The Transformation of Diamond Cut Quality Grading

 

From the Tolkowsky Ideal to Modern Cut Grades, Why Proportions Still Matter

For more than a century, diamond cutters, gemologists and scientists have attempted to answer one fundamental question:

What makes a diamond well cut?

The answer has evolved considerably.

What began with the scientific study of diamond proportions and the development of the Ideal Cut has become a sophisticated system of modern cut grading that considers light performance, proportions, symmetry, polish, durability and the way the human eye perceives brilliance and scintillation.

Yet beneath all of the modern technology, one fundamental principle remains:

A diamond is a three-dimensional optical instrument, and its proportions determine how light travels through it.

This is why the measurement of proportions remains such an important part of understanding diamond cut.

The beginning of scientific diamond proportions

Long before today’s sophisticated computer modelling, diamond cutters were experimenting with angles and proportions to improve the appearance of the round brilliant.

In the late nineteenth century, Henry Morse used a goniometer to investigate diamond angles and proportions and developed cutting principles intended to maximise brilliance. His work became associated with what was subsequently known as the American Cut, Scientific Cut and eventually the Ideal Cut.

This work was followed by the mathematical and optical studies of Herbert Whitlock, Frank Wade and, most famously, Marcel Tolkowsky.

In 1919, Tolkowsky published Diamond Design, analysing the geometry of the round brilliant and the relationship between its proportions, angles and the return of light.

The importance of this work was not simply that Tolkowsky produced a set of numbers.

It was that diamond cutting was increasingly being treated as a measurable optical science rather than simply an artistic craft.

DCLA’s own educational material traces this development and explains how the Ideal Cut became associated with variations of the original Tolkowsky model.

What is the Tolkowsky Ideal?

The Tolkowsky model became one of the most influential references in modern round-brilliant cutting.

The principle was relatively straightforward: the pavilion and crown geometry, together with the table and other proportions, must work together so that light entering the diamond has the greatest opportunity to be reflected internally and returned through the crown.

The commonly referenced Tolkowsky proportions are approximately:

• Crown angle: approximately 34.5°
• Pavilion angle: approximately 40.75°
• Table: approximately 53–57%
• Total depth: approximately 59.3%

These figures should not, however, be treated as a rigid recipe.

Modern research has demonstrated that the optical performance of a diamond is determined by the relationship between its proportions, rather than by one measurement considered in isolation.

DCLA similarly explains that table, depth, crown angle, pavilion geometry and other elements work together to determine the diamond’s interaction with light.

This is an important distinction.

The science is in the relationships.

From proportion analysis to cut grading

For much of the twentieth century, diamond professionals relied heavily on measured proportions when assessing the quality of a round brilliant.

A diamond could be measured, its angles calculated and its proportions compared with recognised standards.

That created something extremely valuable for the trade:

repeatability.

If two qualified people measured the same diamond correctly, they could arrive at essentially the same numerical proportions.

The diamond did not change because the person looking at it had a different opinion.

The pavilion angle remained the pavilion angle.

The crown angle remained the crown angle.

The table remained the table.

The depth remained the depth.

This is one of the great strengths of proportion analysis.

DCLA describes proportions as the relationships between the dimensions and angles of a finished diamond and identifies them as fundamental to understanding brilliance, fire and scintillation.

The arrival of modern cut grades

The development of modern grading systems changed the way diamond cut was communicated to consumers.

Rather than presenting the purchaser with a collection of angles, percentages and measurements, laboratories increasingly sought to reduce the information into a single overall grade.

Today, major laboratories use cut-grading systems that combine measurable characteristics with assessments of the diamond’s overall appearance and performance.

GIA’s research into cut grading illustrates how the industry moved from proportion-based approaches towards increasingly sophisticated systems incorporating three-dimensional modelling and human observation.

This was a major development.

It made cut quality easier to communicate.

But it also introduced an important philosophical difference between measuring a diamond’s physical proportions and assigning an overall quality grade to the diamond.

They are not necessarily the same thing.

