Blue Nile Founder Explains Everything You Need to Know About Buying a Diamond Ring

Posted Dec 16, 2010 03:48pm EST by Peter Gorenstein

In the market for a diamond ring? It's a process that can be filled with excitement, especially if you are getting engaged. But let's be honest -- it can also be stressful.

Luckily, if you're in that camp, your friends at Tech Ticker have some great advice from Michael Vadon, co-founder and chairman of Blue Nile, the online jeweler.

Vadon's advice for picking out a diamond ring:

Step 1: Start with a budget.

Step 2: Know what color jewelry she favors. Does she wear platinum or gold? This is key in determining the ring's band.

Step 3: When it comes to the famous four "Cs" (color, clarity, cut and carat), start with the cut. "The first thing I tell people is, you've got to go with the best cut diamond," Vadon says. "Whether or not they shine or sparkle is whether or not they're cut properly." So pick cut over carat, even if that means picking a smaller stone.

Step 4: After cut, focus on clarity. "If you're trying to save a little bit, you're gonna try to go with clarity in the 'VS' or 'S1' range," Vadon says. He adds that no one will know the difference: "To the naked eye, it will look absolutely clean and beautiful.

http://finance.yahoo.com/tech-ticker/blue-nile-founder-explains-everthing-you-need-to-know-about-buying-a-diamond-ring-535729.html?tickers=nile,tif,^ixic,rth