How do the 4 Cs (cut, color, clarity, and carat weight) affect the value of a diamond, and are there similar grading systems for other precious stones?

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13 hours, 46 minutes ago in Jewelry & Precious Stones - Other

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How do the 4 Cs (cut, color, clarity, and carat weight) affect the value of a diamond, and are there similar grading systems for other precious stones?