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After carat weight, Clarity has the most influence on cost. However, grading inclusion size, quantity, color, reflectivity, placement and type is difficult, and graders are humans trying to mediate between buyers and sellers. Ultimately, diamond grading reports are just "expert opinions" under 10 power magnification. Even GIA has given different grades for the same diamond.
 
High clarity is symbolic of "purity" and rarity. Diamond 'quality' traditionally meant 'Clarity'. Flawless and VVS (Very Very Slighty Included) diamonds are said to be "investment grade,” but that is nonsense, as demand and liquidity of medium clarity, SI (Slightly Included) and VS (Very Slightly Included), makes them easier to sell or trade-up. Inclusions in diamonds are rarely "flaws" that result in breakage like you may see in emeralds. Well-cut medium clarity diamonds are just as brilliant as flawless diamonds.
 
Diamonds may have inclusions that are only visible with a loupe or a microscope, but are not visible to the naked eye. These are called “eye clean” diamonds.
 
The Pricescope community definition of an Eye Clean diamond: No visible inclusions to the unaided eye when viewed from the face up position in daylight equivalent or fluorescent lighting from 6-12 inches (15-30cm) using 20/20 vision.
 
http://journal.pricescope.com/Articles/78/1/What-is-an-Eye-Clean-Diamond--.aspx Things to let your vendor know about your parameters for an eye clean diamond:
 
1. If you can see clearly from less than 8 inches (20cm), or if you are nearsighted, then you should let your vendor know what distance you require for a diamond to be considered eye clean.
 
2. If you wish your stone to be eye clean from the side or the underside, please tell your vendor. Vendors and labs rarely take this into account when grading clarity.
 
Approximately 1 in 100 people can see VS2 inclusions, so if this worries you, then buy VS1, or wait a decade till your ability to focus close-up diminishes. ;-)
 
Most grading reports have plots of inclusions (marked in red for internal, and green for external features); they are useful for identification. Often only the main "grade makers" are plotted, and additional inclusions are listed in comments: "pin points not shown" etc. A worrying 'comment' is "Clouds Not Shown"; a cloud drawn on plots can look so bad that no one would buy the diamond. Clouds are only a problem on SI1 and lower clarity's if no other inclusion is marked on the plot, i.e. the cloud is the grade maker. Big clouds can dull the diamond. But it is rare for even I1 diamonds to be dulled by inclusions.

 
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Color »

 
Diamonds with SI1 (left) and I1 (right) Clarity, 10x magnification.
 
   


Imperfect - I (Pique - P)


Slightly Included - SI


Very Slight - VS


Very, Very Slight - VVS

 
  

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