Despite their widespread popularity and cultural significance, it turns out this popular engagement gem isn’t as rare as we may think. So, why are diamonds so expensive? Several factors contribute to their high price. Let’s unpack each of them to see if it’s worth shelling out a small fortune for these precious stones or if we should seek an alternative.
While diamonds might not be the rarest minerals on the planet, the specific type of diamond used in jewelry isn’t that easy to come by. Formed deep within the Earth’s mantle billions of years ago, only a small amount makes it to the surface. According to Info Diamond, only about 20 percent of rough diamonds are suitable for gem purposes.
The Four Cs and precise cutting also push the price up.
Beyond mere scarcity, the value of a diamond is deeply intertwined with its characteristics. GIA says the Four Cs (cut, clarity, color, and carat weight) are the universally accepted method of assessment.
Achieving an optimal cut that maximizes brilliance and sparkle requires meticulous craftsmanship and specialized tools. These factors significantly impact the price, with flawless, colorless, larger stones reaching astronomical heights.
For the rest of this article: https://www.msn.com/en-us/money/markets/if-diamonds-aren-t-that-rare-why-do-they-cost-so-much-an-investigation/ar-AA1mnjTN?item=flightsprg-tipsubsc-v1a?utm_source=milei.news