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Why Diamonds Are So Expensive Today

If you think about why diamonds are costly, ideally it is just a stone that is formed from carbon atoms. It takes millions of years to form a diamond, how true is this statement. Due to its cost, many people are now buying diamond alternatives. But the craze of diamonds is not going to fade away. For ages diamonds are a symbol of love, wealth, and opulence. In this article, we would try to check why diamonds are so expensive.

Which Diamond Shape Is Expensive?

The price of all the diamonds may vary due to their shape. The factory which decides the rate of the diamond is the shape, a diamond losses almost 40 to 65% of its original stone to achieve a particular shape. It is being said that Princess Cut Diamond only wastes up to 40% of its original stone. For oval shape, the original diamond wastes up to 55% of its stone. 

The most costly shape is Round Cut Diamonds as it retains only 35% of its original stone post entire cutting and polishing is done. 

Along with the shape of the diamond cut quality also increase the price of the diamond. We can say that an excellent cut grade is extremely expensive 

What Color Of A Diamond Is The Rarest And Most Expensive?

If the diamond is more colorless then it would get a higher price.  As per the industry standards are concerned the color grading starts from the letter D which would conclude with the letter Z. Let us take an example of color J as it would have a more dark shade than color F. All colorless diamonds are more expensive as their availability is very less. So according to this D is the most luxurious and costliest diamond, and while the range starting with the letter Z would be considered cheapest. 

If we consider diamonds that have a natural color they are more expensive than colorless diamonds. Here the basic rule of commerce works if the product is very rare then the price would increase automatically. So the Red Diamond is very scarcely found making it the costliest diamond in the color category.

It all depends on the intensity of color, pure red is out of the question due to its rarity. The most popular red diamond is  Mouraieff Red, which is said to be 5.11 Carat Pure Red Diamond. This diamond is also referred to as a Fancy Red color.

Segregation According To Color

  • Reasonable Color Diamonds: Brown, grey, and yellowish tint
  • Medium Range Pricing: Orange, intense yellow color diamond
  • Superior Range Diamond: Purple, pink, and dark green colored diamond
  • Premium Diamond: Without any doubt, Blue and red colored diamonds are very rare

Clarity of the Diamond

For a common person, all the diamonds look the same. What separates them is the clarity. It is one of the measures used by professionals to differentiate between each of the diamonds. If we say flawless diamond would be very rare and very costly. Diamonds do not have any kind of internal or external defect as they are formed inside the earth’s mantle layer where the temperature is very high.

Classification Based on Clarity

  • Flawless: This kind of diamond would not have any kind of internal or external flaw
  • Internally Flawless: Usually they would not have any kind of flaw internally but on the external surface they might have some kind of flaw
  • Very Very Slightly Included: In this case, there must be a single point as small as a pin. Usually, diamonds are magnified up to 50 to 100 times so as to find any kind of flaw. 
  • Very Slightly Included: From this range, the price of the diamonds gets affected there is a small point or flaw which can only be viewed when it is zoomed under a microscope up to 10-20 times.
  • Slightly Included: In this case, it all depends upon the cut of the diamond and the position of the inclusion which is hard to find. This range of clarity usually shows a cluster of tiny spots.
  • Included: Inclusion or the flaw can easily be seen by the naked eyes. There is a demand for these types of diamonds in the market. 

Some Fancy Colour Diamonds Are In Great Demand

If we take an example of Argyle Phoenix which is a 1.56-carat red diamond it was sold for a whopping amount which is more than 2 million USD. Another such example of a Moon diamond is (the color is very rare as its name suggests) that was auctioned for 56 million USD.

We have shared this example to show why people pay so much price this type of diamond is because of the utmost rarity of that diamond. Anyone who posses these types of diamonds wants to display it has their status symbol. Also, this is not a simulated diamond, so what is a simulated diamond they are artificially made diamonds in the lab. Where they can easily make diamonds of this color. 

Needless to say that these naturally occurring diamonds are very rare and difficult to find. That is why people are ready to pay such a huge price for them.

Diamonds are a symbol of love and commitment. They have been used in engagement rings to show love to your partner. They are also symbols of status and wealth. Since ancient times they have been a symbol of luxury. 

After seeing your favorite stars wearing the diamond in the movies they have now become the representation of beauty and extravagance. The spark of the diamond show elegance and shows the high style of fashion. Diamond also is a symbol of purity and it also signifies invincibility and fearlessness and courage.

Conclusion:

After reading the above article, we can say the amount we pay to buy diamonds is totally justified. As stated earlier it takes million years for the diamond to get formed. So the thing that is so rare, royal, and exquisite no one should have any kind of doubt for paying such a hefty amount for possessing them. The most costly shape is Round Cut Diamonds as it retains only 35% of its original stone post entire cutting and polishing is done.

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