We all know that buying diamond jewelry involves a big amount of money. If you want to end up with a smart buy, brush up on the basics about this precious stone.

Blue-white diamond is a term that is used by jewelers to describe a diamond, although fewer people use it these days. A suspicious diamond dealer will usually tell you that a blue-white diamond is of higher quality than other types, but the exact opposite is actually true.

The fluorescence that the diamond produces when ultraviolet waves pass through it is where the term blue-white diamond originated. Diamond becomes "milky" when under the sunlight because of this fluorescence therefore reducing its natural value. Avoid jewelers who are fond of using this term.

An ad that says "Sale" doesn't necessarily mean that you can save money from it. This scheme is used by some sellers of jewelry to earn more money. For example, a piece of diamond is said to cost $500 as its original price but it will be on sold for a discount of 50%. So the reduced price will now be announced as $250 even if the real value of the said jewel is actually only $200. With this scheme, the jeweler ends up making $50. When you see that "Sale" sign, don't immediately fall for it.

When buying diamonds, you should also know the three most common types in the market today. Pink diamonds are the rarest and most expensive of all diamond types. For many years, white diamond was considered as the most beautiful diamond all over the world until the discovery of the pink kind. White Diamonds are being produced by most diamond mines all over the world today. Champagne Diamonds have natural colors that can range from light straw to cognac while white Diamonds are most of the time brilliant and are of high quality.

When shopping for these stones, it is wise to bring along someone who knows how to spot good ones. Try doing a research about these things as well, especially if you seem to have developed a passion for them. Buying diamonds isn't something that should be taken lightly since a large amount of money is involved so it is always good to buy something that you will treasure forever.