated fair, good or very good. Saxe adds “Cut determines the sparkle, fire and brilliance of a diamond. Knowledge on what determines that a diamond is an Ideal Cut is the key to diamond buying success”. Shor states “The one thing you should not trade off on is the quality of the cut,”. “Even a nice color stone, if not well-cut, will be dull and lifeless. But if it’s a middle color — like K — and it’s got a real excellent cut, it will pop and flash with all the sparkle that diamonds are famous for.”

After choosing the cut, “balance the color, clarity and carat weight based on your personal preference to find the best diamond for you and your budget,” said Amanda Gizzi, spokeswoman for Jewelers of America.

Christie’s New York is poised to sell the largest fancy intense pink Golconda diamond ever offered at auction when the “Princie Diamond” goes up for bid on April 16.

The Princie is a 34.65-carat fancy intense pink cushion-cut diamond whose origin can be traced to the ancient Golconda mines in south central India. The stone was first recorded as belonging to the royal family of Hyderabad, who ruled one of the wealthiest provinces of the Mughal Empire.

First offered at auction in 1960 by the Nizam of Hyderabad, the London branch of Van Cleef & Arpels purchased the Princie Diamond for £46,000 (approximately $69,588 in today’s currency). The diamond got its name at a party at Van Cleef’s Paris store, where it was christened in honor of the 14-year-old Prince of Baroda, who attended the gathering.

This is the first time in 50 years that the diamond has appeared at auction, and Christie’s expects it to “achieve in the region of $30 million to $40 million.”

“One of the largest and finest pink diamonds in the world, the Princie Diamond carries a fabulous provenance. The rich history, combined with its rare pink hue, conveys a special charm, which will speak to all collectors in the world seeking the best of the best in gemstones,” said Francois Curiel, chairman of Christie’s jewelry department.

UPDATE

The Princie Diamond sells at high end of estimate and breaks multiple auction records

The $39.3 million sale of the “Princie Diamond” set new world records for the most valuable Golconda diamond sold at the auction and the most valuable diamond ever sold at Christie’s and in the United States.

The ring Napoleon gave to Josephine sold for 896,400 euros (including fees), or $1.15 million at French auction house Osenat

The ring had an estimate of $23,500 to $26,000.

“In my wildest dreams, I did not think we would outsell the estimate by more than 47 times,” Emily Villane, an auction house spokeswoman, told ABC News. “We based the estimates in our catalog on the actual market value of the ring, minus Napoleon and Josephine provenance. It is not our job to tell bidders how much they should pay for the historical premium.” The ring features a pear-shaped sapphire and a diamond. The combined weight of the two is the less than a carat.

Geneva–The largest D color flawless diamond ever offered at auction will go up on the block this spring at Christie’s Geneva sale of Magnificent Jewels, scheduled for May 15.

The 101.73-carat pear-shaped diamond is one of the largest pear-shaped stones discovered to date, and also is one of the most perfect, graded by the Gemological Institute of America as a D color, type IIA flawless stone.

Offered for sale for the first time, the diamond’s pre-sale estimate is “in the region of $20 million,” Christie’s said. {This blog’s author’s sale price estimate is significantly higher}.

“A perfect diamond is the result of the skill and vision of a master cutter who is able to uncover beauty from a rough gem. This diamond is in its scale, quality and rarity one of the most beautiful ‘white’ diamonds Christie’s has ever had the honor of offering for sale,” said Rahul Kadakia, head of jewelry for Christie’s Switzerland and Americas.

The buyer of the diamond will have the privilege of establishing their legacy by naming the gem, after which the diamond will join the ranks of the world’s most illustrious and famous diamonds, “opening a new chapter in jewelry history,” Christie’s said.

The Cullinan I, a 530.20-carat colorless, type IIA gem that is part of the British Crown Jewels, currently is probably the most well-known pear-shaped diamond in the world. It also ranks as the largest known colorless diamond.

Fine gemstones have experienced a surge in demand at auction over the past few years, Christie’s said, with the auction house holding multiple world auction records for valuable colorless diamonds.

The 101.73-carat diamond will go on an international tour prior to the May 15 auction. It will be at Christie’s New York from April 13 to 16; Christie’s Hong Kong from April 26 to 27; and Christie’s Geneva from May 10 to 15.

UPDATE

Geneva–The 101.73-carat pear-shaped diamond sold for $26.7 million at Christie’s Geneva on Wednesday, May 15 setting a new world auction record for a colorless diamond.

Jewelry and watch company Harry Winston, which recently was acquired by Swatch Group, purchased the D color, flawless diamond and, as is the tradition with large, important stones, gave it a name: the “Winston Legacy.”

Are you a little jealous that a new jewelry designer just made a cool million? In a recession? No? That’s really well adjusted of you. By the way, she’s six. Toddlers and Tiaras star Isabella Barrett is six years old and she just made a million dollars, and you are failing at life.

You know, I wondered for a second if I would think that anyone being a millionaire by the time they were first grade was just kind of absurd, but I really don’t think I’d think that about Shirley Temple. I’m pretty sure Shirley Temple would get a pass.

Only Shirley Temple, though. I doubt this kid can dance. Mostly she just seems to design jewelry. According to In Touch:

At 6, Bella is a mini mogul who’s raked in more than $1 million in the past year with Glitzy Girl, a line of kids’ jewelry and makeup she created with her mom, Susanna Barrett. “It’s a lot of fun,” the little entrepreneur tells the new issue of In Touch. “I’m the boss!”

I mean, it sounds like Isabella actually does go to the factory and pick out pieces, so she’s doing a lot more than many celebrity jewelry designers. And at least something good came out of Toddlers and Tiaras for someone. Even if this does seem to indicate that being a jewelry designer is something a six year old in a shiny suit can do.