What Are Loose Diamonds?

Loose diamonds are diamonds that are cut and polished but have not yet been put into jewelry. You cannot wear loose diamonds, although you can collect and store them. 

Loose diamonds are available from all diamond merchants. You can either buy them online or offline and save some dollars as they are relatively cheaper. However, you should be careful that you only buy loose diamonds from certified merchants and that the diamonds also carry a certificate of authenticity. 

Let’s talk more about loose diamonds, their properties, why some people prefer to buy them, what to look for when buying a loose diamond, and other important information about them. 

What Is a Loose Diamond?

Diamonds are naturally mined at many locations on the planet. A diamond just mined is referred to as a rough diamond. 

A rough diamond goes through a cutting and polishing process in order to get the shape and appearance that we are all familiar with. Rough diamonds are cut using highly advanced machines and tools. 

These machines ensure you can get the best color, shape, and sparkle out of the diamond. After a diamond is cut, it is sent through for polishing. After polishing, it is ready to be crafted into a ring or a necklace, or any other piece of jewelry. 

Loose diamonds are ready to be set into jewelry. Loose diamonds are available for sale in different carats, weights, and qualities. 

Tips for Buying Loose Diamonds

You need to keep the following things in mind while purchasing loose diamonds:

• Buy loose diamonds only from an industry-trusted vendor so that you know you are getting what you’re paying for.
• Don’t compromise on the loose diamonds’ color, clarity, cut and carat.  
• Decide on the diamond shape you want before you start searching, as this will help narrow down your search and also save some dollars.
• Look for diamonds that are colorless and have clarity. 
• Buy only certified diamonds that have grades provided by reliable, independent grading entities like GIS or AGS.
• If possible, compare your selected diamond with other diamonds of the same grade to ensure you are picking the best ones.
• Finally, talk to an expert if you’re looking for advice.

Why Should You Buy Loose Diamonds? 

Some may wonder why they should buy loose diamonds as they cannot wear them. There can be a variety of reasons why you can consider buying loose diamonds. 

1. Value: Loose Diamonds Can Be a Future investment

Diamonds are valuable. You can purchase and store them as they can be sold later on. Some people keep loose diamonds as a form of investment, just like gold. 

2. Price: Loose Diamonds Are Cheaper

Loose diamonds are also cheaper than diamond jewelry. Since these diamonds are not set within gold or silver jewelry yet, you can buy them at a lower price.

3. Loose Diamonds Are Easier To Inspect

Since a loose diamond is visible from all angles (unlike diamonds already set into jewelry), you can inspect the quality more easily. You are less likely to overpay for loose diamonds as you don’t have to pay the other materials used.

4. Options: You Can Create a Custom Made Piece of Jewelry

You can get custom-made jewelry if you do not like the ready-made diamond jewelry from the store. You don’t have to be restricted by the designs of ready-made jewelry. Instead, you can take your time and have a jeweler create something unique. 

Loose Diamond Cuts

Diamonds are cut into different shapes from the start. They are cut into various shapes because different people have different tastes when choosing a gemstone. In the past, diamonds were cut by the hands of unique and talented craftsmen. 

Nowadays, the majority of diamonds available in the market are cut by machines. Some of the most prominent loose diamond cuts are the following:

Brilliant Cut

This diamond cut is one of the most common diamond cuts available on the market. The primary reason for the popularity of this diamond cut is that it has more facets than other diamond cuts. Due to these more facets, the diamond reflects more light and appears shinier. You will find this diamond appears to be dazzling from all angles. 

Brilliant cut diamonds are machine-cut diamonds. These diamonds require superior precision and symmetry to have so many facets. 

Brilliant cut diamonds are rounder in shape. Radiant diamonds are more expensive than other diamonds because most of the rough part of the diamond is discarded. You may also like to know that brilliant-cut diamonds have the most resale value.

