Natural Diamonds at Wholesale Prices
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Natural Diamonds
A naturally sourced diamond is carbon that crystallised deep in the earth over billions of years, was mined, cut and polished, then independently graded before sale. Diamond Story lists natural loose diamonds in every shape, each with a GIA, IGI, HRD, GCAL or AGS report, ready to set in our Melbourne workshop.
Use the filters above to narrow the inventory by shape, carat, colour, clarity and cut. Prices move with live supply, so the stone you are looking at is the stone available today. Every diamond arrives with its grading certificate, and every one is sold loose so you choose the stone first and the setting second.
Diamond shapes
Shape is the fastest way to cut a very large inventory down to a shortlist. Every diamond shape below is available in this natural inventory. Round brilliant diamonds return the most light and account for most engagement rings. Oval diamonds and pear shaped diamonds spread the weight along the finger, so they read larger than their carat suggests. Emerald diamonds and asscher cut diamonds are step cuts with long open facets, which show clarity more readily and reward a higher clarity grade. Princess cut diamonds and radiant diamonds keep a square outline with brilliant faceting. Cushion cut diamonds soften the corners for a warmer, more antique look. Marquise diamonds and heart shaped diamonds are the two most distinctive outlines in the range.
What the 4Cs actually change
Cut, colour, clarity and carat are the four grades on every certificate. They do not carry equal weight in how a diamond looks on a hand.
| Grade | What it measures | What it changes visually | Where most buyers land |
|---|---|---|---|
| Cut | Proportion, symmetry and polish, how well the stone is made | The largest single effect on brilliance and fire | Excellent or Very Good, and worth prioritising over the other three |
| Colour | How close to colourless, graded D through Z | Barely visible face up until around I or J, more noticeable in larger stones | G to J, where the saving over D is significant and the difference is hard to see |
| Clarity | Size, number and position of internal inclusions | Nothing at all if the stone is eye clean | VS2 or SI1, chosen as eye clean rather than by grade alone |
| Carat | Weight, not diameter | Price rises sharply at the round numbers such as 1.00ct and 2.00ct | Just under a round number, for a stone that looks the same and costs less |
Certification and what the report tells you
Every diamond in this inventory carries an independent grading report. GIA is the longest established laboratory and is generally treated as the strictest, particularly on colour and clarity. IGI, HRD, GCAL and AGS are also represented here. The report is an assessment by a third party rather than by the seller, and it states cut, colour, clarity, carat, measurements, polish, symmetry and fluorescence.
When you are comparing two stones, compare reports from the same laboratory. Grading standards differ slightly between labs, so a colour grade from one is not a like for like match with the same letter from another.
Natural or lab grown?
Both are real diamonds. They share the same hardness, the same brilliance and the same optical properties, and a jeweller cannot tell them apart by eye. The difference is origin. A natural diamond formed underground over geological time. A lab grown diamond is created in a matter of weeks. Natural stones are the rarer of the two; lab grown stones cost less per carat, so the same budget buys a larger stone. If you are weighing the two against each other, compare the same specification in our lab grown diamond inventory.
Why buy the diamond loose
Buying a loose diamond separates the two decisions. You choose the stone on its own merits, see it out of a setting where nothing is hidden, and then choose the setting that suits it. It also puts more of the budget into the diamond rather than into a pre made ring. Diamond Story sets loose stones into engagement rings, pendants and earrings in our Melbourne workshop.
Buying natural at wholesale
Diamond Story is a diamond wholesaler as well as a retailer, so the stones on this page are priced from live supply rather than marked up on a shelf. That is why the range is this deep and why the GST-exclusive figures in the feed look different from a retail case: you are seeing the market as it stands today, not a curated selection of a dozen stones.
To see natural and lab grown together, along with the current specials, go to our complete loose diamond range. If you already know the specification you want and simply need the best price on it, that is also the quickest way to buy diamonds direct.
Frequently asked questions
What is a natural diamond?
A natural diamond is carbon that crystallised deep in the earth under heat and pressure over billions of years, then was carried toward the surface and mined. It is chemically identical to a lab grown diamond. The difference is origin and rarity, not composition. Every natural diamond Diamond Story sells arrives with an independent grading report.
Are lab grown diamonds real diamonds?
Yes. A lab grown diamond has the same chemical composition, hardness and optical properties as a mined one, and the two are indistinguishable to the naked eye. A grading laboratory identifies a lab grown stone by its growth pattern and its laser inscription, not by appearance. Both are sold as diamonds under Australian consumer law.
What is the difference between a natural and a lab grown diamond in price?
A lab grown diamond of the same carat, colour, clarity and cut typically costs a fraction of the natural equivalent. That means the same budget buys a visibly larger lab grown stone, or a higher specification. Compare identical specifications side by side in the Diamond Story lab grown inventory before you decide.
What are the 4Cs of a diamond?
Cut, colour, clarity and carat. Cut governs how the stone returns light and has the biggest effect on how it looks. Colour grades how close to colourless it is, from D down to Z. Clarity grades internal inclusions. Carat is weight, not size. You can filter Diamond Story's inventory by all four.
Which of the 4Cs matters most?
Cut. A well cut stone at a lower colour and clarity grade will out-sparkle a poorly cut stone with better grades on paper. After cut, most buyers get the best result by choosing an eye clean clarity rather than the highest grade, then spending the difference on carat or cut.
What does eye clean mean?
Eye clean means no inclusions are visible to the unaided eye at normal viewing distance, even though the grading report lists them. Many SI1 and VS2 stones are eye clean. Buying eye clean rather than flawless is the single most common way to get a larger diamond without a visible compromise.
What is a GIA certified diamond?
A GIA certified diamond has been independently graded by the Gemological Institute of America, which issues a report stating its cut, colour, clarity, carat and measurements. The report is an assessment by a third party, not by the seller. Diamond Story's inventory includes GIA, IGI, HRD, GCAL and AGS graded stones.
GIA or IGI, which certificate is better?
GIA is the longest established laboratory and is generally regarded as the strictest, particularly on colour and clarity. IGI grades a large share of the world's lab grown stones and is widely accepted. Compare stones graded by the same laboratory when you are weighing two diamonds against each other, because grading standards differ slightly.
Can I buy a loose diamond and have it set later?
Yes. Every stone in this inventory is sold loose. Choose your diamond first, then have Diamond Story set it into an engagement ring, pendant or pair of earrings in our Melbourne workshop. Buying the stone and the setting separately lets you put more of the budget into the diamond itself.
Do the prices shown include GST?
No. Prices in the diamond inventory are shown excluding GST, and 10 percent GST is added at checkout. The price on a Diamond Story product page already includes GST, which is why the two figures differ. The banner at the top of this page flags the same thing.
Can I see the diamond before I buy it?
Yes. Shortlist the stones you are interested in and book a time at the Diamond Story showroom in Little Collins Street, Melbourne to view them in person. If a stone in the inventory is not on site, we can bring it in for you to inspect before you commit.
What diamond shape should I choose?
Round brilliant returns the most light and is the most popular by a wide margin. Oval and pear look larger than their carat weight because the shape spreads the stone. Emerald and asscher are step cuts, so they show clarity more readily and reward a higher clarity grade. Princess, cushion, radiant, marquise and heart each sit between those extremes.
Not sure which stone is right?
Book a time in our Melbourne showroom and see your shortlist in person, or send us the specification you are after and we will source it.
Talk to our diamond team