The 4Cs
COLOR
Color is the body color of a diamond. GIA has developed grading systems for both white or colorless diamonds and "Fancy Colored" Diamonds.
CLARITY
Clarity measures how many characteristics a diamond has inside. Some are visible to the naked eye. Some are only visible with tools.
CUT
Cut refers to the proportions and symmetry of a diamond. The placement of facets on a diamond directly affect the beauty and brilliance of a diamond.
CARAT
Carat refers to the weight of a diamond. It is its own unit of measurement and is the most easily determined quality factor in a diamond.