A grade is a category — proportions are measurements

This distinction is frequently misunderstood.

A cut grade is a classification.

A proportion measurement is a physical observation.

For example, diamonds can fall within the same broad cut-grade category while having different crown angles, pavilion angles, table sizes and other proportions.

GIA’s research into cut grading specifically recognises that diamonds within a single grade can have variations in appearance and proportion combinations.

This means that a broad cut grade does not describe one exact geometry.

It describes a range of diamonds that fall within the laboratory’s defined parameters and assessment methodology.

Consequently, two diamonds carrying the same broad cut grade are not necessarily proportionally identical.

Why scientific proportions remain important

This is where proportion analysis remains particularly valuable to the professional.

A numerical proportion report tells us what the diamond actually is.

It provides the measurable geometry of the stone.

For a round brilliant, this can include:

• Table percentage
• Total depth percentage
• Crown angle
• Crown height
• Pavilion angle
• Pavilion depth
• Star length
• Lower-half percentage
• Girdle thickness
• Culet
• Diameter measurements

These measurements provide a permanent technical record of the diamond’s physical construction.

They can be independently measured, compared and reproduced.

That makes them particularly valuable to manufacturers, cutters, gemologists and laboratories.

DCLA’s educational material on proportion grading explains the importance of these measurements in assessing the balance of a round brilliant diamond.

Proportions are not simply numbers

It would also be wrong to suggest that one number determines whether a diamond is beautiful.

A pavilion angle cannot be assessed independently from the crown angle.

A table percentage cannot be considered without considering the crown and pavilion geometry.

Likewise, total depth alone does not tell us whether a diamond will perform well optically.

Modern research has reinforced this point.

GIA’s work demonstrates that the various proportion parameters are interrelated and that a complete understanding of diamond appearance requires more than looking at one measurement in isolation.

Therefore, the correct scientific approach is not:

“What is the table?”

or:

“What is the pavilion angle?”

It is:

“How do all of these proportions work together?”

The Tolkowsky model and modern science

It is important to recognise that Tolkowsky’s work was conducted using the scientific knowledge and optical modelling available in the early twentieth century.

Modern diamond science has gone considerably further.

Three-dimensional ray tracing, computer modelling, automated proportion measurement and optical-performance analysis allow researchers to model an enormous range of possible combinations.

GIA’s current historical review of cut grading describes the transition from early two-dimensional ray tracing to increasingly sophisticated three-dimensional approaches to understanding how light travels through a round brilliant diamond.

That does not make the Tolkowsky principles obsolete.

Rather, it places them into their historical context.

The fundamental concept that diamond geometry controls the behaviour of light remains central.

The science has simply become considerably more sophisticated.

Where modern grading becomes more subjective

Modern cut grading has another important dimension:

human perception.

A diamond does not exist in isolation from the person viewing it.

Brightness, fire and scintillation are visual phenomena.

GIA therefore incorporated extensive observation testing into the development of its cut system, recognising that appearance is ultimately experienced by the human observer.

That is an important scientific distinction.

It means there is a difference between:

What can be measured

and

What a person perceives.

The first can be quantified.

The second involves human observation.

Consistency is the strength of proportion grading

This is why proportion grading remains so important in professional diamond assessment.

A proportion measurement is not an opinion about whether somebody likes the diamond.

It is a measurement of the diamond’s physical geometry.

When modern non-contact scanners and optical measuring systems are used correctly, the diamond can be measured with a high degree of precision.

This creates an important bridge between traditional craftsmanship and modern technology.

The cutter can see what has been produced.

The manufacturer can compare stones.

The laboratory can record the geometry.

And the consumer can be given measurable information rather than relying entirely on terminology.

The difference between a scientific measurement and a grade

This distinction deserves emphasis.

A proportion is a measurement.

A cut grade is an interpretation based on a grading methodology.

Both can be useful.

But they answer different questions.

A proportion analysis asks:

What are the physical dimensions and angles of this diamond?

A cut grade asks:

How does this diamond fit within a particular laboratory’s definition of cut quality?

