Canary diamonds are prized for their color, and these stones are a great choice for a ring. Let’s look at some tips on how you can buy a cheap canary diamond ring.
What Is a Canary Diamond?
Canary diamonds are naturally occurring yellow diamonds. The color of canary diamonds is due to nitrogen impurities present in their crystalline structure.
Although yellow tints are considered a sign of low quality in regular white diamonds, this is not the case with canary diamonds. Their color is much more intense, and they are actually classified as fancy-color diamonds.
Canary diamonds are very rare and can be quite expensive.
What Determines the Price of a Canary Diamond Ring?
In general, the price of a canary diamond ring is affected by two main factors – the value of the diamond and the value of the band.
As a rule, the price of a particular diamond is determined by its rarity, i.e. how hard it is to find a similar stone.
The price of the band is mainly driven by the kind of metal it is made of and the amount used to make the ring.
Factors That Can Reduce the Price of a Canary Diamond
The most important factors that influence the price of a canary diamond are its color intensity, carat weight, and clarity level.
With these key characteristics in mind, here are some tips on how to pick a cheaper canary diamond:
Choose a diamond with a less saturated yellow color.
Color is the main factor affecting the prices of fancy-color diamonds, and canary diamonds are no exception. In general, the more intense the color of such a stone, the higher its price will be.
A commonly used grading system for the color of yellow diamonds consists of the following grades: Faint Yellow, Very Light Yellow, Light Yellow, Fancy Light Yellow, Fancy Yellow, Fancy Intense Yellow, Fancy Vivid Yellow, Fancy Dark Yellow, and Fancy Deep Yellow.
Therefore, in order to find a cheaper canary diamond, look for stones with a less intense yellow color. In the grading system above, the grades indicating lower color saturation will usually be cheaper.
For example, a yellow diamond whose color is graded Very Light Yellow will most likely cost less than a stone graded Fancy Intense Yellow.
Go for smaller canary diamonds.
Carat weight is another important factor determining the value of canary diamonds. In general, the bigger a diamond, the rarer it is, and this is why bigger stones command higher prices per carat.
So, it follows that if you want to reduce the price you pay for a canary diamond, you should look for smaller stones, which are disproportionately cheaper than bigger ones.
Pick a canary diamond with a lower clarity grade.
Clarity is another factor driving the prices of canary diamonds, although it is not as important as color and carat. But as with white diamonds, the general principle holds for yellow ones as well – the fewer visible flaws there are in a stone, the cheaper it is.
The good thing about canary diamonds is that you have more leeway in selecting lower clarity levels, as the color of these stones makes inclusions less visible than in white diamonds.
Choose a treated yellow diamond over a natural canary diamond.
Natural canary diamonds are very expensive. This is why the jewelry industry has introduced treated yellow diamonds. These stones were not originally yellow, but they have been subjected to irradiation or high heat to change their color.
Buying treated yellow diamonds is a good way to save some money compared with the more expensive option of purchasing a natural canary diamond.
Buy a synthetic yellow diamond.
Another way to save money on canary diamonds is to look for synthetic yellow diamonds. These stones are created in a lab, not mined in the earth and then treated to make them yellow.
Synthetic diamonds are no different from natural diamonds in terms of chemical and physical characteristics, but synthetics are cheaper.
Factors That Can Reduce the Price of the Ring
The main factors you should focus on when looking for a cheaper canary diamond ring are the metal the band is made of and the design of its setting.
The amount of metal used is also important: Thinner and narrower bands will cost less than wider and thicker ones.
Here are some tips on how to find a cheaper ring:
Pick white gold over platinum.
Platinum is a popular metal for diamond rings, but it is one of the most expensive options.
To get a cheaper canary diamond ring, select a band that is made of white gold – it will look similar to platinum but cost less.
Yellow gold is another option if you want to save some money on your ring, but don’t forget that high-karat yellow gold is also relatively soft and therefore not very durable.
Choose a simply designed setting.
The king of setting you pick for your canary diamond ring will also affect its price. Generally, settings that are more complex to make are also more expensive.
To reduce the price of your canary diamond ring, choose a setting that is relatively simple to make. For example, prong settings are very popular, and they are also among the most affordable.
If you want a safer mounting, however, a bezel setting is a good choice. Depending on its design, it might be more expensive than a prong setting, but the bezel will hold your canary diamond securely, making it less likely to fall off.
Where to Buy a Diamond Ring?
For diamond rings, we highly recommend James Allen (read our review) because it shows real photos and videos for each diamond so you can take a 360-degree look at any stone before having it set in a ring.
Also read our Diamond Buying Guide and check out our selection of eye-clean diamonds that we've vetted for quality.
Looking to Sell Your Jewelry?
To sell diamond jewelry or watches, go to WP Diamonds and fill out the valuation form to get an estimated price.
If you have gold, silver or platinum to sell, check out the Ross-Simons Gold Exchange.