During our first hour or research, we were able to provide some mainly general information on the costs associated with cutting and polishing rough diamonds. We were able to determine that while the cost of diamond processing varies wildly when it comes to cutting and polishing diamonds, India has a population and knowledge level that allows it to keep costs significantly lower than other counties. We were also able to find waste information for one cut, the brilliant round, but not for the others. Our first hour of research led us to determine that most of the information about diamonds that is available to the public deals with the final price of the polished diamond. Some mentions of markups were provided in various sources, but they were primarily jewelry stores or retailers and the markups varied greatly. We searched for diamond industry, gem industry, and jewelry industry publications that may provide this information and found that many of them require memberships or subscriptions. The ones we were able to access provided tips on how to judge a good diamond but not on the prices associated with each step of the process of cutting and polishing a rough diamond.
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The first and vital step in the diamond cutting and polishing process is the analysis of the rough diamond. This step requires all-consuming imagination, skill and precision by an experienced diamond cutter. After analysing its size, shape, clarity and crystal direction, the best cut for the diamond is determined in order to maximise its end value and appearance. This step can only be completed successfully if done by a master diamond cutter whose trained eye and expertise affords him the ability to determine the best possible cut for the rough stone.
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A diamond cutter will consider various possibilities before deciding which of them will yield the best quality gem, as it is a diamond&#;s cut that determines its possibility to reflect light. Even if a diamond is graded well in terms of its colour, clarity and carat weight, a poor cut will result in a dull effect, which greatly affects the value of the stone.
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