If Diamonds Arenât Rare Why Are They So Expensive?
A diamond may be forever, but does that mean they are rare too? A lot of the time we take what weâve heard about diamonds for granted - much great marketing has been done by many of the largest diamond companies, and while theyâve done a great job of impacting the precious stonesâ sales, letâs really get to the bottom of this important question we often overlook.
Are They Really Rare?
The rarity of diamonds truly comes into play when looking for good, gem quality stones. The bigger, more clear, and least amount of color, the rarer the stone. So long story short, good quality diamonds are hard to come by, which in turn means a bigger price tag.
Compared to other gemstones, diamonds are actually quite plentiful. However, gem quality diamonds (meaning they are nice, sparkly and pretty) are rarer. The majority of diamonds mined are an unattractive color, or so included that you would not want one to be set in an otherwise beautiful piece of jewelry. These are called âindustrial gradeâ, meaning they usually end up being ground up into diamond dust and used in tools and manufacturing.
Where it Started
In the early 1800âs, diamonds were actually quite rare. There werenât a ton of mines producing good, gem quality stones. However, this all changed at the turn of the century when a huge amount of good diamond mines started being discovered and worked in South Africa. Thus, the diamond market became oversaturated with them.
Why are They Expensive if They Aren't Really Rare?
If you think about a diamond, from start to finish, there is a lot of work and cost associated with them. First, locating the areas that could potentially be mined, processing the rough materials to find the diamonds, and then the other half - which is where the cutting and faceting process comes in. It takes a lot of knowledge and time, (and money!) to craft good quality diamonds. All of this is being reflected in the cost of the stone.
If youâve done your fair share of natural or lab diamond shopping, youâve probably stumbled upon some big name brand retailers. You may notice something - the big, established companies that have their stones adorn celebrities' necks at fancy galas and awards ceremonies, have grossly overpriced dollar amounts to go along with them. This isnât due to their diamonds being any more rare than any other diamond, but because youâre paying for the name, along with a nice stone.
While their diamonds may be very beautiful, you can usually find a very similar diamond with the same specifications (no two diamonds are identical due to being natural) at a much lower price point.
Most people think the more expensive the diamond is, the more rare and wonderful it is. But this isnât always necessarily the case - the important part of this isnât the price tag, but the greatness of the stone. And we can help you find a winner!
In Conclusion
If youâre considering a name-brand ring, and the price tag is shocking you, let us help! We have tons of settings and gorgeous diamonds to match that wonât burn as huge a hole in your wallet. You can always send along a photo of a setting you love and the specs of the diamond and a gemologist can help you find the perfect match.
