You do have to understand the policies for money back guarantee diamonds though and know that the return policy is not the same for all jewelers. You should always ask about this guarantee when you purchase a diamond. You should also ask about the Kimberley certificate for the diamond to ensure that it is a non-conflict diamond.

A non conflict diamond is one that comes from a country where the sale of diamonds goes towards supporting the economy of the country as a whole. This name has been given to diamonds from some countries because there are parts of the world where the mining of diamonds is a business used to support wars and terrorist acts.

The UN has a published list of country names from which diamonds can legally be imported. They must be accompanied by a Kimberley certificate attesting to the fact that they are not blood diamonds or conflict diamonds.

Legitimate jewelers will gladly show you this certificate when you want to buy a diamond or at least refer to their supplier to find out if the supplier has such a certificate. Once you ascertain the legitimacy of the diamond, you should ask about the policy for a money back guarantee. Diamonds sold under such policies can be returned for a full refund within a time frame set by the retailer. This can be for any reason.

If you do purchase a diamond and then find the same one at a lower price from another jeweler, you can also take advantage of the money back guarantee diamonds policy. Usually the time frame for this is 90 days and basically means that if you find the same diamond at a lower price and the jeweler can verify it is the same stone, you will receive a refund of the difference between the prices.

When you purchase a diamond, you will receive a certificate of authenticity, which may or may not include an appraisal of the diamond. This certificate only attests to the fact that the diamond is real and is not a cubic zirconium diamond, which is man-made. You can have the diamond appraised yourself at one of three internationally recognized gemological institutes.

If the diamond is loose, you can choose GIA or EGL, but ICI appraisals does analyze the stone when it is set in a piece of jewelry. If you find that the stone has not been appraised for the amount you pay, then you can return it to the jeweler taking advantage of the policy for money back guarantee diamonds.

An appraisal of a diamond is an important part of being able to insure the loose diamond or the jewelry. Insurance providers require this certificate so that they have proof of the estimated retail value of the stone should it be lost or stolen. IGI appraisals will give you details about the diamond related to the four C's ? cut, clarity, color and carat.

The carat is the weight of the diamond and while this does translate into a higher price, the other factors affect how much you pay for it as well. The highest priced diamond is one that is pure white with no imperfections, which can be natural flaws or flaws caused in the cutting process.

Buying a diamond is an expensive proposition and you must make sure that you get the best value for your money. Jewelers selling money back guarantee diamonds also have other aspects of the policy that are of interest, such as being able to upgrade to a more expensive diamond by only paying the difference between the one you previously purchased and the one you now want and free cleanings for life.