Neither question should automatically be confused with:

Which diamond will an individual person find most beautiful?

That final question involves visual preference, lighting, movement and perception.

The modern laboratory approach

Today, the most comprehensive understanding of diamond cut comes from combining the disciplines.

Measurement tells us the geometry.

Optical modelling helps us understand how light interacts with that geometry.

Symmetry and polish tell us about execution and finish.

Light-performance analysis examines brightness, fire and scintillation.

Human observation helps establish how those differences are actually perceived.

This progression can be seen in the development of modern cut-grading research, where numerical proportions have increasingly been combined with optical modelling and observations of diamond appearance.

Why proportions still matter at DCLA

At the Diamond Certification Laboratory of Australia, we believe that understanding a diamond begins with understanding what the diamond actually is.

A laboratory report should not replace knowledge of the stone.

It should enhance it.

DCLA’s educational material explains that cut refers to proportions, symmetry and finish, and that these characteristics influence how light travels through the diamond and ultimately its brilliance and fire.

The modern transformation of cut grading has given the industry valuable tools for communicating diamond quality.

But a single word such as “Excellent” cannot communicate every physical characteristic of a diamond.

The actual proportions remain important.

They tell us how the diamond has been constructed.

They allow professionals to compare diamonds on a consistent technical basis.

They assist manufacturers in analysing cutting decisions.

And they provide a numerical record that can be independently measured and reproduced.

From the Ideal Cut to the diamond of today

The history of diamond cutting is therefore not a story of old science being replaced by new grading.

It is a progression.

Morse, Wade, Whitlock and Tolkowsky helped establish the scientific study of diamond proportions.

Modern laboratories expanded that work through computer modelling, ray tracing, observation testing and sophisticated measurement technology.

The result is a much deeper understanding of diamond appearance.

But one principle remains unchanged:

The beauty we see in a diamond begins with the geometry we cannot see.

A diamond’s proportions determine the pathways available to light.

The cutter determines those proportions.

The measuring instrument records them.

The scientist can model them.

The laboratory can assess them.

And ultimately, the observer sees the result.

For more than a century, the industry has continued to refine the relationship between proportion, light and beauty.

The Tolkowsky Ideal was an important milestone in that journey.

Modern cut grading is the next chapter.

And at DCLA, understanding both is essential to understanding the diamond itself.

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Further reading and DCLA resources

DCLA — Diamond Proportions
Understanding Diamond Proportions

DCLA — Proportion Grade
How DCLA assesses proportion grade

DCLA — Ideal Cut
The Ideal Cut and the Tolkowsky model

DCLA — Diamond Cut
DCLA guide to diamond cut

DCLA — Cut Grade
Understanding Diamond Cut Grade

DCLA — Diamond Light Return
How cut, angles and facets control diamond light return

DCLA — Buying a Diamond: Cut, Colour, Clarity & Carat
DCLA’s guide to buying a diamond

GIA — The Transformation of Diamond Cut Quality Grading
GIA research on the evolution of diamond cut grading

GIA — A Foundation for Grading the Overall Cut Quality of Round Brilliant Cut Diamonds
GIA’s foundational research into round brilliant cut grading

De Beers London launches Vibrations

 

De Beers London presents Vibrations: a High Jewellery universe inspired by the quiet yet enduring power of inland water. The collection celebrates De Beers London’s deep connection to the Earth and its diamond-sourcing countries. Dedicated to life-enriching bodies of water in Botswana, South Africa and Canada, three new sets join Echo, the first set unveiled in January 2026, which was inspired by the Fish River Canyon in Namibia.

“Vibrations embodies our ambition for De Beers London High Jewellery: to create a distinctive expression of High Jewellery, rooted in our connection to the source and brought to life through creativity, innovation and exceptional craftsmanship. From new expressions of diamond cutting to remarkable transformability, Vibrations pushes our artistry forward while celebrating diamonds of extraordinary rarity and character. We are particularly proud to unveil the collection in London, where every De Beers London creation begins, while remaining deeply connected to the landscapes from which our diamonds come.”
Emmanuelle Nodale, CEO De Beers London

Inspired by Inland Waters

As the only House with a direct connection to the source of its diamonds, De Beers London is uniquely placed to celebrate water as Earth’s elemental force. Vibrations captures the emotional resonance of water on the cusp of transformation: a river about to cascade down a precipice, droplets clinging to a verdant riverbank, or freshly crystallised clusters of ice. The abstract designs take inspiration from inland water: perpetual motion, grounded and invigorating.