Modified Brilliant Cut

This diamond cut is a better or modified version of the brilliant cut. It is also popularly known as the fancy-cut diamond. You will find that the cutting style of this diamond is similar to the brilliant cut due to the rounder shape of the diamond. The most common modified sharp cuts are heart, oval, marquise, oval, and pear. 

These diamonds are less expensive than a brilliant-cut diamond, and if you want to go overboard, you can also buy a princess diamond with sharp curves. 

Related article: Best Diamond Cut for an Engagement Ring

Step Cuts

Step-cut diamonds are less popular but are unique and distinct in their looks. These diamonds popularly have facets that are parallel to each other. These facets are cut with extreme precision and clarity. 

The most famous shape with a step cut is the emerald cut. The emerald cut is also cost-effective compared to other types of diamond shapes. 

Related article: Everything About Baguette Diamonds

The Pros and Cons of a Loose Diamond

Like everything, there are pros and cons to getting just loose diamonds. The clear advantage of a loose diamond is that it is generally more affordable than a set diamond.

Then there is also the issue of quality checks. It can be more difficult to assess the quality of a diamond that is already mounted on some jewelry. On the other hand, you can thoroughly inspect and look after a loose diamond. 

However, finding good quality loose diamonds is a time-consuming job and there are higher chances of getting cheated if you buy them from an un-certified seller.  

How to Choose Your Loose Diamond

Choosing or purchasing a loose diamond can be a challenging task. You must be aware of all the aspects of a diamond. You should have an understanding of the four Cs of a diamond cut: color, cut, clarity, and carat.

You also need to understand things like fluorescence, symmetry, and polish. It also matters whether you are purchasing the diamond: online or offline. 

The grading report of the diamond will provide you with all the details about the diamond. You will have to ask for this report from the vendor. 

If your jeweler does not provide you with a grading report, then you should not buy diamonds from them. The grading report will authenticate the claims that your vendor is making.  

Loose Diamonds: Lab Diamonds vs. Natural Diamonds

While selecting loose diamonds, you can choose between a lab diamond and a natural diamond. A lab-grown diamond is artificial, whereas natural diamonds are mined from the earth naturally. The laboratories mimic natural conditions such as the same heat, pressure, and so on. 

However, lab-grown diamonds are cheaper than natural diamonds. Also, if you want a traditional-looking piece of jewel, then natural diamonds are ideal.

Related article: Lab-Created Salt and Pepper Diamonds

Where Can You Buy a Loose Diamond

You can purchase loose diamonds both from online merchants or by directly visiting a reputed jewelry store. Both these outlets for loose diamonds carry their own merits and demerits, but in most cases, online retailers are able to offer better prices and generally also provide all certifications that you need to understand the quality of the diamond.

Frequently Asked Questions

Are loose diamonds valuable? 

Yes, loose diamonds are valuable. The value of your loose diamonds will not depend on their age. 

You can assess the value of your loose diamond based on the four Cs: color, cut, clarity, and carat. You can also learn about the quality of the loose diamond through the grading report. 

How can you tell if a diamond is loose? 

Loose diamonds are not set in any jewelry piece. A diamond that is polished and cut but not mounted on anything wearable is a loose diamond. Loose diamonds are available in a wide variety of shapes and cuts. 

Can a jeweler set a loose diamond? 

Yes, a jeweler, whether available offline or online, can set your loose diamond on any piece of jewelry in any style you want. If you want to create a piece of jewelry in a particular manner or with a specific cut, then your jeweler will customize the jewelry for you. However, customized jewelry is more expensive than ready-made jewelry. 

Wrapping Up

Loose diamonds are unique diamonds not mounted on any form of jewelry. As they are yet to be set in jewelry, they are uniquely customizable as per your requirements. You can also inspect a loose diamond for quality more thoroughly than one which is already set in gold or any type of metal. Moreover, loose diamonds are typically cheaper as well.

In this article, I’ve shared an assortment of information that can help you in purchasing a loose diamond. Thank you for reading!

Related article: Ideal vs. Super Ideal Cut Diamond