D-F : Colorless diamonds: The rarest and highest quality colors you can find. G-H : Near-colorless diamonds: These diamonds have color which is only noticeable when compared to higher color grades. I-J : These diamonds have slight color, which tends to be more visible in larger diamonds. K-M : Faint color diamonds: Budget-friendly. They still offer great value.
FL : Flawless. It's in the name. The best in diamond clarity, completely free of internal or external flaws. IF : Internally Flawless. Some small surface blemishes may be visible under a microscope on IF diamonds. IF diamonds have no inclusions within the stone. VVS1-VVS2 : Very very slightly included. The inclusions are difficult to see even under 10x magnification, even to a trained eye. VS1-VS2 : Very slightly included. Minor inclusions range from difficult (VS1) to somewhat easy (VS2) to see at 10x magnification. Invisible to the naked eye. SI1-SI2 : Slightly included 1. The inclusions are visible under 10x magnification, but are not very visible to the naked eye. SI2 inclusions may be detectable to a keen unaided eye, especially when viewed from the side. I1-I3 : Included 1. Some inclusions could be visible to the naked eye. I clarity diamonds have obvious inclusions that are likely to be visible and impact beauty.
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Carat refers to the weight of a diamond, which is directly proportional to its size.