Vibrations draws parallels between the transformative power of inland water as it gradually shapes the Earth’s landscape, and the billion-year journey of each De Beers diamond. Whether meandering through a lush delta or carving a path through ancient metamorphic rocks, inland water has the capacity to sustain life and alter the landscape. Fluid and dynamic, it has a vital energy that prevails. Likewise, De Beers diamonds are formed by phenomenal forces deep within the Earth, shaped into unique designs that mark what matters, and that will endure.

A Tribute to the Source

De Beers London’s privileged access to rough diamonds means only the most remarkable stones appear in its High Jewellery. Vibrations is defined by diamonds of exceptional rarity and beauty, selected directly from the origin, and transformed into wearable works of art that reflect the unique character of the landscapes where their journey began.

The collection showcases seven diamonds from the Natural Works of Art collection, representing the pinnacle of quality and character, including Fancy Pink and Blue diamonds, among the rarest stones the Earth has ever produced.

De Beers London’s High Jewellery artistry is expressed through the intricate articulation of the pieces, evoking the fluidity and movement of water. Three of the designs are transformable, permitting multiple styling options through technical ingenuity and masterful craftsmanship

GemFair: Diamonds Sculpted by River Currents

Flowing throughout the Vibrations collection are rare alluvial white diamonds, sculpted by powerful forces of water and discovered by independent artisans on ancient riverbeds in Sierra Leone. These diamonds originate from GemFair, a sourcing initiative that supports artisanal miners through traceability, fair prices, ethical practices and sustainable community development.

Appearing for the first time in De Beers London High Jewellery in both rough and polished forms, the artisanally sourced diamonds are individually selected for their character and quality. Rough white diamonds are particularly rare, requiring stones of exceptional purity and brightness.

Traced directly to their origins in Sierra Leone’s tropical river valleys, GemFair diamonds are a tangible link to where the journey begins, connecting De Beers London’s creativity with the Earth’s life-sustaining waters. They ground the collection in origin, celebrating the profound links between diamonds, water and the communities who work with them.

Echo

The Echo suite takes inspiration from the Fish River Canyon in Namibia, where over millions of years the ancient Fish River carved its meandering path through Africa’s largest canyon. In tribute to the river’s steady persistence, five fluid designs recall the rippling patterns that radiate across the surface after a pebble is dropped into water. The creations celebrate the contrast between the brilliance of polished white diamonds and the tactile beauty of rough alluvial diamonds sourced via the GemFair initiative, creating a play of light reminiscent of reflections on rippling water.

A transformable necklace is the masterpiece of the Echo set, featuring a 1.12-carat Fancy Intense Blue diamond from the Natural Works of Art collection, sourced in Namibia. Its colour mirrors the Fish River’s waters, and contrasts with precisely calibrated waves of custom-cut white diamonds that graduate in size, recalling echoes reverberating around the canyon. Expertly articulated to drape across the neck like a river traversing a canyon, the Echo Necklace transforms into six unique jewels, including a necklace, tiara, bracelet and earrings: the first time De Beers London has unveiled a piece of such technical complexity. The set also comprises a ring featuring a 5.21-carat D Flawless diamond, alongside a brooch, bracelet and earrings.

Cascade

The Cascade suite takes its design cues from Tugela Falls in South Africa, the highest waterfall in Africa. A towering force that plunges for more than 980m over sheer basalt cliffs, sending clouds of misty foam rising from its depths, Tugela Falls is a magnificent example of the intensity of Earth’s inland water. The four Cascade creations evoke the dramatic power of falling water through sculptural volumes, billowing silhouettes, swirling streams of diamonds and soft-blue chalcedony, the first time the hardstone has been used in De Beers London High Jewellery.

