Hello dear readers and guests of the channel. Surely, those who decided to read this article will agree that there is nothing more beautiful than a sparkling diamond, especially when it is used to create a stunning piece of jewelry. However, this beauty often comes at a high price.
Why are diamonds so expensive? There are several different factors that drive up the price of diamonds, including:
- Rarity
- Difficulties in mining
- Durability
Rarity
In general, diamonds are not so rare. But the high quality diamonds that are used in the jewelry world are rare. It is estimated that only 30% of the diamonds mined in the world are of gem quality. The rarity of these diamonds makes them more valuable, which is one of the reasons for their high value.
Difficulties in mining
Diamonds naturally form in a hot, high-pressure environment deep below the earth’s surface. It is very difficult to get them.
The mining industry uses heavy equipment, hydraulic excavators, trucks and other expensive equipment that is difficult to work with. This equipment is used to transport ore to the surface where diamonds are eventually mined.
Once the diamond is removed, the diamond cutter must shape and polish it to make sure it is ready for sale. Mining, cutting and polishing of diamonds is a complex and time-consuming process. The complexity of this process undoubtedly increases the value of diamonds.
Durability
The diamond received a score of 10 on the Mohs hardness scale, which is used to measure the strength and durability of gemstones. This high score indicates that diamond is one of the hardest minerals in the world. It is almost impossible to scratch the surface of a diamond, and it is also quite difficult to break or split it.
This incredible durability is one of the many characteristics that sets a diamond apart from other gemstones. This is also one of the factors that increase the price of a diamond. Diamonds last much longer than other more delicate gemstones, so they are more valuable.
How much is a diamond worth?
It is true that diamonds are expensive, but the value of a diamond can vary from stone to stone. Some of the factors that affect the value of a diamond include:
Cut : The cut of a diamond is related to its symmetry, proportions, and the arrangement of its facets. A diamond with a high quality cut will shine brightly.
Color : The color score is used to measure the absence of color in a white diamond. The most expensive diamonds are colorless, which means that there are no shades of yellow-brown in the stone.
Clarity : The term «clarity» refers to the presence of inclusions and stains. Flawless diamonds are incredibly rare and very valuable.
Weight : Carat is a measure of the weight of a diamond. Heavier diamonds are larger than lighter ones and therefore more expensive.
Each diamond is unique. For example, the average cost of a one carat diamond would be between $2,700 and $5,500. A one-carat diamond falls into this range mainly based on its cut, color, clarity, and weight.
Keep this in mind if you’re shopping on a budget. For example, if color is not very important to you, stay within your price range by choosing a diamond with a slightly lower color grade.
The most expensive diamonds in the world
The diamonds found in most jewelry stores and salons can cost you hundreds or thousands of dollars, but there are also diamonds that are worth millions. Here are some of the most expensive diamonds in the world:
Cullinan I and Cullinan II.
These two diamonds, which are 530.2 and 317.4 carats respectively, were cut from the same 3106 carat diamond. Nine diamonds cut from this huge diamond are worth billions of dollars in total.
Centenary Diamond (De Beers Centenary)
This flawless 599 carat diamond was reduced to 273.85 carats shortly after it was discovered. The exact value is unknown, but it is insured for $100 million.
Hope Diamond
The 45.52 carat diamond was donated to the Smithsonian by Harry Winston. Its estimated cost is $200 million.
Regent Diamond (or Pitt Diamond, «Pitt», or «Regent»)
This 140.64 carat cushion cut diamond is on display at the Louvre in Paris, France. It is believed to be worth around $61 million.
These diamonds are incredibly expensive, but luckily most diamonds won’t cost you millions or billions of dollars.
So, diamonds are expensive stones compared to other gems, but some are much more affordable than others. As a result, there is no need to forego diamonds simply because your budget is limited.
The range of stores is huge, so you won’t have any trouble finding a stunning diamond that suits your price!