Fancy shapes are any other shape than Round. Being irregular in shape, these stones do not have a model for ideal proportions as do round stones. Fancy shapes are judged on the length to width ratio of the stone and then on the amount of 'bow tie" (optical effect created with the loss of light through the bottom of the stone). Here are some basic guidelines to follow for each particular shape.
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Diamond Clarity
The clarity of a diamond is related to its purity. In other words, the freer the diamond is of imperfections, the more rare and more valuable the stone becomes. Diamonds are graded using a universal grading scale for clarity that was designed by Robert M. Shipley of the Gemological Institute of America in the 1940's. The grading scale takes into account the ease of finding inclusions, as well as the number, nature, and location of the inclusions. A summery and explanation of the clarity scale can be found below.
FL (Flawless)
No inclusions or external blemishes can be found by a skilled grader, using 10x magnification.
IF (Internally flawless)
No inclusions, only slight surface blemishes, can be found by a skilled grader, using 10x magnification.
Vvs1 (Very, Very slightly included 1)
Extremely difficult to find minute inclusions by a skilled grader, using 10x magnification.
Vvs2 (Very, Very slightly included 2)
Very difficult to find minute inclusions by a skilled grader, using 10x magnification.
Vs1 (Very Slightly included 1)
Difficult to see minor inclusions by a skilled grader, using 10x magnification.
Vs2 (Very slightly included 2)
Somewhat difficult to see minor inclusions, using 10x magnification.
Si1 (Slightly included 1)
Easy to find noticeable inclusions, using 10x magnification.
Si2 (Slightly included 2)
Very easy to find noticeable inclusion, using 10x magnification.
I1 (Imperfect 1)
Obvious and or multiple inclusions under 10x magnification. Often visible to the unaided eye.
I2 (Imperfect 2)
Obvious and or multiple inclusions, easily visible by the unaided eye.
I3 (Imperfect 3)
Extremely obvious and multiple inclusions, extremely easy to see with the unaided eye; Can affect durability.
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Diamond Color
The color grade refers to how much body color the diamond possesses, if any. Difference from one color grade to another is very subtle and takes years of experience to properly identify. Diamonds range in color from being totally absent of color to having very obvious color. Most diamonds have a hint of yellow or brown due to a high nitrogen component.
The universally accepted color-grading scale was developed by the Gemological Institute of America. The scale ranges from D through Z. DEF graded diamonds are completely colorless, GHIJ are near colorless, and K through Z graded diamonds have increasing amounts of body-color. Most people prefer diamonds whose color grade falls from colorless to near colorless. The G.I.A. scale can be found below.

Natural fancy colored diamonds are rare but can be found in a wide range of colors from intense fancy yellows (canaries), blues, greens and the rarest pinks, purples, and reds. Some fancy colored diamonds on the market today have been enhanced in a laboratory using irradiation and heat. A color origin report from G.I.A or E.G.L. is highly recommended before you consider purchasing a fancy colored diamond.
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Diamond Carat
Diamonds, like any other gemstones, are traded based on their weight or size. The unit of measurement used to describe a gem's weight is carats. A carat is equal to 0.20 of a gram or in other words five carats equals one-gram. A carat is further subdivided into points, like pennies in a dollar. A carat has 100 points. A three-quarter carat diamond equals 75 points or 0.75 of a carat. The larger the diamond, the rarer and more valuable it is.
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Diamond Certification
A diamond certification is an independent grading report of a diamond. It is your third party opinion of the stone quality. Do not rely on an in-house appraisal that cannot be completely unbiased. A grading report scientifically analyzes the Carat weight, Clarity, Color, Measurements, and Proportions, and gives you a plot of the diamond's features. From a certificate or grading report any gemologist can positively identify your diamond. Two of the most highly regarded independent grading laboratories in the world are the Gemological Institute of America (G.I.A.) and the European Gemological Laboratory of Los Angeles, California (E.G.L.). These institutions issue written documentation of the diamond's quality.
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