Chosen for its gentle translucency, luminous glow and aquatic hue, chalcedony is often linked to water. A fluid sautoir of chalcedony beads sourced from Namibia represents Tugela Falls’ steep plunge and the misty foam rising from the cascade. A pair of earrings feature a removable tassel of chalcedony beads. Elsewhere, carved chalcedony sourced from Kenya is shaped into bold curves that mimic the turbulent energy of a plunge pool. The Cascade designs combine round brilliant, pear- shaped, oval-cut, baguettes and princess-cut and pavé-set diamonds in swirling streams like colliding currents.

Shimmer

The Shimmer suite draws inspiration from the Arctic frost flowers that form in Canada’s Ellesmere Island, and the unique pink light observed during long polar transitions. As the sun hovers close to the horizon, ice crystals and cold air bend the light, casting vivid magenta, pink and violet hues across the island’s snow-capped peaks, glaciers and fjords. Rare Fancy Pink diamonds capture the pinkish glow of dawn and dusk across this icy wilderness, while intricate patterns of white diamonds echo the frozen crystalline patterns that form on newly created ice during still, cold weather, supporting microbial life like Arctic coral reefs.

Comprising seven pieces, Shimmer is defined by lace-like motifs that echo the delicate clusters of ice crystals that form frost flowers, while also connecting to the Couture tradition of High Jewellery. Prioritising fluidity and articulation, the geometric designs combine unusual diamond cuts including triangular and navette-shaped diamonds. The suite showcases four rare Fancy Pink diamonds, including a pair of harmonious pink diamonds from the Argyle mine. The Shimmer Masterpiece Necklace is set with a 2.07-carat Fancy Intense Pink diamond unearthed in Botswana, and a Shimmer ring features a 0.81 carat Fancy Intense Pinkish Purple diamond chosen for its remarkable saturation and clarity.

Undulation

The Undulation suite pays tribute to the Okavango Delta in Botswana, the Earth’s largest inland delta and home to some of the world’s most protected species. A vast oasis within the Kalahari Desert, the Okavango Delta boasts a unique wetland habitat within which a rich and diverse ecosystem can thrive. De Beers is deeply connected to Botswana, and particularly to the Okavango Delta, whose source waters it is committed to protecting through Okavango Eternal, a multi-year conservation project in partnership with the National Geographic Society.

The Undulation Suite comprises six fluidly articulated designs whose undulating curves mimic the path of the Okavango River as it traces the contours of the Delta’s lush vegetation. The sinuous shapes are trimmed by rough green diamonds, among the rarest diamonds ever unearthed.

For every 10,000 Fancy coloured diamonds discovered, just 10 display a natural green shade, created over millions of years as a result of natural radiation deep within the Earth’s crust. Every rough diamond was chosen for its unique character, creating a rich palette that reflects the diversity of shades in the Delta’s vegetation. Together, they are a tactile connection to the Earth and testament to De Beers London’s ability to source singularly rare diamonds whose scarcity is equalled by their beauty.

Introducing Cabochon-Cut Diamonds

The Undulation designs are finished with De Beers London’s cabochon-cut diamonds, introduced for the first time in High Jewellery. With softly rounded profiles reminiscent of water droplets resting along the river’s edge, the cabochon cut softens the way light is reflected, creating a deep, luminous glow rather than sharp brilliance. The cabochon cut has long been associated with coloured gemstones; applying the same shape to diamonds presented a distinct challenge due to their exceptional hardness.

A specialised cutting technique was developed over five years, involving precision technology to achieve a smooth, domed form while preserving the character of each diamond. With no facets to conceal inclusions, the cabochon cut places the diamond’s character fully on display, requiring rough diamonds of exceptional quality and purity alongside cutting-edge lapidary skills.

