Ever wondered why diamonds are so valuable and so expensive? Let’s take a look to figure out the answer.
Diamonds are common – While many people believe that diamonds are expensive and valuable because they are rare, this isn’t actually the case. Compared to many other gemstones, diamonds are extremely common.
Overall, the cost per carat – that’s the weight of the stone – is typically based on a stone’s rarity. So, the more rare a stone is, the more it costs. That’s why emeralds, sapphire and rubies are more expensive than diamonds, they’re simply rarer. Find rare stones at diamond wholesalers in Sydney like Australian Diamond Importers.
Size is just one factor – You might thing that the bigger a diamond is, the bigger the price tag, yet this isn’t entirely true. The carat weight or size of a stone is just one factor when it comes to placing a price on a diamond.
Make sure you understand the 4 Cs: colour, clarity, carat and cut – Each of these together helps create a diamond’s price tag. There’s not one characteristic that outweighs the other, they all equally contribute to and influence the final price.
White diamonds are easy to come by – While fancy colour diamonds, such as pink and yellow, are in short supply and high demand, colourful diamonds are far rarer than white diamonds. Yes, diamonds used to be difficult to find, but today there are more mines than ever before which means there’s a healthy global supply of diamonds around.
Also, man-made diamonds have soared in popularity. You can’t tell them apart from traditionally mined white diamonds, yet they’re more affordable and more environmentally friendly, too.
Market demand counts – For centuries, diamonds have signified power and wealth. It used to be that the stones were rare to find and therefore expensive. It’s all clever marketing tactics. Marketers want you to believe that diamonds are rare, that they signify wealth and status. But they’re actually incredibly common, easy to come by and can now even be manufactured in a lab. But since we’re led to believe they should be coveted and especially sought out, they come with hefty price tags. It’s safe to say, then, that market demand is really what makes diamonds so valuable and expensive today!
However, since diamonds are easy to come by, finding one to suit your budget is not as daunting as it sounds. Once you have a good understanding of the 4 Cs and know what you can realistically afford, you can get to work finding the perfect stone for your budget – whether that means purchasing a loose diamond or one that’s already in a setting. Remember, you can compromise on the 4 Cs to get the biggest and best stone possible for your price.
The key is to purchase your diamonds from a reputable seller and ensure it comes with the necessary certificates and warranties.
Finding a diamond you can afford is easier than ever before!
Some of you may remember the Amsterdam edition of Travel Tales, where I talked about my visit to the Diamant Museum. You can access this post by clicking here.
Do you own any diamonds? If you were able to purchase a diamond from any jeweller in the world, who would it be?
This post is a collaboration with Mediabuzzer.