Lifestyle

5 Major Reasons of Why Diamond is So Expensive?

You might want to know why diamond is so expensive while it’s not rare. Diamonds are not extremely rare compared to other gemstones. Bust it takes a huge cost to bring diamonds to market and there’s also scarcity of highly polished forms of diamonds while people all over the world want to buy them.

There’s a scarcity of high quality diamonds (one that sparkles and pretty). Most of the mined diamonds are ugly, also called industrial grade, used in manufacturing. Only a little portion is used for jewellery. That’s why diamond is even more expensive than gold.

Why is Diamond So Expensive?

Diamond is So Expensive
Diamonds

You might ask why diamonds are so special. The major reason for diamonds being so special is that they were formed billions of years ago  where only 50% from the mined diamonds have high quality that are sold on market. Over time, diamonds have been considered as a symbol of love. Besides, a diamond’s value is determined by considering 4 C’s, they are: Clarity, Color, Cut & Carat. Some of the major reasons of why diamond is so expensive are stipulated below:

Color

There are a wide range of available colors of diamonds including- gray, white, red, green, blue, yellow, pink, black, etc. These colors are graded according to the GIA (Gemological Institute of America) D-Z color grading system. Here, the grades determines the cost of the diamonds where the D grade diamonds have the purest color and the D grade diamonds seem clearer than the Z grade diamonds.

Clarity

Why is diamond so expensive? Diamond's photo
Diamonds

The quality of the diamonds is another determiner of diamonds value. From natural diamonds, .5-1% are flawless. Most of the diamonds have flaws but these always can’t be seen through naked eyes. However, experts verify both of the internal and external flaws. Internal flaws consist of cavities (holes in the diamonds) and crystals (minerals inside the diamonds).

There are several rating scales for clarity such as: FL(flawless); IL(internally flawless); VVSI(very, very slightly included); VS1/VS2 (very slightly included); SI1/SI2(slightly included) and I1/I2/I3(imperfect).

Cut

A perfect cut makes the diamonds more expensive than a mis-proportioned cut. Diamonds can be of different shapes, such as: emerald, pear, cushion, princess, round, marquise, heart, etc. The quality of diamonds matter much than the shapes.

Carat Weight

A carat refers to the weight of diamonds. Diamonds cost more when the size and carat weight is higher. The higher carat weight, the higher cost of diamonds. Larger ones are very rare, even from the smaller ones. So, the price of larger size diamonds cost higher than the smaller size.

Mining Costs

It’s always challenging to mine for getting diamonds which is complex and expensive. A small portion of mined diamonds is found to be perfect to use in jewellery. Only 53 places with diamonds all over the world have been using commercially for mining

As the mining sources are very rare, the mining companies are ready to invest as much as they can, even if the place is far away like in the center of the desert of Botswana.’s more expensive to mine deeper and deeper of these places. Miners have to mine 250 tons of rock for getting one single diamond.

Because of all these above factors diamond is so expensive. Besides, the popularity of diamonds among the people has made it more expensive as now it is a symbol of status. So, you should be cautious of every essential characteristics of a oerfect diamond so that you can buy the best one for yourself and your beloved ones.

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