Based on the standard established by the International Committee on Weights and Measures, the weight of a 1 carat diamond is 200 milligrams or one-fifth of a gram.

Diamond grading is often assumed to be an exact science. In reality, it is a very subjective practice. A qualified gemologists judgment of a diamonds grade is merely a visual opinion based on previous experience and training. While many consumers have been taught to look for GIA reports as "the final word of expertise" when they purchase a diamond, the GIA report itself clearly states: "This report expresses an opinion at the time of inspection of the stone, not a guarantee, valuation, or appraisal. No representation or warranties as to the accuracy are made." Yet, many diamond purchasers are willing to pay a premium for this certificate.

There are four Cs that you should pay attention to while making your loose diamond purchase; carats, clarity, color and cut. Educate yourself before making a purchase in the four Cs and you will get a better deal and quality for your moneys worth. Unless you have a lot of money to spare, it is important to determine which C is most important to you. Ranking them according to your own order of priority will be helpful in deciding to go for a bigger diamond with less brilliances or a smaller one with more flare. Briefly describing each: Diamond Carat - refers to the weight of diamonds. Diamond Clarity - measures the amount of inclusions (inclusions interferes with light passing through, therefore lowers the brilliance and fire). Diamond Color Grading - evaluates the whiteness of loose diamonds (the more yellow the less its worth). Diamond Cut - measures the quality, not shape of the diamonds (better cut results in more sparkle, simple as that)

Although diamond cutters frequently create new shapes to accommodate unusual rough crystals, the most common diamond shapes used for diamond jewelry are round, pear, heart, marquise, oval, emerald and princess cuts. There are other gemstone shapes used as side or accent stones in jewelry, such as baguette, tapered baguette and trillion.

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