You must arm yourself with knowledge. A consumer that has become familiar with the terms of the industry and understands the factors that affect the price of a diamond, will be able to choose a diamond with confidence and avoid the many pitfalls of buying a diamond. Most diamonds are graded on a set of ratings set forth by the Gemological Institute of America (GIA) or American Gem Society (AGS). Unfortunately, these gradings are often misrepresented by the sellers of the diamonds. Misrepresentation will occur intentionally or due simply from lack of knowledge.

One way to combat the unethical misrepresentation of diamonds is to buy a diamond that is followed by a independent diamond grading report. One example is from GIA (Gemological Institute of America). This report is the most respected in the industry. Another is AGS (American Gem Society). The diamond grading report is an expert 3rd party opinion of the diamond quality. The diamond grading report can contain information on identification, enhancements, carat weight, shape outline, measurements, color, clarity, and cut. Finally, a Graduate Gemologist, GIA and/or Certified Gemologist, AGS is a trained diamond expert, and is prepared to explain the sometimes' minute differences in diamonds that can greatly affect the price of a diamond.