Mike Fried has been in the diamond industry for nearly 15 years. He and his business partner run a web site that helps people buy diamonds without being ripped off. Today on the 402nd episode of The Art of Charm we talk about which of the 4 Cs are most important, whether or not you should really spend 3 months’ salary on a ring and what certification companies you can trust, and which you can’t.

“Plenty of grooms are opting for cheaper metals, like titanium, ceramic and cobalt,” says Ira Weissman, founder of Truth About Diamonds, a shopping guide for wedding and engagement rings. “These alternative metals often have a more masculine look that appeals to men who might otherwise be averse to wearing jewelry. Not only are these materials less expensive than gold and platinum, but they’re also more durable.”

Back in February 2012, Ira Weissman, was invited to take part in an episode of the now defunct Anderson Cooper daytime talk show. Ira provided the ring for a flash-mob proposal that happened on-air. Ira also recorded this video which was posted on their website in an article entitled 5 Tips for Buying Diamonds (which is no longer available since the canceling of the show).

According to Mr. Weissman, Signet has major incentives for selling a low quality product: the company focuses on sustaining high profit margins, has high fixed infrastructure costs, and a target market of middle-to-low income Americans. Mr. Weissman noted that quality issues are more of an issue at Kay and Zales, and less of an issue at Jared.

The Truth About Diamonds website, which is run by former diamond industry worker Ira Weissman and says it aims to help consumers by giving them advice about buying diamonds, has written that The Rapaport Price List is only the beginning stage of pricing a diamond.

TruthAboutDiamondscom is chock-full of helpful information on how to buy the perfect engagement ring.

The main reason you think diamonds are valuable, according to expert Ira Weissman and renowned journalist Edward Jay Epstein, is that De Beers has been working very hard for almost a century to convince you that they are.

To limit returns, try buying from a website that features high definition photos. This will better enable you to clearly see any imperfections in the stone, says Ira Weissman, the founder of diamond shopping guide TruthAboutDiamonds.com.