A diamond’s grade is a reflection of its quality and value. It is determined by an appraisal that takes all the above factors into consideration. When you buy a diamond, you should also receive a diamond certificate that details its value and grade. The size(carat), color, clarity and cut all impact the overall grade and value of a diamond – these values are also referred to as the 4 C’s of diamonds. Each of these characteristics has an impact on the overall value of the stone and is considered when the stone is graded.