Why Are Diamond So Expensive?

There’s nothing more beautiful than a sparkling diamond, primarily when it’s used to create a wide-ranging piece of jewelry. This beauty often comes at a steep price, though. Why are diamonds so expensive? There are several various factors that drive the value of diamonds up, including:

Diamond
  • Rarity
  • Mining Difficulties
  • Durability

Rarity

In general, diamonds aren’t incredibly rare. But, the top quality diamonds that are used in the jewelry world are rare. It’s estimated that only 30% of the diamonds that are mined around the world are gem-quality. The rarity of those diamonds makes them more valuable, which is one of the explanations why they’re expensive.

Mining Difficulties

Diamonds naturally form within the high pressure, hot environment deep beneath the Earth’s surface. Extracting these diamonds from the Earth isn’t easy.

Mining involves the utilization of heavy machinery, hydraulic shovels, trucks, and other expensive equipment that’s difficult to work. This equipment is used to move ore to the surface, where the diamonds are finally extracted.

After a diamond is extracted, a diamond cutter must shape and polish it to make sure it’s ready purchasable. Mining, cutting, and polishing diamonds may be a challenging, labor-intensive process. The complexity of this process undoubtedly increases the worth of diamonds.

Durability

The diamonds are ranked as a ten on the Mohs Hardness Scale. Which is used to measure the strength and durability of a gemstone? This high score indicates that the diamonds is one of the hardest minerals in the world. It’s nearly impossible to scratch the surface of diamonds and quite difficult to break or crack it also.

This incredible durability is one of the various characteristics that set a diamond apart from other gemstones. It’s also one of the factors that increase a diamond’s price. Diamonds will last for much longer than other more delicate gemstones so that they are more valuable.

How Much Does A Diamond Cost?

Diamonds are indeed expensive, but the value of a diamond can vary from stone-to-stone. some of the factors that affect the cost of a diamond include:

Cut: A diamond’s cut refers to its symmetry, proportions, and facet arrangement. A diamond with a top-quality cut will have an intense sparkle.

Color: A color grade is used to measure the shortage of color found during a white diamond. The foremost expensive diamonds are colorless, which suggests there are not any hints of yellow-brown in the stone.

Clarity: The term “clarity” refers to the presence of inclusions and blemishes. Flawless diamonds are incredibly rare and valuable.

Carat: The carat may be a measure of a diamond’s weight. Heavier diamonds are more massive than lighter diamonds and thus costlier.

Every diamond is unique. As an example, the standard cost of a one-carat diamond will fall between $2,700-$5,500. Where a one-carat diamond falls during this range will depend mainly on its cut, color, clarity, and carat.

Keep this in mind if you’re shopping on a budget. As an example, if color isn’t necessary to you, stay within your price range by choosing a diamond with a slightly lower color grade.

The Most Expensive Diamonds within the World

The diamonds that are found in most jewelry stores can cost you loads or thousands of dollars, but they’re also are diamonds that are worth millions. Here’s a look at some of the foremost expensive diamonds within the world:

Cullinan I and Cullinan II

These two diamonds, which are 530.2 and 317.4 carats respectively, were cut from a similar 3,106-carat diamond. The nine diamonds that were cut from this massive diamond are collectively worth billions of dollars.

Centenary Diamond

This 599-carat flawless diamond was cut down to 273.85 carats shortly after being discovered. The exact value is unknown, but it’s been insured for $100 million.

Hope Diamond

The 45.52-carat Hope Diamond was gifted to the Smithsonian Museum by Harry Winston. Its estimated worth is $200 million.

The Regent Diamond

This 140.64-carat cushion cut diamond is on display at the louver museum in Paris, France. It’s believed to be worth about $61 million.

These diamonds are unbelievably expensive, but fortunately, most diamonds won’t set you back millions or billions of dollars.

Beautiful Diamonds Are Priceless

There’s no doubt that diamonds are expensive, but some are much more affordable than others. As a result, there’s no got to recoil from diamonds just because you’re working with a little budget. You’ll haven’t any trouble finding a shocking diamond that’s well within your price range!

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4 thoughts on “Why Are Diamond So Expensive?

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