You are probably asking yourself why some shiny pieces we add to our jewelry that are expensive. What is that we consider so valuable in them? Our primary goal is to help you determine the reasons as well as myths that are surrounding diamonds and their costs.
You have to prepare yourself before entering a jewelry store. Buying a diamond is not a simple task, especially if it is your first time and because you have to pay a significant price tag for it, but how can you tell if a diamond is real?
There are 2 simple ways to check this on your own:
Using the fog test. If it stays fogged for a few seconds, it’s probably fake. A real diamond does not fog easily.
Check the setting. A real diamond is usually set on expensive an expensive metal.
Read on to understand more about diamonds and the common myths that surround it.
Diamonds Are Rare
This is the first myth that we have to present you because, in theory, diamonds are not that rare, and if we compare them with other gemstones, we can easily say that they are one of the most common gem that you can find.
Have in mind that cost per carat or weight of a gemstone is based on its rarity, which means that rarer stone you choose, the more expensive it will be as a result. You probably didn’t know that emeralds, rubies, and sapphires are much more extraordinary gemstones, and far more costly in overall.
The Bigger, The Better
Even though this is not entirely wrong, it is not a fact that you should consider as the only one and lightly. Have in mind that carat weight or size is one of the most important factors when evaluating the diamond you wish to purchase.
However, that is not everything, because you should consider the significant C’s such as color, clarity, and carat and cut so that you can determine the appropriate price of the diamond for your particular requirements.
For instance, if you have ten-carat diamond, but the clarity is low, it means that this particular huge stone will feature less value than smaller sized one that features perfect clarity. It is not that simple, but it is critical to understand before you make up your mind.
The Diamond Supply Is Depleting
The truth is that some fancy diamonds in color such as rose and yellow ones are rare and short in supply, and according to some experts, in the next decade, people will deplete colored diamonds. On the other hand, the overall amount is not at risk at all.
Historically speaking, diamonds were challenging to find, but today, due to technological advancement, more and more mines are opening and are revealing the high supply we have when it comes to diamonds.
At the same time, artificially-made diamonds are also gaining prominence, since they are almost indistinguishable from traditional ones and of course less expensive and more environment-friendly when compared with ones got through mining processes.
What Makes Diamonds So Valuable?
You are probably wondering what makes diamonds so valuable, and the main reason for that is due to market demand. For centuries, they have been a status symbol for wealth and power, and since they were rare, they represented something big, and their price got up as a result.
During the 19th century, diamond trove started to mine them in South Africa, and that is when manufacturers found out the potential of diamonds to flood the market and to reduce the price of this particular stone.
You should check this link: https://en.wikipedia.org/wiki/Carbonado so that you can learn more on Carbonado, or toughest form of natural diamond in black color.
They wanted to prevent so many diamonds entering the market, and De Beers purchased the mine and maintained tight control on the worldwide supply. He released only enough to meet annual demand, and that provided the illusion that they were rare.
As 19th century went through, De Beers had a monopoly on the global market as well as limit supply, stockpile diamonds and drove up demand as well as expenses. He created aggressive marketing with the idea to promote diamond engagement rings and that increased overall cost of them.
For a long time, people considered diamonds as valuable stones. For instance, Ancient Greeks have discovered an indestructible stone that features mystical powers. Today, they are not a mystical phenomenon, but still mesmerizing, brilliant and dazzling.