This necklace is the type of jewelry worn when dressing up in a formal evening grown and attending a banquet, matched with earrings like the ones shown below and an appropriate ring and bracelet. There are no upper limits to high-end jewelry. Setting a ten-carat, gem-quality Mogok ruby in the center of this necklace, with large diamonds to each side, would put its price at several million dollars. In the realm of important jewelry (jewelry with an estimated auction price of several hundred thousand dollars), the size and quality of the gemstones largely determines the value of the price. Although the average person has no connection to such pieces, there may be instances where splendid jewelry of this type is worn by actresses during the shooting of an elegant scene in a motion picture. Wearing this necklace by itself would not be appropriate.

The diamonds in this necklace have a brilliance that matches well to the unaided eye, with no defects that are visible under a 10-power loupe. Obviously, this jewelry was made to the manufacturer’s standards with materials that are beautiful and without defects, matched in shape and brilliancy. If only color and clarity grades had been considered, and diamonds with D or E color and VVS clarity were simply gathered and put together, the resulting necklace would probably be judged as having uneven brilliance.

Grades are useful for establishing standards for lower limits, such as “G color and VS2 or better, with no defects such as black inclusions.” When matching stones, however, it is necessary to realize that simply adhering to grades misses the point. When jewelry eventually reenters the market (other than in the case of large main stones), what matters is that the gemstones balance well as components of the jewelry, not the details of the grades of each individual stone.