Because a good quality diamond is hard to come by, it is very valuable indeed. There's no need to buy expensive branded jewelry from Tiffany unless you are making an investment. Consider affordable jewelry like costume jewelry.
Explanation of Cut, Color and Clarity of This Diamond
Cut Quality Diamonds of premium cut are almost as good as ideal. While nature determines the color and clarity of a stone, diamond cut is dependent solely upon the skill of the cutter. Premium cut diamonds may be close to the ideal cut proportions and look just identical. Most people cannot distinguish between the two. However, there is a slight difference in quality and reduction in price over ideal cut diamonds.
Color An E color diamond is extremely rare and slightly less expensive than a D but is so similar that most people won’t be able to tell the difference. You pay a serious premium for an E color diamond. Diamonds of this color grade will appear colorless even when observed face down.
Clarity VS1 clarity diamonds are very slightly included grade one. VS1 diamonds are less expensive than the VVS1 or VVS2 grades and present an excellent value. They have minor inclusions that are bigger and more noticeable than in higher clarity grades, but they are only visible at 10x magnification. To the naked eye, these diamonds will appear unblemished.