Question 1

What Is A Loose Diamond?

Accepted Answer

In general, terminology when someone says "loose diamond" usually means a diamond that was cut and polished. So a loose diamond is the end product that started with a rough diamond that came out from the mine.

A loose diamond is a diamond ready for sale and ready to be mounted on a ring, a pendant, earring or any piece of jewellery. Some customers like to hold loose diamonds in a safe for investment purposes.

When you have a loose diamond in your hand, you can inspect the 4 C's of the diamond from all different aspects such as weight, dimensions, depth, colour, and clarity. All major appraisal companies will never certify a diamond if it's mounted, but only when loose.

Question 2

What Are the Popular Loose Diamond Shapes?

Accepted Answer

Round Diamonds: The most classic and popular choice for jewellery, round diamonds are commonly purchased to be set in solitaire pendants, for earrings or in an engagement ring. Round brilliant loose diamonds are popular as their 58 facets allow light to reflect light and create dazzling sparkle.

When selecting a loose round diamond, we recommend optimising for cut as that is the characteristic that determines how much sparkle the diamond has. Apart from the popular brilliant cut, loose round diamonds can also be found in the old mine or European cut. These round diamonds have larger, more open facets. Some prefer the look of these diamonds.

However, they do not sparkle as intensely as brilliant-cut diamonds. This style of diamond cutting is a bit older and was utilised more when diamonds were hand cut. Most retailers can find either type of diamond for you.

Princess Diamonds: These square-cut diamonds are the second most popular diamond shape. Typically these are in a perfect square but can also be found in a slightly rectangular shape. These diamonds are often purchased loose to be set in engagement rings or as a matching pair for earrings.

The princess diamond also has 58 facets, and sparkles are brilliant as a round diamond—other names for the princess diamond as a square modified bright or a rectangular modified brilliant. When purchasing a princess diamond, pay special attention to the length to width ratio, especially if you desire a perfectly square diamond.

Also, when setting a princess diamond, ensure that you consider the delicate corners of a square diamond and pick the appropriate type of setting.

Cushion Diamonds: Apart from princess and round, cushion diamonds are the next most popular shapes for diamond jewellery and especially engagement rings. Cushion diamonds are considered to be a beautiful blend of both round and princess shape.

The corners are rounded, but the diamond does have a squarish shape. Like the brilliant round diamond, the cushion diamond also has 58 facets. The cushion cut is also known as a pillow cut diamond. When purchasing a cushion diamond, be sure to consider both the cut and the length to width ratio.

Focusing on the cut will ensure that the diamond looks symmetrical and is crafted to sparkle brilliantly. The length to width ratio is the best determinant of how to square the diamond is. These are important considerations to make if purchasing the diamond for an engagement ring or any other jewellery.

Emerald Diamonds: An emerald diamond is a unique and striking diamond shape. It is cut in a step pattern, with symmetrical steps leading up to the table. The diamond still has 58 facets with three rows of top steps and three rows of bottom steps.

An emerald shaped diamond, colour and clarity should be the most important consideration. This is because a lower colour and clarity are more easily visible in the larger top facet of the diamond. Emerald shaped diamonds are typically purchased for engagement rings.

Also, keep the length to width ratio if you are particular about the diamond being rectangular or square.

Other less common shapes that are available are oval, pear, Asscher, marquise, and radiant. These are less commonly purchased but can also be used for engagement rings and other types of jewellery.

Question 3

What Are the Different Loose Diamond Cuts?

Accepted Answer

Diamonds have been cut in a variety of different styles over time. While diamonds were hand-cut in the past, they are primarily machine cut nowadays. Loose diamonds can be found in three types of common cutting styles.

Brilliant Cuts: This is the most commonly found diamond cut on jewellery. The diamond is cut to have more facets to allow for more reflection of light throughout the diamond. This enables any piece of jewellery to look dazzling from any angle.

Brilliant cut diamonds are machine cut to ensure precision and symmetry among the many facets. The most common shape for the brilliant-cut is the round diamond. In brilliant-cut diamonds, more of the rough must be cut away to craft the diamond.

Therefore, a brilliant-cut diamond can be more expensive than those that are cut in other ways. However, the brilliant-cut diamond has the most popular appeal and, therefore, the most resale value.

Brilliant Cut: The modified brilliant-cut is also known as a fancy cut diamond. This means that the cutting style is the same as in a round diamond. However, the shape of the diamond can vary. Common modified-brilliant shapes are heart, oval, marquise, oval and pear.

With these types of shapes, not as much rough must be wasted as in the round brilliant. Therefore they can be less expensive than brilliant rounds. However, it is important to consider diamonds with excellent or very good cut grades as the cutting style can determine the diamond's sparkle.

Also, consider that fancy shapes like princesses and hearts can be more delicate due to their pointed corners.

Step Cuts: Step cut diamonds are less popular but are unique in their look. They have facets that run parallel to each other and the edge of the stone. The facets are cleanly cut and precise, and attention is drawn to the large facet at the topmost point of the diamond.

This elegant and unique type of cut has scintillation and shine. The most famous type of step cut is an emerald shaped diamond. Step cut diamonds maximise most of the original diamond weight and carat size. Therefore, it can be more cost-effective to purchase a step-cut diamond.

Old World Cuts: Old world cuts are those which were crafted by hand for older diamonds. These loose diamonds are also known as European cut, Rose cut, and the Old Miner cut. Before the round, a brilliant cutting method was perfected, and machines came into the forefront.

This was the primary style of diamond cutting. Antique jewellery pieces or those crafted before the 1900s were crafted with this cutting style. These diamonds have larger, more open facets and are not always optimised for symmetry. Because of their large facets, they do not sparkle as much as the brilliant-cut diamonds. Some prefer the intense sparkle of the brilliant cut, while others prefer the softer sparkle of the old cut diamond.

Question 4

What Diamonds Are Best to Buy?

Accepted Answer

When purchasing, GIA or IGI diamonds are typically what we recommend and hold inventory for. The reasoning is, these are the most trusted laboratories with the strictest standards.

Many GIA and IGI diamonds are also inscribed microscopically on the girdle to be identified with 50x magnification easily.

Overall, wherever you decide to purchase, be sure that you can trust the retailer and have a return policy if you are not satisfied with the diamond.

Question 5

Are Diamonds a Good Investment?

Accepted Answer

On paper, diamonds make great investment sense. They have high intrinsic value, they're always in demand, and they last forever - plus, they're small, portable and easy to store (unlike that priceless Ming vase you just had to have at auction). And, like most gems and precious metals, past performance shows that they will increase in value over time.

In reality, however, diamonds have very sketchy investment potential. One of the main reasons for this is that diamonds come in very inconvenient packages. Unlike gold - which is valued by weight because, let's face it, one block of gold is pretty much the same as every other block of gold - diamonds don't have a universal price per gram.

When no two stones are the same, every diamond has to be valued on its merits, and, most of the time, that valuation is going to be somewhat subjective. This means choosing which diamond to buy in the first place can be the trickiest part.

Despite this, many people are investing in diamonds - more so now that traditional investment opportunities fail to deliver the goods. Moreover, low-interest rates and falling markets make investing in diamonds look appealing to add to a diverse

10+ Best Places to Buy Loose Diamonds in Melbourne, Victoria (2026)

H&H Jewellery

All Diamonds

Diamond Exchange

GemTrove

Argyle Diamond Investments Pty Ltd

Jogia Diamonds

Temelli Jewellery Melbourne

Tallulah Designer Jewellery

Larsen Jewellery

Vogue Ballroom - Wedding Venue Melbourne

Our Venues

CONTACT US