When you are out purchasing a piece of diamond or a diamond ring for that matter, the very first thing you will realize is the price. It is no wonder that diamonds are quite expensive. The shiny rocks have to go through a lot before they can reach you in the perfect condition you find them in the shops. The processes add to the cost pushing the prices higher. Remember that the stone starts all the way from the mine and needs to be cut and polished to be the spectacle that it is when waiting for you.
On the other hand, not all diamonds are expensive because they can differ greatly in value and price. Stones which come with defects and imperfections are sold at relatively low prices compared to the high quality perfect ones. The low quality diamonds are still used in different applications and as part of tools so they still have some sort of value. Here are some of the reasons why diamond remains very expensive to date.
1. It is tough to cut high quality diamond
The toughness of diamonds is actually what makes it more precious than other gems because it lasts a lifetime. Diamond has a high boiling point because it is extremely hard. This makes it withstand temperatures and falls or crashes that would have otherwise damaged it. Once the raw diamonds are mined, they need to be cut into shapes, then faceted and polished in preparation for the market. This can be very tedious considering how hard the stone is. Lots of effort needs to be put to get the maximum brilliance so the stone captures light as it should. Diamonds needs to attain certain proportions and they require attention to achieve a balance between cut, clarity and carat weight.
2. They are rare
Diamonds that have passable quality are very rare and this pushes the prices higher. Those that have good quality enough to be sold by jewelers are few thus commanding relatively high prices compared to diamonds that are low in quality and fit for other applications that don’t demand diamond quality. The rarity of acceptable grade diamonds plays a huge role in the prices.
3. Diamonds with good color are hard to find
The color of a diamond is a very important quality characteristic; the whiter or clearer the stone the more its value. Most diamonds are noticeably yellowish with just a few passing for having no tints. When a good clear stone is found, therefore, it is expected to be priced higher because of how demanding the search for the best color can be.
4. It is hard to find bigger diamonds
Diamonds are of different carat weight and the bigger the stone the more expensive the price per carat will be. This is simply because bigger diamonds are rare and hard to find compared to small diamonds. The size also leaves the stones prone to visible flaws, hence when a good large diamond is found; the price will definitely be very high.