Such exacting requirements mean that less than 0.5% of diamonds meet the necessary colour and clarity criteria, and fewer still possess the optimal crystal structure, symmetry and quality. De Beers London’s diamond experts identified the rare stones with the potential to take on this distinctive form, before skilled diamond cutters shaped them into a distinct expression of the source waters that have nourished the Earth for millennia.

Source: debeersgroup

Does a Famous Jewellery Brand Make a Better Diamond?

 

The luxury of the name, the value of the stone, and what happens when you come to sell

Walking into a prestigious jewellery boutique is an experience.

The polished stone, the carefully designed interior, the champagne, the personal attention and the beautifully presented jewellery all contribute to a sense that you are purchasing something truly exceptional.

And sometimes you are.

But there is an important question that every sophisticated jewellery buyer should ask:

Are you paying for a better diamond or gemstone — or are you paying for the brand surrounding it?

The answer can be both.

The diamond does not know whose box it is in

A diamond’s physical properties do not change because it is mounted in a famous piece of jewellery.

Its colour, clarity, carat weight, cut, proportions, fluorescence and other gemmological characteristics remain the same whether the stone is set by a world-famous luxury maison or an independent jeweller.

A 1.50-carat diamond does not become a 1.60-carat diamond because it carries a prestigious name.

Likewise, a diamond graded as a particular colour and clarity does not automatically become a higher-quality stone because it was purchased from an internationally recognised brand.

This is where independent diamond knowledge becomes important.

DCLA’s Diamond Grading Report provides an independent description of a diamond’s characteristics, including its carat weight, colour, clarity and cut.

A luxury brand can provide extraordinary design, craftsmanship, provenance, service and heritage. But these are different attributes from the intrinsic gemmological characteristics of the diamond itself.

So why can branded jewellery cost so much more?

Because the jewellery is more than its raw materials.

When you purchase from a major luxury house, you may be buying:

• The brand’s heritage and reputation
• Original design
• Highly skilled craftsmanship
• Boutique and after-sales service
• Marketing and global recognition
• Packaging and presentation
• Limited collections
• Celebrity association
• Provenance and collectability
• The emotional experience of owning it

These elements can have real commercial value.

The important distinction is that commercial value and intrinsic gemmological value are not necessarily the same thing.

Does a famous brand make jewellery more valuable?

Not necessarily.

It can make a piece more desirable to a particular market, and in some circumstances that desirability can translate into a stronger resale price.

But that is not guaranteed.

The secondary market operates very differently from the luxury boutique.

When a customer buys a new piece of jewellery at retail, the price can include the brand, boutique experience, design, manufacturing, marketing, distribution and retail margins.

When the same piece is sold later, the next buyer may not place the same value on those elements.

This is why the original retail price should never automatically be treated as an indication of future resale value.

DCLA has also highlighted the distinction between the price originally paid for jewellery and its potential value when sold later. Retail prices can include manufacturing, design, branding, retail margins, GST and other costs that may not be recoverable in the secondary market.

The difference between retail value and resale value

This is one of the most misunderstood areas of jewellery ownership.

Imagine two rings containing diamonds with broadly comparable gemmological characteristics.

One is purchased from a famous international maison for $50,000.

The other is purchased from an independent jeweller for $25,000.

It would be incorrect to assume that the first ring will necessarily be worth twice as much when it is sold.

The resale market may place considerable importance on the brand — or it may focus primarily on the diamonds, precious metal, design, condition and current market demand.

The circumstances of the sale also matter.

A private sale, specialist auction, dealer purchase, insurance replacement valuation and immediate sale can all produce very different figures.

There is no single “value” for a piece of jewellery.

Where famous brands can make a difference

There are situations where the brand itself can become an important part of the value.

Certain historically significant pieces, rare collections, discontinued designs and jewellery with exceptional provenance can attract collectors.

At auction, the identity of the maker can be highly relevant.

A piece from a recognised maison with documented provenance, original paperwork and a desirable design may have a very different market than an otherwise similar piece from an unknown manufacturer.

But this is the crucial distinction:

The brand can create collectability. It does not automatically create gemmological quality.

What about the diamond itself?

This is where buyers should look beyond the name on the shopping bag.

