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Why Are Diamonds So Expensive?

Why Are Diamonds So Expensive?

A diamond evokes awe and fascination. It is an amazing piece of carbon that forms in the depths of the Earth with intense pressure. Though diamonds are readily available, what makes them unique and precious is how it is manufactured and various other factors. In this article, we’re going to see why are diamonds so expensiveand why do these transparent, high-quality diamondsfind a place in every woman’s heart.

Rarity

As mentioned, diamonds are not rare. But the diamonds that are used in jewelry can be rare. In fact, only 30% of all diamonds mined are fit for jewelry use. This is one reason why diamonds are so expensive.

Difficulties in mining

Diamonds are formed naturally under high-pressure underground, deep inside the Earth. Extracting these is not easy. It requires high-end expensive heavy machinery, trucks, hydraulic shovels and other machinery that requires professional handling. The extracted ore is sent to the surface, where rough diamonds are finally extracted.

Manufacturing for jewelry use

After the diamond is extracted, it has to be polished and shaped to be ready for sale. This is a labor-intensive and challenging process where workers toil hard to shape, cut and polish the diamond for sale.

Durability

With a rating of 10 on the Mohs hardness scale, diamonds are the hardest material to work with. It is next to impossible to crack, break or cut it.

This makes cutting, polishing and overall manufacturing of diamonds incredibly difficult. Diamonds will last a lot longer than other gemstones, that is another reason why they are so valuable.

Cost break-up of a diamond

Diamonds can be incredibly expensive- their cost varies from one stone to another. This is because each stone is different, the various characteristics of the stone determine its price

Cut

Each diamond is cut to gain a certain symmetry, facet arrangement and right proportions. Those diamonds which are cut symmetrically have great sparkle.

Color

Most diamonds aren’t completely flawless- they do have some sort of yellow or brown tint in them. Many times, this isn’t visible to the naked eye. The most expensive diamonds have a near-flawless color grade.

Clarity

Many diamonds contain some of the other blemish or ‘inclusions’. The clearer the diamond, the more expensive it can be.

Carat

Diamonds and other gemstones are measured in carats. The heavier the diamond, the more expensive it is.

Some of the most expensive diamonds in the world

Though the diamonds you purchase are worth a few thousand dollars, there have been diamonds mined earlier that were the most expensive diamonds in the world. Here are some of them-

Centenary diamond

This is an almost 600-carat diamond that was cut down to 274 carats after discovery. The exact value of this diamond remains unknown, but it is currently insured for about $100 million.

Hope diamond

This is a 45-carat diamond that was gifted to the Smithsonian Museum. Experts estimate its worth to be about $200 million.

The Regent Diamond

This is a mammoth 140-carat cushion cut diamond that is on display at the Louvre museum in Paris, France. Its value is estimated to be worth $61 million.

Let your relationship ‘sparkle’ with a diamond

No matter how expensive your diamond is, its unique sparkle is what attracts people to it. Irrespective of the size of your diamond in the engagement ring, your fiancé will always appreciate you for the thought you put into gifting her a diamond engagement ring. At Denver Diamond Source, our expert jeweler Mr. Bruce Chase will ensure your loved one will always remember you for the diamond you gifted her.

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