So, when shopping for a diamond engagement ring you want to do it right. It should be beautiful, lasting and in a style your future bride will love.

In addition to appearance, you also want to buy a diamond of high quality. A diamond is a symbol of your love, but it is also an investment that is often passed down to future generations as an heirloom.

Fred Cuellar, CEO of Diamond Cutters International and author of How to Buy a Diamond is the diamond expert for Modern Bride magazine and diamond advisor to MSNBC and creator of several Super Bowl and Stanley Cup championship rings.

Cuellar has some advice for future grooms looking to impress the women they love.

There are two things to remember when buying diamonds, the alphabet rules and the four C' s, according to Cuellar.

Many people are familiar with the four C' s color, cut, carat and clarity. The Alphabet rules are Cuellar' s quick lesson in finding the best of these qualities. Buyers can remember the acronym LMNOP, which stands for loose, magnify, negotiation, opinion and plot to help them when they are on the hunt for the perfect stone.

Loose means always purchase a loose diamond rather than buying a diamond and setting together. A young guy walks into a jewelry store, they want to sell him the rack stereo, Cuellar said. But a better deal is to be had with a loose diamond that will not only allow the buyer to customize the perfect ring, but also yield a better stone at a better price.

While purchasing a loose diamond might take a little more work, a gift that is meant to complete the phrase “Will you marry me?” is worth it.

There are several reasons why buying a loose diamond yields a better quality and a better deal. The setting might hide flaws in a diamond that has already been set, and the true color and weight cannot be verified.

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Magnify means always study the diamond under a magnification. Many jewelers have powerful microscopes available that will even show the customer the image on a video screen, Cuellar said. If the jeweler offers a small magnifier on a key chain, ask to see the diamond with something more powerful.

When comparing diamonds under a microscope, look for any inclusions or blemishes in the stone. If any of these blemishes can be seen with the naked eye, then it is a diamond of poor quality.

Negotiate

Many think the tag price of diamond is the final offer, however, Cuellar says negotiation is an important part of the diamond purchasing process.

Most people just figure well that' s the price, Cuellar said. What they don' t know is that jewelers typically mark up a stone for 100 percent more than they are willing to sell it for, according to Cuellar.

If you are looking at a diamond that is $2000, start bidding at half that, Cuellar said.

Even if the customer and jeweler have agreed on what seems to be a reasonable price, Cuellar said it iis in the customer' s best interest to get a second opinion. Shop around. Visit more than two stores and do not be afraid to tell a jeweler that you are going to get a second opinion, Cuellar said.

The last step in Cuellar' s quick diamond purchasing lesson is plotting. Ask the jeweler to plot the characteristics of the diamond on a grid so that the qualities can be verified by another appraiser if necessary.

Taking these steps will likely take care of the four C' s that apply to quality, but what about the fifth C as Cuellar calls it, cost?

Cuellar recommends grooms-to-be choose a maximum price and stick with that when shopping for a diamond. While many diamond experts suggest that two month' s salary is the rule of thumb for an engagement ring, Cuellar recommends one month' s salary for those that are willing to do their homework and take time to find the best stone for the best price.

To gain insight on what a diamond should typically cost, check out the Rapaport diamond report, which is the wholesale price list for diamonds based on their proportions. Retail price for diamonds is usually two times the Rapaport pice, according to Cuellar. Cuellar said it is important to know that the Rapaport price is based on class 3 diamonds. There are four classes of diamonds. “Most diamonds are poorly proportioned,” Cuellar said. “For a well proportioned (namely, class 1 and 2) diamonds expect increases (from the Rapaport price) of a third to 43 percent.”

When it comes to choosing the stetting for the diamond, the bride' s taste should be the foremost consideration.

Settings come in gold, white gold and platinum. Platinum is the most expensive metal, but also the most sought-after because it is stronger than the other metals and sets off the brilliance of the diamond well.

Many couples choose to go ring shopping for ring settings before the engagement. However, if a surprise proposal is important to you and your bride-to-be, asking the advice of friends and family can help ensure that she will be love the ring you chose.

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