When considering a significant diamond purchase, understand exactly what you are buying.

Look at:

Carat weight
The weight of the diamond, not simply the overall size of the jewellery.

Colour
For white diamonds, colour grading can have a significant influence on value.

Clarity
The nature, position and visibility of inclusions matter. DCLA’s Diamond Clarity guide explains how clarity is assessed and why it can influence a diamond’s appearance and value.

Cut and proportions
Two diamonds with identical carat weight, colour and clarity can look dramatically different because of their cut and proportions. DCLA explains the importance of diamond cut, proportions, symmetry and polish in determining light performance and appearance.

Natural or laboratory-grown
This distinction is fundamental and should be clearly established. DCLA discusses the differences between natural and laboratory-grown diamonds, including their different market characteristics.

Laboratory report
For significant diamonds, independent documentation can provide important information about the stone’s characteristics.

Provenance
For some exceptional diamonds, documented history can itself become an important part of the story and potentially the market appeal.

The boutique experience is real — and there is nothing wrong with paying for it

There is another side to this discussion.

Why do people buy luxury jewellery from famous boutiques?

Because jewellery is emotional.

People are not always trying to buy the cheapest diamond or achieve the lowest possible price per carat.

They may want to celebrate an anniversary.

They may want a particular design.

They may admire a maison’s history.

They may want the experience of walking into a beautiful boutique and being treated exceptionally well.

They may simply love the piece.

That experience has value to the person buying it.

There is nothing wrong with paying a premium for something you genuinely appreciate.

The mistake is assuming that the premium automatically represents an equivalent increase in the underlying value of the diamonds or gemstones.

Jewellery is not always an investment

This is perhaps the most important point.

A beautiful piece of jewellery can be a wonderful store of wealth, a family heirloom or an object that carries enormous emotional significance.

But buying jewellery primarily because you believe the retail price will automatically be recovered — or exceeded — when you eventually sell is a very different proposition.

Luxury jewellery should not be confused with a guaranteed investment.

Even exceptional jewellery can take time to sell, and the price achieved will depend upon market conditions, the buyer, the selling channel, the condition of the piece, documentation, desirability and many other factors.

So what are you really buying?

When purchasing high-end jewellery, it is useful to separate the purchase into three components:

1. The materials

The diamond, coloured gemstones and precious metals.

2. The craftsmanship and design

The skill involved in creating the piece and the originality or desirability of its design.

3. The brand and experience

The name, heritage, boutique experience, packaging, service, marketing and emotional connection.

All three can have value.

But they are not interchangeable.

A buyer who understands this can make a much more informed decision.

The DCLA perspective

At DCLA, our role is to examine the diamond and provide objective gemmological information about its characteristics.

A diamond does not become scientifically superior because it is sold from a particular boutique.

Equally, a famous brand should not automatically be dismissed as simply a premium for a name. Design, craftsmanship, provenance, rarity and collectability can all contribute to the market appeal of a piece.

The intelligent approach is to understand what portion of the price relates to the diamond, what relates to the jewellery itself, and what relates to the brand.

Then you can decide how much the complete experience is worth to you.

DCLA explains that a diamond grading report is not a valuation. A grading report documents the characteristics of the diamond, while a valuation estimates monetary value for a particular purpose and point in time.

Because ultimately, there is nothing wrong with buying the beautiful box, the boutique experience and the famous name.

Just make sure you also know exactly what is inside the box.

DCLA — Independent Diamond Expertise

When purchasing a significant diamond, independent gemmological assessment can help separate the diamond’s documented characteristics from the marketing and retail presentation surrounding it.

DCLA examines diamonds according to recognised gemmological standards and provides independent diamond reporting and certification services. Its grading process examines characteristics including colour, fluorescence, clarity, cut, proportions, polish, symmetry and transparency.

Know the diamond. Understand the jewellery. Then decide what the name is worth to you.

DCLA reports are gemmological documents and are not valuations. Market value can vary according to the circumstances of sale, market conditions, provenance, design, brand, condition and other factors.