Diamonds are not uncommon, but high-quality diamonds suitable for jewelry are uncommon. The majority of diamonds discovered on the planet are of poor size and quality, and are utilized for industrial reasons. As a result, finding diamonds with a suitable carat weight, color, and clarity is difficult. It's time to turn the rough stone into a gleaming and exquisite diamond after all the hard effort of searching for diamonds in the earth's crust. One of the reasons diamonds are so costly is because of this entire procedure. In addition, the diamond's size and quality have a significant impact on its price.
There are a number of variables that contribute to the question of why are diamonds so costly. Diamonds are costly and in high demand because to their rarity, mining challenges, durability, cut, clarity, color, and carat. The value of a stone is determined by the four Cs. Other factors that contribute to diamonds' high price include psychological beliefs and misconceptions.
The carat weight or size of a diamond is simply one element in determining the diamond's worth. Carat, clarity, color, and cut, together known as the "Four C's," determine the price of a diamond. No one feature is more important than the others; they all contribute to and affect the ultimate selling price. Although not all stones found are rare, those utilized in jewelry are. Only 30% of mined diamond stones meet the necessary gem grade level. Because of their rarity, they are the most costly diamond in the world. The larger the stone, the higher the value and demand.
The worlds diamond supply is depleting. Fancy colored diamonds (such as yellow or rose pink diamonds) are in scarce supply, to be sure. Colorful diamonds are expected to be exhausted in a decade, according to some experts. However, the supply of white diamonds is not under jeopardy. Diamonds were once extremely difficult to come by. However, additional mines are opening up, revealing a larger worldwide supply of diamonds.
Lastly, the market demand. In Kimberly, South Africa, a veritable diamond treasure was discovered in the 1800s. This newly discovered mine has the potential to flood the market with diamonds, lowering the price of the valuable stone. De Beers swiftly intervened, purchased the mine, and kept strict control over the world diamond supply to prevent too many stones from reaching the market. Only enough diamonds were released by De Beers to fulfill annual demand. Diamonds appeared to be extremely scarce as a result of this. As a result of the ostensibly restricted supply, the price of diamonds skyrocketed. De Beers effectively maintained a stranglehold on worldwide diamond mining during the 19th century, stockpiling diamonds, limiting supply, and driving up demand and pricing.
So, by no means, is today's craze for diamonds a new phenomenon. Diamonds are an obviously bright, brilliant, and captivating stone that deserves to be admired. Anyhow, here’s Diamond registry to help and guide you in finding an affordable diamonds.